Part 4 — Alteration of Constitution Division 1 Memorandum of Association
47 Application of insider trading rules
(2) A private company which under this Division purchases a
share issued by it and makes use of any specific confidential
information for its own benefit or advantage which, if generally
known, might reasonably be expected to affect materially the value
of the share, is liable to compensate any shareholder or former
shareholder from whom the share was purchased for any direct loss
suffered by that person as a result of the purchase, unless the
information was known or ought reasonably to have been known
by that shareholder or former shareholder at the time of the
purchase.
(3) An action to enforce any right created by subsection (2) may be
commenced only within 2 years after the date of completion of the
purchase.
RSA 2000 cC-21 s47;2020 c25 s2(27)