COMPANIES ACT - 1963 (ACT 179)

    Section - 214 - Duties of Directors in Connection with Sales or Purchases of the Company's Securities

    (1) If a director of a company, having acquired as such director any special information which may substantially affect the value of the shares or debentures of the company or any associated company, shall buy or sell any such shares or debentures without disclosing such information to the seller or purchaser thereof, the purchase or sale shall be voidable at the option of the seller or purchaser within twelve months after the date of the agreement to sell or buy.

    (2) For the purposes of this section any shares or debentures bought or sold shall be deemed to have been bought or sold by a director if his interest therein is such as to require recording in relation to him in the register to be maintained in accordance with section 215 of this Code, unless it is proved that the sale or purchase was not made by him or on his instructions or advice or on the instructions or advice of any other person to whom he had imparted any special information affecting the value of the shares or debentures obtained by him in his capacity of director.

    (3) This section shall not prejudice the right of the company to proceed against any director for breach of section 205 of this Code.