Greymouth Evening Star. AND BRUNNERTON ADVOCATE. THURSDAY, SEPTEMBER 19, 1901. MINING TRANSACTIONS.
The recent sharebroking scandals exposed at Dunedin and the necessity for legislation in order to protect the honest investor from “ ways that are dark and tricks that are vaift,” has caused the Government to introduce a Bill to amend the Stamp Act which deals pretty closely with mining transfers. The measure provides that upon the sale of mining shares a seller’s contract note and a buyer’s contract note on duly stamped material, shall within 24 hours of the day of the sale be transmitted to the buyer or seller. Not more than one sale of shares shall be inserted in one contract note. Where the value of the share does not exceed £IOO, the stamp duty shall be 1/- and over that amount 2/6, and unless such a contract - note is given the contract for the sale of shares is to bo invalid. A penalty of £SO is provided for a breach of this section. A shareholder is to have no claim for brokerage unless a contract note is given. Shareholders must keep copies of all contract notes, and the Commissioner is given power to inspect the books and papers of any sharebroker or of any Stock Exchange of which the sharebroker is a member or of any mining company the seller of any shares in respect of which there is a liability. He is entitled to demand from the buyer the name of the purchase. This measure if passed will prevent irregularities like those that have caused so much trouble in Dunedin lately. ,
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Greymouth Evening Star, Volume XXXI, 19 September 1901, Page 2
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266Greymouth Evening Star. AND BRUNNERTON ADVOCATE. THURSDAY, SEPTEMBER 19, 1901. MINING TRANSACTIONS. Greymouth Evening Star, Volume XXXI, 19 September 1901, Page 2
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