NAB 0.62% $19.28 national australia bank limited

section 1043a of the corporations act

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    CORPORATIONS ACT 2001 - SECT 1043A
    Prohibited conduct by person in possession of inside information

    (1) Subject to this Subdivision, if:

    (a) a person (the insider ) possesses inside information; and

    (b) the insider knows, or ought reasonably to know, that the matters specified in paragraphs (a) and (b) of the definition of inside information in section 1042A are satisfied in relation to the information;

    the insider must not (whether as principal or agent):

    (c) apply for, acquire, or dispose of, relevant Division 3 financial products, or enter into an agreement to apply for, acquire, or dispose of, relevant Division 3 financial products; or

    (d) procure another person to apply for, acquire, or dispose of, relevant Division 3 financial products, or enter into an agreement to apply for, acquire, or dispose of, relevant Division 3 financial products.

    Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)). For defences to a prosecution based on this subsection, see section 1043M.

    Note 2: This subsection is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see sections 1043N and 1317S.

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    Now it doesnt say anything in there, about the share trading being OK if it is approved of by another insider.

    I wonder which part of this Law, Ullmer doesn't understand.
 
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