Regulation 2 The Criminal Justice Act 1993

In the Criminal Justice Act 1993^f1, in Schedule 1, after paragraph 5, insert—

“6.

An individual (“A”) is not guilty of insider dealing by virtue of dealing, or encouraging another person to deal, in securities through a trading venue in Gibraltar if A shows that A acted in conformity with—

(a)

the following as they have effect in Gibraltar law—

(i)

Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation), and

(ii)

each EU regulation originally made under that Article, and

(b)

all other applicable Gibraltar law (if any).

7.

An individual (“A”) is not guilty of insider dealing by virtue of dealing, or encouraging another person to deal, in securities through a trading venue in an EEA State if A shows that A acted in conformity with—

(a)

the following as they apply in the EEA State—

(i)

Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation), and

(ii)

each EU regulation made under that Article, and

(b)

all other applicable law of the EEA State (if any).

8.

For the purposes of paragraphs 6 and 7 “trading venue” has the meaning given by Article 2(1)(16) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012, as substituted by the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403).”^f2.