Section 105: False trading and market rigging transactions.

(1) A person shall not create, or cause to be created, or do anything which may create a false or misleading appearance:
(a) of active trading in any securities on a securities exchange or capital trade point; or
(b) with respect to the market for the price of any such securities.
(2) A person shall not:
(a) by means of purchase or sale of any securities that do not involve a change in the beneficial ownership of those securities; or
(b) by any fictitious transactions or devices, maintain, inflate, depress, or cause fluctuations in the market price of any securities.
(3) Without prejudice to the generality of subsection (1) of this section, a person who:
(a) effects, participates in, is concerned with or carries out, either directly or indirectly, any transaction, sale or purchase of any securities, being a transaction, sale or purchase which does not involve any change in the beneficial ownership of the securities; or
(b) makes or causes to be made an offer to sell any securities at a specified price where he has made or caused to be made or proposes to make or cause to be made, or knows that a person associated with him has made or caused to be made, an offer to purchase the same number, or substantially the same number of securities at a price which is substantially the same as the first mentioned price; or
(c) makes or causes to be made an offer to purchase any securities at a specified price where he has made or caused to be made or proposes to make or cause to be made, or knows that a person associated with him has made or caused to be made or proposes to make or cause to be made, an offer to sell the same number of securities at a price which is substantially the same as the first-mentioned price, shall be deemed to have created a false or misleading appearance of active trading in securities on a securities exchange or capital trade point.
(4) For an act referred to in subsection (3) of this section, it is a defence if a person establishes that the purpose or purposes for which he did the act was not, or did not include, the purpose of creating a false or misleading appearance of active trading in securities on a securities exchange or capital trade point.