Clause 199
False or misleading statements, etc.
of Securities and Futures Bill
BillNot in forceProvision 199 of 348
Clause 199
No person shall make a statement, or disseminate information, that is false or misleading in a material particular and is likely —
(a)
to induce other persons to subscribe for securities;
(b)
to induce the sale or purchase of securities by other persons; or
(c)
to have the effect of raising, lowering, maintaining or stabilising the market price of securities,if, when he makes the statement or disseminates the information —
(i)
he does not care whether the statement or information is true or false; or
(ii)
he knows or ought reasonably to have known that the statement or information is false or misleading in a material particular.