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Insider Trading Act, 1998

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To prohibit individuals who have inside information relating to securities or financial instruments from dealing in such securities or financial instruments; to provide for criminal and civil law penalties for such dealing; to empower the Financial Services Board to investigate matters relating to such dealing, to institute proceedings in relation thereto and to administer the proof of claims and distribution of payments received as a result of any such proceedings; to establish the Directorate as a committee of the Financial Services Board for exercising the power to institute proceedings; to repeal a section of the Companies Act, 1973; and to provide for matters connected therewith.


Last update: January 2005

Copyright: This Act reproduced under Government Printers Copyright Authority 10154 dated 20 March 1996

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Latest Developments:


The Insider Trading Act, 1998 (Act No. 135 of 1998) has been repealed by section 117 of Security Services Act, 2004 (Act No. 36 of 2004), Notice No. 48, GG 27190, dated 24 January 2005.


The Insider Trading Act, 1998 has been published in Government Gazette 19546 Notice No. 1560, and dated 2 December 1998.This Act came into operation on 17 January 1999.