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27. For paragraphs (1) to (3) of Article 7 of the Insider Dealing Order (definition of “deal in securities” and “off-market dealer”) there shall be substituted—
“(1) For the purposes of this Order, a person deals in securities if (whether as principal or agent) he buys or sells or agrees to buy or sell any securities.
(2) For the purposes of this Order, a person who (whether as principal or agent) buys or sells or agrees to buy or sell investments within paragraph 9 of Schedule 1 to the Financial Services Act 1986 (contracts for differences, etc.) where the purpose or pretended purpose mentioned in that paragraph is to secure a profit or avoid a loss wholly or partly by reference to fluctuations in the value or price of securities shall be treated as if he were dealing in those securities.
(3) “Off-market dealer” means a person who is an authorised person within the meaning of the Financial Services Act 1986.”.
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