1 Money Market Service Fixed Interest Securities Trading and Custody Service Supplementary Application & Terms and Conditions Macquarie Private Wealth A world of opportunities Produced by Macquarie Equities Limited ABN Australian Financial Services License No Participant of the Australian Securities Exchange Group Date of issue: July 2010
2 Contents 1 Introductory information 2 Money Market Service Fixed Interest Securities Trading and Custody Service Terms and Conditions 9 Money Market Service Fixed Interest Securities Trading and Custody Service Application Form Inserts: Cash Management Account Product Information Disclosure 2 Macquarie Private Wealth s services are provided by Macquarie Equities Limited ABN (MEL). Participant of Australian Securities Exchange Group, AFSL No , 1 Shelley Street, Sydney NSW This information has been prepared by MEL and contains general advice which does not take account of your objectives, financial situation or needs. You should therefore consider the appropriateness of the advice having regard to your situation before making an investment decision. We recommend you obtain financial, legal and taxation advice before making any financial investment decision. MEL is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth) and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of MEL, unless expressly noted otherwise.
3 Introductory information The Money Market Service is committed to providing clients with a choice of cash solutions. The Money Market Service Fixed Interest Securities Trading and Custody Service offers clients the ability to create a new income stream with a range of fixed interest solutions to suit investors of all risk profiles. What are fixed interest securities? A fixed interest security is a debt security. When you buy or subscribe for a fixed interest security, you are in effect lending money to an entity, known as the issuer. In return for the loan you provide, the issuer usually pays you a specified rate of interest (a coupon) during the lifetime of the fixed interest security, and will repay the face value of the fixed interest security (the principal) to you at a predefined time (maturity date). Fixed interest securities are issued by Governments, banks, building societies, credit unions and corporations and may take the form of bank bills, Government & semi- Government bonds and corporate bonds. How do they differ from shares? When you buy a fixed interest security you are, in effect, loaning money to the issuer. However, when you buy shares, you are becoming a part owner of the enterprise. With fixed interest securities, you have no claim on the enterprise. However, if the enterprise goes into liquidation, owners of fixed interest securities are usually paid before shareholders. What is required to apply for the Fixed Interest Trading and Custody service? A Macquarie Private Wealth Money Market Service account; A Macquarie Cash Account linked to your Fixed Interest Trading and Custody Service; and You need to be a wholesale investor and have minimum $ (per transaction) to invest. How to invest The application form will guide you through the questions that are applicable to you. You can apply for the Fixed Interest Trading and Custody Service by completing, signing and returning the Application Form attached to the Terms and Conditions (the Application Form) to your Adviser or to Macquarie Equities Limited. Ensure a sufficient account balance is available in your linked Macquarie Cash Account to cover the settlement costs in relation to any new investment on your Fixed Interest Trading and Custody Service The ideal settlement and cashflow management account The Macquarie Cash Management Account (CMA) offers an efficient way to facilitate your investments. It is the ideal settlement account for your investment portfolio and is an efficient way to keep track of your investment transactions, dividends and any other income. By consolidating your cash into one central cashflow management system, you and your adviser have a complete view of your cash position making it simple to take up new investment opportunities while earning a competitive return on your cash. Using the Macquarie CMA you can: automate settlement of your investment transactions; directly credit coupons to your cash account; monitor your account online; keep track of available funds; and easily access your investment cash. To open a Macquarie CMA, please read the CMA Product Information Statement (PIS) enclosed in this Application Book and complete Section 3 of the Application Form. 1
4 Money Market Service Fixed Interest Securities Trading and Custody Service Terms and Conditions 2 Interpretation These Terms and Conditions are supplementary to and form part of the Terms and Conditions between the client and Macquarie Equities Limited (MEL) as contained in the Macquarie Money Market Service Terms and Conditions. For the avoidance of doubt, this Fixed Interest Service is a Service as defined in, and for the purposes of the Macquarie Money Market Service Terms and Conditions. In the event of any conflict between the respective terms and conditions, then these Terms and Conditions will prevail for the purposes of this Fixed Interest Service. 1. Definitions 1.1 Authorised Representative means the person or persons that you have authorised to provide MEL with instructions on your behalf under this Fixed Interest Service as set out in the Application Form; 1.2 Custodian means MEL or any other party appointed by MEL to carry on such functions; 1.3 Documents means any documents evidencing your title to the Securities; 1.4 Fixed Interest Service means the Macquarie Money Market Service Fixed Interest Securities Trading and Custody Service governed by these Terms and Conditions; 1.5 GST means goods and services tax or any similar tax payable pursuant to goods and services tax legislation enacted by the Commonwealth (or any State or Territory) Government and includes any interest, fine or penalty payable under such legislation; 1.6 Macquarie Cash Account means your Nominated Bank Account for the purpose of this Fixed Interest Service and must be a Macquarie Cash Management Account, whether new or existing, held or established in your name as set out in the Fixed Interest Service Application Form which is linked to and used as a settlement account for the purposes of this Fixed Interest Service; 1.7 MEL means Macquarie Equities Limited (ABN ) of 1 Shelley Street, Sydney NSW 2000; 1.8 Securities means fixed interest securities including Government and semi-government bonds, corporate debt, subordinated debt, unsecured notes, floating rate notes, negotiable certificates of deposit and any other fixed interest securities as determined by MEL from time to time; 1.9 TFN means Tax File Number; and 1.10 You, you or your means the person or entity recorded as the recipient of the Fixed Interest Service. Terms defined in the Money Market Service Terms and Conditions have the same meaning in these Terms and Conditions unless otherwise defined in these Terms and Conditions. Fixed Interest Securities Trading 2. Rules and regulations 2.1 These Terms and Conditions govern any transactions, financial or otherwise, executed on your Money Market Service account by MEL under this Fixed Interest Service. 2.2 You acknowledge that the minimum value of any transaction under this Fixed Interest Service must be AUD $ (subject to MEL s absolute discretion to accept instructions which are for a value less than AUD $ ). 3. Discretions 3.1 You acknowledge that MEL is not obliged to accept you as a client, nor to provide you with any explanation for refusing your Fixed Interest Service application, where a decision is made to do so. 3.2 You and any Authorised Representative(s) may instruct MEL to deal in Securities on your behalf. MEL may at any time, and at its discretion (which it shall exercise reasonably), decline your instructions or cancel any order or generally prohibit or restrict you from trading in Securities under the Fixed Interest Service. Where reasonable, MEL may refuse to act on your behalf where: a view is taken that the order is likely to: (i) contribute to a breach of the Corporations Act; or (ii) be inappropriate, unethical or likely to negatively impact on MEL s reputation and integrity within the market; you have not provided MEL with authority to debit your Macquarie Cash Account or you have withdrawn such authority;
5 3.2.3 you do not have a Macquarie Cash Account linked to your Fixed Interest Service; or there are insufficient funds in your Macquarie Cash Account or you do not hold sufficient Securities to satisfy your instruction. 3.3 You agree that MEL is not liable for any financial consequence, loss or inconvenience as a result of not acting on your instructions (where such failure to act by MEL was reasonable in the circumstances). 3.4 You agree that MEL is not liable for any financial consequence, loss or inconvenience arising from circumstances where MEL uses its discretion to cancel a transaction or refuses to accept an instruction from you. 4. Your commitment 4.1 You represent to MEL that you are, and at all times during your dealings with MEL will be, in a position to meet all commitments (financial and otherwise) on your part arising out of dealings with MEL or business conducted by MEL on your behalf under this Fixed Interest Service. 5. Settlement obligations 5.1 You agree to pay for purchases and make good delivery in respect of sales to enable MEL to settle by the due settlement date on all dealings in Securities on your behalf. You also agree to pay all applicable brokerage costs as notified by us, taxes (including GST) and other reasonable charges in respect of those purchases and sales. 5.2 You agree that an amount equal to the value of any purchase instruction (and any related brokerage and fees) may be placed on hold in your Macquarie Cash Account (the Unavailable Funds) pending settlement of the purchase of Securities under this Fixed Interest Service. The Unavailable Funds will still appear in your Macquarie Cash Account balance, however you may not be able to access or withdraw the Unavailable Funds. You will continue to earn interest on the Unavailable Funds in your Macquarie Cash Account in accordance with your account terms and conditions until the Unavailable Funds are withdrawn by MEL for settlement of your transaction. 5.3 You acknowledge that MEL will not extend you credit for any reason whatsoever. 5.4 MEL does not accept payment in cash. You must make payments due under these Terms and Conditions via a Macquarie Cash Account. 5.5 If you do not currently hold a Macquarie Cash Account, you agree to apply for a Macquarie Cash Account prior to, or at the same time as applying for this Fixed Interest Service. 5.6 You acknowledge that MEL may not accept your application for this Fixed Interest Service if you do not hold, or agree to open, a Macquarie Cash Account. 5.7 In respect of sale instructions, you acknowledge that MEL, acting as agent, will endeavour to find a buyer for your Security. If no buyer can be found then you acknowledge that you will be unable to exit the position and will have to continue to hold this position. If a buyer can be found it may be at an unfavourable price. 6. Failure to settle 6.1 MEL reserves the right to levy you with additional reasonable charges as notified by us, if you do not have sufficient Securities or funds in your Macquarie Cash Account to satisfy an instruction or if you do not settle by the settlement date. 6.2 Where you fail to make good delivery in respect of sales by the due settlement date, you are liable to MEL for all costs it reasonably incurs as a result of your failure to settle. 6.3 Where you fail to provide payment in full to MEL in respect of purchases by the due settlement date, you are liable to MEL for all costs it reasonably incurs as a result of your failure to settle. 6.4 In the event that you fail to complete a contract or a portion of a contract, MEL may at its discretion, exercised reasonably at any time after the due settlement date: cancel the trade the subject of the contract, to extinguish your settlement obligations at your risk and expense, including GST, brokerage and any funding costs; or sell or purchase sufficient Securities to satisfy your settlement obligations under the contract, at your risk and expense, including GST, brokerage and funding costs. 7. Linked settlement account 7.1 You acknowledge, that you must nominate a Macquarie Cash Account to be your Nominated Bank Account (in the Money Market Service Application Form) for the purposes of this Fixed Interest Service. 3
6 4 7.2 Without limiting the generality of clause 7.3 you authorise MEL to automatically debit funds from your Macquarie Cash Account at any time to satisfy: your settlement obligations pursuant to clause 5 of these Terms and Conditions; and any liability to MEL for losses, costs and expenses incurred by MEL and to pay fees, brokerage, interest and any other additional charges payable pursuant to these Terms and Conditions. 7.3 You authorise MEL to directly credit into and directly debit from your Macquarie Cash Account, all amounts payable to you or payable by you under this Fixed Interest Service. 7.4 You authorise the provider of your Macquarie Cash Account to provide account information in respect of your Macquarie Cash Account to MEL. You agree that MEL will, at all times while you continue to be a client of this Fixed Interest Service, have access to your Macquarie Cash Account for the purposes of obtaining and verifying the available balance and other account information. 7.5 You acknowledge that MEL may decline any purchase request which is for more than the value of the funds available for withdrawal in your Macquarie Cash Account at the time the request is made. 7.6 You authorise MEL and the provider of your Macquarie Cash Account to place on hold and make unavailable in your Macquarie Cash Account an amount equal to the value of any purchase instruction and any associated brokerage and fees, pending settlement of the purchase of Securities under this Fixed Interest Service in accordance with clause The provider of your Macquarie Cash Account has absolute discretion to determine the order of priority of payment of monies under any withdrawal requests. 7.8 You acknowledge that where MEL specifies a future date for a withdrawal from your Macquarie Cash Account, the provider of your Macquarie Cash Account may decline any other redemption request that would leave insufficient funds to cover your trading obligations under this Fixed Interest Service. 7.9 You can cancel the authority in this clause 7 but only after giving MEL at least three business days notice in writing. Cancellation by you will mean that MEL cannot give new withdrawal instructions on your Macquarie Cash Account after the date your notice is effective. However, instructions given by MEL before this date will still be effective and may be actioned by the provider of your Macquarie Cash Account after this time You are liable for any losses, costs and expenses incurred by MEL and the provider of your Macquarie Cash Account as a result of this authority or acting in accordance with any request by MEL or instruction by you in accordance with these Terms and Conditions. However, MEL and/or the provider of your Macquarie Cash Account will remain liable for any loss or liability because of its/their own neglect or default. 8. Assigned right 8.1 Your rights under these Terms and Conditions are incapable of being assigned (whether at law, in equity or otherwise) or made the subject of any encumbrance, trust or fiduciary obligation without the prior written consent of MEL, which consent may be withheld by MEL acting reasonably. Any action which purports to do any of these things without MEL s prior written consent is void. 8.2 Where such assignment does not prejudice your rights under these Terms and Conditions, MEL may assign or otherwise deal with its rights under these Terms and Conditions without your consent for legitimate business purposes including business reconstruction, amalgamation, sale or securitisation. 8.3 Where such assignment may prejudice your rights under these Terms and Conditions, MEL may assign or otherwise deal with its rights under these Terms and Conditions by providing you with at least 10 business days written notice. 8.4 You agree that MEL may disclose to any person taking a transfer or assignment, or considering taking a transfer or assignment, any relevant personal or other information or documents that person or entity reasonably requires. 9. Security 9.1 You represent that you will not instruct any unauthorised person to issue instructions on your behalf under this Fixed Interest Service. 9.2 You acknowledge you will be liable for any order placed with MEL by you or on your behalf. 9.3 You agree that if you become aware of any unauthorised instructions on your account under this Fixed Interest Service, you will contact MEL or your adviser as a matter of urgency. 9.4 You agree that we are not liable to you where: we reasonably act on instructions later to be determined to be unauthorised; and you have unreasonably delayed in informing us of unauthorised activity on your account. MEL will remain liable for any loss or liability arising from MEL s own neglect or default.
7 10. Trading procedures 10.1 You undertake to provide MEL with all information requested of you at the time of placing an order to deal in Securities on your behalf MEL will confirm the execution of an order on your account by hard copy confirmation and/or an electronic confirmation, which will be despatched at the end of the day on which the transaction was executed You agree to promptly provide MEL with current contact details including an address, where applicable, during your dealings with MEL and to promptly update this information when it changes Upon receipt of the confirmation, if you believe that the confirmation does not accurately reflect the transaction you entered into, you must inform your adviser or MEL as soon as practicably possible MEL may, at any time, reissue a confirmation in order to correct any errors or omissions, and after the necessary changes have been made, these Terms and Conditions will apply and will be binding with respect to the reissued confirmation You acknowledge that MEL may match your orders under this Fixed Interest Service with orders of other clients of MEL and that in such a case, MEL may receive brokerage from both parties to the transaction You acknowledge that MEL will use reasonable endeavours to effect instructions to amend or cancel an order as quickly as possible. However you acknowledge that there may be delays in processing such an amendment or cancellation and as such, an order may be wholly or partly filled before an instruction for its amendment or cancellation is processed and you will be liable to settle the partially or completely filled order You acknowledge that MEL may only be able to partially fill an order and that you are responsible for that transaction regardless of whether or not the remainder of the order is filled MEL will use its reasonable endeavours to complete partially filled orders. You may be charged brokerage on each transaction as it is completed You acknowledge and accept that in circumstances where an order is partially filled over more than one day, you will be issued a confirmation at the end of each day which relates to the transaction(s) executed over the course of that day. 11. Trading limits 11.1 You acknowledge that, where reasonable, MEL may delay accepting or may seek authorisation from its management prior to accepting or executing any instruction from you, and, in those circumstances, we are not liable to you for resulting costs, losses or expenses provided that we have acted reasonably. 12. MEL to act as agent 12.1 Subject to these Terms and Conditions, MEL will act as agent for you for the following purposes: to accept Documents deposited with MEL on your behalf; to hold Documents; to register Securities transferred to you in MEL s name or in the name of a nominee of MEL, subject to these Terms and Conditions, as bare trustee and custodian for and on your behalf; to deal with the Documents and the Securities and any derivatives of either of them as instructed by you; to receive, collect, hold and disburse, subject to these Terms and Conditions, as bare trustee for and on your behalf, all entitlements and payments (of any nature whatsoever) in respect of the Securities, and to take any action which MEL reasonably considers to be necessary in connection with the receipt of such entitlements and payments; and to do such other things as MEL reasonably considers necessary in order to give effect to these Terms and Conditions. 13. MEL S responsibilities and rights as custodian 13.1 In exercising its powers as set out in these Terms and Conditions, MEL in its capacity as custodian will: exercise due care in respect of custody of the Documents; not be obliged to supervise your investments generally or advise on them; not be liable for any damage, loss, cost or expense arising from an act or omission of any other person (not being an employee of MEL) or corporation, or from any electronic or mechanical fault beyond MEL s control or for any act or omission arising from (or notwithstanding) compliance by MEL with any law or customary market practices; and 5
8 not be liable to you for earnings foregone on monies held for you by MEL. 14. Restriction on exercise of rights 14.1 Notwithstanding the fact that legal title to the Securities is held by MEL, subject to these Terms and Conditions, any rights which attach to the ownership of those Securities may only be exercised by MEL upon and in accordance with your direction (beneficial title is retained by you). 15. Sub-custodians, agents and nominees 15.1 MEL may appoint and remove sub-custodians, agents or nominees to carry out such custodian services as MEL may, from time to time, direct MEL accepts the same level of responsibility for the sub-custodians, agents or nominees as for MEL s own acts. 16. Dealing with securities 16.1 MEL will, at your request, provide you with reports of transactions involving the Documents, the Securities and your money. Such reports shall be forwarded to you by mail unless another means of transmission is agreed between you and MEL Any instructions given to MEL by you in connection with these Terms and Conditions must be given by you or an Authorised Representative You acknowledge that MEL may reveal details of the Securities or information regarding the acquisition of Securities by you to the Australian Securities and Investment Commission, the Australian Securities Exchange Limited (ASX), the Australian Transaction Reports and Analysis Centre (AUSTRAC) or any other governmental agency or regulatory authority in Australia or any person entitled to such details or information by virtue of an order or direction of any court or to any other person legally entitled. 17. Expenses and charges 17.1 In respect of purchases of Securities, you will be charged (and your Macquarie Cash Account will be debited for) brokerage and relevant fees at the time that MEL debits your Macquarie Cash Account for the amount of the Securities purchased. In respect of sales of Securities, you will be charged brokerage and relevant fees, which will be debited by MEL from the proceeds of the sale of the Securities before MEL deposits the proceeds of the sale into your Macquarie Cash Account You acknowledge that the amounts of any brokerage or fees in respect of this Fixed Interest Service are agreed between you and MEL at the time you give MEL an instruction to buy or sell of Securities under this Fixed Interest Service You will be liable for all taxes, duties, fines and imposts (arising other than as a result of MEL s negligence or default) of any nature whatsoever incurred in connection with the transactions contemplated by these Terms and Conditions and which are chargeable against MEL or a third party engaged by it in accordance with these Terms and Conditions excluding tax on MEL s or its agents general income or profits. You will pay such amounts to MEL upon request You are liable to MEL and its agents for any loss, costs, expenses or damage they suffer as a consequence of your breach of these Terms and Conditions. MEL will remain liable for any costs, losses or expenses incurred as a result of MEL s own neglect or default You agree to pay to MEL such reasonable fees and charges as MEL may, from time to time, determine and notify to you, in consideration of the performance by MEL of its obligations under these Terms and Conditions including without limitation, any reasonable fees and charges in respect of transferring Securities, registered in the name of another custodian which are held on your behalf, to MEL so that the Securities are registered in MEL s name as custodian on your behalf. Acknowledgement of Risks 18.1 You acknowledge that trading under this Fixed Interest Service is subject to risks which include, but may not be limited to the following risks and you agree to accept these risks and any other risks (and any associated losses) which may arise as a result of trading under this Fixed Interest Service: Market Risk When you invest in Securities, the market value of your investment may decrease Interest rate risk Interest rate movements may affect the price of a Security and there is a risk that if interest rates increase, the price of a Security may decrease Default risk It is possible that the issuer of a Security may not be able to keep up interest payments or repay the capital sum of the Security at maturity. 6
9 Liquidity Risk If you wish to sell your Security, there is a risk that MEL will not be able to find a buyer of your Security. If no buyer can be found, you may be unable to exit the position and may have to continue to hold this position. If a buyer can be found, it may be at an unfavourable price Credit Rating One or more independent credit rating agencies may assign credit ratings to Securities. The rating(s) may not reflect the potential impact of all risks related to structure, market and other factors that may impact the value of the Security. A credit rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, cancellation, reduction or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating Counterparty Risk If you make an agreement to purchase or sell Securities prior to their maturity, there is a risk that the counterparty who agrees to purchase or sell the Securities will default by failing to partly or fully settle the transaction which means that you may not be able to purchase some or all of the Securities or exit your position (either partly or completely) at the agreed price You agree that MEL is not liable for any financial consequence, loss or inconvenience arising from, or in any way connected with, any of the risks referred to in clause 18.1 actually eventuating. General 19. Notices 19.1 Every notice or other communication of any nature whatsoever required to be given, served or made under or arising from these Terms and Conditions: must be executed by the party or on behalf of the party giving, serving or making the same by an attorney, Authorised Representative, director or secretary of that party; will, provided that it is addressed or sent to the address or number as directed by or notified to your adviser or MEL, be deemed to be given, served or made: (i) in the case of a posted letter, on the third (seventh, if posted to or from a place outside Australia) day after posting; (ii) in the case of a facsimile, on the business day following receipt of a transmission report confirming successful receipt at the conclusion of the transmission; (iii) in the case of delivery by hand, on delivery, provided that if any notice is given, served or made outside of normal business house it will not be deemed to be given, served or made until the commencement of business on the next business day; and (iv) in the case of , on the business day that it was sent, to be evidenced by a hard copy of the electronic mail bearing the date and time that it was sent and the electronic mail address of the recipient being the address as advised from time to time by a party to the other party. 20. Facsimile instructions 20.1 You acknowledge that MEL is not obliged to accept any instructions sent to it under this Fixed Interest Service by facsimile. 21. Authorised Representative 21.1 You may request MEL, by completing the Authorised Representative part of the Application Form, to allow another person or persons to provide MEL with instructions on your behalf under this Fixed Interest Service. The Authorised Representative will need to provide proof of identification documents These Terms and Conditions apply to the Authorised Representative in the same way that they apply to you. You must ensure that the Authorised Representative has read these Terms and Conditions and complies with them. You are liable for any breaches of these Terms and Conditions by an Authorised Representative MEL cannot accept amendments to your account Authorised Representative details from an Authorised Representative Subject to these Terms and Conditions, MEL may act on electronic or verbal instructions which purport to be from an Authorised Representative The authority of the Authorised Representative can only be revoked by notifying MEL in writing. MEL may cancel the authority of the Authorised Representative at any time if MEL receives written notice of the death, bankruptcy, or mental illness of either you or the Authorised Representative. 7
10 21.6 You consent to MEL giving the Authorised Representative information about your account under this Fixed Interest Service and your Macquarie Cash Account When the Authorised Representative instructs MEL to carry out an action, or conduct a transaction, MEL will act on the instructions of that person. MEL is not required to make any inquiries in relation to any instructions received from the Authorised Representative in relation to the operation of your account under this Fixed Interest Service. MEL is not liable for any loss or damage caused to you by the Authorised Representative providing MEL with instructions on your behalf, or otherwise acting on your behalf under this Fixed Interest Service. 22. Variation 22.1 MEL may vary these Terms and Conditions by giving you notice of the variation in the following manner: (a) (b) (c) where the variation would cause you detriment, by giving you at least 21 days written notice; where the variation would not cause you detriment, by giving you at least 14 days notice, such notice to be given by: (i) posting notice of the changes on our website ( (ii) any other form of written notice; and subject to 22.1(a), where the variation is required in order to: (i) meet regulatory requirements; (ii) reflect new industry guidance and codes of practice which in our reasonable opinion are likely to raise standards of consumer protection (whether mandatory or voluntary); or (iii) comply with any legal requirement, or any decision, code, recommendation, guidance or standard of any regulatory authority, court or tribunal; by giving you at least 14 days notice (where reasonably possible), such notice to be given by: (i) posting notice of the changes on our website; or (ii) any other form of written notice; but where this is not reasonably possible (for example if regulatory requirements necessitate that changes be implemented immediately) we will provide as much notice as possible, but you acknowledge that we may not be able to provide any notice or only less than 14 days notice in such circumstances. Hard copy versions of the revised Terms and Conditions will be sent to you on request. If, following a variation to these Terms and Conditions, you no longer wish to maintain your account with MEL, you may terminate your account with us. We will not charge you any exit or termination fees, in connection with the termination of your Trading Account and these Terms and Conditions but you will be required to satisfy any current obligations or dealings prior to the termination becoming effective. Following termination of the Service, you will be responsible for the management and administration of the investments you have obtained through the service including any fees or expenses incurred from transferring the investments into your (or a replacement broker s control). 23. Waiver and severance 23.1 No waiver of, or any consent to any departure by you or MEL from, a provision of these Terms and Conditions is of any force or effect unless it is confirmed in writing signed by or on behalf of the party granting the waiver or consent and then that waiver or consent is effective only to the extent to which it is made or given If any provision of these Terms and Conditions is invalid and not enforceable in accordance with its terms, other provisions which are self-sustaining and capable of separate enforcement without regard to the invalid provision are and continue to be valid and enforceable in accordance with their terms. 24. Governing law and jurisdiction 24.1 These Terms and Conditions are governed by, and are to be construed in accordance with, the laws of New South Wales and you and MEL submit to the non-exclusive jurisdiction of the Courts of New South Wales and any Court hearing appeals from those Courts. 8
11 Money Market Service Fixed Interest Securities Trading and Custody Service Supplementary Application Form Macquarie Equities Limited AFSL No Please use black ink and mark boxes with an X. On receipt of this signed application form, Macquarie will open your Money Market Service Fixed Interest Securities Trading and Custody Service Account replicating the account details on your Macquarie Money Market Service account. These details include (where applicable): account name mailing address phone number(s) account holder name(s) statement mailing address fax number(s) date of birth duplicate statement address residential/business address address(es) 1. What is your existing Money Market Service account number and MAC? The Fixed Interest Service must be established in the same name as your Money Market Service account with MEL. Account Number MAC code 2. Complete your CMA account details or to apply for a new Macquarie CMA refer to Section 3 All Fixed Interest Securities Trading and Custody Service accounts must be linked to a Macquarie Cash Management Account (CMA) for settlement purposes. If you have an existing Macquarie CMA, please provide your account details below including BSB and account number and proceed to section 4. Branch number BSB Account number 3. New Macquarie Cash Management Account (CMA) details Please cross this box to confirm that you wish to apply for a Macquarie Cash Management Account (CMA) with Macquarie Bank Limited (MBL) and have received and agree to the terms in the Macquarie CMA Product Information Statement which may be found in the back of this Application Booklet. What is the purpose of this investment? (Required under the AML/CTF Act 2006) Savings Growth Other, please specify below Retirement Business account Income Your CMA income will be reinvested in your Macquarie CMA. Cheque Book If you would like a cheque book with your Macquarie CMA, please contact us on Account operating instruction for Macquarie CMA: Joint accounts if you do not cross a box we will assume Either to sign. Either to sign Both to sign together Company, Incorporated Association or Body accounts Either/any to sign (e.g. two directors or a director and secretary), or as required by the constitution or rules of the company or body (e.g. under seal witnessed by two officers), or signed by one director for a single director company. If you do not cross a box or specify instructions on the separate Third Party Authority Form, all future written instructions must be executed in the same way as this application. Anyone of us to sign All of us to sign Other If you choose Other and/or you would like to appoint an authorised signatory for your Macquarie CMA, please complete the Third Party Authority Form in the back of the Macquarie CMA Product Information Statement. 9
12 4. Authorised Representative on Fixed Interest Trading and Custody Service Account Would you like to appoint an Authorised Representative for your Fixed Interest Trading and Custody Service Account who has authority to act on your account in all matters as if they were you (excluding any instructions to alter your personal information)? Yes No If yes, please complete details below. If no, proceed to section 6. Title Mr Mrs Ms Miss Dr Other First name Middle name Surname Any other name you are known by (if applicable) Residential address (this cannot be a PO Box) Street number and name Suburb State Postcode Country Mailing address (please complete if different to residential address) Street number and name Suburb State Postcode Country Work phone number Home phone number Mobile phone number address Fax number Driver s licence number Expiry date Date of birth D D / M M / Y Y Y Y D D / M M / Y Y Y Y Passport number Expiry date Country of issue D D / M M / Y Y Y Y Occupation Gender Male Female Signature of Authorised Representative Do you wish to give your Authorised Representative access to online services for this account? If yes, please provide their MAC here Yes No If yes, does your Authorised Representative have a Macquarie Access Code (MAC)? Yes No Would you like your Authorised Representative to receive copies of trade confirmations for this account via ? Yes No IIf yes, please ensure you have provided an address above. Important note: the Authorised Representative must provide proof of identification. 5. Wholesale Clients Please confirm that this account is required for a wholesale investor by attaching a copy of your wholesale client certificate. Please cross this box to confirm you have attached a wholesale certificate. 10
13 6. Applicant Declaration We recommend that before signing this application you read and understand: the Macquarie Money Market Service Terms and Conditions and the Macquarie Fixed Interest Securities Trading and Custody Service Terms and Conditions; and where you have requested a new Macquarie Cash Management Account, the Macquarie Cash Management Account Product Information Statement. By signing this application you declare that you are agreeing to the terms of the Money Market Service terms and conditions, Macquarie Fixed Interest Securities Trading and Custody Service terms and conditions and where applicable, the Macquarie Cash Management Account Product Information Statement. By signing this Application, I/we: a) represent and warrant that all information given by me/us in this application form, together with any statements made, are true and correct; b) authorise Macquarie Equities Limited (MEL) to complete, upon my/our instruction, any blanks and make any amendments or additions with respect to this application form on my/our behalf; c) agree that if I/we do not provide MEL with any information or documentation requested of me, my/our application may be delayed or rejected and I/we agree that MEL will not be liable for any loss associated with such delay or rejection of my/our application (except loss or liability caused by MEL s own negligence or default); d) agree that MEL and/or Macquarie Bank Limited (MBL) may require further information from me from time to time in order to meet their legal and regulatory obligations and I/we agree to provide MEL and MBL with whatever additional information is reasonably required in order for them to meet such obligations; e) consent to the collection, use and disclosure of my/our personal information as set out in the Macquarie Money Market Service Terms and Conditions; f) acknowledge that MEL cannot and does not guarantee the performance or financial return on any investment made by me/us and I/we am/are unable to claim losses against MEL relating to the performance or financial return on any investment; and g) acknowledge that MEL is not an authorised deposit taking institutions for the purposes of the Banking Act 1959 (Cth). I/we acknowledge that MEL s obligations do not represent deposits or other liabilities of Macquarie Bank Limited (MBL) and that MBL does not guarantee or otherwise provide assurance in respect of the obligations of MEL. Signature Signature Date Date D D / M M / Y Y Y Y D D / M M / Y Y Y Y Print name Print name If a company officer or trustee, specify your corporate title If a company officer or trustee, specify your corporate title Director Secretary Sole Director or Sole Secretary Director Secretary Sole Director or Sole Secretary Other Other 11
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16 For more information about the Macquarie Private Wealth Money Market Service BKL /10