FINANCE (1909 10) ACT 1910 - SECT 77 Alteration and extension of duty on contract notes.

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FINANCE (1909 10) ACT 1910 - SECT 77

Alteration and extension of duty on contract notes.

77.(1) There shall be charged on every contract note as defined by this
section for or relating to the sale or purchase of any stock or marketable
security the following stamp duties:

[Where the value of the stock or marketable security

(2) Where a contract note is a continuation or carrying over note made for the
purpose of continuing or carrying over any transaction for the sale or
purchase of stock or marketable securities, the contract note, although it is
made in respect of both a sale and purchase, shall be charged with duty under
this section as if it related to one of those transactions only, and, if
different rates of duty are chargeable in respect of those transactions, to
that one of those transactions which would render the contract note chargeable
at the highest rate.

(3) For the purposes of this Part of this Act, the expression "contract note"
means the note sent by a broker or agent to his principal, or by any person
who by way of business deals, or holds himself out as dealing, as a principal
in any stock or marketable securities, advising the principal, or the vendor
or purchaser, as the case may be, of the sale or purchase of any stock or
marketable security, but does not include a note sent by a broker or agent to
his principal where the principal is himself acting as broker or agent for a
principal, and is himself either a member of a stock exchange in the United
Kingdom or a person who bona fide carries on the business of a stockbroker in
the United Kingdom, and is registered as such in the list of stockbrokers kept
by the Commissioners.

(4) Where a contract note advises the sale or purchase of more than one
description of stock or marketable security, the note shall be deemed to be as
many contract notes as there are descriptions of stocks or securities sold or
purchased.

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Northern Irish Legislation

FINANCE (1909 10) ACT 1910 - SECT 77