(1) Provisions relating to obtaining the identification of the concerned investor, opening a customer account, making transaction of money and concluding an agreement relating to transactions by any securities business person prior to carrying on the securities business shall be as prescribed.
(2) Any securities business person shall, upon making a contract on the purchase, sale or exchange of securities, make a contract note before the closing of market on the following day, and where the securities business person has made such a contract as an agent, the original copy of the contract note shall be delivered to the concerned customer and where such person has made such a contract for himself, such a person shall mention that matter in the contract note and retain the note with him.
(3) The contract note referred to in Sub-section (2) shall contain, inter alia, the following matters:-
(a) Type of securities business and place where such business is operated,
(b) Where the securities business person him/herself has acted as the principal, details thereof,
(c) Name and address of the person to whom the contract note is given,
(d) Date of the contract and date on which the contract note is prepared,
(e) Description and quantity of securities,
(f) Per unit value of securities,
(g) Description relating to consideration payable under the contract,
(h) Amount or rate of commission payable under the contract,
(i) If any fee is chargeable, the rate of such fee and description pertaining thereto,
(j) Day on which account is settled or cleared r, e
(k) Such other matters as prescribed.