1964_SECURITIES_ORDINANCE — Page 92

1989 Ed.]

Securities

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(2) Without limiting the meaning of the phrase "dealing in relation to securities" in section 141B(1) and notwithstanding sections 2 and 3, a person deals in securities for the purposes of this Part if (whether as principal or agent) he buys, sells, exchanges or subscribes for, or agrees to buy, sell, exchange or subscribe for, any securities or acquires or disposes of, or agrees to acquire or dispose of, the right to buy, sell, exchange or subscribe for, any securities.

141E. Definition of person connected with a corporation

(1) A person is connected with a corporation for the purposes of section 141B if, being an individual—

(a) he is a director or employee of that corporation or a related corporation; or

(b) he is a substantial shareholder in the corporation or a related corporation; or

(c) he occupies a position which may reasonably be expected to give him access to relevant information concerning the securities of the corporation by virtue of

(i) any professional or business relationship existing between himself (or his employer or a corporation of which he is a director or a firm of which he is a partner) and that corporation, a related corporation or a substantial shareholder in either of such corporations; or

(ii) his being a director, employee or partner of a substantial shareholder in the corporation or a related corporation; or

(d) he has access to relevant information concerning the securities of the corporation by virtue of his being connected (within the meaning in paragraph (a), (b) or (c)) with another corporation being information which relates to any transaction (actual or expected) involving both those corporations or involving one of them and the securities of the other; or

(e) he was at any time within the 6 months preceding any dealing in relation to securities within the meaning of section 141B(1) a person connected with the corporation within the meaning in paragraph (a), (b), (c) or (d).

(2) A corporation is a person connected with a corporation for the purposes of section 141B so long as any of its directors or employees is a person connected with that other corporation within the meaning in subsection (1).

(3) In subsection (1) "substantial shareholder" in relation to a corporation means a person who has an interest in securities comprised in the equity share capital of that corporation being securities which—

(a) have a nominal value equal to more than 10% of that share capital; or