HSBC Expat Banking Terms and Conditions for the AssetMaster service These terms and conditions (the “Terms and Conditions”), together with your application form and any schedule(s), supplemental terms and accompanying documents (this “Agreement”), set out the terms on which we will provide services to you. 2 Contents Sections: Definitions 4 Nominee Arrangement 4 Services 5 Provision of Services 5 Client Assets 5 Cash 5 Reports, Statements and Information 5 Instructions 6 Liability 6 Your Responsibilities 6 Fees and Expenses 6 Termination of this Agreement 6 Death 7 Joint Agreements 7 Liens 7 Right of Set-off 7 Variation of Agreement 7 Third Party Rights 7 Proper Law Form 7 Your Information 7 Your Information 7 HSBC policy on conflicts of interest 9 Important Information 9 3 1. Definitions Nominee means HSBC Bank Nominee (Jersey) Limited, our wholly-owned subsidiary which we appoint as our Account means your designated AssetMaster account nominee to hold your investments; opened for the purposes of holding your Shares in the name of the Nominee in accordance with this Agreement; Nominee Arrangement has the meaning set out in clause 2 below. Application means the form completed by you applying to open an Account; Personal Data means any information relating to an individual from which they can be identified. Authorities includes any judicial, administrative, public or regulatory body, any government, any Tax Authority, Privacy Notice means our privacy notice which explains securities or futures exchange, court, central bank or law how we collect, use, disclose, transfer and store your enforcement body, or any of their agents with jurisdiction information and also sets out your rights in relation to your over any part of the HSBC Group. information, a copy of which is available on our website at http://www.expat.hsbc.com/1/PA_ES_Content_Mgmt/ Channel Islands means Jersey and Guernsey; content/hsbc_expat/pdf/en/important_documents/HSBC_ Client Asset Order means the Financial Services Privacy_Notice_Expat.pdf or which is available, in hard copy (Investment Business) (Client Assets)) (Jersey) Order 2001 via email or in branch, on request. (as amended from time to time) which is available for Services includes (a) the opening, maintaining and closing review or download from www.jerseyfsc.org; of your bank accounts, (b) providing you with credit facilities Client Money is defined in Article 3 of the Client and other banking products and services (including, for Asset Order; example, investment or other financial advice, discretionary Commission Based Investments means those Shares for investment management, investment dealing, broker, which the annual management charge (AMC) includes both agency and custodian services), processing applications, the product provider’s charge for managing the investment credit and eligibility assessment, and (c) maintaining our and commission paid to us; overall relationship with you, including marketing services or products to you, market research, insurance, audit and Compliance Obligations means obligations of the HSBC administrative purposes. Services includes all services Group to comply with: (a) Laws or international guidance provided to you in connection with your Advice Agreement. and internal policies or procedures, (b) any demand from Authorities or reporting, disclosure or other obligations Share or Shares means such units and/or shares in under Laws, and (c) Laws requiring us to verify the identity collective investment schemes and rights conferred of our customers. by policies of life insurance or other forms of asset (or investment) as determined by us from time to time, held Connected Person means a person or entity (other than or to be held in our name, or in the name of the Nominee, you) whose information (including Personal Data or Tax which we shall from time to time allow to be deposited, Information) you provide, or which is provided on your sold or transferred pursuant to this Agreement; behalf, to any member of the HSBC Group or which is otherwise received by any member of the HSBC Group in Substantial Owners means any individuals entitled to connection with the provision of the Services. A Connected more than 10% of the profits of or with an interest in more Person may include, but is not limited to, any guarantor, than 10% of an entity either directly or indirectly. a director or officer of a company, partners or members Tax Authorities means Jersey or foreign tax, revenue or of a partnership, any “Substantial Owner”, “Controlling monetary authorities Person”, or beneficial owner, trustee, settlor or protector Tax Certification Forms means any forms or other of a trust, account holder of a designated account, payee documentation as may be issued or required by a Tax of a designated payment, your representative, agent or Authority or by us from time to time to confirm your tax nominee, or any other persons or entities with whom you status or the tax status of a Connected Person. have a relationship that is relevant to your relationship with the HSBC Group. Tax Information means documentation or information about your tax status and the tax status of any owner, Controlling Persons means individuals who exercise Controlling Person, Substantial Owner or beneficial owner. control over an entity. For a trust, these are the settlor, the trustees, the protector, the beneficiaries or class of We, us and our means the HSBC Bank plc, Jersey Branch beneficiaries, and anybody else who exercises ultimate trading as HSBC Expat; and effective control over the trust, and for entities other than You and your means the person(s) who signed the a trust, these are persons in equivalent or similar positions application form to open an Account and agree to these of control. Terms and Conditions. Customer Information means your Personal Data, 2. Nominee Arrangement confidential information, and/or Tax Information or that of a Connected Person. 2.1 All Shares purchased or held pursuant to an investment through the AssetMaster service shall be acquired and/ Financial Crime means money laundering, terrorist or held (as applicable) by the Nominee. Accordingly, for financing, bribery, corruption, tax evasion, fraud, evasion of all investors, the legal title to those Shares will be held economic or trade sanctions, and/or any acts or attempts to by the Nominee with the direct beneficial interest in the circumvent or violate any Laws relating to these matters. Shares held by us (the “Nominee Arrangement”). We HSBC Group means HSBC Holdings plc, its subsidiaries, acknowledge you have made an investment in a Fund via associated and affiliated companies. the AssetMaster service and we consider you to be the ultimate beneficial owner of the relevant Shares held by the Laws include any local or foreign law, regulation, codes of Nominee. The Shares will not be sold or amended, in whole practice, guidance notes, judgment or court order, voluntary or in part, without your authority or without due notice code, sanctions regime, agreement between any member having been given to you in writing. of the HSBC Group and an Authority, or agreement or treaty between Authorities and applicable to us or a member of 2.2 This arrangement provides you with a single point of the HSBC Group. contact in respect of your Application and your Shares and is therefore intended to simplify the administration of Nominated Account means your HSBC Expat bank your holdings. account which you nominate for use with this service (you may change your Nominated Account to another HSBC 2.3 You will receive half yearly statements regarding your Expat bank account in your name by letting us know in Shares. The information on the statement will comprise writing, by telephone or by secure eMessage); of the following: 4 • The number and valuation of the Shares; and (whether or not having the force of law) requiring us to take or refrain from action; • A summary of transactions and changes to the Shares during the period. b) steps to make payment on your behalf of any taxes or duties payable on, or in respect of the Shares; 3. Services c) in the absence of or a delay in receiving instructions 3.1 You hereby appoint and authorise us to perform any or all of from you in response to a notification and request in the following nominee services: accordance with Clause 3.1(c), to act or refrain from a) to hold Shares in the name of the Nominee; acting in accordance with the default option as specified b) to sell or to arrange to sell Shares held subject to this in the notification and request; Agreement and to deal with the proceeds in accordance d) steps to return to you Shares which may not have the with your instructions; and same serial number or identification as those originally c) to collect any distributions, interest payments and other deposited with or received by us. entitlements accruing to your Shares and to process 5. Client Assets and credit such accruals to you in accordance with 5.1 Your Shares will be segregated from our property in your instructions. order to protect your interests in the event that we or the 3.2 We reserve the right to refuse to perform any or all of the Nominee fail. However, the title to any of your Shares will services set out in Clause 3.1 if, in our opinion, there are be registered in the name of the Nominee. We remain reasonable grounds for such refusal. Unless prohibited responsible for the safekeeping of your Shares in your from doing so, we will notify you if we intend to exercise account to the full extent required by the Client Asset our rights under this Clause 3.2 and tell you the reasons for Order. We are responsible to you for the acts and omissions such refusal.