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Home » General Terms and Condition » General Terms and Conditions
General Terms and Conditions

(Revised clause 14.4 - Date of notification 01 April 2015)

Part A : Definitions
1. Definitions
1.1 1.  Definitions
 
1.1  Unless the context otherwise requires, the following words or expressions in these terms and conditions shall have the following meanings:
 
Account” means such account, including any sub-account, as may be necessary and expedient for the performance of Transactional Services including but not limited to the Multi-Currency Trust Account which the Client may have with CIMB or any of its Affiliates;
 
Accrued Rights” shall have the meaning ascribed to it in Clause 30.1;
 
Affiliates” includes a related corporation (as defined in the Companies Act 1965) of CIMB or a corporation that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, CIMB;
 
Authorised Person” means a person authorised in writing by the Client to provide instructions to CIMB in relation to Transactions on behalf of the Client, and whose instructions will be accepted by CIMB and which instructions are binding on the Client;
 
Base Currency” means Ringgit Malaysia;
 
BNM” means Bank Negara Malaysia, the central bank of Malaysia;
 
Bursa Clearing” means Bursa Malaysia Securities Clearing Sdn Bhd and includes its successors in title;
 
Bursa Depository” means Bursa Malaysia Depository Sdn Bhd and includes its successors in title;
 
Bursa Securities” means Bursa Malaysia Securities Berhad and includes its successors in title;
 
CDS Account” means a central depository system securities account established by Bursa Depository for a depositor pursuant to the Securities Industry (Central Depositories) Act 1991 and in accordance with the Rules of the Bursa Depository;
 
Client’s Monies” shall have the meaning ascribed to it in Clause 4.2;
 
CMSA” means the Capital Markets and Services Act 2007 including all rules made thereunder, any amendments, modifications and re-enactments thereof in force as may be made at any time and from time to time;
 
Collateral” means the (a) deposit of cash, monies and/or all other property of the Client held by CIMB or its Affiliates or in the custody or control of CIMB or its Affiliates from time to time; (b) Securities listed on a securities exchange; and (c) such other Securities or instruments or asset, in whatever form, as CIMB may from time to time prescribe, together with all attendant rights and interests under any contract (where applicable) for the sale, purchase, custody or management of such asset and to the income, dividends, interests thereon, whether now or hereafter held by CIMB or in transit to CIMB or to CIMB’s nominee;
 
Conflict of Interest” shall include, without limitation, the following situations: (a) CIMB or its Affiliates undertaking Proprietary Activities resulting in CIMB or its Affiliates taking positions identical, similar or related to that transacted by CIMB or its Affiliates with or for the Client; (b) CIMB or its Affiliates, as principals, being a party to transactions with the Client; (c) CIMB or its Affiliates undertaking Proprietary Activities, including without limitation hedging transactions, which are related to transactions undertaken by CIMB or its Affiliates with or for the Client that may adversely affect the market price, rate, index, value or other market factors in relation to the transactions entered into by CIMB or its Affiliates with or for the Client; or (d) CIMB or its Affiliates having commercial relationships with and access to information from the issuers of the Securities, or provider of Investment Products and/or Services transacted by the Client with or through CIMB or its Affiliates;
 
Designated Bank Account” means such bank account maintained by Client with the Licensed Financial Institution and designated by the Client to CIMB as the bank account for effecting the payment of sales proceeds via Electronic Payment;
 
Electronic Communication” means any electronic or interactive product or service offered by CIMB, which allows the Client to communicate with CIMB or its Affiliates or with any third party service provider. Such electronic services include but are not limited to services which allow electronic data communications to be transmitted between parties through the use of personal, home or business computers and the like, connected by a modem or other device to the internet or a telecommunications network;
 
Electronic Payment” means the payment by or to the Client for the Transactions or other sums due and owing by or to the Client effected through telegraphic transfer, direct debit or any other electronic means offered by a Licensed Financial Institution;
 
Electronic Payment for Shares Service” means the service involving trading of securities whereby payments are facilitated via Electronic Payment or payments by CIMB to the Client via electronic payment;
 
Event of Default” means (a) where the Client is an individual, immediately upon the death or the bankruptcy of the Client or upon the Client petitioning for a voluntary arrangement under the Bankruptcy Act 1967 (or any revision or supplemental act thereto) or upon the Client becoming of unsound mind; or (b) where the Client is a corporation, immediately upon the Client convening a meeting of its creditors or the making of a proposal for a voluntary arrangement or the making of a proposal for any other composition, scheme of arrangement with (or assignments for the benefit of) its creditors or upon the Client being unable to pay its debts within the meaning of the Companies Act 1965 or upon the appointment of a trustee, receiver, judicial manager or similar officer in respect of all or any part of the business or assets of the Client or upon the presentation of a petition or the convening of a meeting for the purposes of considering a resolution or other steps being taken for the winding-up of the Client or for the making of an administration order or upon a material adverse change in the Client’s financial position which in CIMB’s opinion, may affect the Client’s ability to perform his obligations under these terms and conditions or any Transaction; or (c) any representations or warranties made by the Client being or becoming incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated; or (d) the Client admitting to CIMB its inability to, or its intention not to, perform any of its obligations hereunder and/or in respect of any loan, debenture, mortgage or agreement; or (e) any of the assets of the Client being transferred or ordered to be transferred to a trustee by a regulatory authority pursuant to any securities regulating legislation or seized, nationalized, expropriated or compulsorily acquired by any government or agency; or (f) the Client failing to perform any other of its obligations hereunder and not remedying such failure within such time period as may be specified by CIMB at its absolute and unfettered discretion whether in writing or otherwise, and where such failure arises in relation to any outstanding obligation , an Event of Default shall be deemed to have occurred if such default is not remedied within fourteen (14) days or (g) the Client is being reported as delinquent by a member company of Bursa Securities;
 
Exchange” means, in the case of Malaysian Securities, any securities exchange owned, operated and/or maintained by Bursa Securities, and in the case of Foreign Securities, the relevant securities exchange on which the Transactions are effected;
 
Foreign Agents” shall have the meaning ascribed to it in Clause 36.1(a);
 
Foreign Rules” means all relevant rules, bye-laws, customs, practices, notices, directives and regulations for the time being of any foreign stock exchange or any governmental or regulatory authorities of any foreign country, whether having the force of law or not, and all applicable laws in such foreign country which CIMB and/or the Client may be bound or which applies to any of the Transactions and Transactional Services;
 
Foreign Securities” means Securities that are listed on a securities exchange outside of Malaysia and are not traded on Bursa Securities;
 
Foreign Transactions” shall have the meaning ascribed to it in Clause 36.1;
 
General Information” shall have the meaning ascribed to it in Clause 13.2;
 
Investment Products and/or Services” means any capital market products, any other products as may be prescribed by the Securities Commission, Bursa Securities and/or other governmental or regulatory authorities from time to time and any other products and services which CIMB may provide to the Client from time to time;
 
Liabilities” means the present, future, actual or contingent liabilities owed by the Client to CIMB in respect of the Transactional Services and the Transactions;
 
Licensed Financial Institution” means a financial institution licensed by Bank Negara Malaysia under the Financial Services Act 2013 and Islamic Financial Services Act 2013;
 
Malaysian Rules” means all relevant rules, bye-laws, customs, practices, notices, directives and regulations for the time being of the Securities Commission, Bursa Securities, Bursa Clearing, Bursa Depository, Bank Negara Malaysia and all other governmental or regulatory authorities, whether having the force of law or not, and all applicable laws in Malaysia including but not limited to the Securities Laws and all rules, regulations, notices promulgated under thereunder. References to any rules, practices, notices, directives and regulations and/or applicable law shall be deemed to include references to such rules, practices, notices, directives and regulations or applicable law as re-enacted, amended or extended and any subordinate legislation (as the case may be) enacted from time to time under it;
 
Market Day” means a day on which CIMB is open for business or a day on which the relevant Exchange on which the Transactions are carried out is open for trading;
 
Multi-Currency Trust Account” means the Trust Account maintained by CIMB in accordance with Part G of these terms and conditions;
 
Online Services” means the internet based electronic facility(ies) that CIMB makes, will make or has made available from time to time to the Client that will enable the Client to effect the Transactions and/or obtain market information and data, news, quotations, research information and analysis, alerts and any other information or publication whether in respect of the Transactions or otherwise;
 
Proprietary Activities” shall mean dealings in Securities undertaken by CIMB for its own benefit;
 
Rules of the Bursa Depository” means any rules, regulations, guidelines or policies issued by the central depository from time to time and includes without limitation the rules of the Bursa Depository and all procedure manuals (as defined in the Rules of the Bursa Depository) for the time being of Bursa Depository;
 
Sales Proceeds” means the proceeds arising from the Transactions;
 
Secured Indebtedness” shall have the meaning ascribed to it in Clause 6.1;
 
Securities” means (a) debentures, stocks or bonds issued or proposed to be issued by any government; (b) shares in or debentures of, a body corporate or an unincorporated body; (c) unit trusts or prescribed investments, and includes any right, option or interest in respect thereof, but does not include futures contracts; and/or (d) such securities as stipulated from time to time under the CMSA;
 
Securities Account“ means an account established by a depositor with Bursa Depository, or any centralised depository or clearing agency, as may be necessary for the recording of deposit of Securities and for dealing in Securities by the depositor;
 
"Securities Laws" means the Capital Markets and Services Act 2007, the Securities Commission Act 1993, the Securities Industry (Central Depositories) Act 1991 and the Rules of the Bursa Depository including all rules made thereunder, any amendments, modifications and re-enactments thereof in force as may be made at any time and from time to time;
 
Security Information” shall have the meaning ascribed to it in Clause 45.1;
 
These terms and conditions” means these terms and conditions which govern the provision of the services as set out herein and as supplemented, modified or amended from time to time;
 
Traded Currency” shall have the meaning ascribed to it in Clause 17.2;
 
Trading Account” means the Account designated by CIMB through which the Transactions are to be effected;
 
Trading Representative” means a holder of a capital markets services representative’s license and shall also include an Authorised Officer of CIMB Bank Berhad who is authorized to carry on regulated activities pursuant to Section 76(6)(c)(ii) of the Capital Markets and Services Act 2007;
 
Transactional Services” means any services provided to the Client by CIMB under these terms and conditions (and/or such other terms and conditions as CIMB may from time to time prescribe);
 
Transactions” means Client’s transaction of Securities;
 
Trust Account” means the trust account maintained by CIMB in accordance with CMSA and includes the Multi-Currency Trust Account; and
 
Website” means the website owned, operated, maintained and/or designated by CIMB and accessible at the internet uniform resource locator (URL) designated by CIMB from time to time that will enable the Client to gain access to the Online Services.
1.2 Words importing only the singular number include the plural number and vice versa. Words importing the masculine gender include the feminine and neuter genders and vice versa. References to clauses are references to clauses of these terms and conditions. Headings in these terms and conditions are inserted for ease of reference and shall not affect the interpretation thereof.References to any statute, legislation, law, rules, regulations, guidelines, practices, notices or directives include any modification, re-enactment or amendments, practice notes and new guidelines issued pursuant theretoand any subordinate legislation (as the case may be) enacted from time to time under it.
Page 1 of 13 pages    CONTINUE..
Part A :

Part B :

Part C :

Part D :

Part E :

Part F :

Part G :

Part H :

Part I :

Part J :

Part K :

Part L :

 



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