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TERMS AND CONDITIONS FOR SECURITIES TRADING (“SHAREDEAL”)
Valid and effective from 12 September 2016
INDEX
1. INTRODUCTION
2. OUR EXECUTION OF ORDERS
3. PLACING OF ORDERS
4. TRADING SECURITIES
5. LIMIT ORDERS
6. EFFECT OF LIMIT ORDERS
7. OUR RIGHT NOT TO EXECUTE YOUR ORDER
8. CANCELLATIONS
9. COMMUNICATIONS
10. DELIVERY AND PAYMENT (SETTLEMENT)
11. TRADING CHARGES
12. OUR LIABILITY
13. MATERIAL INTERESTS AND CONFLICTS
14. IMPORTANT INFORMATION ABOUT
COMPENSATION ARRANGEMENTS
15. STATUTORY RIGHTS
16. LENDING AND BORROWING
17. VARIATION AND AMENDMENTS
ARCHITAS MULTI –MANAGER INVESTMENTS ICVC
II – AN OEIC ONLY
1.
INTRODUCTION
1.1.
Danske Bank is a trading name of Northern
Bank Limited. Northern Bank Limited is
authorised by the Prudential Regulation
Authority and regulated by the Financial
Conduct Authority and the Prudential
Regulation Authority (reference 122261).
We comply with the FCA’s requirements to
pay due regard to customers’ interests and to
treat customers fairly. Details of our
registration can be found at
https://register.fca.org.uk or by contacting the
FCA on 08001116768 .or 0300 500 8082.
Northern Bank Limited is a wholly owned
subsidiary of the Danske Bank A/S.
We recommend that you read these terms
and conditions and if there is anything which
you do not understand, then please contact us
for clarification. Our contact details are in
clause 9.
In these terms and conditions:
1.2.
1.3.
SCHEDULE 1: SECURITIES MARKETS AVAILABLE
TO DANSKE BANK RETAIL CUSTOMERS
SCHEDULE 2: RISK WARNINGS – SPECIFIC RISK
WARNINGS
SCHEDULE 3: DANSKE BANK – ORDER EXECUTION
POLICY
1.4.
”We”, “Us”, “Our” or “the Bank” means
Northern Bank Limited having its registered
office address at Donegall Square West
Belfast (registered number R568).
1.5.
1.6.
“Current Account” means a current account
in your name with the Bank.
SCHEDULE 4: TRADING/BROKERAGE CHARGES
PAID BY THE CUSTOMER
“Danske Bank A/S” means our parent
company, with its head office at Holmens
Kanal 2-12, Copenhagen, authorised by the
Danish Financial Supervisory Authority.
SCHEDULE 5: SUPPLEMENTAL TERMS &
CONDITIONS FOR DEALING IN SHARES OF
“Sub-Custodian” means any sub-custodian
appointed by Danske Bank A/S.
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
“You(r)(s)” means you the customer using
the Sharedeal service and, where applicable,
your duly authorised representatives and
legal personal representatives.
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
1.7.
Danske Bank A/S will act as the global subcustodian of your Securities and will be
responsible for the execution of all orders on
our behalf. This may change and you will be
notified in accordance with clause 9.
The Bank's Securities Trading service
("Sharedeal") is an execution-only service. We
are therefore not required to assess the
suitability of Sharedeal for you as this is an
execution only service. You are not entitled to
benefit from the protection of the rules on
assessing suitability pursuant to the FCA
Rules. We will not advise you on the merits of
your investment decisions and do not accept
responsibility for the consequences of your
decisions or for the suitability of any
investment in which you deal through this
service. We make no representations and
give no warranties as to the performance of
any investment you may acquire through this
service.
We may need to obtain information from you
and assess the appropriateness of some
transactions for you before we can deal on
your behalf. This may on occasions result in a
delay in our carrying out transactions for you.
If you do not (or are unable to) provide us with
the information we request or we consider
that the transaction is not appropriate for
you, we may not be able to deal on your behalf.
1.8. Most investment decisions and procedures
involve risks or other factors of which you
should be aware. We have therefore set out
in the Schedule 2 to these Terms and
Conditions certain risk warnings that relate to
the Services.
1.9. These Terms and Conditions for Securities
Trading (“Sharedeal")(the Terms and
Conditions) outline the terms which apply
when you trade the securities held in your
Custody Account and/or the cash held in the
Current Account related to your Custody
Account through the Bank's Sharedeal
service.
1.10. These Terms and Conditions together with
the Terms and Conditions for Custody
Accounts form the contract between you and
us for the provision of the Sharedeal service.
The Definitions, the General Terms and the
Schedule set out in the Terms and Conditions
for Custody Accounts will apply to all
securities trades that you undertake
pursuant to these Terms and Conditions as if
they were set out in full and repeated in these
Terms and Conditions.
1.11. If you trade through the Bank's eBanking
service, the Terms and Conditions and
agreements relating to those services will
each apply as appropriate. The Terms and
Conditions for Your Current Account will also
apply subject to these Terms and Conditions.
Amounts may be paid into and out of your
Current Account on your instructions placed
in accordance with Clause 3 (Placing of
Orders) through any other current account
that you hold with us.
1.12. We may change these Terms and Conditions
in accordance with clause 19 of Terms and
Conditions for Custody Accounts
1.13. The service will currently enable you to trade
in the categories of securities listed in
Schedule 1. That list may change from time to
time without notice to you and a current list
will be available on request. If You have any
dealings in:
 “A” Class Shares in Architas MA Blended
Intermediate Fund,
 “A” Class Shares in Architas MA Blended
Reserve Fund,
 “A” Class Shares in Architas MA Blended
Moderate Fund or
 “A” Class Shares in Architas MA Blended
Progressive Fund
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
2.3.
2.4.
3.
PLACING OF ORDERS
3.1.
You can place orders through eBanking or by
telephone.
We recommend that you trade through
eBanking for the purpose of ensuring that you
are quickly identified and that your order is
executed correctly and more cost effectively.
When we have received your order, it is
binding for you.
If you have any dealings in:
 “A” Class Shares in Architas MA
Blended Intermediate Fund,
 “A” Class Shares in Architas MA
Blended Reserve Fund,
 “A” Class Shares in Architas MA
Blended Moderate Fund or
 “A” Class Shares in Architas MA
Blended Progressive Fund
you should refer to the ‘Supplemental Terms
and Conditions for dealing in Shares of
Architas Multi-Manager Investments ICVC II –
An OEIC Only’ which are set out in Schedule 5.
3.2.
you should refer to the ‘Supplemental Terms
and Conditions for dealing in Shares of
Architas Multi-Manager Investments ICVC II –
An OEIC Only’ which are set out in Schedule 5.
3.3.
2.
OUR EXECUTION OF ORDERS
3.4.
2.1.
When we receive an order from you, we will
generally act in accordance with our Order
Execution Policy as amended from time to
time. In the absence of any specific
instructions from you, we will transmit your
order to Danske Bank A/S for execution.
We are satisfied that Danske Bank A/S has
policies and procedures in place which enable
it to deliver the best possible result for you
upon execution. In particular, Danske Bank
A/S will use execution venues that will treat
total consideration (price and costs) as the
2.2.
Page 2 of 17
most important factor although other factors
(such as speed, likelihood of execution and
settlement, size or any other relevant
conditions) may also be taken into account.
We will monitor periodically the effectiveness
of our Order Execution Policy and related
arrangements for dealing with client orders
with a view to achieving the best possible
result. Information on our current Order
Execution Policy is set out in Schedule 3 to
these Terms and Conditions.
We will execute your order in accordance
with the requirements of Clause 4 (Trading
Securities) and our Order Execution Policy.
4.
TRADING SECURITIES
4.1.
In fulfilling our obligations under Clause 2, and
subject to your instructions, we shall take all
reasonable steps to obtain the best possible
result for you when we transmit orders to
Danske Bank A/S for execution, which may
act as agent, through a sub-custodian, broker
or market maker and may choose the
currency in which the transaction is settled.
Clause 2 sets out details of our Order
Execution Policy which enables us to act in
your best interests when transmitting orders
to Danske Bank A/S for execution. We shall
charge brokerage in addition to any dealing
costs and expenses incurred, in accordance
with Clause 11 Trading Charges.
Your order may be split or aggregated with
other orders (including the orders of other
Group companies and our and their
employees) and may therefore be traded at
different prices. Aggregation may on some
occasions operate to your advantage and on
others to your disadvantage in relation to a
particular order.
Your order will be executed in accordance
with the rules and regulations of the relevant
market or exchange and all such steps may
be taken as may be required or permitted by
such rules and regulations and/or by
appropriate market practice.
Your order will ordinarily be executed during
the official opening hours of the relevant
market. For operational reasons, in certain
markets we can only accept trading orders
until 4pm. For such markets, where orders
are received after 4pm, we will not execute
the order before the market re-opens on the
next Business Day.
4.2.
4.3.
4.4.
4.5.
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
4.6.
4.7.
4.8.
Your order will lapse if it cannot be executed
on the day it is received in the relevant
market. However, a limit order may be
maintained until an agreed period has expired.
Danske Bank A/S may not be able to execute
an order for some considerable time due to
prevailing market conditions (e.g. high
volatility/trading volumes or otherwise), the
illiquid nature of certain stocks and bonds,
delays in order transmission and/or other
circumstances beyond its control.
There may be a significant difference between
the indicative price quoted at the time of
placing your order and the price at which your
order is executed.
Page 3 of 17
security has been suspended or a similar
event.
8.
CANCELLATIONS
8.1.
You cannot cancel an instruction that you
have given to us using Sharedeal with the
exception only of instructions for purchase
of shares of Architas Multi-Manager
Investments ICVC II. Please see the
“Supplemental Terms and Conditions for
dealing in shares of Architas MultiManager Investments ICVC II - An OEIC
Only” set out in Schedule 5.
9.
COMMUNICATIONS
9.1.
All communications between you and the
Bank should (unless stated otherwise in the
Terms) be conducted in the English
Language in writing (including where
appropriate by secure e-mail) and directed
to us at Danske Bank, Private Banking &
Wealth Management, Donegall Square
West, Belfast BT1 6JS.
We may communicate with you by
telephone. Note that we may record or
monitor calls to confirm details of our
conversations, for your protection, to train
our staff and to maintain the quality of our
service.
5.
LIMIT ORDERS
5.1.
If you want to buy or sell at a specific price,
you may limit the order for a predetermined
period of up to 30 calendar days. The order
will then be executed when the price reaches
the price determined by you.
6.
EFFECT OF LIMIT ORDERS
6.1.
If you have agreed that your order for
securities is to be a limit order, we will
execute the transaction only if we can trade at
the limit price. However, we may execute part
of the order.
7.
OUR RIGHT NOT TO EXECUTE YOUR
ORDER
10.
7.1.
Danske Bank A/S reserves the right not to
execute an order where, in their judgment, it
is reasonable to do so, for example there are
insufficient funds to settle the trade or the
10.1. Settlement means the delivery and payment
in connection with a securities trade.
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
9.2.
DELIVERY AND PAYMENT
(SETTLEMENT)
10.2. For most securities the settlement date is
the second Business Day after the trade
date.
10.3. Settlement will take place in accordance
with the provisions of the Terms and
Conditions for Custody Accounts.
10.4. In addition, in relation to any securities that
we acquire for you under these Terms and
Conditions for Securities Trading
(”Sharedeal”) but for which insufficient
funds are available in your Current Account
upon settlement, we reserve the right to
sell those securities and apply the proceeds
towards settlement of your outstanding
obligations. Any balance will be credited to
your Current Account.
11.
TRADING CHARGES
11.1. We charge brokerage for all types of trades
at the prices in force from time to time. All
brokerage and any applicable dealing costs
and expenses from time to time, plus any
applicable value added tax or other taxes,
will be debited to your Current Account.
11.2. Trading charges are generally lower for
trades through eBanking than for trades
conducted by telephone. The current prices
are shown in the list of trading charges in
Schedule 4.
11.3. HM Treasury requires a Stamp Duty
Reserve Tax (SDRT) charge to apply to
transfers of stock and marketable
securities at the applicable rate at the time
of the transfer.
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
12.
OUR LIABILITY
12.1. We accept responsibility to you to the
extent and subject to the limitations set out
in Clause 8 of the Terms and Conditions for
Custody Accounts (Liability).
12.2. The Terms and Conditions for Custody
Accounts will apply to your securities
trading activities and we accept additional
responsibility, in accordance with and
subject to the limitations set out in those
terms, in respect of any loss (as defined in
those terms) that is due to the negligence,
wilful default, breach of contract or fraud of
any third party which is a member of the
Danske Bank Group and with or through
which we may trade in Securities for you
pursuant to these terms and conditions.
13.
MATERIAL INTERESTS AND CONFLICTS
13.1. We refer you to clause 23 of the Custody
Account Terms & Conditions.
14.
IMPORTANT INFORMATION ABOUT
COMPENSATION ARRANGEMENTS
14.1. We are covered by the Financial Services
Compensation Scheme (FSCS). The FSCS
can pay compensation if we are unable to
meet our financial obligations. Most types
of investment business are covered up to a
maximum limit of £50,000.
14.2. For further information about the
compensation provided by the FSCS
(including the amounts covered and
eligibility to claim) please ask at your local
branch, refer to the FSCS website
www.FSCS.org.uk or call 0800 6781100
or 020 7741 4100. Please note only
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Page 4 of 17
compensation related queries should be
directed to the FSCS.
14.3. The limits stated in this clause 14 are
correct at the time of publication and are
subject to change by FSCS. We will notify
you of any changes.
15.
STATUTORY RIGHTS
15.1. Nothing in these Terms will reduce your
statutory rights relating to faulty or
misdescribed services. For further
information about your statutory rights
contact your local authority trading
standards department or Citizens Advice
Bureau.
16.
LENDING AND BORROWING
16.1. Securities belonging to you will not be lent
to, or deposited by way of collateral by us,
with any third party nor will money be
borrowed on your behalf by us against your
Securities.
17.
VARIATIONS AND AMENDMENTS
17.1. We may, for any reason set out in Clause
17.6 below:
17.1.1. introduce a fee or service charge
relating to the Service and/or vary
the amount, frequency or time for
payment of any fees or service
charges relating to the Service;
17.1.2. add to, remove, change or impose
restrictions on the benefits of the
Service;
17.1.3. make any change to these Terms.
17.2. Subject to clause 17.5, where we make a
change as set out in Clause 17.1 we will
always give you a minimum of 30 calendar
days written notice and if you are not happy
with the change then you can end your
agreement with us without having to pay
any extra charges (save charges incurred
or to be incurred in connection with an
Order placed by you).
17.3. We may communicate such changes by
sending a summary of the proposed
changes to you. This summary will contain a
reference to our Website, where we will
provide detailed information relating to the
changes and/or revised terms and
conditions. However, if you ask us, we will
send you hard copies of the detailed
information and/or a copy of the revised
terms and conditions. If we have made a
major change or a lot of minor changes in
any one year, we will provide you with a
copy of the new terms and conditions or a
summary of the changes.
17.4. Once we have given you notice of the
proposed changes, if you do not tell us that
you object to the changes, before the date
on which they are due to come into effect,
then they will take effect on the date
indicated.
17.5. In the event of any change in applicable law
or regulation, or in other circumstances
outside our control, we may change the
Terms without notice or give such period of
notice as we consider, on reasonable
grounds, to be justified.
17.6. The changes referred to in Clause 17.1 will
be made for one or more of the following
reasons:
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
17.6.1. by agreement with you;
17.6.2. to reflect the introduction or
development of new systems,
methods of operation, services or
changes in technology provided
that the change is a proportionate
response to the underlying reason
for the change;
17.6.3. to maintain or improve operating
conditions or service levels;
17.6.4. to respond proportionately to any
change or expected change in
market conditions, general banking
practice or the cost of providing
services to customers (including
any charges made by the Global
Custodian);
17.6.5. to respond proportionately to legal
or regulatory changes. This would
include:
 changes in general law or taxation
or decisions of the Financial
Ombudsman Service or any
regulator,
 changes in regulatory
requirements of the FCA, the PRA
or other regulatory body,
 changes in industry guidance and
codes of practice which raise
standards of consumer
protection;
17.6.6. to ensure that our business as a
whole is profitable and competitive
and that our product range and
charging structure enables us to
achieve our business and strategic
objectives (which are set internally)
- provided that any such change is
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Page 5 of 17
reasonable and does not result in
you being treated unfairly;
17.6.7. to make these Terms fairer or
clearer for you;
17.6.8. to make changes and
improvements to our products,
services or charging structures
where the changes are of benefit to
you;
17.6.9. for any other valid reason which is
not specified in this Clause 17.6
provided that the change is a
proportionate and reasonable
response to the underlying reason
for the change.
Page 6 of 17
SCHEDULE 1: SECURITIES MARKETS
AVAILABLE TO DANSKE BANK
RETAIL CUSTOMERS
•
Securities Markets available to Danske Bank
Retail customers via Sharedeal - eBanking Nordic Markets (Denmark/Sweden /
Norway/Finland) / Republic of Ireland / United
Kingdom / France / Germany / Netherlands /
Portugal / Spain / Switzerland / USA / Canada.
•
Securities Markets available to Danske Bank
Retail customers via Sharedeal - Telephone - all
of the above plus - Australia / Austria / Belgium
/ Hong-Kong / Hungary / Italy /Japan / New
Zealand / Poland / Thailand / Bulgaria / Estonia
/ Iceland / Latvia / Lithuania / Malaysia /
Philippines / Romania / Slovenia / South Africa.
•
Other Securities Markets available to Danske
Bank Retail customers - only on request - via
Sharedeal - Telephone Croatia / Cyprus / Greece / Indonesia / Israel /
Russia / Serbia / Sri Lanka
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
SCHEDULE 2: RISK WARNINGS
Specific Risk Warnings
1.4.
This notice is provided to you, as a Retail
customer, in compliance with the rules of the
Financial Conduct Authority ("FCA"). Retail
customers are afforded greater protections under
these rules than other customers.
1.5.
This notice cannot disclose all the risks and other
significant aspects of warrants and/or derivative
products such as futures, options, and contracts
for differences. You should not deal in these
products unless you understand their nature and
the extent of your exposure to risk. You should
also be satisfied that the product is suitable for
you in the light of your circumstances and
financial position. Certain strategies such as "a
spread" position or a "straddle" may be as risky as
a simple "long" or "short" position.
1.7.
Although warrants and/or derivative instruments
can be utilised for the management of investment
risk, some of these products are unsuitable for
many investors. Different instruments involve
different levels of exposure to risk and in deciding
whether to trade in such instruments you should
be aware of the following points.
1.
GENERAL
1.1.
The price of shares and other traded assets
and any income from them can go down as
well as up.
It is possible that the value may fall below
the original investment and you may not
receive back the amount you invested.
Dividends are not guaranteed and may vary
from year to year.
1.2.
1.3.
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
1.6.
1.8.
Young or small companies seeking growth
or those in financial difficulty may not pay a
dividend at all.
Shares have greater potential than bonds
or cash to cause your capital to lose value.
Past performance is not necessarily a guide
to future performance. There can be no
certainty concerning the future
performance of your investment return.
Changes in legal, tax and regulatory
regimes, including the bases and reliefs
available may occur which may have an
adverse effect on the price or value of your
assets.
Fixed interest investments may be
purchased above or below their nominal
value. For such investments purchased
above their nominal value, a capital loss
may be incurred on maturity.
2.
WARRANTS
2.1.
A warrant is a time-limited right to
subscribe for shares, debentures, loan
stock or government securities and is
exercisable against the original issuer of
the underlying securities. A relatively small
movement in the price of the underlying
security results in a disproportionately
large movement, unfavourable or
favourable, in the price of the warrant. The
prices of warrants can therefore be volatile.
It is essential for anyone who is considering
purchasing warrants to understand that the
right to subscribe, which a warrant confers,
is invariably limited in time with the
consequence that, if the investor fails to
exercise this right within the predetermined
2.2.
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
2.3.
Page 7 of 17
time-scale, the investment becomes
worthless.
You should not buy a warrant unless you
are prepared to sustain a total loss of the
money you have invested plus any
commission or other transaction charges
3.
OFF EXCHANGE WARRANT
TRANSACTIONS
3.1.
Transactions in off-exchange warrants may
involve greater risk than dealing in
exchange traded warrants because there is
no exchange market through which to
liquidate your position, or to assess the
value of the warrant or the exposure to risk.
Bid and offer prices need not be quoted, and
even where they are, they will be
established by dealers in these instruments
and consequently it may be difficult to
establish what is a fair price.
If you are entering into an off-exchange
transaction you should ensure you have
been advised of any risks involved.
3.2.
4.
FUTURES
4.1.
Transactions in futures involve the
obligation to make, or to take, delivery of the
underlying asset of the contract at a future
date or, in some cases, to settle the
position with cash. They carry a high degree
of risk. The 'gearing' or 'leverage' often
obtainable in futures trading means that a
small deposit or down payment can lead to
large losses as well as gains. It also means
that a relatively small movement can lead to
a proportionately much larger movement in
the value of your investment, and this can
work against you as well as for you. Futures
transactions have a contingent liability, and
you should be aware of the implications of
this; in particular the margining
requirements, which are set out in
paragraph 9.
5.
OPTIONS
5.1.
There are many different types of options
with different characteristics subject to the
following conditions:
5.1.1.
5.1.2.
Buying options involves less risk
than selling options because, if the
price of the underlying asset moves
against you, you can simply allow
the option to lapse. The maximum
loss is limited to the premium, plus
any commission or other
transaction charges. However, if
you buy a call option on a futures
contract and you later exercise the
option, you will acquire the future.
This will expose you to the risks
described under 'futures'
(paragraph 4) and 'Contingent
Liability Investment Transactions'
(paragraph 9).
Writing options: If you write an
option, the risk involved is
considerably greater than buying
options. You may be liable for a
margin to maintain your position
and a loss may be sustained well in
excess of the premium received. By
writing an option, you accept a legal
obligation to purchase or sell the
underlying asset if the option is
exercised against you, however far
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
5.1.3.
the market price has moved away
from the exercise price. If you
already own the underlying asset
which you have contracted to sell
(when the options will be known as
'covered call options') the risk is
reduced. If you do not own the
underlying asset ('uncovered call
options') the risk can be unlimited.
Only experienced persons should
contemplate writing uncovered
options, and then only after
securing full details of the
applicable conditions and potential
risk exposure.
Traditional options: Certain London
Stock Exchange member firms
under special exchange rules write
a particular type of option called a
'traditional option'. These may
involve greater risk than other
options. Two-way prices are not
usually quoted and there is no
exchange market on which to close
out an open position or to effect an
equal and opposite transaction to
reverse an open position. It may be
difficult to assess its value or for
the seller of such an option to
manage his exposure to risk.
Certain options markets operate on
a margined basis, under which
buyers do not pay the full premium
on their option at the time they
purchase it. In this situation you
may subsequently be called upon to
pay a margin on the option up to the
level of your premium. If you fail to
do so as required, your position
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Page 8 of 17
may be closed or liquidated in the
same way as a futures position.
6.
CONTRACTS FOR DIFFERENCE
6.1.
Futures and options contracts can also be
referred to as contracts for difference.
These can be options and futures on the
FTSE 100 index or any other index, as well
as currency and interest rate swaps.
However, unlike other futures and options,
these contracts can only be settled in cash.
Investing in a contract for difference carries
the same risks as investing in a future or an
option and you should be aware of these as
set out in paragraphs 4 and 5 respectively.
Transactions in contracts for difference
may also have a contingent liability and you
should be aware of the implications of this
as set out in paragraph 9.
7.
OFF- EXCHANGE TRANSACTIONS IN
DERIVATIVES
7.1.
It may not always be apparent whether or
not a particular derivative is arranged on
exchange or in an off-exchange derivative
transaction. You should ensure that it is
clear to you if you are entering into an offexchange derivative transaction.
While some off-exchange markets are
highly liquid, transactions in off-exchange or
'non transferable' derivatives may involve
greater risk than investing in on-exchange
derivatives because there is no exchange
market on which to close out an open
position. It may be impossible to liquidate
an existing position, to assess the value of
the position arising from an off-exchange
transaction or to assess the exposure to
risk. Bid prices and offer prices need not be
quoted, and, even where they are, they will
be established by dealers in these
instruments and consequently it may be
difficult to establish what is a fair price.
8.
FOREIGN MARKETS
8.1.
Foreign markets will involve different risks
from the UK markets. In some cases the
risks will be greater. On request, we must
provide an explanation of the relevant risks
and protections (if any) which will operate in
any foreign markets, including the extent to
which we will accept liability for any default
of a foreign firm through whom we deal. The
potential for profit or loss from
transactions on foreign markets or in
foreign denominated contracts will be
affected by fluctuations in foreign exchange
rates.
9.
CONTINGENT LIABILITY INVESTMENT
TRANSACTIONS
9.1.
Contingent liability investment
transactions, which are margined, require
you to make a series of payments against
the purchase price, instead of paying the
whole purchase price immediately.
If you trade in futures contracts for
differences or sell options, you may sustain
a total loss of the margin you deposit with
your firm to establish or maintain a
position. If the market moves against you,
you may be called upon to pay substantial
additional margin at short notice to
9.2.
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
9.3.
9.4.
10.
maintain the position. If you fail to do so
within the time required, your position may
be liquidated at a loss and you will be
responsible for the resulting deficit.
Even if a transaction is not margined, it may
still carry an obligation to make further
payments in certain circumstances over
and above any amount paid when you
entered the contract.
Except as specifically provided by the FCA,
we may only carry out margined or
contingent liability transactions with or for
you if they are traded on or under the rules
of a recognised or designated investment
exchange. Contingent liability investment
transactions which are not so traded may
expose you to substantially greater risks.
LIMITED LIABILITY TRANSACTIONS
10.1. Before entering into a limited liability
transaction, you should obtain a formal
written statement confirming that the
extent of your loss liability on each
transaction will be limited to an amount
agreed by you before you enter into the
transaction.
10.2. The amount you can lose in limited liability
transactions will be less than in other
margined transactions, which have no
predetermined loss limit. Nevertheless,
even though the extent of loss will be
subject to the agreed limit, you may sustain
the loss in a relatively short time. Your loss
may be limited, but the risk of sustaining a
total loss to the amount agreed is
substantial.
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
11.
Page 9 of 17
COLLATERAL
11.1. If you deposit collateral as security, the way
in which it will be treated will vary according
to the type of transaction and where it is
traded.
11.2. There could be significant differences in the
treatment of your collateral depending on
whether you are trading on a recognised or
designated investment exchange, with the
rules of that exchange (and the associated
clearing house) applying, or trading offexchange.
11.3. Deposited collateral may lose its identity as
your property once dealings on your behalf
are undertaken.
11.4. Even if your dealings should ultimately
prove profitable, you may not get back the
same assets which you deposited, and may
have to accept payment in cash. You
should ascertain how your collateral will be
dealt with.
12.
COMMISSION
12.1. Before you begin to trade, you should obtain
details of all charges for which you will be
liable. If any charges are not expressed in
money terms (but, for example, as a
percentage of contract value), you should
obtain a clear and written explanation,
including appropriate examples, to
establish what such charges are likely to
mean in specific money terms.
12.2. In the case of futures, when charges are
applied as a percentage, it will normally be
as a percentage of the total contract value,
and not simply as a percentage of your
initial payment.
15.
13.
SUSPENSIONS OF TRADING
13.1. Under certain trading conditions it may be
difficult or impossible to liquidate a position.
This may occur, for example, at times of
rapid price movements if the price rises or
falls in one trading session to such an
extent that, under the rules of the relevant
exchange, trading is suspended or
restricted.
13.2. Placing a stop-loss order will not
necessarily limit your losses to the
intended amounts, because market
conditions may make it impossible to
execute such an order at the stipulated
price.
14.
INSOLVENCY
CLEARING HOUSE PROTECTIONS
14.1. On many exchanges, the performance of a
transaction by us (or a third party with
whom we are dealing on your behalf) is
“guaranteed” by the exchange or clearing
house. However, this guarantee is unlikely
in most circumstances to cover you, the
customer, and may not protect you if we or
another party defaults on its obligations to
you.
14.2. On request, we must explain any protection
provided to you under the clearing
guarantee applicable to any on-exchange
derivatives in which you are dealing. There
is no clearing house for traditional options,
nor normally for off-exchange instruments
which are not traded under the rules of a
recognised or designated investment
exchange.
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
15.1. Our insolvency or default, or that of Danske
Bank A/S or any Sub-Custodian or brokers
involved with your transaction, may lead to
positions being liquidated or closed out
without your consent. In certain
circumstances, you may not get back the
actual assets which you lodged as collateral
and you may have to accept any available
payments in cash. On request, we must
provide an explanation of the extent to
which we will accept liability for any
insolvency of, or default by, other firms
involved with your transaction.
16.
NON READILY REALISABLE
INVESTMENTS
16.1. From time to time we may offer you or deal
in investments that are non-readily
realisable investments. A non-readily
realisable investment is an investment that
has a restricted market and it may
therefore be difficult to deal in that
investment or to obtain reliable information
about its value.
17.
STRUCTURED CAPTIAL AT RISK
17.1. You may deal in “capital at risk products".
These products are not derivatives but
provide a level of income or growth over a
specified investment period that display the
following characteristics
17.1.1. you may be exposed to a wide range
of negative or positive outcomes in
respect of the likelihood of the
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Page 10 of 17
return of your capital or any part of
it;
17.1.2. the return of capital at the end of
the investment period is linked by a
pre-set formula to the performance
of an index, a combination of indices
or other factor or combination of
factors;
17.1.3. if the investment performance is
outside specified limits you may
lose some or all of the initial capital
invested.
17.2. Therefore:
17.2.1. The return of the initial capital
invested at the end of the
investment period is not
guaranteed and you may receive
back less than you originally
invested.
17.2.2. A small percentage fall in an index
can result in a larger percentage
reduction in the amount repaid to
you.
17.2.3. Early redemption can result in
redemption penalties and a poor
return.
17.2.4. Initial capital invested can be
placed into high risk investments,
such as a non investment grade
bond.
17.2.5. The rate of income or growth may
depend on specified conditions
being met.
17.2.6. You should not enter into the
transaction unless you are
prepared to lose some or all of the
money you have invested.
18.
18.1. All bonds carry risk – their market value
can fluctuate and the issuer may default on
either income payments or the return of
capital. The security of any bond is
dependent upon the financial standing of
the provider. Regardless of the bond's
pedigree, absolute guarantees of security
cannot be given.
19.
FOREIGN CURRENCY RISK
19.1. Investing overseas introduces currency risk
(the risk that your returns may reduce
when converted back into sterling).
Changes in the rates of exchange between
currencies may cause your investments to
go down or up. Should there be a change of
currency in any country in which any
securities are denominated (for example a
move into or out of the Euro), this may
impact negatively on your investment
return.
20.
comparable to those applicable to
companies in major markets;
20.2.2. to the same level of government
supervision and regulation of stock
exchanges as countries with more
advanced securities markets.
BONDS
INVESTMENT IN EMERGING MARKETS
20.1. Emerging markets can be much more
volatile than mature economies like the UK.
Political risk, currency risk and less
rigorous stock market regulation may
cause your investments to go down or up.
20.2. Investment in emerging markets may
involve a higher than average risk. In
addition, companies in emerging markets
may not be subject:
20.2.1. to accounting, auditing or financial
reporting standards, practices and
disclosure requirements
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
21.
SMALL COMPANIES
21.1. Smaller companies can be heavily affected
by changes in the economy, short term
changes in investor preferences and a
number of other factors. As a result, they
can be more volatile than, say, the larger
companies that make up the FTSE indices.
22.
STABILISATION
22.1. You should read the explanation below
carefully. This is designed to help you
understand whether you wish your funds to
be invested at all in such investments.
22.2. What is Stabilisation?
22.2.1. Stabilisation enables the market
price of a security to be maintained
artificially during the period when a
new issue of securities is sold to
the public. Stabilisation may affect
not only the price of the new issue
but also the price of other
securities relating to it.
22.2.2. The FCA allows stabilisation in
order to help counter the fact that,
when a new issue comes onto the
market for the first time, the price
can sometimes drop for a time
before buyers are found.
22.2.3. Stabilisation is carried out by a
"stabilisation manager" (normally
the firm chiefly responsible for
bringing a new issue to market). As
long as the stabilising manager
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Page 11 of 17
follows a strict set of rules, he is
entitled to buy back securities that
were previously sold to investors or
allotted to institutions which have
decided not to keep them. The
effect of this may be to keep the
price at a higher level than it would
otherwise be during the period of
stabilisation.
22.2.4. The Stabilisation Rules:
 limit the period when a
stabilisation manager may
stabilise a new issue;
 fix the price at which he may
stabilise in the case of shares
and warrants but not bonds;
 require him to disclose that he
may be stabilising but not that
he is actually doing so.
22.2.5. The fact that a new issue or a
related security is being stabilised
should not be taken as any
indication of the level of interest
from investors, nor of the price at
which they are prepared to buy the
securities.
SCHEDULE 3: DANSKE BANK –
ORDER EXECUTION POLICY
1.
2.
3.
4.
This Order Execution Policy is provided to you
as a Retail client of Danske Bank Private
Banking & Wealth Management and is
applicable to all investment business provided
to you through dealings in Architas MultiManager Investments ICVC II (an OEIC) and
execution-only trading via our Securities
Trading (“Sharedeal”) service.
We are required by the Financial Conduct
Authority (FCA) to act in accordance with your
best interests when we transmit an order to
Danske Bank A/S to buy or sell securities on
your behalf.
We have therefore put in place arrangements
which will enable us to ensure that we take all
reasonable steps to obtain the best possible
result for you, taking into account a number of
factors.
These factors will include price, costs, speed,
likelihood of execution or settlement, size and
nature of the order and any other relevant
considerations.
5.
The importance attached to each of these
factors is determined by reference to the
characteristics of the client, the client order,
the particular financial instrument that is the
subject of the order and the execution venue to
which the order can be directed.
6.
Normally, we deem total consideration (price
and costs) to be the most important factor for
you.
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
7.
Please note that we will have satisfied our
obligation to act in accordance with your best
interests, and will not be required to take the
above factors into account, if you give us
specific instructions on how you would like your
order to be dealt with.
8.
We transmit all orders for all classes of
instrument to Danske Bank A/S for execution.
9.
We have reviewed and assessed the Danske
Bank A/S Order Execution Policy and are
satisfied that Danske Bank A/S has the
necessary arrangements in place which enable
it to deliver the best possible result for you
upon execution.
10. Orders in the various classes of instrument
transmitted to Danske Bank A/S for execution
are dealt with as follows:
10.1 Equity-orders are transmitted for
execution into the following markets
where Danske Bank A/S is a trading
member of the securities exchange –
Denmark, Sweden, Norway, Finland
(Nordic Markets), Republic of Ireland,
Estonia, Latvia and Lithuania (Baltic
Markets).
10.2 Equity-orders in a wide range of
countries, including United Kingdom,
USA, Canada, France, Germany,
Netherlands, Portugal, Spain and
Switzerland (where Danske Bank A/S is
not a trading member of the securities
exchange) are primarily executed via 3rd
party arrangements with Goldman
Sachs International.
10.3 Orders in other securities, for example,
government securities, corporate bonds,
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Page 12 of 17
fixed income are transmitted to Danske
Bank Group Wealth Management (a part
of Danske Bank A/S) for execution.
Danske Bank A/S will execute orders on
the basis of prices obtained from
business partners quoting prices for the
relevant securities. When trading as
buyer or seller Danske Bank A/S
undertakes to obtain the best possible
market price for the specific security.
10.4 Orders in shares or units of collective
investment schemes are transmitted to
Danske Markets (a Division of Danske
Bank A/S) for execution. Orders are
collated within Danske Markets and
placed directly with the fund operator of
the respective fund. In practice as fund
operators provide the sole execution
venue available for this type of security,
we will not be able to take into account
all the execution factors detailed above.
However we do not consider that the
availability of only one execution venue in
these circumstances will prevent the
best possible result being obtained for
you.
11. We are required by the FCA to obtain your prior
consent to our Order Execution Policy. Such
consent will be deemed to have been received
when you first place an order with us after
receipt of this Policy. We will monitor and
review the effectiveness of this Order Execution
Policy and related arrangements. We will notify
you of any required changes. In addition, we will
review the Danske Bank A/S Order Execution
Policy at least annually to ensure that we
continue to obtain the best possible result for
our retail clients.
Page 13 of 17
SCHEDULE 4: TRADING /BROKERAGE CHARGES PAID BY THE CUSTOMER
Telephone
Amount
eBanking
Charge
Minimum
Charge
£ 0 - 10,000
1.75%
£ 28
Flat fee £ 15
£ 10,001 – 20,000
1.25%
Flat fee £ 15
£ 20,001 – 40,000
0.50%
Flat fee £ 25
£ 40,001 – 100,000
0.40%
Flat fee £ 25
£ 100,001 – 300.000
0.30%
Flat fee £ 50
£ >300,000
0.30%
Not Available
£ 0 - 10,000
1.75%
£ 10,001 – 20,000
1.25%
Flat fee £ 25
£ 20,001 – 100,000
0.50%
Flat fee £ 40
£ 100,001 – 300,000
0.50%
Flat fee £ 50
£ >300,000
0.50%
£0 - £10,000
1.75%
£10,000 – 20,000
£>20,000
1.25%
0.50%
ON REQUEST ONLY
ON REQUEST
ONLY
Shares
UK/Republic of Ireland and
Nordic Markets (Denmark /
Sweden / Norway / Finland)
France / Germany / Netherlands /
Portugal / Spain / Switzerland /
USA / Canada
Australia / Austria / Belgium /
Hong Kong / Hungary / Italy /
Japan / New Zealand / Poland /
Thailand / Bulgaria / Estonia /
Iceland / Latvia / Lithuania /
Malaysia / Philippines / Romania /
Slovenia / South Africa
Croatia / Cyprus / Greece /
Indonesia / Israel / Russia / Serbia
/ Sri Lanka
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
£ 40
Flat fee £ 25
Not Available
£40
Not Available
Not Available
Not Available
ON REQUEST
ONLY
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Not Available
Page 14 of 17
Telephone
Amount
eBanking
Charge
Minimum
Charge
£ 0 - 40,000
0.250%
£ 28
Flat fee £ 15
£ 40,001 – 100,000
0.100%
Flat fee £ 25
£ 100,001 – 300,000
0.075%
Flat fee £ 50
£ >300,001
0.075%
Not Available
£ 0 - 40,000
0.250%
£ 40,001 – 100,000
0.100%
£ 100,001 – 300,000
0.075%
Flat fee £ 50
£ >300,001
0.075%
Not Available
Corporate Bonds / Fixed Income & Government Debt Instruments (GILTS)
UK/Ireland
Others 1
£ 40
Flat fee £ 40
Telephone / Non Advised
Amount
Flat fee £ 25
eBanking
Charge
Minimum
Charge
£ 0 - 40,000
0.250%
£ 28
Flat fee £ 15
£ 40,001 – 100,000
0.100%
£ 100,001 – 300,000
0.075%
Flat fee £ 50
£ >300,001
0.075%
Not Available
Collective Funds (OEICS / Unit Trust Funds)
Architas Multi-Manager
Investments ICVC II (Non ISA only)
EXAMPLES:
A customer buys £ 15,000 shares via telephone:
Up to £ 10,000 1.75%
£ 175.00
+ 1.25% of £ 5,000
£ 62.50
Total fee paid
£ 237.50
1
A customer buys £15,000 shares via eBanking:
Flat fee (£ 10,000 – 20,000)
£ 15.00
Total fee paid
£ 15.00
Additional foreign charges may apply
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
Flat fee £ 25
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Page 15 of 17
SCHEDULE 5 - SUPPLEMENTAL TERMS & CONDITIONS FOR DEALING IN SHARES
OF ARCHITAS MULTI-MANAGER INVESTMENTS ICVC II – AN OEIC ONLY
Valid and effective from 01 June 2015
These Terms and Conditions are supplemental to
the Terms and Conditions for Securities Trading
(“Sharedeal”) and the Terms and Conditions for
Custody Accounts and apply to any dealings in
shares of Architas Multi-Manager Investments
ICVC II, an open-ended investment company with
variable capital incorporated with limited liability
and registered in England and Wales under
registered number IC122 (“the Company”). To the
extent that there is any inconsistency between the
Terms and Conditions for Securities Trading
(“Sharedeal”), the Terms and Conditions for
Custody Accounts and these Terms and
Conditions, these Terms and Conditions shall
prevail.
1.2
2.
EXECUTION ONLY
2.1
When You use the Sharedeal service to
subscribe for or to redeem Shares in the
Fund(s) of the Company We will not advise
You on the merit of Your investment
decisions and We do not accept
responsibility for the consequences of Your
decisions or for the suitability of any
investment in Shares in the Fund(s) of the
Company made by You.
We make no representations and give no
warranties as to the performance of any
investment in the Shares in the Fund(s) of
the Company.
In this section, defined terms shall, unless
indicated otherwise, have the meaning assigned to
them in the Prospectus for the Company (The
Company Prospectus is available on request from
Private Banking & Wealth Management, , Donegall
Square West, Belfast, BT1 6JS).
“We” “Us” and “Our” means Northern Bank
Limited trading as Danske Bank.
1.
NOMINEE STRUCTURE
1.1
Any Shares in the Fund(s) of the Company
which You choose to purchase will be
registered in the name of a nominee
appointed by Us. All applications for
subscriptions and redemptions of shares in
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
the Company will be made by the nominee
appointed by Us.
The nominee appointed by Us will complete
the application, subscription and
redemption forms for the Shares in the
Fund(s) of the Company. Accordingly, You
will not acquire Shares in the Fund(s) of the
Company directly and all rights in relation
to Shares in the Fund(s) of the Company will
be exercisable by the nominee appointed by
Us.
2.2
3.
YOUR SUBSCRIPTIONS/REDEMPTIONS
3.1
When using the Sharedeal service You can
currently only deal in (i.e. subscribe, redeem
or switch between) Shares in the following
Funds of the Company:
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group

3.2
3.3
3.4
3.5
3.6
“A” Class Shares in Architas MA
Blended Intermediate Fund
 “A” Class Shares in Architas MA
Blended Reserve Fund
 “A” Class Shares in Architas MA
Blended Moderate Fund
 “A” Class Shares in Architas MA
Blended Progressive Fund.
You can subscribe for Shares in the Fund(s)
of the Company via Our branch network in
Northern Ireland or through Danske Bank’s
eBanking (This service may be temporarily
unavailable when we are carrying out
routine maintenance).
To instruct Us to acquire shares in the
Company, You must be a UK resident and
must have:
 a custody account with Danske Bank
and
 a current account with Danske Bank.
You will receive a contract note to confirm
the details of Your
subscription/redemption.
For subscriptions/redemptions via Our
branches in Northern Ireland You must
sign all subscription/ redemption orders for
Shares in the Funds of the Company
For subscriptions/redemptions via
eBanking, on each occasion, You must
electronically sign all
subscription/redemption orders for Shares
in the Company. (Please note this service
Page 16 of 17
3.7
may be temporarily unavailable when we
are carrying out routine maintenance).
Fractional Shares in the Fund(s) of the
Company of up to four decimal places will
be issued in respect of any part of
subscription monies insufficient to
purchase whole Shares in the Fund(s) of the
Company.
5.5
4.
RESTRICTIONS ON REDEMPTION
4.1
For full details of restrictions on
redemptions You should refer to the
Company Prospectus.
5.
SWITCHING SHARE CLASSES
5.1
Subject to the qualifications set out in the
Company Prospectus, You may switch all or
some of Your Shares in one Class of a Fund
to another Class of Shares in the same
Fund or You can switch some all of Your
Shares of one Class or Fund (“Original
Shares”) to shares of another Fund (“New
Shares”).
When using Sharedeal You can only switch
between the Funds and the Classes of
Shares in the Funds which are set out
above under the heading “Your
Subscriptions/ Redemptions.”
You must sign both a subscription and a
redemption form to take this action in Our
branch network Northern Ireland.
For these purposes, a conversion notice will
be treated, firstly, as a redemption request
in respect of the Original Shares, such
redemption to be processed in accordance
with the provisions applicable to
5.2
5.3
5.4
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
redemptions, and as an application form in
respect of New Shares, such application to
be processed in accordance with the
provisions applicable to subscriptions.
Accordingly, the switching transaction will
be processed within the timeframe
ordinarily applicable to a redemption
followed by a subscription.
Switching fees, if any, and further
information, are disclosed in the Company
Prospectus. Subsequently You will receive
two contract notes a subscription note and
a redemption note.
application has been withdrawn during the
period of suspension.
8.
PAYMENTS
8.1
All subscription/redemption payments will
be made by electronic transfer to/from
Your current account. Electronic transfers
from Your current account will require
cleared funds.
For subscriptions, We will debit Your
current account with the subscription
amount and add the Shares in the Fund(s) in
the Company to Your custody account on
the settlement day.
For redemptions, We will credit Your
current account with the redemption
amount and remove the Shares in the
Fund(s) in the Company from Your custody
account on the settlement day.
8.2
6.
CUT-OFF TIME FOR
SUBSCRIPTIONS/REDEMPTIONS
8.3
6.1
The dealing cut-off time is 3.00pm London
time on the Business Day preceding the
relevant Dealing Day (the “Dealing
Deadline”).
Subscription/redemption requests received
by Us after the dealing deadline will be
processed on the next Dealing Day. For
details of the settlement process you
should refer to the Company Prospectus.
9.
PRICIING OF THE SHARES
9.1
For full details of how Shares are priced you
should refer to the Company Prospectus.
10.
CONFIRMATION OF OWNERSHIP
6.2
7.
TEMPORARY SUSPENSION OF
DEALINGS
7.1
Applications for Shares in the Fund(s) of the
Company received during any period when
dealings have been temporarily suspended
in the circumstances described in the
“Suspension of Dealings in Shares” section
in the Company Prospectus will be treated
as received on the first Business Day after
dealings have recommenced, unless such
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
10.1 Contract notes will be issued to you by the
close of business on the business day
following the relevant Dealing Day. We will,
upon request, provide You with information
about the status of Your investment.
10.2 We will also forward a statement every six
months, which includes Your custody
account holdings.
Page 17 of 17
11.
11.1 All income and dividend payments will be
paid gross i.e. without the deduction of
income tax. Further information on the
taxation can found in the ‘Taxation’ section
of the Company Prospectus.
11.2 We will comply with, and You are deemed
to be bound by, any change in the law or
practice in relation to taxation of such
payments.
12.
value of the shares caused by market
movements that may have occurred during
the cancellation period.
TAXATION
13.
STATUTORY RIGHTS
13.1 Nothing in these Terms and Conditions will
reduce Your statutory rights relating to
faulty or misdescribed services. For further
information about your statutory rights
contact Your local Trading Standards
Department or Citizens Advice Bureau.
CANCELLATION
12.1 You have a right to cancel your application
for shares in the Company on or before the
14th calendar day from the date of the
conclusion of the contract to buy such
shares or from the day on which you
receive any contractual terms and any
other pre contractual information required
under the FCA Rules, if later than the date
of the contract.
12.2 The Cancellation notice must be served in
writing to Danske Bank, Private Banking &
Wealth Management, Donegall Square
West, Belfast, BT1 6JS.
12.3 If you cancel your application, Danske Bank
will treat this as an instruction to sell your
shares at the prevailing market price.
12.4 Danske Bank will return the proceeds to
you as soon as reasonably practicable, and
in any event no later than 30 calendar days
after the date on which you posted or
otherwise sent notice of cancellation to
Danske Bank.
12.5 Please note that the amount that you will
get back may be subject to changes in the
Danske Bank is a trading name of Northern Bank
Limited.
Danske Bank is a trading name of Northern Bank Limited which is
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
Registered in Northern Ireland (registered number R568)
Registered Office: Donegall Square West, Belfast, BT1 6JS.
Northern Bank Limited is a member of the Danske Bank Group
Northern Bank Limited is authorised by the
Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential
Regulation Authority (reference 122261). We
comply with the FCA’s requirements to pay due
regard to customers’ interests and to treat
customers fairly. Details of our registration can be
found at www.fca.org.uk/register or by contacting
the FCA on 01800 1116768 or 0300 500 8082.
Northern Bank Limited is a wholly owned subsidiary
of the Danske Bank A/S.
This publication is also
available in Braille, in large
print, on tape and on disk.
Speak to a member of staff for
details.