National Solidarity Bond - Terms and Conditions Issue 4

Transcription

1 These terms and conditions set out the agreement between You and Us relating to Your purchase of a National Solidarity Bond (Issue 4) for a 4 year term or, 10 year term, as applicable. Key Features of National Solidarity Bond (Issue 4) 4 year bond pays a fixed total return on principal of 6% 10 year bond pays a fixed total return on principal of 30% Early redemption (full or partial) at any time No annual or other periodic payments - all principal and Bonus will be paid upon maturity or early redemption Bonus on redemption (at maturity or early redemption) is not subject to DIRT, and is exempt from Income Tax and the Bond is exempt from Capital Gains Tax in Ireland Minimum holding is 50, maximum holding per person is 250,000 A State Savings Account is not necessary to purchase this Issue 4 of the National Solidarity Bond No fees and charges PLEASE NOTE: Some of the features of this Issue 4 of the National Solidarity Bond are different to Issues 1, 2 and 3. In particular, unlike those earlier issues, there are no annual payments of interest to the bond holder under this Issue 4. Principal and Bonus are only paid to the holder upon maturity (or early redemption) of the bond. The Terms and Conditions which apply to Issues 1,2 & 3 are unchanged. National Solidarity Bonds are issued by the Minister for Finance, acting through the National Treasury Management Agency, pursuant to section 54 of the Finance Act 1970, as amended. Additional copies of these terms and conditions are available on request from Customer Service or at These terms and conditions may be amended or varied by Us from time to time in accordance with the terms and conditions set out below. Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 1 of 10

2 Index to Terms and Conditions Section 1 Definitions Section 2 Product Specific Terms and Conditions National Solidarity Bond (Issue 4) 4 years 1. Minimum and Maximum Holdings 2. Bonus 3. Term of Bond 4. Taxes on the Bond National Solidarity Bond (Issue 4) 10 years 5. Minimum and Maximum Holdings 6. Bonus 7. Term of Bond 8. Taxes on the Bond Section 3 General Terms and Conditions 9. Eligibility to purchase 10. Evidence of identity 11. Payment Methods for purchase of Bonds 12. Purchase of the 4 year or the 10 year National Solidarity Bond and Register 13. Statement of Account 14. Cancellation 15. Joint Applicants 16. Trust Applicants 17. Redemption, Early Redemption and Charges 18. Change in Legal Status (Death, Divorce, Residence, etc) 19. Complaints 20. Changes to the Terms and Conditions 21. Service Provider Obligations 22. Assignment 23. Governing Law and Jurisdiction 24. Invalidity 25. No Waiver 26. No Exclusion 27. Dormant Accounts 28. Processing of Personal Data 29. Communications and Notices 30. Provision of Information 31. Recording 32. Contact Details Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 2 of 10

3 Section 1 - Definitions Throughout the text certain words have a specific meaning wherever they appear and we have defined them below: Address Agent Agreement Application Form An Post Bond(s) or National Solidarity Bond(s) Bonus Business Day condition Customer Service DIRT Early Redemption Joint Applicant Principal Amount Purchase Date Maturity Date Minor NTMA Post Office Register Selling Agent State Savings State Savings Products the address last provided by You to Us. In the case of a Joint Applicant, this means the address of the Joint Applicant whose name appears in the section entitled Account Holder(s) Details in the Application Form. a duly authorised person acting on behalf of the NTMA. these terms and conditions and all other documents that are incorporated into these terms and conditions or otherwise become part of Our agreement with You. the National Solidarity Bond Application Form. An Post, acting as the Selling Agent for State Savings products (including the Bond) on behalf of the NTMA. National Solidarity Bond(s) (Issue 4) for a 4 year or, 10 year term, as applicable. the bonus payable on redemption of a Bond, whether on the Maturity Date or on Early Redemption. Mondays to Fridays, excluding bank holidays, in the Republic of Ireland. in relation to these terms and conditions, means any term or condition. the office which operates customer service aspects of the State Savings Products, which can be reached by telephone or text SMS to , by post at State Savings, GPO, Dublin 1, or by at Service@StateSavings.ie. deposit interest retention tax. redemption of a Bond prior to its Maturity Date whether in whole or in part. two or more individuals applying to jointly purchase a National Solidarity Bond. They are joint owners of the Bond. the principal amount of a Bond outstanding at any time and from time to time. the date on which a National Solidarity Bond is purchased by You. the last day of the Term of Your Bond, which shall be the 4 year anniversary or, as applicable, the 10 year anniversary of the Purchase Date. an individual under the age of 16 Years. the National Treasury Management Agency. any An Post post office in Ireland. the register maintained by or on behalf of the NTMA with respect to the Bonds. An Post as agent for the NTMA. State Savings is the brand name used by the NTMA to describe the range of savings products offered by the NTMA to personal savers. the NTMA's range of savings products for personal customers. Total Cumulative Bonus Percentage Term Transaction We, Our, Us You, Yours or the Account holder Website as at an anniversary of the Purchase Date, the percentage of the Principal Amount to be applied to calculate the Bonus which would be payable if the Bond were redeemed on that anniversary of the Purchase Date. the duration of the Bond, being the period of 4 years, or 10 years as applicable from (and including) the Purchase Date to (but excluding) the Maturity Date. any transaction in respect of your Bond. the National Treasury Management Agency or its agent on behalf of the NTMA. the Bond holder, which expression shall include Your personal representatives, executors and assigns. In the case of Joint Applicants, unless otherwise notified, these terms refer to any and all Joint Applicants and both Trustee and Beneficiary in a Trust application. Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 3 of 10

4 Section 2 - Part A This Section 2 Part A only applies to a National Solidarity Bond (Issue 4) for a 4 year term. It does not apply to a National Solidarity Bond (Issue 4) for a 10 year term. National Solidarity Bond (Issue 4) - 4 Year Term 1. Minimum and Maximum Holdings 1.1 The minimum holding of 4 year Bonds (Issue 4) at any one time is The aggregate maximum holding of 4 year Bonds (Issue 4), is 250,000 for a sole applicant, 500,000 for 2 joint applicants or 750,000 for 3 joint applicants, provided always that each holder shall not exceed the maximum personal holding of 250, Your holdings in any other issue of National Solidarity Bonds (including, for the avoidance of doubt, the 10 year Bonds (Issue 4) described in these terms and conditions) do not affect the maximum holding limits for the 4 year Bonds (Issue 4). 1.4 For the purpose of determining the maximum holding limit of the 4 year Bonds (Issue 4), the Principal Amount of a joint Bond will be deemed joint personal property and will be divided equally between the number of Joint Applicants when computing the individual maximum limit. 1.5 A maximum of 250,000 may be purchased in the name of a person/s acting as trustee/s for a Beneficiary whose name will also appear on the Bond. For the purpose of the maximum limit the amount held in trust will not count towards the maximum holding limit for the trustee/s and will only be included in calculating the individual maximum limit for the beneficiary. 2. Bonus 2.1 On redemption of a Bond a Bonus will be payable on the Maturity Date (or, where applicable, the date of Early Redemption) which will be calculated by reference to the following rates: Anniversary of the Purchase Date on or after which redemption occurs 1 st 2 nd 3 rd 4 th Total Cumulative Bonus Percentage 0.15% 1.50% 3.00% 6.00% Example of return (principal and Bonus) on 100 Principal Amount No annual or other periodic payments of interest will be paid to You in respect of a Bond during the Term. The Bonus will only be payable in respect of a Bond on the Maturity Date (or, where applicable, the date of Early Redemption) and will be paid on redemption of the Bond in accordance with the Agreement. 2.3 Where a Bond is held to the Maturity Date, the total amount of the Bonus payable to You will be 6% of the Principal Amount as at the Maturity Date. 2.4 Where a Bond is subject to Early Redemption prior to the first anniversary of the Purchase Date, the Bonus payable to You will be calculated at a rate of 0.15% per annum on the portion of the Principal Amount payable on redemption for the number of days from (and including) the Purchase Date to (but excluding) the date of Early Redemption. 2.5 Where a Bond is subject to Early Redemption on or after any anniversary of the Purchase Date, the Bonus payable to You will be the sum of (i) the amount calculated by applying to the portion of the Principal Amount payable on redemption, the Total Cumulative Bonus Percentage indicated in the table at condition 2.1 above for the most recent anniversary of the Purchase Date, and (ii) an amount calculated at a rate of 0.15% per annum on the portion of the Principal Amount payable on redemption for the number of days (if any) from (and including) the date of the most recent anniversary of the Purchase Date to (but excluding) the date of Early Redemption. 3. Term of Bond 3.1 The Term is 4 years from the Purchase Date. 3.2 We will notify You in writing at least 10 Business Days in advance of the Maturity Date and will provide You with a statement of the amount of principal and Bonus payable to You in respect of the Bond as at the Maturity Date. 3.4 The Bonds are non-transferrable (subject to condition 18 Change in Legal Status and condition 22 Assignment ). 4. Taxes on the Bond 4.1 The Bonus is not subject to DIRT, and is exempt from Income Tax and the Bond is exempt from Capital Gains Tax in Ireland. 4.2 Some individuals may have other tax liabilities which We cannot advise on as they are dependent on the individuals personal circumstances. We would therefore recommend that You consult Your Tax Adviser regarding your personal circumstances. Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 4 of 10

5 Section 2 Part B This Section 2 Part B only applies to a National Solidarity Bond (Issue 4) for a 10 year term. It does not apply to a National Solidarity Bond (Issue 4) for a 4 year term. National Solidarity Bond (Issue 4) - 10 Year Term 5. Minimum and Maximum Holdings 5.1 The minimum holding of 10 year Bonds (Issue 4) at any one time is The aggregate maximum holding of 10 year Bonds (Issue 4) is 250,000 for a sole applicant, 500,000 for 2 joint applicants or 750,000 for 3 joint applicants, provided always that each holder shall not exceed the maximum personal holding of 250, Your holdings in any other issue of National Solidarity Bonds (including, for the avoidance of doubt, the 4 year Bonds (Issue 4) described in these terms and conditions) do not affect the maximum holding limits for the 10 year Bonds (Issue 4). 5.4 For the purpose of determining the maximum holding limit of the 10 year Bonds (Issue 4), the Principal Amount of a joint Bond will be deemed joint personal property and will be divided equally between the number of Joint Applicants when computing the individual maximum limit. 5.5 A maximum of 250,000 may be purchased in the name of a person/s acting as trustee/s for a Beneficiary whose name will also appear on the Bond. For the purpose of the maximum limit the amount held in trust will not count towards the maximum holding limit for the trustee/s and will only be included in calculating the individual maximum limit for the beneficiary. 6. Bonus 6.1 On redemption of the Bond a Bonus will be payable on the Maturity Date (or, where applicable, the date of Early Redemption) which will be calculated by reference to the following rates: Anniversary of the Purchase Date on or after which 1 st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th redemption occurs Total Cumulative Bonus Percentage 0.15% 0.50% 1% 3% 6% 8% 12% 18% 24% 30% Example of return (principal and Bonus) on 100 Principal Amount No annual or other periodic payments of interest will be paid to You in respect of a Bond during the Term. The Bonus will only be payable in respect of a Bond on the Maturity Date (or, where applicable, the date of Early Redemption) and will be paid on redemption of the Bond in accordance with the Agreement. 6.3 Where a Bond is held to the Maturity Date, the total amount of the Bonus payable to You will be 30% of the Principal Amount as at the Maturity Date. 6.4 Where a Bond is subject to Early Redemption prior to the first anniversary of the Purchase Date, the Bonus payable to You will be calculated at a rate of 0.15% per annum on the portion of the Principal Amount payable on redemption for the number of days from (and including) the Purchase Date to (but excluding) the date of Early Redemption. 6.5 Where a Bond is subject to Early Redemption on or after any anniversary of the Purchase Date, the Bonus payable to You will be the sum of (i) the amount calculated by applying to the portion of the Principal Amount payable on redemption, the Total Cumulative Bonus Percentage indicated in the table at condition 6.1 above for the most recent anniversary of the Purchase Date, and (ii) an amount calculated at a rate of 0.15% per annum on the portion of the Principal Amount payable on redemption for the number of days (if any) from (and including) the date of the most recent anniversary of the Purchase Date to (but excluding) the date of Early Redemption. 7. Term of Bond 7.1 The maximum term of a Bond is 10 years from the Purchase Date. 7.2 We will notify You in writing at least 10 Business Days in advance of the Maturity Date and will provide You with a statement of the amount of principal and Bonus payable to You in respect of the Bond. 7.4 The Bonds are non-transferrable (subject to condition 18 Change in Legal Status and condition 22 Assignment ). 8. Taxes on the Bond 8.1 The Bonus is not subject to DIRT, and is exempt from Income Tax and the Bond is exempt from Capital Gains Tax in Ireland. 8.2 Some individuals may have other tax liabilities which We cannot advise on as they are dependent on the individuals personal circumstances. We would therefore recommend that You consult Your Tax Adviser regarding your personal circumstances. Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 5 of 10

6 Section 3 General Terms and Conditions 9. Eligibility to purchase Bonds may be purchased by: (a) a sole applicant; or (b) Joint Applicants of two or more individuals; or (c) one or more individuals (trustee/s) in trust for another individual (beneficiary); (d) a Minor, (either as a sole, joint or trust applicant), provided that a parent / guardian gives their written consent; or (e) a charity, approved unincorporated body or friendly society, subject to the prior written permission of the Selling Agent. All charities wishing to purchase a Bond will be required to provide a Revenue Registration Number. Friendly societies are required to be registered with the Registrar of Friendly Societies and to provide the registration number. A special application form is available from: State Savings, GPO, FREEPOST, Dublin 1 or Customer Service on or SMS Text Bonds may not be purchased or held in the course of a trade. For further details of requirements and Application Form please see our website or contact Customer Service or any Post Office. 10. Evidence of Identity 10.1 For the purposes of the Agreement, You are required to provide documentary evidence of Your name, address and PPSN in accordance with statutory requirements. You are required to provide an original or a certified copy of one document under each of the following headings: (a) Proof of Name current Passport or current EU Driving Licence (containing photograph) (b) Proof of Address Electricity, telephone, gas bill or original bank, building society or credit union statement issued in last 6 months or official original letter from the Revenue Commissioners or Dept. of Social Protection which shows Bond purchaser s name, address and PPSN. (c) Proof of PPSN (or Tax Identification Number) for example by way of official original letter from the Revenue Commissioners (or the tax authorities in another country) or Dept. of Social Protection which shows Bond purchaser s name, address and PPSN (this document can also be used for proof of address see above) Where the necessary proof of identification has not been received We will advise You of the missing documentation and We will not proceed with the Bond purchase until satisfactory documentation is received We reserve the right to refuse any application to purchase a Bond at Our sole discretion and to refund any money received. 11. Payment methods for purchase of Bonds Unless otherwise permitted by Us, payments for the purchase of the Bonds may be made in euro, by cash, paper clearing items (e.g. cheque, bank draft) or electronic fund transfer as follows: (a) cash only at a Post Office; (b) debit card payment, subject to any daily limits applied by your bank, at any Post Office, Customer Service or (c) paper clearing items (cheque or bank draft made payable to NTMA State Savings ) at a Post Office or sent by post to State Savings, GPO, Freepost, Dublin 1. Only paper clearing items (cheques or bank drafts) drawn on banks in Ireland will be accepted. Personal cheques (and cheques payable to the Bond purchaser, countersigned by the Bond purchaser as payee), are acceptable; and (d) Direct Debit (on a one off or for a regular monthly amount); 12. Purchase of the 4 year or the 10 year National Solidarity Bond and Register 12.1 When purchasing a National Solidarity Bond, You must specify the Term (4 year or 10 year) of the Bond you wish to purchase on the application form The Bonds will be recorded in the Register which is the official record of the holder and Principal Amount of each Bond The Register may be in paper form or electronic form or partly in one form and partly in the other form, in each case, at the discretion of the NTMA. 13. Statement of Account 13.1 We will provide an opening statement following Your initial purchase, as part of a welcome pack We will also provide a statement in January and July each year Statements will be in written format and will be mailed to You at Your current registered address or as otherwise agreed with Us. Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 6 of 10

7 Section 3 General Terms and Conditions 13.4 If You become aware of an inaccuracy in relation to Your accounts as set out in the statements, You must notify Customer Service immediately. If We find that the relevant entries are incorrect, We will amend Your statement accordingly. If You do not contest the contents of a statement without undue delay, We will consider that You accept the statement to be correct and accurate To ensure that We have Your correct address for mailing of the account statements You must notify Us of any change of Address (condition 18.1.a). 14. Cancellation 14.1 You have the right to cancel the Agreement without giving Us any reason within 14 days of receiving these terms and conditions from Us You can exercise Your right to cancel the Agreement by sending Customer Service a signed, written instruction (by post), within the cancellation period, to cancel the Agreement All parties to a Joint Application must sign the instruction to cancel the Agreement If You do not exercise Your right under this condition 14 to cancel the Agreement within the Cancellation Period, We will assume that You have accepted these terms and conditions If You cancel, the Purchase Amount will be refunded to you as soon as practicable and the Bond will be cancelled. 15. Joint Applicants 15.1 A maximum of three persons may complete the Application Form on a joint basis All Joint Applicants acknowledge that they will own the Bond on a joint basis and will be jointly and severally responsible for all matters in relation to the Bond If We become aware of a dispute between Joint Applicants (or any of them), We, acting in our sole discretion, may suspend any and all transactions related to the Bond until We receive further written instructions from all Joint Applicants If We become aware that a Joint Applicant has been adjudicated bankrupt or is suffering from a mental incapacity, We may freeze all transactions on the Bond and only permit it to be operated by the person responsible for distributing the assets of the bankrupt person, or the person lawfully appointed to manage the affairs of the person suffering from mental incapacity Subject to all applicable probate laws, tax laws, regulations and any clearance required from the Irish Revenue Commissioners, if a Joint Applicant dies, the Bond shall pass to the surviving Joint Applicant(s) If there are several Joint Applicants, notices and correspondence in relation to that Bond will be valid if sent to the first-named Joint Applicant listed on the relevant application form Additional Terms are applicable to Joint Applications as further specified in these terms and conditions (including conditions 14.3, 17.5, 18.1.(b)). 16 Trust Applicants 16.1 A maximum of two persons may apply to hold a National Solidarity Bond in trust for another individual who must be named in the Register If there are several trustee applicants, notices and correspondence in relation to that Bond will be valid if sent to the first-named trustee applicant listed on the relevant application form. 17. Redemption, Early Redemption and Charges 17.1 There are no charges or other fees applied by Us in respect of a Bond Unless previously subject to Early Redemption, each Bond will be redeemed at its Maturity Date in accordance with the NTMA s then applicable redemption procedures Full or partial Early Redemption of a Bond may be made by You on giving 7 Business Days prior written notice to Customer Service in such form as may be required by the NTMA for such purpose. Where You are a Minor at the time of redemption, a parent or guardian must give their written consent to the Early Redemption. Any partial Early Redemption will reduce the Principal Amount remaining by the level of that Early Redemption principal All cheques/drafts are subject to a clearance period (generally 12 Business Days) and may affect the time required for processing payments For Joint Applicants, all parties must sign the form giving notice to the NTMA to request Early Redemption. Where one or more of the Joint Applicants is a Minor, a parent or guardian must give their written consent All parties named in a trust account, both trustee/s and beneficiaries, must sign the notice to the NTMA requesting Early Redemption. Where a beneficiary is a Minor, a parent or guardian must give their written consent Upon redemption or Early Redemption of a Bond, the proceeds will be paid to You by post or by any other means agreed by You with Us. Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 7 of 10

8 Section 3 General Terms and Conditions 18. Change in Legal Status (Death, Divorce, Residence, etc) 18.1 You/Your personal representatives must inform Us immediately in writing of any of the following: (a) a change in Your legal status, including change of name, address or residential status for tax purposes; (b) Your divorce or legal separation (Joint Applicants only); (c) Your bankruptcy; or (d) Your death If We are not made aware of the occurrence of any of the above, We will have no liability in respect of any action taken by Us between the date that any of the above occurs and the date on which We are notified of same In the event of death, We must be informed and the necessary documentation produced before any Transaction is made in relation to any Bond. 19. Complaints 19.1 If You have a complaint, you may contact Customer Service who will register Your complaint Any complaints received will be dealt with in accordance with Our complaints procedure. 20. Changes to these Terms and Conditions 20.1 We may change these terms and conditions at any time for any of the reasons set out in condition If We make any changes to these terms and conditions, We will, unless We are permitted by law to give You shorter notice, give You two months advance notice by any one of the following methods: , post, published in a national newspaper, published on our website or other electronic means. If You do not contact Us within that two month period to tell Us that You do not agree with the change(s) that We propose, You will be deemed to have accepted such change(s). If You do not want to accept the proposed change(s) You may, during the two month period, immediately terminate the Agreement and instruct Us to redeem Your Bond(s).We will ensure that resulting payments due to You are paid directly to You by post or by any other means agreed with Us We may alter these terms and conditions for any of the following reasons: (a) predicted changes in legal or regulatory requirements affecting Us, (b) to maintain or improve operating conditions or service levels, (c) to reflect any developments in our systems, services, technology or products, (d) to take account of a ruling by a court, ombudsman, regulator or similar body, (e) to make our agreement fairer or clearer to You, (f) to rectify any mistake discovered in due course, (g) to reflect a change in general banking practice, or (h) to allow additional services to the suite of products and services offered by Us to our customers. 21. Service Provider Obligations 21.1 We will not be responsible for any loss which You suffer if a Transaction cannot be carried out as a result of industrial action, power failure or any other cause beyond Our control or that of Our agents or subcontractors We will not be liable for any loss or damage suffered by You resulting from the use of, action taken in reliance on information contained in or the unavailability of this document or the services described in these terms and conditions, except in the event of negligence or wilful default of Us/Our agent in carrying out its duties under these terms and conditions We will not be liable, under any circumstances, for any indirect or consequential losses or damages We may refuse to carry out any Transaction if We have reasonable doubts about: (a) the identity or authority of the person requesting the Transaction; (b) the lawfulness of the Transaction; (c) the clearance of any funds required to meet the Transaction; or (d) compliance of the Transaction with these terms and conditions We will not be liable for relying in good faith on any inaccurate information received from You in circumstances where We reasonably believed such information to be accurate. 22. Assignment 22.1 Subject to condition 22.2, You may not assign or otherwise transfer the Bond or Your rights under the Agreement. We will not accept any such notice of assignment Upon application being made to the NTMA, a change of ownership may be recorded in the Register with respect to the transfer of a Bond held by a deceased holder to the person legally entitled to receive the benefit of the Bond. Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 8 of 10

9 Section 3 General Terms and Conditions 23. Governing Law and Jurisdiction 23.1 The Agreement and Bonds are governed by, and shall be construed in accordance with, the laws of Ireland The courts of Ireland shall have exclusive jurisdiction to resolve any disputes which arise in relation to the Agreement or the Bonds. 24. Invalidity If any provision of the Agreement is held to be unenforceable, it will not affect the validity or enforceability of the remaining provisions of the Agreement. 25. No Waiver Any failure or delay on Our part in enforcing any condition of the Agreement shall not constitute a waiver of such condition. 26. No Exclusion Nothing in the Agreement seeks to exclude or restrict any legal liability or duty of care that We may have to You under Irish consumer protection legislation. 27. Dormant Accounts 27.1 This condition 27 applies if Your Bond is a dormant account for the purposes of the Dormant Accounts Act, 2001 (as amended) (the Dormant Accounts Act ). If you hold a dormant account, and the credit balance is more than 100, We will contact You to explain Your rights, and our obligations under the Dormant Accounts Act. A relevant account is considered dormant under the Dormant Accounts Act if it has not been subject to any customer initiated transactions for a period of 15 years We do not have to contact You if; (a) You have asked Us not to; or (b) We have previously attempted, without success, to contact You; or (c) the credit balance is less than 100. In those circumstances, We will instead by way of public advertisement in two or more daily newspapers and the Iris Oifigiúil indicate that We have dormant accounts and ask account-holders to contact Us in relation to them If You do not contact Us, We will deal with the credit balance on that account in accordance with the Dormant Accounts Act It is possible for a holder of a dormant account to later claim for repayment of the credit balance. Again, We will deal with such a request in accordance with the Dormant Accounts Act. 28. Processing of Personal Data 28.1 For the purposes of the Agreement and for associated legal and regulatory purposes, We will collect, process and use personal data relating to You and, if applicable, to a Minor for whose benefit You have purchased a Bond. This personal data will include such information that We are required to obtain from You to comply with anti-money laundering obligations, obligations to the Revenue Commissioners and obligations under tax and other relevant legislation (including without limitation the EU Taxation of Savings Income Directive) and will include Your PPS number By accepting these terms and conditions, You consent on Your behalf and, where applicable, on behalf of the Minor, to any such collection, processing and use of this personal data for the purpose of the administration of Your Bond, and State Savings Products Customer data may be processed by Us, Our Agents, and any third party service providers acting on Our behalf for regulatory or legal purposes and for any other purpose required for or reasonably incidental to the performance of the duties set out in this Agreement Subject to any preferences indicated by You in any Application Form, customer data may be used by Us, or Our Agent, for the purpose of marketing State Savings Products You have the right to request a copy of any personal data or sensitive personal data held by Us, or An Post as Our Agent, about You You also have the right to have such data corrected where it is inaccurate or misleading. Should You wish to avail of either of these rights, please contact the Data Protection Officer, State Savings, GPO, FREEPOST, Dublin 1 for further details. Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 9 of 10

10 Section 3 General Terms and Conditions 29. Communications and Notices 29.1 All correspondence will be sent to the Address provided on your Application Form (Panel 1) unless otherwise updated You must notify Us by letter if You change Your name, address or Your telephone number. We will always request documented proof if You change Your name and/or address. We will not accept notification by facsimile or All notices and communications are regarded as validly given by Us to You if; (a) We communicate them via the State Savings Website or via or other electronic means; (b) We send them to the last address notified by You; or (c) We advertise them in a national newspaper If there are several account-holders on an account, notices and correspondence in relation to that account will be validly sent if sent to the first-named account-holder listed on the relevant application form Any documents, correspondence and other items sent to Us by You are sent at Your sole risk All documentation, information and communications between Us and You will be in English, unless otherwise agreed For Your protection, when telephoning our Customer Service, You may be required to answer security questions based on the information You supplied on the National Solidarity Bond Application Form or otherwise provided to Us In the absence of a recognised power of attorney, We will not be bound to accept instructions from or recognise the interest or claim of any person other than You (or, in the case of a Joint Applicant, any of the named applicants) in relation to a Bond All notices and communications sent by You to Us in relation to the Agreement or the Bond should be directed to Customer Service. Unless otherwise specified in the Agreement, any notice or communication required to be sent by You to Us in writing in relation to the Bond should be sent either by post to: State Savings, GPO, FREEPOST, Dublin 1 or by to Service@StateSavings.ie or SMS Text Provision of Information 30.1 You may contact Customer Service at any time to request a copy the NTMA Brochure 3 of December 2013 published by Us about the National Solidarity Bond (a copy of which You would have received with the Application Form) and these terms and conditions NTMA Brochure 3 of December 2013 published by Us about the National Solidarity Bond (a copy of which is provided as part of the Application Form) and these terms and conditions are available on our website Recording 31.1 We may from time to time monitor or record telephone conversations between You and Us for the purpose of improving our services and/or to assist in dispute resolution. By purchasing a National Solidarity Bond, You consent to such recording and it (or a transcript thereof) being used in evidence in any litigation, arbitration or other dispute resolution proceedings, in each case as permitted by law Such recording is in the interests of the following: (a) training and quality control; (b) protecting You, and Our employees and agents, against misinterpretation or false allegation; (c) monitoring compliance with regulatory procedures; (d) establishing facts which are relevant to Our business; and (e) detecting unauthorised use, or abuse, of Our communications systems If there is a dispute in relation to dealings with You that may have been recorded, You agree to accept our records as admissible as evidence of the instructions recorded therein, and the conversations recorded therein. Any such telephone recordings will remain Our property. 32. Contact Details For all enquiries relating to any State Savings products Web - Telephone SMS Text Service@StateSavings.ie Visit - any Post Office Mail - State Savings, GPO, FREEPOST, Dublin 1 Issued by the National Treasury Management Agency (NTMA) on Sunday 08 December Page 10 of 10