Uncertificated Securities Tax Act, 1998 (Act No. 31 of 1998)

4. Purchase of securities through or from member

Purchase

(1)	The taxable amount in respect of any change in beneficial ownership as a result of every purchase of securities through the agency of or from any member, shall be the consideration for which the securities are so purchased.

(2)	The member shall be liable for the tax payable in respect of a change in beneficial ownership of securities contemplated in this section.