Investment Funds, Companies and Miscellaneous Provisions Act 2005

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PART 4

Market Abuse

Interpretation (Part 4).

29.—(1) In this Part—

“2003 Market Abuse Directive” means Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse)² , including that Directive as it stands amended for the time being;

“Irish market abuse law” means—

(a) the measures adopted for the time being by the State to implement the 2003 Market Abuse Directive and the supplemental Directives (whether an Act of the Oireachtas, regulations under section 3 of the European Communities Act 1972 , regulations under section 30 or any other enactment (other than, save where the context otherwise admits, this Part)),

(b) any measures directly applicable in the State in consequence of the 2003 Market Abuse Directive and, without prejudice to the generality of this paragraph, includes the Market Abuse Regulation, and

(c) any supplementary and consequential measures adopted for the time being by the State in respect of the Market Abuse Regulation;

“Market Abuse Regulation” means Commission Regulation 2273/2003 of 22 December 2003³ ;

“supplemental Directives” means—

(a) Commission Directive No. 2003/124/EC of 22 December 2003⁴ ,

(b) Commission Directive No. 2003/125/EC of 22 December 2003⁵ , and

(c) Commission Directive No. 2004/72/EC of 29 April 2004⁶ .

(2) A word or expression that is used in this Part and is also used in the 2003 Market Abuse Directive or the supplemental Directives shall have in this Part the same meaning as it has in the 2003 Market Abuse Directive or the supplemental Directives, unless—

(a) the contrary intention appears, or

(b) Irish market abuse law provides otherwise.

² OJ L096, 12.4.2003, p. 16

³ OJ L336, 23.12.2003, p. 33

⁴ OJ L339, 24.12.2003, p. 70

⁵ OJ L339, 24.12.2003, p. 73

⁶ OJ L162, 30.4.2004, p. 70