Common use of Monies held by us Clause in Contracts

Monies held by us. 6.1 Subject to clauses 6.3 to 6.4 below, Account Money accepted by us from you, or for you from a third party, in connection with the Service will be treated as Client Money in accordance with the FCA rules, which means that it will be segregated from our other monies and held in trust in a pooled designated client bank account with monies from other clients at National Westminster Bank plc (or at any other authorised deposit taking institution that we may from time to time nominate. 6.2 Clause 6.3 below describes the kind of designated client bank account in which Account Money may be held. Clause 6.4 below describes when we are not obliged to treat money due to or from you as Client Money. 6.3 Account Money may be held in a designated client bank account which may restrict withdrawals for up to 95 days. We maintain a client money policy which states the maximum amounts which we would place in such accounts, the reasons for using such accounts and the risks of doing so. As per our client money policy, we will ensure that at least 10% of the total client money pool is held outside these unbreakable term deposits (i.e. immediately available, or available within 30 days). All client money is held with institutions that meet our risk management parameters – these parameters include credit ratings, capital requirements and whether deposits held are protected by government schemes (such as the Financial Services Compensation Scheme (FSCS) in the UK). 6.4 You agree that we will not be obliged to treat monies as Client Money in respect of a delivery versus payment transaction through a Commercial Settlement system if it is intended that: i) in respect of a purchase of investments by you, money from you will be due to us within one Business Day upon fulfilment of the delivery obligation; and ii) in respect of a sale of investments by you, money is due to you within one Business Day following fulfilment of the delivery obligation, unless in either case the payment or delivery has not occurred by the close of business on the third Business Day following the date on which payment or delivery was due. 6.5 Account money committed for investment will be debited from the Account at the time of a Transaction and may be transferred to a designated client money settlement account. Interest shall accrue for our benefit pending settlement once monies have been committed for investment. 6.6 Ad hoc payment requests and cash transfers will only be made for amounts of more than £5.00. This does not apply to the payments made pursuant to our quarterly dividend income payment service. 6.7 Any available cleared cash balance on your Account will be assigned to the next unsettled Transaction at the first available opportunity regardless of settlement day. 6.8 Payments and Cash transfers will only be made if the Account has a cleared credit balance after deductions for any amounts relating to purchases pending settlement 6.9 Cash payments and transfers cannot be made to Third Parties. 6.10 Interest accrued on sterling Account Money not immediately committed for investment shall be calculated monthly at 1% below the published HSBC standard current account rate. Interest accrued of less that £1.00 arising on each payment event shall be for our benefit. No interest will be paid on non-sterling Account money.

Monies held by us. 6.1 Subject to clauses 6.3 to 6.4 below, Account Money accepted by us from you, or for you from a third party, in connection with the Service will be treated as Client Money in accordance with the FCA rules, which means that it will be segregated from our other monies and held in trust in a pooled designated client bank account with monies from other clients at National Westminster Bank plc (or at any other authorised deposit taking institution that we may from time to time nominate). 6.2 Clause 6.3 below describes the kind of designated client bank account in which Account Money may be held. Clause 6.4 below describes when we are not obliged to treat money due to or from you as Client Money. 6.3 Account Money may be held in a designated client bank account which may restrict withdrawals for up to 95 days. We maintain a client money policy which states the maximum amounts which that we would place in such accounts, the reasons for using such accounts and the risks of doing so. As per our client money policy, we will ensure that at least 10% of the total client money pool is held outside these unbreakable term deposits (i.e. immediately available, or available within 30 days). All client money is held with institutions that meet our risk management parameters – these parameters include credit ratings, capital requirements and whether deposits held are protected by government schemes (such as the Financial Services Compensation Scheme (FSCS) in the UK). 6.4 You agree that we will not be obliged to treat monies as Client Money in respect of a delivery versus payment transaction through a Commercial Settlement system if it is intended that: i) in respect of a purchase of investments by you, money from you will be due to us within one Business Day upon fulfilment of the delivery obligation; and ii) in respect of a sale of investments by you, money is due to you within one Business Day following fulfilment of the delivery obligation, unless in either case the payment or delivery has not occurred by the close of business on the third Business Day following the date on which payment or delivery was due. 6.5 Account money committed for investment will be debited from the Account at the time of a Transaction and may be transferred to a designated client money settlement account. Interest shall accrue for our benefit pending settlement once monies have been committed for investment. 6.6 Ad hoc payment requests and cash transfers will only be made for amounts of more than £5.00. This does not apply to the payments made pursuant to our quarterly dividend income payment service. 6.7 Any available cleared cash balance on your Account will be assigned to the next unsettled Transaction at the first available opportunity regardless of settlement day. 6.8 Payments and Cash transfers will only be made if the Account has a cleared credit balance after deductions for any amounts relating to purchases pending settlement 6.9 Cash payments and transfers cannot be made to Third Parties. 6.10 Interest accrued on sterling Account Money not immediately committed for investment shall be calculated monthly at 1% below the published HSBC standard current account rate. Interest accrued of less that £1.00 arising on each payment event shall be for our benefit. No interest will be paid on non-sterling Account money.than

Monies held by us. 6.1 Subject to clauses 6.3 to 6.4 below, Account Money accepted by us from you, or for you from a third party, in connection with the Service will be treated as Client Money in accordance with the FCA rules, which means that it will be segregated from our other monies and held in trust in a pooled designated client bank account with monies from other clients at National Westminster Bank plc (or at any other authorised deposit taking institution that we may from time to time nominate. 6.2 Clause 6.3 below describes the kind of designated client bank account in which Account Money may be held. Clause 6.4 below describes when we are not obliged to treat money due to or from you as Client Money. 6.3 Account Money may be held in a designated client bank account which may restrict withdrawals for up to 95 days. We maintain a client money policy which states the maximum amounts which we would place that are placed in such accounts, the reasons for using such accounts and the risks of doing so. As per our client money policy, we will ensure that at least 10% of the total client money pool is held outside these unbreakable term deposits (i.e. immediately available, or available within 30 days). All client money is held with institutions that meet our risk management parameters – these parameters include credit ratings, capital requirements and whether deposits held are protected by government schemes (such as the Financial Services Compensation Scheme (FSCS) in the UK). 6.4 You agree that we will not be obliged to treat monies as Client Money in respect of a delivery versus payment transaction through a Commercial Settlement system if it is intended that: i) in respect of a purchase of investments by you, money from you will be due to us within one Business Day upon fulfilment of the delivery obligation; and ii) in respect of a sale of investments by you, money is due to you within one Business Day following fulfilment of the delivery obligation, unless in either case the payment or delivery has not occurred by the close of business on the third Business Day following the date on which payment or delivery was due. 6.5 Account money committed for investment will be debited from the Account at the time of a Transaction and may be transferred to a designated client money settlement account. Interest shall accrue for our benefit pending settlement once monies have been committed for investment. 6.6 Ad hoc payment requests and cash transfers will only be made for amounts of more than £5.00. This does not apply to the payments made pursuant to our quarterly dividend income payment service. 6.7 Any available cleared cash balance on your Account will be assigned to the next unsettled Transaction at the first available opportunity regardless of settlement day. 6.8 Payments and Cash transfers will only be made if the Account has a cleared credit balance after deductions for any amounts relating to purchases pending settlement 6.9 Cash payments and transfers cannot be made to Third Parties. 6.10 Interest accrued on sterling Account Money not immediately committed for investment shall be calculated monthly at 1% below the published HSBC standard current account rate. Interest accrued of less that £1.00 arising on each payment event shall be for our benefit. No interest will be paid on non-sterling Account money.