CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 7 - SECURITIES
PART 7.11 - CONDUCT IN RELATION TO SECURITIES
CCH Note:
Div 1 of Part 7.11 (sec 994) repealed by No 156 of 1999, Sch 3, Pt 1 (effective 13 March 2000).
Division 2 - Prohibited conduct
SECTION 997
STOCK MARKET MANIPULATION
997(1)
[Increasing price of securities of body corporate]
A person shall not enter into or carry out, either directly or indirectly, 2 or more transactions in securities of a body corporate, being transactions that have, or are likely to have, the effect of increasing the price of securities of the body corporate on a stock market, with intention to induce other persons to buy or subscribe for securities of the body corporate or of a related body corporate.
History
S 997(1) amended by No 110 of 1990, Sch 1 (effective 18 December 1990).
997(2)-(3)
(Omitted by No 110 of 1990, Sch 1 (effective 18 December 1990).)
997(4)
[Reducing price of securities of body corporate]
A person shall not enter into, or carry out, either directly or indirectly, 2 or more transactions in securities of a body corporate, being transactions that have, or are likely to have, the effect of reducing the price of securities of the body corporate on a stock market, with intent to induce other persons to sell securities of the body corporate or of a related body corporate.
History
S 997(4) amended by No 110 of 1990, Sch 1 (effective 18 December 1990).
997(5)-(6)
(Omitted by No 110 of 1990, Sch 1 (effective 18 December 1990).)
997(7)
[Maintaining price of securities of body corporate]
A person shall not enter into, or carry out, either directly or indirectly, 2 or more transactions in securities of a body corporate, being transactions that have, or are likely to have, the effect of maintaining or stabilising the price of securities of the body corporate on a stock market, with intent to induce other persons to sell, buy or subscribe for securities of the body corporate or of a related body corporate.
History
S 997(7) amended by No 110 of 1990, Sch 1 (effective 18 December 1990).
997(8)-(9)
(Omitted by No 110 of 1990, Sch 1 (effective 18 December 1990).)
997(10)
[Transaction]
A reference in this section to a transaction, in relation to securities, includes:
(a)
a reference to the making of an offer to sell or buy securities; and
(b)
a reference to the making of an invitation, however expressed, that expressly or impliedly invites a person to offer to sell or buy securities.
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