ASX is on notice about manipulation of Kingsgate share price, page-311

Read the case I posted, mate. These are substantive crimes, not conspiracies. Cowbell's "relentless 10 trades to cap into the close at 1.165" is an artificial price within the meaning of the section. These are very serious crimes that are being committed in front of your face.

As Mason J explained[73]:"Transactions which are real and genuine but only in the sense that they are intended to operate according to their terms, like fictitious or colourable transactions, are capable of creating quite a false or misleading impression as to the market or the price. This is because they would not have been entered into but for the object on the part of the buyer or of the seller of setting and maintaining the price, yet in the absence of revelation of their true character they are seen as transactions reflecting genuine supply and demand and having as such an impact on the market." (emphasis added)


"Genuine supply and demand"

The forces of "genuine supply and demand" are those forces which are created in a market by buyers whose purpose is to acquire at the lowest available price and sellers whose purpose is to sell at the highest realisable price. The references in s 1041A to a transaction which has, or is likely to have, the effect of creating an "artificial price", or maintaining the price at a level which is "artificial", should be construed as including a transaction where the on‑market buyer or seller of listed shares undertook it for the sole or dominant purpose of setting or maintaining the price at a particular level. It is, however, important to emphasise that whether there are other kinds of transaction which have the effect of creating or maintaining an artificial price in a market for listed shares[74] is not, and, given the terms of the case stated, should not be, decided.'