Section 32A
Obligation to execute contract note
Any person who effects any sale or purchase of any stock or marketable security as a dealer or agent, and any person who, by way of business—
(a)
deals or holds himself out as dealing as a principal in any stock or marketable security; and
(b)
buys or sells any stock or marketable security, 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.
(2)
No dealer, 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 if he fails to comply with this section.
Stamp 49