Common use of SCOPE OF MANDATE, REGULATORY STATUS AND GOVERNING LAW Clause in Contracts

SCOPE OF MANDATE, REGULATORY STATUS AND GOVERNING LAW. 1.1. The terms and conditions set out herein shall¸ subject always to Proviso 3, govern all relations between us and you in connection with the accounts from time to time maintained by you with us (the "Accounts") and, shall supersede all previous mandates or account agreements (other than the Agreement), between you and us. You hereby represent and warrant that you will establish and maintain all Accounts as principal and that you are the sole beneficial owner of the Accounts (unless otherwise provided in the relevant Transaction Documents) and that any funds that are from time to time deposited in any Account are not derived from any unlawful activity.