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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other matters, that it shall be an offence to deal in securities on a recognised stock exchange whilst in possession of unpublished price sensitive information (as defined in section 10) in relation to those securities, or to counsel or procure such dealing.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.
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).