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(3.) The Committee may, at their discretion, fix a minimum price for any security, below which no sale may take place, and will, prior to the date of reopening, fix a minimum price for foreign Government and other inter- bourse securities during the period of the Emergency Rules or pending the opening of continental bourses.
4. (1.) All bargains must be for cash, and may not be continued from day to day.
(2.) No new "time bargains" or options will be allowed except in connection with existing contracts.
(3.) No dealings will be allowed in any new issue made after the 4th January, 1915, unless specially allowed by the Committee and approved by the Treasury.
5. No member will be allowed to bid for or offer stock openly in the market.
6. (1.) Every bargain, whether in quoted or unquoted securities, must be marked and officially recorded.
(2.) A broker making a sale shall sign and hand to the buyer at the time of making the bargain a slip in duplicate containing the following particulars :-
(a.) In the case of inscribed stock the name of the transferor.
(b.) In the case of registered shares or stock the numbers (if any) of
such shares or stock and the name of the transferor.
(c) In the case of securities to bearer the distinguishing numbers of
the securities.
(d.) In the case of American shares the numbers of the certificates and
the names in which they stand.
(e.) The price of the bargain.
(3.) The buyer shall forthwith sign and hand the slip in at the marking board, retaining the duplicate himself.
(4.) A dealer making a sale shall furnish the above particulars on the same day.
7. No member shall tender or accept delivery of any securities other than those specified or of any securities which are not good delivery under these regulations.
8. Arbitrage business is until further notice prohibited.
9. No securities will be a good delivery unless supported by a declaration by a banker, broker, or other responsible party that they have remained in physical possession in the United Kingdom since the 30th September and have not since the outbreak of war been in enemy ownership. Where securities have been deposited against a loan before the outbreak of war they shall be deemed for the purpose of this regulation to be in the ownership of the lender. Securities which have been transmitted abroad before the 23rd December merely for registration shall for the purpose of this regulation be deemed to have remained continuously in physical possession in the United Kingdom.
10. No securities to bearer or endorsed in blank will be a good delivery unless impressed with the Government stamp dated previous to the 1st October, and accompanied by a declaration by a banker, broker, or other responsible party that they have not since the outbreak of war been in enemy ownership, except in cases permitted under Regulation 4 (3) or securities sent for registration abroad under Regulation 9, and such other securities as may be expressly passed by the Committee as a good delivery on special cause being shown.
11. The expression "enemy" in these regulations means any person or body of persons of whatever nationality resident or carrying on business in
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an enemy country, but does not include persons of enemy nationality who are neither resident nor carrying on business in an enemy country. In the case of incorporated bodies, enemy character attaches only to those incorporated in an enemy country.
12. A broker before completing any order must obtain a declaration in writing from his client, and must fully satisfy himself that such order is not on behalf of or for the benefit of alien enemies, either directly or indirectly.
13. Any member found guilty of negligence in relation to any of the above will be brought under the Disciplinary Rules.
PRINTED AT THE FOREIGN OFFICE BY C. R. HARRISON.-30/12/1914.
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