A requirement of the Listing Rules. In accordance with their continuing obligations, listed companies must require persons discharging managerial responsibilities to comply with the Model Code in order to restrict their ability to deal in the listed company's shares. A listed company may impose more rigorous dealing obligations than those required by the Model Code.
Related links
Model Code
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.