Using inside information for betting purposes is an offence under section 193Q(2) of the Crimes Act 1900, which carries a maximum penalty of 2 years in prison.
To establish the offence, the prosecution must prove beyond reasonable doubt that:
‘Conduct’ means any act or omission to perform an act.
‘Inside information’ is that which is:
Information is ‘generally available’ if it:
‘Bet’ includes placing, accepting or withdrawing a bet as well as causing a bet to be placed, accepted or withdrawn.
‘Encourage’ includes to command, request, propose, advise, incite, induce, persuade, authorise, urge, threaten or place pressure on.
‘Communicate’ includes causing to be communicated.
You were reckless if you foresaw the possibility that the information was inside information but went ahead with your actions regardless.
Duress is a defence to the charge.
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