a contract note that complies with subsection (3), (4) or (5), as the
case requires.
(2) Subsection (1) does not require a futures broker to give a contract
note to a person in respect of a transaction if the person was at the time of
the transaction the holder of a futures brokers licence.
(3) A contract note given by a futures broker under subsection (1) in
respect of a transaction, being the acquisition or disposal of a futures
contract (other than a futures option or an eligible exchange-traded option),
must include:
- (a)
- the name or style under which the broker carries on
business as a futures broker and the address of the principal place at which
the broker so carries on business; and
- (b)
- the name of the person to whom the broker gives the contract note; and
- (c)
- the day on which the transaction took place; and
- (d)
- a description of the futures contract sufficient to identify the nature of
the transaction, including:
- (i)
- in a case where the futures contract is a commodity agreementa
description of the commodity and a statement of the contract price; and
- (ii)
- in a case where the futures contract is an adjustment agreement:
(A) a description of the class of adjustment agreements in which the
futures contract is included; and
(B) a statement of the contract price; and
(C) if the transaction is the completion of the
futures contractthe value or worth (as determined
in accordance with the futures contract) of the futures
contract at the time of that completion; and
- (iii)
- in a
case where the transaction is a
liquidating tradedetails of the liquidating trade
and of the futures contract that is intended to be closed
out following the entering into of the liquidating trade;
and
- (e)
- the deposit paid or payable in respect of the transaction; and
- (f)
- the month and year for the performance or settlement of the contract; and
- (g)
- in a case where the transaction took place on a futures market of a
futures exchange or of a recognised futures exchange, or on an exempt futures
marketa name or abbreviation by which the futures exchange, recognised
futures exchange or exempt futures market, as the case may be, is generally
known; and
- (h)
- a statement of the amount of commission charged or the rate (if any) at
which ASIC was charged; and
- (j)
- a statement of the amounts (if any) of all stamp duties and other duties
and taxes payable in connection with the transaction.
(4) A contract note given by a futures broker under subsection (1) in
respect of a transaction, being the acquisition or disposal of a futures
option, must include:
- (a)
- the matters specified in paragraphs (3)(a),
(b), (c), (g), (h) and (j); and
- (b)
- a description of the class of futures contracts in which is included the
futures contract to which the futures option relates; and
- (c)
- the month and year for performance or settlement of the futures contract
to which the futures option relates; and
- (d)
- the date by which the purchaser of the futures option, in order to
exercise the futures option, must declare an intention to exercise the futures
option; and
- (e)
- a statement of the amount of the premium; and
- (f)
- details of the price at which the purchaser of the futures option has, by
virtue of the futures option, an option or Chapter 8 right to assume a
bought position, or sold position, as the case requires, in relation to the
futures contract to which the futures option relates.
(5) A contract note given by a futures broker under subsection (1) in
respect of a transaction, being the acquisition or disposal of an eligible
exchange-traded option (in this subsection called the option ), must include:
- (a)
- the matters specified in paragraphs (3)(a), (b), (c), (g), (h) and
(j); and
- (b)
- a description of the commodity or index to which the option relates; and
- (c)
- the date by which the purchaser of the option, in order to exercise the
option, must declare an intention to exercise the option; and
- (d)
- a statement of the amount of the premium; and
- (e)
- details of:
- (i)
- in a case where the option relates to a commoditythe price at which
the purchaser of the option has, by virtue of the option, an option or right
to purchase, or sell, as the case requires, that commodity; or
- (ii)
- in a case where the purchaser of the option has, by virtue of the option,
an option or right to be paid an amount of money to be determined by reference
to the amount by which a specified number is greater or less than the number
of a specified indexthe specified number and the manner in which that
amount of money is to be determined.
(6) A futures broker must not include in a contract note given under
subsection (1), as the name of a person with or on behalf of whom the
broker has entered into the transaction, a name that the broker knows, or
could reasonably be expected to know, is not a name by which that person is
ordinarily known.
(7) For the purposes of this section, a futures contract is included in the
same class of futures contracts as another futures contract if, and only if,
the first-mentioned futures contract is of the same kind as the other futures
contract.