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MKT 6.2.6 Restrictions

Past version: effective from 21/10/2015 - 20/10/2015
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(1) In order to benefit from the exemption provided by the Regulations, the Issuer shall not, during its participation in a Buy-back Programme, engage in the following trading:
(a) selling of own Shares during the life of the programme;
(b) trading during a closed period; or
(c) trading where the Issuer has decided to delay the public disclosure of Inside Information in accordance with the Regulations.
(2) Paragraph (1)(a) shall not apply if the Issuer is a Reporting Entity and has established effective information barriers (Chinese Walls) subject to supervision by the Regulator, between those responsible for the handling of Inside Information related directly or indirectly to the Issuer and those responsible for any decision relating to the trading of own Shares (including the trading of own Shares on behalf of Clients), when trading in own Shares on the basis of such any decision.
(3) Paragraphs (1)(b) and (c) shall not apply if the Issuer is a Reporting Entity and has established effective information barriers (Chinese Walls) subject to supervision by the Regulator, between those responsible for the handling of Inside Information related directly or indirectly to the Issuer (including trading decisions under the Buy-back Programme) and those responsible for the trading of own Shares on behalf of Clients, when trading in own Shares on behalf of those Clients.
(4) Paragraph (1) shall not apply if:
(a) the Issuer has in place a Time-scheduled Buy-back Programme; or
(b) the Buy-back Programme is lead-managed by a Reporting Entity which makes its trading decisions in relation to the Issuer's Shares independently of, and without influence by, the Issuer with regard to the timing of the purchases.