Common use of LEGAL AND TAX IMPLICATIONS Clause in Contracts

LEGAL AND TAX IMPLICATIONS. (a) The Customer will inform itself and, if necessary, consult its own independent professional advisers as to the relevant legal, tax and exchange control regulations in force in the countries of the Customer’s citizenship or incorporation, residence or domicile. (b) Where the Bank supplies information prepared by others, or obtained from a source outside the Bank, it may not be complete or accurate and the Bank will not verify the information nor attest to it unless stated otherwise. (c) The Customer acknowledges and agrees that the Bank is not responsible for providing, and the Bank does not provide, any tax or legal advice to the Customer. While the Bank may during the course of the banking relationship and/or in performing the Services, take into account legal and tax considerations and/or advice (including external legal and tax advice that the Bank obtains for this purpose) and, during the course of the banking relationship and/or in providing the Services to the Customer, the Bank may rely on tax and legal advice, to the extent permitted by law, the Bank accepts no responsibility for this advice. The Customer shall be responsible for reviewing the legal and tax implications of any Transaction, and the Customer further acknowledges and agrees that the Customer does not rely on the Bank to provide any tax and legal advice (even if the Bank has obtained external tax and legal advice), and even if the Bank has relied on external tax and legal advice, the Customer shall ensure that it has obtained its own tax and legal advice. The Customer further acknowledges and agrees that the Customer is not entitled to rely on any advice obtained by or from the Bank (whether or not communicated or disclosed to the Customer or implicit in the Services provided to or Transactions entered into with or on behalf of the Customer or otherwise). (d) The Bank shall be entitled to rely on and act in accordance with all legislation and any guidelines, codes or other information applicable to it, including that published by the HKMA and the SFC to the extent applicable to the Bank, and the Bank shall not incur any liability to the Customer as a result of so relying or acting. (e) The Bank agrees that nothing in these General Terms shall exempt, limit or exclude the Bank from acting in compliance with any applicable guidelines in carrying out its obligations under these General Terms. To the extent that any provision of these General Terms is inconsistent with the requirements of any applicable laws, guidelines, codes or other information applicable to it, including that published by the HKMA and the SFC, the requirements of the relevant applicable requirements shall prevail over these General Terms.

LEGAL AND TAX IMPLICATIONS. (a) The Customer will inform itself and, if necessary, consult its own independent professional advisers as to the relevant legal, tax and exchange control regulations in force in the countries of the Customer’s citizenship or incorporation, residence or domicile. (b) Where the Bank supplies information prepared by others, or obtained from a source outside the Bank, it may not be complete or accurate and the Bank will not verify the information nor attest to it unless stated otherwise. (c) The Customer acknowledges and agrees that the Bank is not responsible for providing, and the Bank does not provide, any tax or legal advice to the Customer. While the Bank may during the course of the banking relationship and/or and/ or in performing the Services, take into account legal and tax considerations and/or and/ or advice (including external legal and tax advice that the Bank obtains for this purpose) and, during the course of the banking relationship and/or in providing the Services to the Customer, the Bank may rely on tax and legal advice, to the extent permitted by law, the Bank accepts no responsibility for this advice. The Customer shall be responsible for reviewing the legal and tax implications of any Transaction, and the Customer further acknowledges and agrees that the Customer does not rely on the Bank to provide any tax and legal advice (even if the Bank has obtained external tax and legal advice), and even if the Bank has relied on external tax and legal advice, the Customer shall ensure that it has obtained its own tax and legal advice. The Customer further acknowledges and agrees that the Customer is not entitled to rely on any advice obtained by or from the Bank (whether or not communicated or disclosed to the Customer or implicit in the Services provided to or Transactions entered into with or on behalf of the Customer or otherwise). (d) The Bank shall be entitled to rely on and act in accordance with all legislation and any guidelines, codes or other information applicable to it, including that published by the HKMA and the SFC MAS to the extent applicable to the Bank, and the Bank shall not incur any liability to the Customer as a result of so relying or acting. (e) The Bank agrees that nothing in these General Terms shall exempt, limit or exclude the Bank from acting in compliance with any applicable guidelines in carrying out its obligations under these General Terms. To the extent that any provision of these General Terms is inconsistent with the requirements of any applicable laws, guidelines, codes or other information applicable to it, including that published by the HKMA and the SFCMAS, the requirements of the relevant applicable requirements shall prevail over these General Terms.