(1) A person who has information as an insider commits the offence of insider dealing if that person—
(a) deals in securities that are price-affected in relation to that information;
(b) encourages another person to deal in securities that are (whether or not that other person knows it) price-affected securities in relation to the information, knowing or having reasonable cause to believe that the dealing would take place; or
(c) discloses the information, otherwise than in the proper performance of the functions of that individual's employment, office or profession, to another person.
(2) A person who commits an offence under subsection (1) is liable on summary conviction—
(a) to a fine of $500,000 or to imprisonment for 5 years or to both; and
(b) the court may make an order imposing on the convicted person a penalty, payable to the Commission, of an amount not exceeding 3 times the amount of any profit gained or loss avoided by any person as a result of the insider dealing.
(3) In addition to the penalty stated in subsection (2) a person who is convicted of an offence under this section is—
(a) liable to compensate any person for any direct loss incurred by that person as a result of the insider dealing unless that other person was a party to the insider dealing;
(b) accountable to the company for any direct benefit or advantage received or receivable as a result of the insider dealing.
(4) A contract is not void or unenforceable by reason only of an offence under this section.