Sending the list of securities on request

(1) Where the commission agent, being in a current account relationship (section 355 of the Commercial Code) with a principal, promises the principal, for the duration of the business relationship or for a limited time, that it will execute orders for the acquisition of securities for the principal, to a particular extent or without particular limitation, even without immediate settlement of the purchase price, it may reserve the right to send lists of securities only on the principal's demand.
(2) The commission agent may exercise the reservation under paragraph 1 only where it informs the principal, in text form, at the time of the notice of execution, that it will effect the sending of the list of securities, and therefore the transfer of ownership of the certificates, only on the principal's demand.
(3) Where the principal declares that it demands sending of the list of securities, the period for sending the list of securities begins at the earliest at the time when the declaration reaches the commission agent. The demand must be made in text form and must precisely designate the securities that are to be included in the list of securities.