Document ID: chunk:federal_register_of_legislation:C2025C00185:section:677
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 677
Character Range: 2703447–2704577

677  Material effect on price or value
 (1) For the purposes of sections 674 and 675, a reasonable person would be taken to expect information to have a material effect on the price or value of ED securities of a disclosing entity if the information would, or would be likely to, influence persons who commonly invest in securities in deciding whether to acquire or dispose of the ED securities.
 (2) For the purposes of sections 674A and 675A:
 (a) an entity knows information would have a material effect on the price or value of ED securities of the entity if the entity knows the information would, or would be likely to, influence persons who commonly invest in securities in deciding whether to acquire or dispose of the ED securities; and
 (b) an entity is reckless or negligent with respect to whether information would have a material effect on the price or value of ED securities of the entity if the entity is reckless or negligent with respect to whether the information would, or would be likely to, influence persons who commonly invest in securities in deciding whether to acquire or dispose of the ED securities.