FINANCE (1909 10) ACT 1910 - SECT 78 Obligation to execute contract note.

	[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here: BAILII >> Databases >> Northern Irish Legislation >> FINANCE (1909 10) ACT 1910

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

FINANCE (1909 10) ACT 1910 - SECT 78

Obligation to execute contract note.

78.(1) Any person who effects any sale or purchase of any stock or marketable
security of [a value exceeding #100] as a broker or agent, and any person who
by way of business deals, or holds himself out as dealing, as a principal in
any stock or marketable security, and buys or sells any such stock or
marketable security of [a value exceeding #100], shall forthwith make and
execute a contract note, and transmit the note to his principal, or to the
vendor or purchaser of the stock or marketable security, as the case may be,
and in default of so doing shall incur a fine of twenty pounds: Provided that
this section shall not apply in the case of transactions carried out in the
course of their ordinary business relations between members of stock exchanges
in the United Kingdom.

(2) If any person makes or executes any contract note chargeable with duty not
being duly stamped, he shall incur a fine of twenty pounds.

(3) No broker, agent, or other person shall have any legal claim to any charge
for brokerage, commission, or agency, with reference to the sale or purchase
of any stock or marketable security of [a value exceeding #100], if he fails
to comply with the provisions of this section.

(4) All stamp duties on a contract note are to be denoted [either by an
impressed stamp or] by an adhesive stamp appropriated to a contract note, [and
any such adhesive stamp] is to be effectively cancelled by the person by whom
the note is executed by writing on or across the stamp his name or initials,
or the name or initials of his firm, together with the true date of his so
writing.

(5) Any stamp duty on a contract note may be added to the charge for brokerage
or agency, and shall be recoverable as part of such charge.

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/f190910a191066/s78.html

Northern Irish Legislation

FINANCE (1909 10) ACT 1910 - SECT 78