Securities Markets Order, 2013 · s 131

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s 131Due diligence defence

In proceedings brought against a person for an offence under section 130[1)

it shall be a defence for him to prove that -

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(a/ he had made all enquiries as were reasonable in the circumstances;

and

(b/

after making such enquiries, he had reasonable grounds to believe and did believe until the time of the making of the statement or the provision of the information that -

(i)

the statement or information was true and not misleading; or

(ii)

there was no material omission.