Common use of Dividends and Income Clause in Contracts

Dividends and Income. 7.1 Where accounts are held in New Zealand and Australia and instructions are given, we will arrange for income (including dividends, interest and other distributions of any kind) and principal repayments to be direct credited by the company registrar to your nominated account. Otherwise SSP will collect income (including dividends and distribution of any kind) and principal (including the proceeds of any disposal) in respect of any Custody Investments, and unless instructed otherwise, shall treat all monies received by it in accordance with NZX Rules governing the segregation of client money. 7.2 Unless otherwise agreed to by SSP, or where an Australian bank account has been nominated, all dividends and interest received in a foreign currency may be converted into New Zealand dollars at the time of receipt by SSP. 7.3 Where Securities are held in the unique account holdings, taxation is generally deducted at source by the company’s registrars and not by SSP. However, SSP may deduct taxation from any payment of income if it is obligated to do so under New Zealand law. You are solely responsible for all taxes or similar liabilities levied on or arising out of any Custody Investments and any payment due to you. SSP shall have no responsibility or liability with regard to your tax status or position in any jurisdiction. 7.4 You shall provide SSP with such information regarding your tax status as reasonably requested by SSP from time to time. 7.5 SSP is required to obtain certain information to establish how the New Zealand withholding tax rules apply to dividends and interest that you receive. SSP may also make this information available to registrars and issuers of the Custody Investments. In this regard, please complete Part A of this agreement. SSP will be unable to provide the service without this information. 7.6 You undertake to notify SSP immediately in writing should any of the taxation information specified by you in Part A alter.

Dividends and Income. 7.1 Where accounts are held in New Zealand and Australia and instructions are given, we will arrange for income (including dividends, interest and other distributions of any kind) and principal repayments to be direct credited by the company registrar to your nominated account. Otherwise SSP will collect income (including dividends and distribution distributions of any kind) and principal (including the proceeds of any disposal) in respect of any Custody Investments, and unless instructed otherwise, shall treat all monies received by it in accordance with NZX Rules governing the segregation of client money. 7.2 Unless otherwise agreed to by SSP, or where an Australian bank account has been nominated, all dividends and interest received in a foreign currency may be converted into New Zealand dollars at the time of receipt by SSP. 7.3 Where Securities Financial Products are held in the unique account holdings, taxation is generally deducted at source by the company’s registrars and not by SSP. However, SSP may deduct taxation from any payment of income if it is obligated to do so under New Zealand law. You are solely responsible for all taxes or similar liabilities levied on or arising out of any Custody Investments and any payment due to you. SSP shall have no responsibility or liability with regard to your tax status or position in any jurisdiction. 7.4 You shall provide SSP with such information regarding your tax status as reasonably requested by SSP from time to time. 7.5 SSP is required to obtain certain information to establish how the New Zealand withholding tax rules apply to dividends and interest that you receive. SSP may also make this information available to registrars and issuers of the Custody Investments. In this regard, please you must complete Part A of this agreementthe Taxation Details section in the Agreement or a Tax Residency Self-Certification form. SSP will be unable to provide the service without this information. 7.6 You undertake to notify SSP immediately in writing should any of the taxation information specified by you in Part A alterthe Agreement or the Tax Residency Self-Certification form changes.