Cap. 476 Art. 4Scope.

(1) This Act shall apply to the following:

(a) financial instruments admitted to trading on a regulated market or for which a request for admission to trading on a regulated market has been made;

(b) financial instruments traded on a multilateral trading facility (MTF), admitted to trading on an MTF or for which a request for admission to trading on an MTF has been made;

(c) financial instruments traded on an OTF;

(d) financial instruments not covered by paragraph (a), (b) or (c), the price or value of which depends on, or has an effect on, the price or value of a financial instrument referred to in those paragraphs, including, but not limited to, credit default swaps and contracts for difference.

(2) This Act shall also apply to behaviour or transactions, including bids, relating to the auctioning on an auction platform authorised as a regulated market of emission allowances or other auctioned products based thereon, including when auctioned products are not financial instruments, pursuant to Commission Regulation (EU) No. 1031/2010. Without prejudice to any specific provisions referring to bids submitted in the context of an auction, any provisions in this Act referring to orders to trade shall apply to such bids.

(3) Articles 6, 6A and 8 shall not apply to:

(a) trading in own shares in buy-back programmes, where such trading is carried out in accordance with Article 5(1), (2) and (3) of the Market Abuse Regulation;

(b) trading in securities or associated instruments as referred to in paragraphs (a) and (b) of Article 3(2) of the Market Abuse Regulation for the stabilisation of securities, where such trading is carried out in accordance with Article 5(4) and (5) of the Market Abuse Regulation;

(3A) (a) This Act shall not apply to transactions, orders or behaviour carried out in pursuit of monetary, exchange rate or public debt management policy in accordance with Article 6(1) of the Market Abuse Regulation, transactions, orders or behaviour carried out in accordance with Article 6(2) thereof, activities in pursuit of the European Union’s climate policy in accordance with Article 6(3) thereof, or activities in pursuit of the European Union’s Common Agricultural Policy or of the European Union’s Common Fisheries Policy in accordance with Article 6(4) thereof.

(b) Paragraph (a) shall not apply to persons working under a contract of employment or otherwise for the entities referred to in the said paragraph where those persons carry out transactions or orders, or engage in behaviour, directly or indirectly, on their own account.

(4) Article 8 shall also apply to:

(a) spot commodity contracts that are not wholesale energy products, where the transaction, order or behaviour has an effect on the price or value of a financial instrument referred to in sub-article (1);

(b) types of financial instruments, including derivative contracts or derivative instruments for the transfer of credit risk, where the transaction, order, bid or behaviour has an effect on the price or value of a spot commodity contract where the price or value depends on the price or value of those financial instruments;

(c) behaviour in relation to benchmarks.

(5) This Act applies to any transaction, order or behaviour concerning any financial instrument as referred to in sub-articles

(1) and (4), irrespective of whether or not such transaction, order or behaviour takes place on a trading venue.