The Insider Dealing (Recognised Stock Exchange) (No. 2) Order 1990

Statutory Instruments

1990 No. 47

FINANCIAL SERVICES

The Insider Dealing (Recognised Stock Exchange) (No. 2) Order 1990

Made

12th January 1990

Coming into force

1st March 1990

The Secretary of State, in exercise of his powers under section 16(1) and (1A) of the Company Securities (Insider Dealing) Act 1985(1), hereby makes the following Order:

1.  This Order may be cited as the Insider Dealing (Recognised Stock Exchange) (No. 2) Order 1990 and shall come into force on 1st March 1990.

2.  The Secretary of State hereby declares the investment exchange known as OM London Limited to be a recognised stock exchange for the purposes of the Company Securities (Insider Dealing) Act 1985.

John Redwood

Parliamentary Under-Secretary of State,

Department of Trade and Industry

12th January 1990

Explanatory Note

(This note is not part of the Order)

This Order declares the investment exchange known as OM London Limited to be a recognised stock exchange for the purposes of the Company Securities (Insider Dealing) Act 1985 (“the Act”). The Act provides, amongst other matters, that it shall be an offence to deal in securities on a recognised stock exchange whilst in possession of unpublished price sensitive information (as defined in section 10) in relation to those securities, or to counsel or procure such dealing.

There has been one previous order (S.I. 1989/2165) declaring the investment exchange known as NASDAQ to be a recognised stock exchange for the purposes of the Act.

(1)

1985 c. 8. The relevant part of subsection (1) and subsection (1A) of section 16 were inserted by section 212(2) of and paragraph 28 of Schedule 16 to the Financial Services Act 1986 (c. 60).