Revised Conditions (January 2009) LLOYDS BANKING GROUP SHARE ISA CONDITIONS

Transcription

1 Rvis Conitions (Jnury 2009) LLOYDS BANKING GROUP SHARE ISA CONDITIONS

2 Contnts 1 Who r th prtis?... 2 Wht o wors n phrss in ol typ mn?... 3 Whn i my pln strt?... 4 How o I invst in my pln?... 5 Who owns th shrs n sh in my pln?... 6 How os my pln work?... 7 Wht informtion will I riv out Lloys Bnking Group pl?... 8 Wht hppns to th ivins from shrs in my pln?... 9 Wht hppns whn spil vnts fft th shrs in my pln? Whn will I hv to py hrgs? How os txtion fft my pln? How o I tk sh from my pln? Whn n my pln los? Wht sttmnts will I riv? Whn n ths onitions hng? How will you rry out your utis? How o I omplin? How n w ontt h othr? Wht informtion n you giv n riv out my pln? Wht onitions pply to prvnt mony lunring? Wht gnrl onitions pply to my pln?... 2

3 1 Who r th prtis? W r Hlifx Invstmnt Srvis Limit, pprov s pln mngr y th Rvnu n uthoris n rgult y FSA. Ths onitions n ny forms tht w sk or hv sk you to fill in st out th rltionship twn us. You shoul r ths onitions n th forms rfully to unrstn how your pln works n your n our rights n utis unr it. 2 Wht o wors n phrss in ol typ mn? In ths onitions w hv put th following wors in ol typ us thy hv spil mning. Th ount is lint nk ount opn y us with Brlys Bnk pl whih is signt s n ISA ount. Our ministrtion rss is Hlifx Invstmnt Srvis Limit, BNY Mllon Hous, Ingrv Ro, Brntwoo, Essx CM15 8TG. Th grmnt twn you n us for your pln is m up of th pplition form, ths onitions n ny othr onitions whih pply to your pln unr gnrl lw. Th pplition form is th pplition form tht you fill in whn you ppli to invst in your pln. An xution-only ustomr is prson who givs us instrutions without riving invstmnt vi from us. FSA is th Finnil Srvis Authority, n inpnnt orgnistion tht rgults us, whos rss is 25 Th North Colonn, Cnry Whrf, Lonon E14 5HS. Th Lloys Bnking Group is th orport group of whih w r mmr. Th ISA Rgultions r th Iniviul Svings Aount Rgultions 1998, s mn, sustitut or rpl from tim to tim. Th orr hnling poliy sts out th rrngmnts w opt to nsur tht your orrs hiv th st possil rsult. A pln is Lloys Bnking Group Shr ISA, n iniviul svings ount tht invsts in th shrs of Lloys Bnking Group pl. A rtil lint is n iniviul who is not ting in th ours of rrying on invstmnt usinss. Shrs r orinry shrs of Lloys Bnking Group pl. 3

4 A tx yr runs from 6th April of on yr to 5th April of th nxt. A working y is ny y whih is not Stury, Suny or English puli holiy. 3 Whn i my pln strt? Your pln strt whn w pt your pplition. W will mng your pln in lin with th ISA Rgultions n our grmnt. 4 How o I invst in my pln? f g You nnot invst in your pln. Howvr you n trnsfr n iniviul svings ount or prt of n iniviul svings ount with nothr pln mngr into your pln (s onitions 4 n 10f). You n trnsfr ny iniviul svings ount or prt of ny iniviul svings ount with nothr pln mngr into your pln. If tht iniviul svings ount hols shrs, w will pt trnsfr of thos shrs into your pln. Othrwis, w will pt only sh trnsfr. W will kp sh whih w hol for your pln in th ount, togthr with sh whih w hol for othr invstors. W will rit you with intrst on sh whih w hol for you in th ount from th t tht lr funs r trnsfrr into it. Unr th ISA Rgultions w must ut flt rt hrg, urrntly 20%, from this intrst n py this hrg to th Rvnu. W will rit suh intrst to you qurtrly. Th intrst rt will lwys t lst th minimum posit rt whih Brlys Bnk pl pys t tht tim roun own to two iml pls. Brlys Bnk pl my hng its minimum posit rt. You gr tht, if sh tht w hol for you rmins unlim for prio of t lst 6 yrs, w will llow to no longr trt it s lint mony, provi tht w hv ompli with th ruls of th FSA. Any sh hl in th ount to whih invstors r not ntitl longs to us n n withrwn for our nfit. W will py into th ount: ivins from shrs; intrst; n ny othr sh w riv for your pln. h W will withrw from th ount our hrgs, fs, ommissions n ll othr mony whih you ow us unr th grmnt. 4

5 5 Who owns th shrs n sh in my pln? W r th ustoin of th shrs n sh in your pln. W or our nomin will hol th lgl titl to th shrs n sh in your pln. You will th nfiil ownr of th shrs n sh in your pln. Nithr you nor w n ln or hrg th shrs or sh in your pln. You will not givn rtifits for th shrs in your pln. Your shrs will pool with shrs hl for othr ustomrs n will not intifi y sprt rtifits, othr physil oumnts or quivlnt ltroni ror. Th rgistrr of Lloys Bnking Group pl rors tils of your shrs in rgistr in our nm or tht of our nomin. If w rgistr your shrs in th nm of our nomin, w will rsponsil for nything our nomin os or os not o. W intify th shrs n sh in your pln sprtly in our rors. If w or our nomin los ny of th shrs in your pln, w will lil to you. If w or our nomin fults n is not holing nough shrs to stisfy our oligtions to ll our ustomrs, th shrs will ivi mong our ustomrs in proportion to thir holings; this will not fft your othr lgl rights. If thr is ny sh in your pln, w will posit it in th ount. 6 How os my pln work? f g W will trnsfr shrs into your pln or uy shrs for your pln s soon s rsonly prtil (s lso onitions 4, 8 n 9) in orn with our orr hnling poliy. W will uy shrs for your pln to th nrst whol shr. W will py ny rmining sh into th ount. W will sll shrs for your pln s soon s rsonly prtil ftr w riv your writtn instrutions in orn with our orr hnling poliy. This will normlly no ltr thn th working y ftr w riv your writtn instrutions. W will sn you onfirmtion of trnstions for your pln. Dtils of trnstions for your pln will lso shown on your sttmnts (s lso onition 14). W my uy or sll shrs for you n othr ustomrs s prt of th sm l. Whn w o this, w must rsonly liv tht th ggrgtion of orrs is unlikly to work ovrll to your isvntg. Howvr, it oul work to your isvntg in rltion to prtiulr orr n, for xmpl, oul rsult in slightly lss fvourl pri thn if w h ought or sol your shrs sprtly. Any mounts or shrs you r ntitl to riv in onntion with your pln will roun own to th nrst pnny or th nrst whol shr. W will kp ny rmining frtions for our own ount. W will rry out trnstions for your pln on th sis tht you r n xutiononly rtil lint. Nithr w nor ny othr mmr of th Lloys Bnking Group n giv you ny invstmnt, txtion or lgl vi in onntion with your pln. If you n ny vi out your pln, w rommn tht you onsult with n inpnnt profssionl visr. 5

6 h i Th vlu of shrs or th inom from thm oul go own s wll s up n you my not gt k th mount invst. Unlss w gr othrwis, your pln n hol no invstmnts othr thn shrs. 7 Wht informtion will I riv out Lloys Bnking Group pl? Evry yr, w will sn you th Lloys Bnking Group pl Summry Finnil Sttmnt. If you sk us, w will sn you th Annul Rport n Aounts for Lloys Bnking Group pl vry yr n ny othr informtion issu to shrholrs of Lloys Bnking Group pl. W will sn you informtion out shrholr mtings togthr with form you n us ithr to giv us your voting instrutions or to sk us to rrng for you to st your vots in prson. W will vot in lin with your voting instrutions. If you o not giv us your instrutions, w will not vot for you. You n lwys ttn n spk t mting, ut you nnot st your vots in prson unlss you sk us to rrng it for you (s onition 7). 8 Wht hppns to th ivins from shrs in my pln? W will normlly riv ivins from shrs in your pln in th form of sh. W will py ivins from shrs in your pln into th ount. Unlss you hoos to riv inom, w will us th ivins (lss ny hrgs, fs or othr mony you ow us unr th grmnt) to uy mor shrs for your pln (s lso onition 6). If you hoos to riv inom, w will py th ivins (lss ny hrgs, fs or othr mony you ow us unr th grmnt) to you y utomti trnsfr to nk or uiling soity ount of your hoi. If w r offr srip ivin (tht is th option to riv nw shrs rthr thn sh ivin), w n hoos to riv th nw shrs rthr thn sh ivin if w think tht it will finnilly ttr for our ustomrs s whol. 9 Wht hppns whn spil vnts fft th shrs in my pln? If Lloys Bnking Group pl nnouns ithr n issu of nw shrs or n offr whih woul llow us to uy or riv shrs for your pln, w will tk th following stps: If you r ntitl to xtr shrs (for xmpl, through onus or othr pitlistion issu), w will utomtilly rit th shrs to your pln. In th s of tk-ovr, onvrsion, rights issu or othr offr m in onntion with th shrs, s long s it is rsonly prtil to o so 6

7 n if w r l to giv you hoi, w will tll you in writing out th offr n init th hois (if ny) whih you n mk. If you rply quikly nough to llow us to t, w will follow your instrutions. W will not t without your instrutions. W will invst ny shrs w riv in your pln n us ny sh w riv to uy mor shrs for your pln. Unlss w hv to y lw, w will not tk up or pt ny issu or offr whih woul rsult in us uying or riving invstmnts whih w r not llow or not l to invst in your pln. Whr it is rsonly prtil, w will sll thos rights or nfits n invst th pros in your pln. 10 Whn will I hv to py hrgs? W will mk n nnul mngmnt hrg for mnging your pln. W will work it out y vluing your pln vry month. Th hrg is pyl vry month for th prvious month. Th urrnt nnul mngmnt hrg is 0.5% (plus VAT) pr nnum of th vlu of your pln (sujt to mximum of (plus VAT) h month). You must py ll: stokrokrs ommissions (urrntly 0.15% of th vlu of th shrs purhs or 0.15% of th vlu of th shrs sol); stmp uty/stmp uty rsrv tx (urrntly 0.5% of th vlu of th shrs purhs); n othr ling osts; whih r hrg to us whn w uy or sll shrs or nil pi rights for your pln or whn w trnsfr shrs into your pln. Ths hrgs my hng in th futur. f g h i If you mk withrwl from your pln w will mk hrg of 15 (plus VAT) for h withrwl. If you los your pln, w will mk hrg of 15 (plus VAT). If your pln oms voi y rson of ny filur to stisfy th provisions of th ISA Rgultions n w hv to sll th shrs in your pln (s onition 20), w will mk hrg of 15 (plus VAT). If you trnsfr n iniviul svings ount or prt of n iniviul svings ount to us from nothr pln mngr, w will mk hrg of 15 (plus VAT). If you trnsfr your pln or prt of your pln to nothr pln mngr, w will mk hrg of 20 (plus VAT). W will mk hrg of 10 (plus VAT) vry tim you writ to tll us wht to o in onntion with ny orport rorgnistion or othr pitl vnt ffting Lloys Bnking Group pl, inluing tk-ovr (s onition 9). W will mk hrg of 10 (plus VAT) vry tim you sk for sttmnt unr onition 14. 7

8 j W will ut ll hrgs, fs n othr mony tht you ow us unr th grmnt out of ny sh w hol or riv in onntion with your pln or, if w hol or riv no or insuffiint sh, w will ut ll hrgs, fs n othr mony tht you ow us y slling shrs in your pln inst. 11 How os txtion fft my pln? Unr th urrnt lw rlting to tx rlif for iniviul svings ounts, w will mng your pln so tht it will fr from ll prsonl tx. Whn ths onitions rfr to tx rlif, thy mn th tx rlif tht pplis t th t of pulition of ths onitions. But, tx rlif oul hng in th futur. If th tx rlif tht pplis to iniviul svings ounts hngs, your pln will ontinu ut it will fft y tht hng. Th informtion out tx rlif in ths onitions only pplis to popl who py UK tx. Th vlu of tx rlif pns on your irumstns. W will mk lims, onut ppls n gr tx rlifs n liilitis rlting to your pln. W will giv th Rvnu informtion out your pln whih th lw sys w must. If w hv pss tx rit to you tht you r not ntitl to, w n rpy th Rvnu out of your pln (s lso onition 10j). 12 How o I tk sh from my pln? You n withrw sh from your pln t ny tim y tlling us to sll shrs in your pln (s onition 6). You n only mk withrwl if: it is for t lst 250; n th mrkt vlu of your pln will t lst 1,000 ftr you hv m th withrwl. W will py you th sl pros y hqu no ltr thn fiv working ys ftr th y w riv thm. If th mrkt vlu of your pln ftr you hv m withrwl will lss thn 1,000, you must sll ll th shrs in your pln n los your pln (s lso onition 13f). 13 Whn n my pln los? W n los your pln t ny tim y giving you t lst 30 ys noti. W n lso los your pln t ny tim y giving you t lst 30 ys noti if w nnot ontinu to your pln mngr us of: hng in th lw (inluing hng in th ISA Rgultions); 8

9 hng in th FSA s ruls; ision y th Rvnu; or ision y FSA. f If w los your pln unr onition 13, w will giv you rtin options n notify you of your right to trnsfr your pln to nothr pln mngr. If you o not hoos n option within rsonl prio or sk us to trnsfr your pln to nothr pln mngr, w will hoos th option tht w rsonly think is st for you. You n los your pln t ny tim y giving us noti. You my tll us th tim within whih you wish us to t on your instrutions unr this onition. W will rry out your instrutions within rsonl tim (not xing 30 ys). W will omplt ny trnstions tht w hv strt for your pln is los. W will kp your pln opn until w hv pi ny ivins to whih you r ntitl. Whn your pln is los, w will: sll th shrs in your pln (s onition 6); tk out of th sl pros ll hrgs, fs n ny othr mony whih you ow us unr th grmnt; n py to you th rst of th sl pros n ny othr sh w r holing for you y hqu no ltr thn fiv working ys ftr th y w riv th sl pros. g If your pln is in for whn you i, its tx xmpt sttus will n on tht t ut your pln will ontinu. Whn w hv riv vin of your th whih is stisftory to us n w r sk y your prsonl rprsnttivs or ny othr prson ntitl to th shrs, w will sll thos shrs n py th pros (lss ny hrgs, fs n othr mony ow to us n th Rvnu) to thm y hqu. Until w sll th shrs, thy will sujt to ily pri movmnts s norml. Whn w know who your prsonl rprsnttivs r, w will tll thm th vlu of th shrs in your pln s t th t of your th. 14 Wht sttmnts will I riv? W will sn you sttmnt twi vry yr. Eh sttmnt will show th vlu of your pln s t th t of your lst sttmnt n, for th prio sin th lst sttmnt: tils of trnstions for your pln; ivins n ny othr rights riv for your pln; ny sh tht w riv for your pln; intrst pi on sh hl in your pln; 9

10 th flt rt hrg ut from ny intrst pi on sh hl in your pln; hrgs, fs, ommissions n ny othr mony u to us n whih w hv withrwn from your pln; n ny inom pi to you, n ny othr mony whih you hv withrwn from your pln. Th sttmnts will lso show, s t th t of th sttmnt, th shrs in your pln, thir vlu n th sis on whih tht vlu hs n lult, n ny sh hl in your pln. You n sk us to sn you sttmnt t othr tims ut you must py th hrg in onition 10i vry tim you o so. 15 Whn n ths onitions hng? By giving you rsonl noti in vn, w n hng ny of ths onitions (inluing hngs to ny hrgs) for on or mor of th following rsons: to mk thm sir to unrstn or firr to you; to rflt hngs to th lw, os of prti or th wy w r rgult; to rflt ision or rommntion m y, or rquirmnt of, ourt, omusmn, rgultor or similr oy or ny unrtking givn to ny suh oy; to rflt hngs to stnrs pulish y othr ois whih w gr will pply to your pln; to rflt hngs in mrkt onitions; to rflt hngs in gnrl mrkt prti (inluing th trms on whih similr prouts r offr); to rflt hngs to th wy w look ftr your pln or iniviul svings ounts gnrlly; to rflt hngs to th tx rlif tht pplis to ISAs (s lso onition 11); to rflt lgitimt hngs to our osts of slling n/ or ministring plns; to llow us to introu nw or improv systms for looking ftr your pln; or to orrt mistks. W will giv you t lst 10 working ys noti of ny hng unr this onition. You will fr to trnsfr your pln to nothr ISA mngr unr onition

11 Whr w rfr to "hngs" in th ov list, w mn hngs w know will hppn or w rsonly liv will hppn or hngs tht hv lry tkn pl. Any hng unr this onition will proportiont rspons to th rson for tht hng. W n lso hng ths onitions if it is fir n rsonl to mk th hng. W will giv you rsonl noti of t lst 10 working ys in vn of ny hng m unr this onition. You will fr to trnsfr your pln to nothr ISA mngr unr onition How will you rry out your utis? W will t with rsonl skill, r n ilign s rquir y th ruls of FSA. If w nnot prform ny of our srvis unr ths onitions u to irumstns yon our rsonl ontrol, thn w will tk ll rsonl stps to ring thos irumstns to n n, ut w will not lil for our nonprformn xpt to th xtnt rquir y th Finnil Srvis n Mrkts At 2000, ny rgultions issu unr tht At n th ruls of FSA. If w lgt ny of our funtions or rsponsiilitis unr ths onitions to ny prson, w will mk sur tht tht prson is omptnt to rry thm out. 17 How o I omplin? W hv prour to hlp us invstigt ll omplints from our ustomrs fftivly. If you hv omplint out us or woul lik tils of our omplints prour, you shoul writ to our omplin offir t our ministrtion rss. If w nnot rsolv your omplint to your stisftion, you lso hv right to omplin irt to th Finnil Omusmn Srvi whos rss is South Quy Plz, 183 Mrsh Wll, Lonon E14 9SR. If w fult in our oligtions to you, ompnstion is vill unr th Finnil Srvis Compnstion Shm. If you sk, w will sn you summry of your rights unr th Finnil Srvis Compnstion Shm. 18 How n w ontt h othr? Wht informtion n you giv n riv out my pln? If you wnt to tll us out nything onrning your pln, you must writ to us t our ministrtion rss. Whn you writ, pls stt your pln rfrn numr n Ntionl Insurn Numr. W will sn ll notis, sttmnts or lttrs to th lst rss you gv us. W will trt thm s rriving two working ys ftr thy wr post (if snt to n rss in th Unit Kingom) or tn working ys ftr thy wr post (if snt ro). You must writ to us t our ministrtion rss stright wy if you hng your nm or rss. You shoul mk sur tht th rrngmnts for riving mil t your rss r sf. 11

12 f g h Unlss ths onitions sy othrwis, ny instrutions, notis or othr ommunitions tht you or w sn unr thm will only vli if thy r in writing. W my sk ny othr mmr of th Lloys Bnking Group to giv us informtion out you whih will hlp us to intify you or whih will hlp us to look ftr your pln. W n hng our nm or ministrtion rss. If w hv snt oumnts to your rss on two sprt osions n thy hv n rturn n, ftr mking rsonl nquiris, w nnot fin out your urrnt rss, w will not sn ny mor oumnttion to you until you tll us your rss. W my monitor n ror phon lls to or from us. W o this to hk wht ws si n to trin our stff. 19 Wht onitions pply to prvnt mony lunring? W my sk for proof of your intity n ny othr rlvnt informtion in lin with th lws to prvnt mony lunring. If you o not provi proof or w r not stisfi with th proof n othr rlvnt informtion tht you provi, w my: not opn your pln; los your pln; or rfus to mk pymnts to you from your pln. Th pri t whih w thn uy or sll shrs for your pln oul highr or lowr thn th pri t th tim w riv your pplition form or instrutions. 20 Wht gnrl onitions pply to my pln? W will tll you if your pln oms voi y rson of ny filur to stisfy th provisions of th ISA Rgultions. If this hppns, w will sll th shrs, n out of th sl pros: ut our hrgs, fs n ny othr mony u to us; ut th mounts rprsnting tx rits to whih you wr not ntitl; n py th rmining sh to you y hqu. On rqust, n within suh tim s will gr (not xing 30 ys), w will trnsfr your pln or prt of your pln, with ll rights n oligtions of th prtis to it, to nothr pln mngr. W will o this ithr y slling shrs in your pln n pying th pros (lss ny hrgs, fs or othr mony you ow us) to th nw pln mngr or trnsfrring th shrs n ny sh in your pln (lss ny 12

13 hrgs, fs or othr mony you ow us) to th nw pln mngr (s lso onitions 10g n 10j). Unlss w gr othrwis, th smllst mount tht you n trnsfr is 250 n th mrkt vlu of your pln must t lst 1,000 ftr you hv m th trnsfr. If th mrkt vlu of your pln woul lss thn 1,000 ftr you hv m th trnsfr, thn you must trnsfr th whol pln. f g h i Thr my limit irumstns in whih onflit twn your n our intrsts my ris. To mitigt n ontrol ths onflits n nsur th fir trtmnt of our ustomrs, w hv onflits of intrst poliy. A summry of this poliy is provi sprtly. You n rqust furthr tils out this inluing opy of th full poliy t ny tim. You gr tht w n giv Lloys Bnking Group pl tils out you or your pln. If w ly in nforing ny trm whih forms prt of ths onitions, this will not fft our right to nfor it or th rst of thos trms. If w hoos not to nfor ny trm whih forms prt of ths onitions, this will not fft our right to nfor th rst of thos trms. Eh prgrph n su-prgrph in ths onitions is sprt from th othrs. This mns tht If w nnot nfor ny on prgrph or su-prgrph in ths onitions, this will not fft our right to nfor ny othr prgrph or suprgrph. Whr ths onitions r not onsistnt with th ISA Rgultions (n ny othr lws n ruls tht pply to th grmnt) th ISA Rgultions (n ny othr lws n ruls tht pply to th grmnt) will pply. It is gr tht this grmnt is govrn y th lws of Engln n Wls n tht ny isput will lt with y th English ourts. 13