86
CAP. 333]
Securities
[1989 Ed.
(g) an order directing a company not to issue shares to a person who holds shares in the company by reason of his holding those shares nor in pursuance of an offer made to such a person by reason of his holding those shares.
(2) A copy of an order under subsection (1) and of any order by which it is revoked or altered shall be served-
(a) where it relates to specified securities, on the authority or body that issued them or made them available or, where the securities are rights or options, on the authority or body against whom the right is, or would be enforceable, or which issued or made available the securities to which the option relates; and
(b) where it relates to a corporation, on the corporation.
(3) A person aggrieved by an order under subsection (1) may apply to the Court for revocation of the order and the Court may, if it is satisfied that it is reasonable to do so, revoke the order and any order by which it has been altered or varied.
(4) Any person who contravenes an order under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine of $5,000.
(5) Without prejudice to the powers of the Attorney General in relation to the prosecution of criminal offences, a prosecution under this section shall not be instituted except with the consent in writing of the Commission.
PART XII
PREVENTION OF IMPROPER TRADING PRACTICES
135. False markets and trading
Offences
(1) A person shall not intentionally create or cause to be created, or do anything with the intention of creating-
(a) a false or misleading appearance of active trading in any securities on the Unified Exchange; or
(b) a false market in respect of any securities on the Unified Exchange. (Amended 58 of 1985 s. 84)
(2) For the purposes of subsection (1)(b), a false market is created in relation to securities when the market price of those securities is raised or depressed or pegged or stabilized by means of-
(a) sales and purchases transacted by persons acting in collaboration with each other for the purpose of securing a market price for those securities that is not justified either by the assets of the corporation which issued the securities or by the profits (including anticipated profits) of the corporation;