(1) 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 the capacity of personal representative of a dead dealer.

(2) A dealer must, in respect of a transaction of sale or purchase of securities, immediately give a contract note that complies with subsection (3) to:

(a)

where the transaction took place in the ordinary course of business on 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

(b)

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

(3) A contract note given by a dealer under subsection (2) must specify:

(a)

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

(b)

each securities exchange (if any) of which the dealer is a member; and

(c)

if the dealer is dealing as principal with a person who is not the holder of a dealers licence—that the dealer is so dealing; and

(d)

the name of the person to whom the dealer gives the contract note; and

(e)

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

(f)

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

(g)

the price per unit of the securities; and

(h)

the amount of the consideration; and

(j)

the amount of commission charged; and

(k)

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

(m)

if an amount is to be added to, or deducted from, the settlement amount in respect of the right to a benefit bought or sold together with the securities—the first-mentioned amount and the nature of the benefit.

(4) A dealer must not include in a contract note given under subsection (2), as the name of the person with or for whom the dealer has entered into the transaction, a name that the dealer knows, or could reasonably be expected to know, is not the name by which that person is ordinarily known. (5) A reference in this section to a dealer dealing, or entering into a transaction, as principal includes a reference to a person:

(a)

dealing or entering into a transaction on behalf of an associate of the dealer; or

(b)

dealing in securities on behalf of a body corporate in which the dealer has a controlling interest; or

(c)

where the dealer carries on business as a dealer in partnership—dealing in securities on behalf of a body corporate in which the dealer's interest and the interests of the dealer's partners together constitute a controlling interest.

(6) For the purposes of this section:

(a)

a dealer who is a member of a securities exchange is not taken to have entered into a transaction as principal merely because the transaction was entered into with another dealer who is a member of a securities exchange; and

(b)

a transaction takes place in the ordinary course of business on a stock market if it takes place in prescribed circumstances or is a transaction that is a prescribed transaction for the purposes of this section.

(7) Despite Division 2 of Part 1.2, a person is not an associate of another person for the purposes of this section merely because the first-mentioned person is:

(a)

a partner of the other person otherwise than because the first-mentioned person carries on a business of dealing in securities in partnership with the other person; or

(b)

a director of a body corporate of which the other person is also a director, whether or not the body corporate carries on a business of dealing in securities.