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General Terms and Conditions

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

Part E : Securitised Trading Account and Memorandum of Deposit (Applicable to securitised Trading Account only)
32. Securitised Trading Account
32.1 The Client confirms, acknowledges, authorises and agrees with CIMB as follows:
 
(a) Collateral must be deposited with CIMB and shall be of a type and amount acceptable to CIMB. The trading limit
      shall depend on the amount of the Collateral deposited provided always that CIMB may impose a maximum
      limit for trading;
 
(b) CIMB may cap or discount the value of Securities provided as Collateral for the purpose of determining the
      trading limit;
 
(c) shall provide and deposit (at the Client’s cost and expense) additional Collateral immediately upon CIMB’s
      request, together with all required documents (e.g. duly completed and valid transfer forms, etc.);
 
(d) CIMB may suspend, withdraw or terminate the securitised Trading Account and release such suspension at
      any time at CIMB’s sole and absolute discretion; and
 
(e) where any amount outstanding or owing is not settled promptly (whether demanded or not), Collateral shall be
      utilised to settle the amount outstanding or owing. Utilisation/realisation of Collateral shall be in the priority as
      determined by CIMB, and Collateral will be realised to the extent of the amount deemed required by CIMB.
33. Memorandum of Deposit (Applicable to securitised Trading Account only)
33.1 In consideration of CIMB granting and/or continuing to grant or make available to the Client facilities for the trading in Securities on Bursa Securities and/or any other recognised stock exchange or otherwise, the Client hereby agrees to pledge, mortgage, charge to CIMB or in CIMB’s favour all the Securities held from time to time in the Client’s Account which have been fully paid for, in the Client’s CDS Account, and/or any nominee/custody account of which the Client is the beneficiary (hereinafter referred to as the “said Securities”); subject the terms and conditions hereof:
 
(a) the Client confirms that the Client is the legal and beneficial owner of the said Securities and that the Client is
      entitled to pledge, mortgage and charge the said Securities to CIMB;
 
(b) the said Securities will be a continuing security to CIMB for the general balance of the Client’s debts due or
      Liabilities to CIMB, which shall include but not limited to any monies due under the Client’s Trading Account;
 
(c) in the event that any debt remains outstanding in the securitised Trading Account for more than ten (10) days
     and where written notice of such debt had been given, CIMB may at its sole discretion and at any time thereafter,
     without giving the Client any further notice, sell such of the said Securities to settle such debts and any excess
     amount will be credited to the Client’s Account, in such event the Client shall have no recourse against CIMB or
     its nominees in respect of any loss that the Client may suffer arisingout of or in relation to or connected with
     such sale;
 
 (d) the Securities may be registered by CIMB in its name or in the name of its nominees, held in scripless form in
      CDS Accounts opened in the Client’s name, CIMB’s name or in CIMB’s Nominees’ Pledged Account
      designated solely for the Client as the beneficiary. In consideration, the Client shall also indemnify and keep     
      CIMB or its nominees indemnified against all claims, demands, liabilities, costs and expenses for which CIMB
      or CIMB’s nominees may be liable, and against all actions, suits, proceedings, claims or demands of any
      nature whatsoever which may be taken or made against CIMB or its nominees or which may be incurred or
      which may arise directly or indirectly by reason of the registration of the said Securities in the name of CIMB
      and/or the appointment of CIMB’s nominees as the Client’s nominee or by act or omission in relation thereto;
 
 (e) notwithstanding the aforesaid, neither CIMB nor its nominees shall be answerable or responsible for the loss
       of or damage to or diminution in value of any of the said Securities, however arising, while the same are in the
       custody, possession or control of CIMB or its nominees. Further, while the said Securities are in the custody,
       possession or control of CIMB or its nominees, CIMB or its nominees shall use all reasonable efforts to ensure
       that any rights issue, bonus or dividends (hereinafter called “corporate actions”) declared in respect of the said
       Securities, are subscribed with the Client’s instruction/advice, received or collected by CIMB or its nominees
       under advice to the Client. All costs, charges and/or expenses incurred in the course of these corporate actions
       on the said Securities shall be debited to the Client’s Trading Account;
 
(f) the Client shall, immediately upon CIMB’s request and at his own cost and expense, deliver to CIMB duly
    executed forms or other valid documents of transfer in respect of any or all of said Securities and/or deposit
    further Securities as may be required by CIMB;
 
(g) the Client hereby acknowledges that CIMB will not be liable for any loss or damage incurred or suffered in
      relation to the said Securities deposited and in relation to the documents evidencing title or ownership of such
      securities (where applicable) under any Account unless such loss or damage is due to CIMB’s
      grossnegligence or wilful default. In respect of such loss or damage due to gross negligence or wilful default,
      CIMB will only be liable for the incidental replacement costs which are confined to the cost of advertisement,
      scrip fees or any other reasonable costs related to the replacement of the physical share certificates only, where
      appropriate, and does not include or oblige CIMB to buy back the securities for the Client on the Bursa
      Securities or any other stock exchanges.  The replacement documents evidencing title or ownership of the said
      Securities shall be returned to the Client upon CIMB receiving of the same from the share registrar;
 
(h) the Client hereby authorises CIMB, in the event of the sale of the said Securities, to deliver the same to the
      purchaser or the legal representative and to credit the proceeds of sales to the Client’s Account with CIMB to 
      settle any outstanding debts due to CIMB;
 
(i) the said Securities and any cash deposited by the Client with CIMB shall at all times remain the Client’s assets
    and property and shall not under any circumstances whatsoever cease to be the Client’s assets and property
    including without limitation the liquidation, receivership, judicial management, winding up of CIMB or any other
    proceedings related to the insolvency of CIMB; and
 
(j) every notice, demand, certificate or other communication given or made by CIMB to the Client shall be deemed to
     be given and received if sent to the Client at the address or facsimile number provided by the Client or such
     other address or facsimile number as may from time to time be notified to CIMB by the Client in writing and CIMB
     shall not be responsible for the consequence of any notice, demand, certificate or other communication not
     being received by the Client.
Page 5 of 13 pages    BACK |  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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