[19.260] An insider can be an officer or employee of a company. A company may also bean insider. For example, under s 1042G a body corporate is taken to possess and knowinformation which an officer possesses and which came into the officer's possession in thecourse of performance of their duties as an officer.what is inside information?[19.265] "Inside information" is defined ins 1042A as meaning information that:.._ is not generally available; and.._ if it were generally available, a reasonable person would expect it to have a materialeffeCt on the price or value of particular Division 3 financial products."Information" includes matters of supposition and other matters that are insufficiently~efinite to warrant being made known to the public and matters that relate to the~ntentions or likely intentions of a person: s 1042A. This extended definition ofinformation is not confined to specific information and includes factual knowledgeacquired by means of hints and veiled suggestions from which the recipient may inferother knowledge: ASIC v Citicorp Global Markets Australia Pty Ltd (No 4) [2007] FCA963.information not generally available[19.270] To establish a contravention of the prohibitions ins 1043A, it is critical for theprosecution to prove that a person possessed information that is not generally available.·Section 1 042C explains when information is generally available.Under s 1 042C( 1 )(a), information is generally available if it consists of readilyvấn đề quan sát được.
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