For paragraph 5 of Schedule 1 [Paragraph 5 of Schedule 1 was amended by S.I. 2001/3649 and 2005/381 and by paragraph 76 of Schedule 18 to the Financial Services Act 2012.] to the Criminal Justice Act 1993 (special defences) and the italic heading before paragraph 5 substitute -

"Buy-back programmes and stabilisation

5. An individual is not guilty of insider dealing by virtue of dealing in securities or encouraging another person to deal if he shows that he acted in conformity with -

(a) Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and each directly applicable EU regulation made under that Article;

(b) rules made under section 137Q(1) [Section 137Q(1) was inserted by section 24(1) of the Financial Services Act 2012.] of the Financial Services and Markets Act 2000.".