1. No person referred to in the second subparagraph who possesses inside information shall use that information by submitting, modifying or withdrawing a bid, for its own account or for the account of a third party, either directly or indirectly, for an auctioned product to which that information relates.
The first subparagraph shall apply to any person who possesses inside information:
(a)
by virtue of its membership of the administrative, management or supervisory bodies of the auction platform, the auctioneer or the auction monitor; or
(b)
by virtue of its holding in the capital of the auction platform, the auctioneer or the auction monitor; or
(c)
by virtue of its having access to the information through the exercise of his employment, profession or duties; or
(d)
by virtue of its criminal activities.
2. Where the person referred to in paragraph 1 is a legal person, the prohibition laid down in that paragraph shall also apply to the natural persons who take part in the decision to submit, modify or withdraw the bid for the account of the legal person concerned.
3. This Article shall not apply to the submission, modification or withdrawal of a bid for an auctioned product made in the discharge of an obligation that has become due where that obligation results from an agreement concluded before the person concerned possessed inside information.