(1) In this section -

"neglect" in connection with or in relation to a relevant instrument, means - (a) subject to paragraph (b), in the case of an instrument or a specified statement, a failure to disclose in the instrument, or as the case may be, in the specified statement, all the facts and circumstances affecting the liability to duty of such instrument or specified statement, (b) in the case of an instrument to which section 8(2) applies, as between both the instrument and the statement referred to in that section, a failure to disclose all the facts and circumstances affecting the liability to duty of such instrument, or (c) in the case of a transfer order referred to in section 78B, a failure to enter a correct transfer order in a securities settlement system within the meaning of section 78A;