64Issue of contract notes

64 Issue of contract notes

(1A) This section applies:

(a) in relation to a dealer (other than an exempt dealer) in relation to a transaction of sale or purchase of securities; or

(b) in relation to an exempt dealer, in relation to a transaction of sale or purchase of securities that is entered into in the course of a securities business that the exempt dealer carries on in a capacity of personal representative of a dead dealer.

(1) A dealer shall, in respect of a transaction of sale or purchase of securities, forthwith give a contract note that complies with subsection (2) to:

(a) where the transaction took place in the ordinary course of business at a stock market and the dealer entered into the transaction otherwise than as principal—the person for whom the dealer entered into the transaction;

(b) where the transaction did not take place in the ordinary course of business at a stock market and the dealer entered into the transaction otherwise than as principal—the person for whom the dealer entered into the transaction and the person with whom the dealer entered into the transaction; and

(c) where the transaction did not take place in the ordinary course of business at a stock market and the dealer entered into the transaction as principal—the person with whom the dealer entered into the transaction.

(2) A contract note given by a dealer under subsection (1) shall include:

(a) the name or style under which the dealer carries on his business as a dealer and the address of the principal place at which he so carries on business;

(b) where the dealer is dealing as principal with a person who is not the holder of a dealers licence, a statement that he is so acting;

(c) the name of the person to whom the dealer gives the contract note;

(d) the day on which the transaction took place and, if the transaction did not take place in the ordinary course of business at a stock market, a statement to that effect;

(e) the number, or amount and description, of the securities that are the subject of the contract;

(f) the price per unit of the securities;

(g) the amount of the consideration;

(h) a statement:

(i) where he is a member of a securities exchange, or of a securities exchange within the meaning of the corresponding law of a participating State or of a participating Territory—specifying that securities exchange or each of those securities exchanges; and

(ii) specifying the amount of commission charged and the rate (if any) at which the commission was charged;

(j) the amounts of all stamp duties or other duties and taxes payable in connection with the contract; and