101. Protected Disclosures

(1) A disclosure which satisfies the following three conditions is not to be taken to breach any restriction on the disclosure of information (however imposed).
(2) The first condition is that the information or other matter —
(a) causes the Disclosing Person to know or suspect; or
(b) gives him reasonable grounds for knowing or suspecting;
that another person has engaged in Market Abuse.
(3) The second condition is that the information or other matter disclosed came to the Disclosing Person in the course of his trade, profession, business or employment.
(4) The third condition is that the disclosure is made to the Regulator or to a nominated officer as soon as is practicable after the information or other matter comes to the Disclosing Person.
(5) A disclosure to a nominated officer is a disclosure which is made to a person nominated by the Disclosing Person's employer to receive disclosures under this section, and is made in the course of the Disclosing Person's employment and in accordance with the procedure established by the employer for the purpose.
(6) For the purposes of this section, references to a person's employer include any body, association or organisation (including a voluntary organisation) in connection with whose activities the person exercises a function (whether or not for gain or reward) and references to employment must be construed accordingly.