146. Parity of information defence

the other party to the transaction or agreement knew, or could reasonably have known, of the information before entering into the transaction or agreement;

that person acquires or disposes of such securities on such terms and in such circumstances, that –

he does not obtain any gain or avoid any loss, including an unrealized gain or unrealized avoidance of loss in price or value of the securities, as the case may be, for himself or any other person by reason of the effect that the information is likely to have when it becomes generally available; and

the purpose of the acquisition or disposal of the securities does not include any purpose of securing a gain or avoiding a loss, as the case may be, for himself or any other person by reason of the effect that the information is likely to have when it becomes generally available.

that the information came into the possession of the person so communicating the information solely as a result of it being made known in a manner likely to make it generally available pursuant to section 134; or

that the other party knew or could reasonably be expected to have known the information before the information was communicated.