98. Stock market manipulation
Feedback & supportA person shall not effect, take part in, be concerned in or carry out, either directly or indirectly, two or more transactions in securities of a body corporate being transactions that have, or are likely to have, the effect of raising the price of securities of the body corporate on a securities exchange in Singapore, with intent to induce other persons to purchase or subscribe for securities of the body corporate or of a related body corporate.
securities
“securities” means —(a)debentures, stocks or bonds issued or proposed to be issued by a government;(b)debentures, stocks, shares, bonds or notes issued or proposed to be issued by a body corporate or unincorporate;(c)any right or option in respect of any such debentures, stocks, shares, bonds or notes; or(d)any interest as defined in section 107 of the Companies Act, but does not include —(e)futures contracts that are governed by any written law regulating trading in futures contracts;(f)bills of exchange;(g)promissory notes; or(h)certificates of deposit issued by a bank;
A person shall not effect, take part in, be concerned in or carry out, either directly or indirectly, two or more transactions in securities of a body corporate, being transactions that have, or are likely to have, the effect of lowering the price of securities of the body corporate on a securities exchange in Singapore, with intent to induce other persons to sell securities of the body corporate or of a related body corporate.
securities exchange
“securities exchange” means a stock exchange or an approved securities organisation;
A person shall not effect, take part in, be concerned in or carry out, either directly or indirectly, two or more transactions in securities of a body corporate, being transactions that have or are likely to have, the effect of maintaining or stabilising the price of securities of the body corporate on a securities exchange in Singapore with intent to induce other persons to sell, purchase or subscribe for securities of the body corporate or of a related body corporate.
A reference in this section to a transaction, in relation to securities of a body corporate, includes —
a reference to the making of an offer to sell or purchase such securities of the body corporate; and
a reference to the making of an invitation, however expressed, that expressly or impliedly invites a person to offer to sell or purchase such securities of the body corporate.