324. Liability of insider
An insider who, in connection with a transaction in a share or debenture of the company or any of its affiliates, makes use of any specific confidential information for his or her own benefit or advantage that, if generally known, might reasonably be expected to affect materially its value commits an offence and—
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(a) is liable to compensate any person for any direct loss incurred by that person as a result of the transaction, unless the information was known or in the exercise of reasonable diligence should have been known, to that person at the time of the transaction; and
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(b) is accountable to the company for any direct benefit or advantage received or receivable by the insider as a result of the transaction.