1989 Ed.]
Securities
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(b) any act which has the effect of preventing or inhibiting the free negotiation of market prices for the purchase or sale of the securities; or
(c) the employment of any fictitious transaction or device or any other form of deception or contrivance.
(3) A person shall not with the intention of depressing, raising, or causing fluctuations in the market price of any securities effect any purchase or sale of any such securities which involves no change in the beneficial ownership of those securities.
(4) A purchase or sale of securities involves no change in beneficial ownership within the meaning of subsection (3) if a person who held an interest in the securities before the purchase or sale, or a person associated with him in relation to those securities, holds an interest in the securities after the purchase or sale. (Amended L.N. 140 of 1974)
(5) A person shall not circulate or disseminate, or authorize or be concerned in the circulation or dissemination of, any statement or information to the effect that the price of any securities will or is likely to rise or fall because of the market operations of one or more persons which, to his knowledge, are conducted in contravention of subsection (1).
136. Employment of fraudulent or deceptive devices etc.
A person shall not, directly or indirectly, in connection with any transaction with any other person involving the purchase, sale, or exchange of securities---
(a) employ any device, scheme, or artifice to defraud that other person; or
(b) engage in any act, practice, or course of business which operates as a fraud or deception, or is likely to operate as a fraud or deception, of that other person.
137. Restrictions on fixing, etc, prices for securities
A person shall not, either alone or with one or more other persons, effect any series of transactions for the purchase or sale of securities, or the purchase and sale, of any securities for the purpose of pegging or stabilizing the price of securities of that class in contravention of any regulations made for the purposes of this section.
138. False or misleading statements about securities
A person shall not, directly or indirectly, for the purposes of inducing the sale of the securities of any corporation, make with respect to those securities, or with respect to the operations or the past or future performance of the corporation-
1989 Ed.]
Securities
[CAP. 333
87
(b) any act which has the effect of preventing or inhibiting the free negotiation of market prices for the purchase or sale of the securities; or
(c) the employment of any fictitious transaction or device or any
other form of deception or contrivance.
(3) A person shall not with the intention of depressing, raising, or causing fluctuations in the market price of any securities effect any purchase or sale of any such securities which involves no change in the beneficial ownership of those securities.
(4) A purchase or sale of securities involves no change in beneficial ownership within the meaning of subsection (3) if a person who held an interest in the securities before the purchase or sale, or a person associated with him in relation to those securities, holds an interest in the securities after the purchase or sale. (Amended L.N. 140 of 1974)
(5) A person shall not circulate or disseminate, or authorize or be concerned in the circulation or dissemination of, any statement or information to the effect that the price of any securities will or is likely to rise or fall because of the market operations of one or more persons which, to his knowledge, are conducted in contravention of subsection (1).
136. Employment of fraudulent or deceptive devices etc.
A person shall not, directly or indirectly, in connection with any transaction with any other person involving the purchase, sale, or exchange of securities---
(a) employ any device, scheme, or artifice to defraud that other
person; or
(b) engage in any act, practice, or course of business which operates as a fraud or deception, or is likely to operate as a fraud or deception, of that other person.
137. Restrictions on fixing, etc, prices for securities
A person shall not, either alone or with one or more other persons, effect any series of transactions for the purchase or sale of securities, or the purchase and sale, of any securities for the purpose of pegging or stabilizing the price of securities of that class in contravention of any regulations made for the purposes of this section.
138. False or misleading statements about securities
A person shall not, directly or indirectly, for the purposes of inducing the sale of the securities of any corporation, make with respect to those securities, or with respect to the operations or the past or future performance of the corporation-
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