A businessman facing prosecution for contravening the Insider Trading Act, was denied access to certain information by the Constitutional Court in a judgment handed down yesterday.

Norman Murray Ingledew had sought an order from the court compelling the Financial Services Board to furnish him with certain information before he entered a plea in a case involving himself and the board.

However, the court rejected his application on the grounds that he did not require the information to plead his case, and would have access to the information and an opportunity to defend himself when the case was heard.

The essence of the original case centred around an allegation by the board that Ingledew and a fellow director of a company called Skills Accel had acquired inside information which allowed them to buy and sell shares at a profit.

That information apparently related to the appointment of certain individuals as directors of Skills Accel and the acquisition of a distribution licence. Ingledew's fellow director had already pleaded and was not part of the application to the Constitutional Court.

Ingledew claimed he was entitled, in terms of the Constitution, to see all witness statements and documents relating to the case.

The application was resisted by the Financial Services Board on the grounds that Ingledew did not require the information to plead.

In summing up Justice Sandile Ngcobo said: "The applicant seeks information for use in his insider trial. He will not be prejudiced if leave to appeal is refused".

Once the pleadings were closed the issues would be crystallised and defined.

If Ingledew felt the information he sought was relevant to the issues for trial, he could use established pre-trial discovery procedures. "He does not require information about what other interrogates said in order to determine his defence". - Sapa.