For the purposes of the Model Code of the Listing Rules before 6 August 2007, an employee of the company, its parent undertaking or any member of its group whose name is required to be placed on an insider list in accordance with paragraph 2.8.1R of the Disclosure Rules. From 6 August 2007, the Model Code does not apply to employee insiders.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.