THE CORPORATIONS LAW

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CCH Note: Div 1 of Part 7.11 (sec 994) repealed by No 156 of 1999, Sch 3, Pt 1 (effective 13 March 2000).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.

View history note

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.

View history note

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.

View history note

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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