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Article 3

Article 3

Each Member State shall prohibit any person subject to the prohibition laid down in Article 2 who possesses inside information from:

((a))

disclosing that inside information to any third party unless such disclosure is made in the normal course of the exercise of his employment, profession or duties

((b))

recommending or procuring a third party, on the basis of that inside information, to acquire or dispose of transferable securities admitted to trading on its securities markets as referred to in Article 1 (2) in fine

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