Securities Industry Act - The Bahamas Laws On-Line - The ...

CH.363 – 52]
SECURITIES INDUSTRY
Transfer of
securities.
(b) state the price at which the sale or purchase was
effected and the commission charged in connection
therewith and any other proper charges;
(c) identify the broker-dealer involved in the sale or
purchase;
(d) where the broker-dealer is selling or buying as
principal, state that fact; and
(e) contain such further particulars as may from
time to time be required by the Commission.
(3) No broker-dealer or any other person shall have
any legal claim to any commission or other fees with
respect to the sale or purchase of any security where there
is failure to comply with this section, except where such
failure is beyond the control of the broker-dealer or any
other person, as the case may be.
79. (1) Notwithstanding any provision of this Act or
any other law of the Bahamas to the contrary —
(a) listed securities shall be transferred by means of
an instrument in the prescribed form (to be
called the “Security Transfer Form”) executed
by the transferor only and specifying the
particulars of the consideration, the description
and number or amount of the securities, the
person by whom the transfer is made, and the
full name and address of the transferee;
(b) where listed securities represented by a single
certificate are purchased by more than one
person; in addition to the Security Transfer
Form, instruments in the prescribed form (to be
known as “Brokers Transfer Form”) shall be
executed in respect of each transferee identifying
the transferor, the security transferred, and
specifying the securities to which each such
instrument relates and the consideration paid
by each transferee for those securities.
(2) Notwithstanding any provision of the Stamp Act
or any other law to the contrary, stamp duty shall not be
payable in respect of the transfer of any security under this
section.
STATUTE LAW OF THE BAHAMAS [Original Service 2001]