108. Falsification of records by directors, employees and agents

Terms defined in s 2

• agent

  agent

  Defined · s 2

  “agent”, in relation to a dealer, includes a person who is, or has at any time been, a banker of the dealer;

  Open s 2
• auditor

  auditor

  Defined · s 2

  “auditor” means an approved company auditor within the meaning of the Companies Act;

  Open s 2
• book

  book

  Defined · s 2

  “book” includes any register, document or other record of information and any account or accounting record, however compiled, recorded or stored whether in written or printed form or microfilm by electronic process or otherwise;

  Open s 2
• dealer

  dealer

  Defined · s 2

  “dealer” means a person who carries on a business of dealing in securities as a body corporate whether or not he carries on any other business, but does not include an exempt dealer;

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• director

  director

  Defined · s 2

  “director” has the same meaning as is assigned to that expression in the Companies Act;

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• investment adviser

  investment adviser

  Defined · s 2

  “investment adviser” means a person who —(a)carries on a business of advising others concerning securities;(b)as part of a regular business issues or promulgates analyses or reports concerning securities; or(c)pursuant to a contract or arrangement with a client, undertakes on behalf of the client (whether on a discretionary authority granted by the client or otherwise) the management of a portfolio of securities for the purpose of investment,but that expression does not include —(i)a bank as defined in section 2 of the Banking Act; (ii)a company or society registered under the Insurance Act; (iii)an advocate and solicitor or accountant in practice whose carrying on of that business is solely incidental to the practice of his profession;(iv)a company registered under the Trust Companies Act; (v)a dealer or his employee or a dealer’s representative or an exempt dealer whose carrying on of that business is solely incidental to the conduct of his business of dealing in securities; or(vi)a person who is the proprietor of a newspaper and holder of a permit issued under the Newspaper and Printing Presses Act, where —(A)insofar as the newspaper is distributed generally to the public it is distributed only to subscribers to, and purchasers of, the newspaper for value;(B)the advice is given or the analyses or reports are issued or promulgated only through that newspaper;(C)that person receives no commission or other consideration for giving the advice or for issuing or promulgating the analyses or reports; and(D)the advice is given and the analyses and reports are issued or promulgated solely as incidental to the conduct of that person’s business as a newspaper proprietor;

  Open s 2
• securities exchange

  securities exchange

  Defined · s 2

  “securities exchange” means a stock exchange or an approved securities organisation;

  Open s 2