| 1.
|
Definitions |
 |
| 1.1 |
“Account”
means an ISA or a Nominee trading account, managed
by us. |
|
| 1.2 |
“Account
Charges” means our charges in respect of this
agreement as published from time to time. |
| 1.3 |
“Agreement
Documents” shall mean this agreement, our brochure(s)
providing information on Accounts and our application
form and any other document published by us and delivered
or made available to you which is expressed to contain
terms and conditions of this agreement in each case
as amended from time to time. |
| 1.4 |
“Contract
Note” means a written record giving details
of a Transaction. |
| 1.5 |
“Execution
Only” means a Transaction undertaken on behalf
of an Execution Only Investor. |
| 1.6 |
“Execution
Only Investor” means a person who gives Transaction
instructions without receiving advice from us. |
| 1.7 |
“FSA”
means the Financial Services Authority or its successor. |
| 1.8 |
“ISA”
means an Investor’s Individual Savings Account
as shown on your application form. |
| 1.9 |
“Market”
means the London Stock Exchange plc or such other
recognised stock exchange on which an investment is
quoted. |
| 1.10 |
“Nominee”
means JIM Nominees Limited or any other authorised
nominee that we may from time to time nominate or,
for certain investments that are subject to the law
or market practice of a jurisdiction outside the UK,
a custodian appointed by us. |
| 1.11 |
“Regulations”
means the Individual Savings Account Regulations 1998
as amended from time to time. |
| 1.12 |
“Rules”
means the rules of the FSA as amended. |
| 1.13 |
“Settlement
Date” means the date by which cleared Settlement
Monies are to be received following a Transaction,
as specified in the Contract Note or as notified to
you at the time of your instruction. Unless otherwise
requested at the time of placing your instruction
all settlements dates will be in accordance with the
LSE rolling settlement period. |
| 1.14 |
“Settlement
Monies” means the payment due from you to us
as a result of a Transaction as specified in the Contract
Note. |
| 1.15 |
“this
agreement” shall mean the agreement between
you and us relating to the Account as constituted
by the Agreement Documents. |
| 1.16 |
“Transaction”
means the purchase or sale of investments in connection
with an Account. |
| 1.17 |
“we”
means Shargain Ltd an appointed representative of
Jarvis Investment Management plc registered in England
with company number 1844601 registered office 78 Mount
Ephraim, Tunbridge Wells, Kent, TN4 8BS, the Account
manager, or, where we have assigned this agreement,
the person to whom we have assigned this agreement
and “us” and “our” shall have
the corresponding meaning. |
| 1.18 |
“you”
means the beneficial owner of the Account and “your”
shall have the corresponding meaning. |
| 2 |
Appointment |
| 2.1 |
We are authorised
and regulated by the FSA in the conduct of our investment
business. |
| 2.2 |
We are approved
by HM Revenue & Customs as an ISA Account manager
under the Rules and Regulations. |
| 2.3 |
Provided that
your application is approved by us your Account will
open upon receipt by us of a duly completed application
together with payment of your initial subscription.
|
| 2.4 |
Subject to
the Rules and Regulations we may open an Account provisionally
where the information you have supplied is insufficient.
Where we open an Account provisionally you shall supply
us with the missing information within 30 days, otherwise
the Account will be voided in accordance with HM Revenue
& Customs requirements with the relevant assets
held in your name outside the Account. |
| 2.5 |
Your Account
application will cover the current tax year and each
subsequent tax year until we receive no subscription
for a full tax year. You shall inform us immediately
if you cease to be a UK resident for tax purposes,
or if being a non-resident you cease to either perform
duties which, by virtue of Section 28 of Income Tax
(Earnings & Pensions) Act 2003 (Crown employees
serving overseas), are treated as being performed
in the UK, or be married to, or in civil partnership
with, a person who performs such duties. In the case
of an ISA transfer, we will commence management of
your Account upon receipt by us of the proceeds from
your previous ISA manager. |
| 2.6 |
We will provide
Account management and administration in accordance
with the Rules and Regulations and otherwise as set
out in this agreement. |
| 3 |
Investment
Objectives |
| 3.1 |
Your investment
objective is to invest in investments which you have
selected and which are managed by us in accordance
with the Rules and Regulations and otherwise as set
out in the Agreement Documents. |
| 3.2 |
You agree
that there are no restrictions on either the type
of unit trusts in which you wish your funds to be
invested or the Market on which Transactions may be
effected. |
| 3.3 |
We will not
arrange or carry out any business in which we or any
member of our group of companies or any of our directors
or officers has a material interest without prior
written notification to you. |
| 4 |
Beneficial
Ownership |
| 4.1 |
Investments
within the Account shall at all times be beneficially
owned by you. |
| 4.2 |
All investments
held in an Account will be registered in our name. |
| 4.3 |
You warrant
that investments you instruct us to sell are beneficially
owned by you, free from any lien, charge or other
third party rights and you are entitled to sell them.
|
| 4.4 |
Investments
jointly held, can only be sold by the registered first
named holder. We will require evidence of authority
for orders from anyone other than the registered holder
of investments. |
| 4.5 |
We shall not
lend to a third party the documents of title relating
to any investment or any underlying investment held
in an ISA. |
| 4.6 |
We are entitled
to assume that any Transaction instruction which we
reasonably believe to have come from you or have been
given with your authority has been so given and we
will act on your instructions. We will not be liable
for any loss, cost liability or expense which may
arise in acting on instructions which are subsequently
discovered not to have been given by you or with your
authority. |
| 4.7 |
Transaction
instructions concerning the purchase and sale of investments
are on an Execution Only basis and consequently we
shall not be responsible in the circumstances of a
sale of investments for ensuring that you have any
particular number or type of securities in your Account
at any particular time including at any Settlement
Date. |
| 5 |
Monies
Held |
| 5.1 |
Account money
accepted by us will be segregated from our other monies
and held in a designated client bank account with
HSBC Bank plc or with any other authorised institution
that we may from time to time nominate. |
| 5.2 |
Interest accrued
on Account money not immediately committed for investment
shall be calculated at 1% below the published HSBC
Bank plc Premier Account rate from time to time. Interest
accrued of less than £1.00 arising on each payment
event shall be for our benefit. |
| 5.3 |
Account money
committed for investment will be debited to the Account
at the time of a Transaction and may be transferred
to a designated client money settlement account. Interest
shall accrue for our benefit pending settlement. |
| 6 |
Investments |
| 6.1 |
To the extent
that certain securities held within the Account will
be non-certificated, no certificates will be issued
for such securities. |
| 6.2 |
Where certificates
in respect of securities within the Account are held
by us they will be held at your risk. Where any such
certificate is lost or destroyed you will be liable
to meet all costs of obtaining a replacement. Investments
purchased will be registered in the names of existing
Account holders only. |
| 6.3 |
If you are
holding certificates for investments you are selling
you must have them available at the time you contact
us as you are wholly responsible for confirming the
number and type of securities held by you and to be
sold. When buying investments you must be able to
pay the total cost of the purchase at the time we
accept your order. |
| 6.4 |
We will notify
you of any changes to any investment in the Account
resulting from a takeover or other offer or scheme
of arrangement or where rights or similar benefits
arise. |
| 6.5 |
You authorise
us to recover from HM Revenue & Customs such tax
credits on dividends that are reclaimable for the
credit of the Account. |
| 6.6 |
Where as a
result of any corporate action the denomination, type,
issuer or any other characteristic of any security
shall be altered in any way we shall not be responsible
for any suspension of trading of such securities nor
a refusal registration of any Transaction in such
securities. |
| 6.7 |
Where you
have disposed of any security with a right to receive
dividends in respect of such security you shall ensure
that any dividend payment received by you and which
is properly the property of the purchaser of such
security is forthwith forwarded to us with an indication
that the funds are due to the purchaser. |
| 7 |
Transaction
Instructions |
| 7.1 |
We will carry
out all Transactions on the basis that you are an
Execution Only Investor. Accordingly, we will not
advise on merits of a Transaction or its consequences
(including tax consequences). The Account may not
be suitable for all investors. If you are in doubt
about the merits of buying or selling investments
or the consequences (including tax consequences) of
doing so you should consult a suitably qualified professional
adviser. |
| 7.2 |
Transaction
instructions will be accepted on an Execution Only
basis over the telephone, in writing, by fax, email
or via our designated website. We will not accept
Transaction instructions via voicemail or text messages. |
| 7.3 |
Transaction
instructions will be executed as soon as reasonably
practicable, in due turn, on the same dealing day
provided the relevant Market is trading within our
business hours. |
| 7.4 |
Transaction
instructions for the purchase and/or sale of different
investments will be treated as separate Transaction
instructions. |
| 7.5 |
We may (in
our absolute discretion) decline to accept any order
or having accepted it, refuse to act on it without
informing you of our reasons for doing so or responsibility
for any loss you may incur through our actions. Once
we have accepted an order for immediate execution
it cannot be amended or cancelled. |
| 7.6 |
Transaction
instructions are accepted “at best” unless
otherwise stated by you and will be executed in the
Market at the most favourable price available to us
at the time they are dealt. Unless we have given you
a firm quote we will not be responsible for any change
in prices between accepting and executing your Transaction
instructions. |
| 7.7 |
Limit orders
may be accepted which set a price above which you
will not purchase and below which you will not sell.
Limit orders for trades on the London Stock Exchange
will be monitored by us only between the hours of
8.00am - 4.30pm daily up to and including the Friday
immediately following the day on which the order was
placed. Limit orders for trades on another Market
will only be monitored by us on the same dealing day
during our business hours. Limit orders may be executed
automatically without further reference to you and
it is your responsibility to cancel prior to execution
any limit orders no longer required. Limit orders
will be filled on a 'best endeavours' basis. |
| 7.8 |
No short selling
is permitted on your account. You may only sell shares
that are held in our nominee or for which you have
a valid share certificate in your possession. |
| 7.9 |
If you place
a stop loss order to sell investments, we will use
our reasonable endeavours to execute the order in
accordance with its terms. However, the order is entirely
at your risk, it will be your responsibility to monitor
the order and we give no assurance that stop loss
orders will be executed. Unless you instruct us otherwise
we execute a stop loss order to the extent we are
able and may be executed automatically without further
reference to you. It is your responsibility to cancel
prior to execution any stop loss orders no longer
required. |
| 7.10 |
We may aggregate
your Transaction instructions with those of other
customers. We may execute your Transaction instructions
at the same time as executing the Transaction instructions
of other customers. |
| 7.11 |
Contract Notes
will be issued for all Transactions on the next business
day following the Transaction. If you do not receive
a Contract Note following the placing of an instruction
you must notify us immediately in order to protect
any claim you may have. |
| 7.12 |
Where a Transaction
involves the sale of securities within the Account
and the party buying such securities does not for
any reason pay the relevant settlement monies on the
appropriate settlement date we may in our absolute
discretion repurchase the securities in question and
we will not be liable for any losses or costs you
may incur as a result of this. |
| 7.13 |
We have the
right to refuse to accept any instructions given for
any Transaction. |
| 7.14 |
We shall have
a lien over all and any securities obtained as a result
of any Transaction until such time that we are paid
in full in respect of such Transaction and all and
any sums due to us from you in relation to the Account. |
| 8 |
Terms
of Payment and Settlement documentation |
| 8.1 |
Payment in
full by you to us shall be deemed not to have been
made until we have received cleared funds in respect
of the full amount outstanding. For this purpose a
cheque payment will require 4 days to clear and debit
card payments take 2 days. |
| 8.2 |
You will at
all times remain responsible for paying any and all
monies that may be due from you to us as a result
of our dealing with your Transaction requests. |
| 8.3 |
All Settlement
Monies shall be paid by you on or before the Settlement
Date. In respect of other sums arising by you our
terms of payment are net cash on or before the date
specified on your latest Statement of Account. |
| 8.4 |
If you
fail to make any payment in full on or before the
due date for payment, including without limitation,
payment of Settlement Monies on the Settlement Date,
we may:
i) charge you interest (both before and after judgment)
on the amount unpaid at the published unauthorised
overdraft rate charged by HSBC Bank plc;
ii) exercise our lien over any securities held by
us either in your Account or otherwise;
iii) charge you an administrative fee of £20.00
for late payment which shall be payable immediately
and notified to you;
iv) refuse to accept any further instructions from
you in respect of any service to be performed by
us to you including Transaction requests; and
v) sell any investment(s) bought and/or held for
you and apply the proceeds towards settling the
total amount owed by you. Any shortfall between
the amount realised in this way and your total debt
will still be due from you to us. |
| 8.5 |
If you fail
to make any payment or charge in full by the due date,
including without limitation, payment of Settlement
Monies on the Settlement Date, we may charge you for
any legal and/or administrative costs on a full indemnity
basis that we may incur attempting to recover and/or
recovering the money owed to us and such costs shall
be a debt due from you to us which must be paid by
you on our request. |
| 8.6 |
If you
fail to make any payment or charge in full on the
due date including, without limitation, payment
of Settlement Monies on the Settlement Date, you
will be liable for:
i) all losses, charges, costs, fines and penalties
you may incur as a result of such failure;
ii) any fines or charges payable by us to CREST
in respect of such failure;
iii) the costs of exercise of our lien including,
without limitation, the costs of sale and any loss
incurred by us on the sale of the security. |
| 8.7 |
All payments
and/or Settlement Monies due from you to us may be
made by a sterling cheque drawn on a UK bank account,
electronic funds transfer or by debit card. We are
not able to accept payments or Settlement Monies by
credit card. |
| 8.8 |
Once payments
and/or Settlement Monies are due to us from you we
reserve the right, in respect of debit card payments,
to immediately deduct such payments and/or Settlement
Monies using the debit card details provided to us. |
| 8.9 |
You will at
all times remain responsible for forwarding to us
by the Settlement Date any or all of the documents
that we require (including, without limitation, the
relevant share certificate(s)) in order to complete
the Transaction made in accordance with your instructions.
We will need to receive the necessary documents at
least 3 business days before settlement date if you
are to be paid on time. If we receive documents on
or after the settlement date you may be charged extra
in accordance with our Account Charges. |
| 8.10 |
If you:
i) have an insufficient number or type of investments
in your account at the Settlement Date to settle
a Transaction; or
ii) if you fail to forward to us such documents
as we require to settle a Transaction, you will
be liable for all losses, charges, costs, fines
and penalties you or we may incur as a result of
such failure, including, without limitation, any
fines or charges payable by us to CREST in respect
of the same, making good any dividends or benefits
associated with the shares sold and any losses incurred
by us in purchasing securities to meet the shortfall
incurred by any failure to provide the necessary
documentation in time or at all. In addition, a
late document delivery charge as set out in our
Account Charges tariff will be incurred for which
you will be liable. |
| 8.11 |
Where clause
8.10 applies we reserve the right to purchase replacement
investments in connection with such Transaction
to discharge our obligations under the sale Transaction
entered into on your behalf and the following will
apply:
i) if such investments are purchased for a lower
value than the amount of monies relating to the
sale Transaction we shall be entitled to retain
for our benefit this additional value. We shall
not be required to apply it against an other monies
or liability that you may have to us;
ii) if such investments are purchased for a higher
value than the amount of monies relating to the
sale then the difference between the sale and purchase
price shall become a debt due from you to us and
shall be payable immediately. In addition, our Account
Charges and the costs of making any such replacement
shall apply. |
| 8.12 |
We reserve
the right at our sole discretion to grant to you trading
limits, review, revise and cancel such trading limits
at any time, seek references, request cleared funds
and/or request that any relevant share certificates
be provided by you at any time before a Transaction. |
| 8.13 |
We reserve
the right to refuse to accept instructions to conduct
any Transactions and/or suspend any Transactions if
they would or are likely to result in you exceeding
your trading limit or if your trading limit is already
exceeded. |
| 9 |
Custody |
| 9.1 |
Your investments
will be pooled with investments held for other investors.
This means that your investments will not be identified
by separate share certificates. If our Nominee defaults
and, for example, is not holding enough investments
to satisfy its obligations to all its investors, the
investments will be shared out among them approximately
in proportion to their holdings. This will not affect
your other legal rights. |
| 9.2 |
Dividends,
interest payments and cash entitlements due to you
will be paid promptly to your Account. We will only
accept dividends in cash unless we agree otherwise. |
| 9.3 |
Unless we
agree otherwise, dividends, interest payments and
cash entitlements received in a currency other than
sterling will be converted to sterling as soon as
reasonably practicable but not normally later than
the business day after receipt and be paid promptly
to your Account. We may recover any foreign currency
negotiation costs in accordance with clause 12.3.
The exchange rate used will be the appropriate prevailing
commercial rate available from our bankers. We will
round down the converted dividends, interest payments
and cash entitlements and may keep any amounts arising
out of this rounding process for our own account. |
| 10 |
Account
Information and Provision of Documents |
| 10.1 |
We shall provide
you with a half-yearly statement. This will show details
of all Transactions effected during the previous six
months and will include a valuation of the investments
in the Account based on the mid price applicable and
in the case of unit trusts, based on our published
mid price, and the balance of cash held within the
Account. This statement will be prepared in accordance
with the Rules and Regulations and will be issued
within 25 business days after the end of the period
to which the statement relates. |
| 10.2 |
You will have
the right to inspect copies of your Contract Notes,
vouchers and entries in our books or computerised
records relating to Account Transactions on reasonable
notice during business hours. |
| 10.3 |
We shall retain
records of Transactions for six years. |
| 11 |
Your
Rights |
| 11.1 |
To the extent
required by the Rules and Regulations and if requested
by you in writing, we shall arrange for you to receive
free of charge the annual report and accounts and
any other information issued to shareholders, unit
holders and securities holders in respect of each
investment held in your Account. |
| 11.2 |
If
requested by you in writing, we will (subject to any
provisions made by or under the Rules or Regulations)
use reasonable endeavours to make arrangements to
enable you to attend and vote at a shareholders, unit
holders or securities holders meetings. You will appreciate
that circumstances outside our control may mean that
your attendance is not possible. We will not be liable
where this is the case. |
| 12 |
Charges
and Expenses |
| 12.1 |
You will pay
to us a fee for our services in accordance with our
published rate of Account Charges from time to time.
Details of the rates of Account Charges are available
from us on request. |
| 12.2 |
Unless we
agree otherwise, you authorise us to collect any Account
Charges owing to us in accordance with clause 12.1
or other charges out of any cash we hold for you and
if we hold no or insufficient cash, we may sell your
investments or collect any charges owing to us on
an accrued basis out of any money deposited in your
Account at a later date. We are under no obligation
to provide you with an invoice relating to the charges
owing to us unless requested. |
| 12.3 |
In addition,
we shall be entitled to collect any fees, foreign
currency negotiation costs, stamp duty and value added
tax incurred in connection with all investments and
the administration of your Account in accordance with
clause 12.2. |
| 12.4 |
If we receive
any commission or any other form of benefit from another
intermediary or unit trust manager details will be
disclosed to you on request. |
| 13 |
Liability |
| 13.1 |
By close of
business on the next business day following your instructions
we will send you a Contract Note. We shall not be
responsible for any loss or damage or depreciation
in value of the Account if you fail to promptly notify
us that you did not receive a Contract Note or you
do not agree with the details on the Contract Note
within 7 days of placing an instruction with us. |
| 13.2 |
We shall not
be responsible for any loss or damage or depreciation
in value of the Account or for its failing to produce
a return on capital invested howsoever arising except
insofar as the loss, damage or depreciation results
directly from the fraud or wilful default or neglect
of the Account manager or by reason of breach of any
of the Rules or Regulations. |
| 13.3 |
Without prejudice
to clauses 13.1 and 13.2 above we shall not be responsible
for any loss or damage or depreciation in value of
the Account resulting from matters beyond our control
including, but not limited to, the failure, malfunction
or breakdown of telecommunications or computer equipment
or the action or inaction of any third party. |
| 13.4 |
You acknowledge
that the value of, and income from, any investment
in the Market may fall as well as rise and you may
not get back the amount originally invested. |
| 13.5 |
Save to the
extent as may be otherwise prohibited by law and/or
the Rules and Regulations we shall not be responsible
for any loss or damage resulting from the loss or
destruction of certificates in respect of securities
within the account which are held by us howsoever
occurring. |
| 14 |
Changes
in your Status |
| 14.1 |
You shall
promptly notify us of any change of address or in
United Kingdom taxation status which may render you
ineligible to subscribe further to the Account. |
| 15 |
Subscriptions,
Withdrawals, Terminations and Transfers |
| 15.1 |
Subscriptions
may be made at any time to your Account subject to
the maximum annual subscription permitted by the Rules
and Regulations. |
| 15.2 |
Subject to
the Rules and Regulations, the settlement of outstanding
investment transaction(s), and any tax liabilities,
charges and expenses, you may transfer your ISA or
withdraw part or all of the investments in your Account
at any time by giving us written instructions. Such
transfer or withdrawal will take place as soon as
reasonably practicable and in any event within 30
days of receipt of your request. |
| 15.3 |
In the event
of a withdrawal, termination or transfer of your Account
any annual Account Charges paid to us will not be
repaid to you whether in whole or in part. |
| 15.4 |
You shall
be entitled to transfer your ISA or make withdrawals
without restriction. |
| 15.5 |
We shall be
entitled, in the case of your discretionary ISA Account
to make purchases and sales without restriction. |
| 15.6 |
Without prejudice
to any other term of this agreement either you or
we may terminate this agreement without penalty by
giving written notice of not less than 7 days to the
other party whereupon (and subject to payment for
outstanding Transactions, accrued fees and expenses
and for sums due under the Regulations) we shall forthwith
transfer or procure the transfer of the Account’s
investments to you or at your direction. |
| 15.7 |
We may complete
your Transactions that we started before we received
your notice. |
| 15.8 |
At your request
the Account and all rights and obligations of the
parties hereto may be transferred to another account
manager within 30 days of you giving notice in writing
to us. Cash transfers of less than £5.00 will
be accrued to our benefit. Following the initial transfer
any subsequent residual cash will be sent by cheque
to the account holder. |
| 16 |
Death |
| 16.1 |
Should you
die your Account will cease to be exempt from tax,
and the assets will be held by us awaiting instruction
from your personal representatives, who may direct
that the units be sold or that the units be registered
in the names of the appropriate beneficiaries, subject
to any restrictions relating to minimum holdings.
|
| 16.2 |
We will comply
with the reasonable requests of your personal representatives
provided that such requests comply with the Rules
and Regulations. Prior to any transfer that may result
following your death we shall be entitled to deduct
all amounts owing in respect of Transactions, accrued
Account Charges and expenses and sums owing under
the Rules and Regulations and we shall be allowed
to sell investments in the Account to raise any amount
owing. |
| 17 |
Records
of Your Account |
| |
We shall maintain
all records relating to your Account, make such returns
to HM Revenue & Customs for the purposes of taxation
as we are required to do by the HM Revenue & Customs,
and provide all taxation details to you, as may be
required under the Rules and Regulations. |
| 18 |
Delegation
of Functions |
| |
We may appoint
a third party to act in respect of any function relevant
to the administration of your Account, but we shall
first satisfy ourselves that any such third party
is competent to carry out such functions. |
| 19 |
Assignment |
| |
Subject to
the Rules and Regulations, we may assign this agreement
and/or appoint another company to be the manager of
your Account under these terms and conditions on giving
you one month’s notice. The party to who we
assign this agreement and/or the new manager of your
Account must be approved to act as an ISA manager
by HM Revenue & Customs. |
| 20 |
Complaints |
| 20.1 |
If you wish
to make a formal complaint please write setting out
the precise nature of your grievance to “The
Compliance Officer”, Sharegain Ltd, 78 Mount
Ephraim, Tunbridge Wells, Kent, TN4 8BS. If we are
unable to resolve any complaints to your satisfaction
you may contact the Financial Ombudsman Service at
South Quay Plaza, 183 Marsh Wall, London E14 9SR. |
| 20.2 |
If you wish
to verify a complaint, you may request a copy of our
recordings or electronic files of telephone conversations
between you and us on payment of a fee of £25.00
plus VAT per call. This charge will be reimbursed
to you if we are found to be at fault. |
| 20.3 |
If we cannot
meet our liabilities to you, you may be entitled to
compensation from the Financial Services Compensation
Scheme, details are available from us on request. |
| 21 |
Data
Protection and Communication |
| 21.1 |
We may make
your name and address available to other companies
to enable information about investment or other services
to be sent to you, by letter, telephone or other reasonable
means of communication. This will not apply if you
inform us that you do not wish to receive this information. |
| 21.2 |
When you speak
to us on the telephone, some calls may be monitored
or recorded, in case we need to check we have carried
out your instructions correctly and to help improve
our quality of service. |
| 22 |
Commission |
| |
If you subscribe
to an ISA through an independent financial adviser
we may pay commission, details of which will be provided
to you on request. You should inform us of any change
in your adviser to enable us to keep our records up
to date. |
| 23 |
Money
Laundering |
| 23.1 |
In accordance
with the Money Laundering Regulations 2007:
i) we may require verification of your identity
and may use agents to do so;
ii) we are required to make various checks on money
received by us in excess of £10,000; |
| 23.2 |
We will not
be responsible for any loss that may result from any
delay whilst your identity is verified. |
| 23.3 |
We reserve
the right to refuse any application to subscribe to
or transfer in an ISA or to open an Account without
giving a reason for so doing. |
| 24 |
Notices |
| 24.1 |
Any notice
or other communication (including contract notes and
share certificates) to be given to you by us under
or in relation to the Agreement Documents (“notice”)
shall be sent in writing to the address stated on
your application form or such address as you may subsequently
specify by notice in writing to us. Any notice shall
be deemed to have been received by you, 2 days after
we post it to you, immediately upon sending if it
is sent to you by fax or when it is received by your
internet service provider. We shall be entitled to
contact you otherwise than in writing for the purposes
of obtaining instructions in relation to the Account. |
| 24.2 |
All notices
given by you to us under this agreement must be in
writing and delivered or sent by post to Sharegain
Ltd, 78 Mount Ephraim,Tunbridge Wells, Kent, TN4 8BS
or such address as we may specify and we may act and
rely on any instruction that appears to be signed
by you. |
| 24.3 |
We shall notify
you if by reason of failure to comply with the Rules
and Regulations the Account has or will become void. |
| 25 |
Whole
Agreement and Amendments |
| 25.1 |
Except where
the Rules and Regulations and the law states otherwise,
the terms and conditions of this agreement shall be
limited to those terms and conditions set out in the
Agreement Documents. No other terms and conditions
shall apply. |
| 25.2 |
We may amend
these terms and conditions (including changes to applicable
fees and commissions) by giving you at least 30 days
notice. We will only make changes for good reason
including but not limited to: i) Making them
clearer and more favorable to you.
ii) Reflecting legitimate increases or reductions
in the cost of providing the service to you.
iii) Providing for the introduction of new systems,
services, changes in technology and products.
iv) Rectifying any mistakes that may be discovered
in due course.
v) Reflecting any change of applicable law or regulation. |
| 25.3 |
If we amend
these terms and conditions for valid reasons that
are not specified in this agreement and you are not
happy with those changes, we will waive the exisiting
Account Transfer/Closure fee should you wish to transfer
or close your account. |
| 25.4 |
Any amendment
which is made to reflect a change of applicable law
or regulation may take effect immediately or otherwise
as we may specify. |
| 26 |
English
Law |
| |
This agreement
shall be governed by English Law and shall be subject
to the jurisdiction of the English Courts. |
| |
|
RISK
WARNING
Securities that are non-exchange traded are classed
as non-readily realisable investments. You should
be aware that there is a restricted market for such
investments and that it may therefore be difficult
to deal in your investments or to obtain reliable
information about their value. We will disclose to
you any position knowingly held by Sharegain Ltd or
any of our associates in these investments. |
| |
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