Section 56 “Inside information”, etc.

(1)

For the purposes of this section and section 57, “inside information” means information which—

(a)

relates to particular securities or to a particular issuer of securities or to particular issuers of securities and not to securities generally or to issuers of securities generally;

(b)

is specific or precise;

(c)

has not been made public; and

(d)

if it were made public would be likely to have a significant effect on the price of any securities.

(2)

For the purposes of this Part, securities are “price-affected securities” in relation to inside information, and inside information is “price-sensitive information” in relation to securities, if and only if the information would, if made public, be likely to have a significant effect on the price of the securities.

(3)

For the purposes of this section “price” includes value.

Notes on the whole Act

Textual amendments

F1: Words in Act substituted (22.4.2011) by The Treaty of Lisbon (Changes in Terminology) Order 2011 (S.I. 2011/1043), arts. 2, 3, 6 (with art. 3(2)(3), 4(2), 6(4)(5))

Notes on Part V

Modifications

C1: Pt. V (ss. 52-64) applied (E.W.N.I) (1.12.2001) by 2000 c. 8, s. 402(1)(a); S.I. 2001/3538, art. 2(1)