55Certain transfers deemed to have been made through a broker

#### 55 Certain transfers deemed to have been made through a broker (1) A broker who makes a sale or purchase of a marketable security in accordance with an order from a person (not being a broker or a person acting for or on behalf of a broker) given to an agent or employee of the broker who carries on business on behalf of the broker in the Territory shall be deemed to have made a sale or purchase of that marketable security in accordance with an order to sell or purchase, as the case may be, given to the broker in the Territory. (2) For the purposes of this Act: (a) where a broker carrying on business in the Territory: (i) makes a sale in the Territory of a marketable security on his own account or behalf to a person who is not a broker or is not acting for or on behalf of a broker; or (ii) makes a sale of a marketable security to such a person in accordance with an order to sell given to him in the Territory; the broker shall, notwithstanding that no order to purchase was given to him, be deemed to have also made a purchase of that marketable security in accordance with an order to purchase given to him in the Territory by the person to whom he had made the sale; and (b) where a broker carrying on business in the Territory: (i) makes a purchase in the Territory of a marketable security on his own account or behalf from a person who is not a broker or is not acting for or on behalf of a broker; or (ii) makes a purchase of a marketable security from such a person in accordance with an order to purchase given to him in the Territory; the broker shall, notwithstanding that no order to sell was given to him, be deemed to have also made a sale of that marketable security in accordance with an order to sell given to him in the Territory by the person from whom he made the purchase.