South Africa Act or statute

Parliament of the Republic of South Africa

Stock Exchanges Control Amendment Act, 2001

This notice says the President assented to the Stock Exchanges Control Amendment Act, 2001, and that it is published for general information. This section amends the Stock Exchanges Control Act, 1…

listed securitiesprice manipulationprice stabilisation

Jurisdiction: South Africa
Structure: 4 provisions
Citation: Act 40 of 2001
Dates: updated 5 Dec 2001

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Dates: updated 5 Dec 2001

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“This notice says the President assented to the Stock Exchanges Control Amendment Act, 2001, and that it is published for general information.”

This notice says the President assented to the Stock Exchanges Control Amendment Act, 2001, and that it is published for general information. This section amends the Stock Exchanges Control Act, 1985 to allow a stock exchange to regulate price-stabilising mechanisms in its rules or listing requirements. A person must not use misleading statements, fictitious transactions, false reports, or transaction structures to induce trading or manipulate listed-security prices. This section gives the Act’s short title: the Stock Exchanges Control Amendment Act, 2001.

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December 2001 No. 22892

This notice says the President assented to the Stock Exchanges Control Amendment Act, 2001, and that it is published for general information.

Section 5

No. 22892

This section amends the Stock Exchanges Control Act, 1985 to allow a stock exchange to regulate price-stabilising mechanisms in its rules or listing requirements.

Section 2

The following section is hereby substituted for section 40 of the Stock Exchanges

A person must not use misleading statements, fictitious transactions, false reports, or transaction structures to induce trading or manipulate listed-security prices.

Section 1

This Act is called the Stock Exchanges Control Amendment Act, 2001.

This section gives the Act’s short title: the Stock Exchanges Control Amendment Act, 2001.

Section 2

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Source record from www.parliament.gov.za · updated 5 Dec 2001

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Showing 4 of 4 provisions

Short title 2AmendmentSubstitution

§ 5December 2001 No. 22892Amendment

This notice says the President assented to the Stock Exchanges Control Amendment Act, 2001, and that it is published for general information.

5 December 2001 No. 22892 THE PRESIDENCY No. 1281 5 December 2001 It is hereby notified that the President has assented to the following Act, which is hereby published for general information:– No. 40 of 2001: Stock Exchanges Control Amendment Act, 2001 AIDS HELPLINE: 0800-123-22 Prevention is the cure

Section 5Verify source

§ 2No. 22892Substitution

This section amends the Stock Exchanges Control Act, 1985 to allow a stock exchange to regulate price-stabilising mechanisms in its rules or listing requirements.

2 No. 22892 GOVERNMENT GAZETTE. 5 DECEMBER 200 1 Act No. 40,2001 STOCK EXCHANGES CONTROL AMENDMENT ACT, 2001 GENERAL EXPLANATORY NOTE: Words underlined with a solid line indicate insertions existing enactments. in (English text signed by the President.) (Assented to 29 November 2001.) ACT To amend the Stock Exchanges Control Act, 1985, so as to enable a stock exchange to regulate price-stabilising mechanisms in its rules or listing requirements; and to provide for matters connected therewith. B E IT ENACTED by the Parliament of the Republic follows:- of South Africa, as Amendment of section 40 of Act 1 of 1985, as substituted by section 37 of Act 54 of 1995

Section 2Verify source

§ 1The following section is hereby substituted for section 40 of the Stock ExchangesShort title

A person must not use misleading statements, fictitious transactions, false reports, or transaction structures to induce trading or manipulate listed-security prices.

1. The following section is hereby substituted for section 40 of the Stock Exchanges .5 Control Act. 198.5: “Manipulative practices and price stabilisation 40. (1) No person shall- (a) bymeans of any statement, promise, forecast or any other action which he or she knows to be misleading or which is likely to be misleading, induce any other person to buy or sell listed securities; (b) directly or indirectly, whether within or outside a stock exchange, by means of the creation of fictitious transactions or the spreading of false reports attempt to stimulate activities or influence or manipulate the prices of listed securities; or (c) enter into any transaction, including a bear sale, with the intention of influencing or manipulating the price of listed securities. (2) Despite subsection (l), the use of price-stabilising mechanisms that are regulated by the rules or listing requirements of a stock exchange does not constitute a manipulative practice for purposes of this section or insider trading for purposes of the Insider Trading Act, 1998 (Act NO. 13.5 of 1998). (3) Listing requirements regulating such mechanisms may only be made 1 in consultation with the Registrar.”. 10 15 20 Short title 25

Section 1Verify source

§ 2This Act is called the Stock Exchanges Control Amendment Act, 2001.Short title

This section gives the Act’s short title: the Stock Exchanges Control Amendment Act, 2001.

2. This Act is called the Stock Exchanges Control Amendment Act, 2001.

Section 2Verify source

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2 referenced instruments

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N–S

2 instruments

Stock Exchanges .5 Control Act
Section 1
Stock Exchanges Control Act, 1985
Section 2

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