237LUse of inside information for wagering

237L Use of inside information for wagering (a) the person possesses information in connection with an event or contingency; and (b) the information is inside information; and (i) wagers on the event or contingency; or (ii) encourages another person to wager on the event or contingency in a particular way; or (iii) communicates the information, or causes the information to be communicated, to another person whom the first person knows or ought reasonably to know would or would be likely to wager on the event or contingency. (2) For subsection (1)(b), information in connection with an event or contingency is inside information if it is not generally available and, if it were generally available, would or would likely influence persons who commonly wager on the event or contingency in: (a) deciding whether or not to wager on the event or contingency; or (b) making any other decision to wager on the event or contingency. (3) For subsection (2)(b), information is generally available if: (a) it consists of matter that is readily observable by the public; or (b) it has been made known in a manner that would, or would be likely to, bring it to the attention of the public; or (c) it consists of deductions, conclusions or inferences made or drawn from information mentioned in paragraph (a) or (b). Criminal Code Act 1983 249 (4) In proceedings for an offence against subsection (1)(c)(ii) or (iii), it is not necessary to prove that the person encouraged to wager, or to whom information was communicated, actually wagered on the event or contingency concerned.