94. Insiders

For the purposes of this Part, an Insider is any person who has Inside Information —

(a) as a result of his membership of an administrative, management or supervisory body of an Issuer of Financial Instruments;
(b) as a result of his holding in the capital of an Issuer of Financial Instruments;
(c) as a result of having access to the information through the exercise of his employment, profession or duties;
(d) as a result of his criminal activities; or
(e) which he has obtained by other means and which he knows, or could reasonably be expected to know, is Inside Information.