SUMMARY OF AMENDMENTS TO EASYEQUITIES TERMS AND CONDITIONS
1. Our EasyEquities Terms and Conditions (the Contract) have been amended. This notice contains a summary of the latest changes to the Contract.
2. The definitions used in the explanations of the material amendments below are the same definitions used in the Contract.
3. Material amendments made to the Contract
3.1 A new definition at clause 2.1(54) has been added to the Agreement to clarify that we may prevent the withdrawal of certain funds from your account during a Lock Period for any reason in our sole discretion.
3.2 Clause 4.2.1(3) has been amended so that you warrant that you will not place any Trade which violates laws against market manipulation including insider trading, or entering into orders to buy or sell Securities which involve no change in the beneficial ownership of those Securities, or effecting or assisting a market corner.
3.3 Clause 5.3 has been updated due to FICA requirements in terms of which we may need to apply ongoing measures to monitor the transactions in your Account and request additional information where necessary.
3.4 Clause 9.1 has been amended to stipulate that when placing any Telephone Trading Instructions, you must first answer all of the security questions we ask you, to our satisfaction. We may request that when you give a Telephone Trading Instruction, you provide us with any further information we may require in our discretion.
3.5 Clause 10.6 broadens our right to cancel your Trades in Whole Securities if the Recognised Exchange or the CSD refuses, fails or is unable to confirm, execute, clear and/or settle your Trade for any reason. Furthermore, where such Recognised Exchange or CSD cancels or rejects the Trade or cancels or rejects the delivery or receipt of any cash or Securities, we may also cancel your Trade in Whole Securities.
3.6 Clause 23.2 (6) and (12) has been amended to incorporate the new CSDP and the definition thereof. Computershare is now replaced by Societe Generale -Johannesburg Branch.
3.7 Clause 18.2 has been amended to cater for payments made by cheque, cash deposit or electronic funds transfer. In these circumstances, your payment may reflect in your Account, but you will not be able to use those funds for any Trading on the EasyEquities Platform for at least 14 Calendar Days following the payment, or until such time as we decide otherwise.
3.8 Clause 21.1(6) has been deleted as all of the Corporate Actions which apply to the Issuer Securities included in your Baskets and Bundles will be paid and/or delivered straight into the relevant Basket or Bundle.
3.9 At Clause 26.5 we have clarified that you may not withdraw funds standing to the credit of your Account during a Lock Period.
3.10 Clause 42.4 has been removed as Fractional Security Rights traded on the EasyEquities Platform are not speculative instruments and cannot be Traded to give effect to corporate finance activities.
3.11 Clause 6.9 of Annexure C now states that the surety of a Minor may be released from the suretyship when the Minor attains the age of majority and provides us with a copy of his or her identification document, proof of income and employment.
3.12 Certain other definitional, typographical and clarificatory amendments have been made, although these constitute minor adjustments.
4.1 Having regard to the abovementioned changes, we wish to inform you that the new EasyEquities Terms and Conditions (New Contract) will take effect 10 (ten) Business Days after the date on which they are delivered to you and/or published on the Website (22/09//2017) and that, after the effective date, our relationship and your Trades will be governed by this New Contract.
4.2 If you are not in agreement with the New Contract, you may give us 10 (ten) Business Days written notice to cancel the current Contract and discontinue using our services by sending an email to email@example.com which notice must be received by us on or before the effective date. We will assist you with either closing out your Trades or transferring your securities to another broker during the 10 (ten) Business Day notice period, whichever is applicable. However, you will not be allowed to enter into any new Trades during the notice period.
4.3 If you do not give notice to cancel the current Contract and close your Account on or before the effective date, then you are deemed to have accepted the New Contract and if you continue to engage in any Trading using the EasyEquities Platform after the effective date you agree to be bound by the terms and conditions of the New Contract.
4.4 Please feel free to contact us if you have any queries.
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