Investment Intermediaries Act, 1995
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Issue of receipts. |
30.—Without prejudice to any codes of conduct which may be issued or approved of by a supervisory authority under section 37 of this Act, an investment product intermediary shall issue a receipt for each non-negotiable or negotiable instrument or other payment received for the purposes of transmitting an order or a deposit to a product producer and the receipt shall state succinctly the terms and conditions upon which a transaction was entered into and, without prejudice to the generality of the aforesaid, shall state clearly— | |
(a) the name and address of the person furnishing the instrument or payment; | ||
(b) the value of the instrument or payment; | ||
(c) the date of its receipt; | ||
(d) the name of the person to whom the instrument is payable; and | ||
(e) the purpose of the payment, | ||
and an investment product intermediary which fails to issue such a receipt shall be guilty of an offence. |