Common use of Statutory Accounts Clause in Contracts

Statutory Accounts. The provisions of this Account Agreement as they relate to joint accounts (including right of survivorship), the application of monies from one account against debits in another and closing accounts do not apply to TFSA, RRSP, RRIF or RESP accounts or any other similar type of accounts opened under specific statutory authority granting special tax deferral or other benefits whether opened pursuant to the Income Tax Act of other similar legislation ("statutory accounts"). I agree that each statutory account will be the subject of a separate agreement between us and that such separate statutory agreement will apply in the event of a conflict between it and this Account Agreement.

Statutory Accounts. The provisions of this Account Agreement as they relate to joint accounts (including right of survivorship), the application of monies from one account against debits in another and closing accounts do not apply to TFSA, RRSP, RRIF or RRIF, RESP accounts or any other similar type of accounts opened under specific statutory authority granting special tax deferral or other benefits whether opened pursuant to the Income Tax Act of or other similar legislation ("statutory accounts"). I agree that each statutory account will be the subject of a separate agreement between us and that such separate statutory agreement will apply in the event of a conflict between it and this Account Agreement.