Common use of Switching Clause in Contracts

Switching. 7.1 Subject to the terms and conditions set out in the trust deed and the Prospectus of the relevant Unit Trust and as may be permitted by the Bank, the Customer may only switch units between opened-ended funds managed by the same Issuer. Switching of funds denominated in foreign currency is subject to the relevant Issuer’s approval. 7.2 Switching is subject to the Issuer’s terms and conditions. In the event where switching is permitted and the Customer chooses to switch, the Customer acknowledges that: (a) the Customer will not receive any refund of initial sales charges in relation to the purchase agreement in respect of the original Unit Trust ; (b) it is not certain whether the Customer would be in a better or worse position if the Customer switches Unit Trust (as opposed to cancelling); (c) the Customer may incur switching related fees (which vary depending on the applicable Issuer); and (d) the Customer will not have the right to cancel in respect of any Unit Trust that he switches into if the application to switch is submitted by the Customer to the Bank after the relevant cut- off time notified by the Bank.

Switching. 7.1 Subject to the terms and conditions set out in the trust deed and the Prospectus of the relevant Unit Trust and as may be permitted by the Bank, the Customer may only switch units between opened-ended funds managed by the same Issuer. Switching of funds denominated in foreign currency is subject to the relevant Issuer’s approval. 7.2 Switching is subject to the Issuer’s terms and conditions. In the event where switching is permitted and the Customer chooses to switch, the Customer acknowledges that: (a) the Customer will not receive any refund of initial sales charges in relation to the purchase agreement in respect of the original Unit Trust Trust; (b) it is not certain whether the Customer would be in a better or worse position if the Customer switches Unit Trust (as opposed to cancelling); (c) the Customer may incur switching related fees (which vary depending on the applicable Issuer); and (d) the Customer will not have the right to cancel in respect of any Unit Trust that he switches into if the application to switch is submitted by the Customer to the Bank after the relevant cut- off time notified by the Bank.

Switching. 7.1 Subject to the terms and conditions set out in the trust deed and the Prospectus of the relevant Unit Trust and as may be permitted by the Bank, the Customer may only switch units between opened-ended funds managed by the same Issuer. Switching of funds denominated in foreign currency is subject to the relevant Issuer’s approval. 7.2 Switching is subject to the Issuer’s terms and conditions. In the event where switching is permitted and the Customer chooses to switch, the Customer acknowledges that: (a) the Customer will not receive any refund of initial sales charges in relation to the purchase agreement in respect of the original Unit Trust Trust; (b) it is not certain whether the Customer would be in a better or worse position if the Customer switches Unit Trust (as opposed to cancelling); (c) the Customer may incur switching related fees (which vary depending on the applicable Issuer); and (d) the Customer will not have the right to cancel in respect of any Unit Trust that he switches into if the application to switch is submitted by the Customer to the Bank after the relevant cut- cut-off time notified by the Bank...