Singapore legislation
Clause 198
Clause 198
Securities market manipulation
(1)
No person shall effect, take part in, be concerned in or carry out, directly or indirectly, 2 or more transactions in securities of a corporation, being transactions that have, or are likely to have, the effect of raising, lowering, maintaining or stabilising the price of securities of the corporation on a securities market, with intent to induce other persons to subscribe for, purchase or sell securities of the corporation or of a related corporation.
(2)
A reference in subsection (1) to transactions in securities of a corporation includes —
a reference to the making of an offer to purchase or sell such securities of the corporation; and
a reference to the making of an invitation, however expressed, that directly or indirectly invites a person to offer to purchase or sell such securities of the corporation.