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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 G : Multi-Currency Trust Account
35. Multi-Currency Trust Account
35.1 CIMB may from time to time, at the request of the Client, open and maintain a Multi-Currency Trust Account and deposit and retain all proceeds of sale of Securities, including but not limited to contra gains and proceeds due from any over-the-counter instruments.
35.2 The Client may from time to time make further deposits into the Multi-Currency Trust Account.
35.3 The Client agrees and authorises CIMB to use monies in the Multi-Currency Trust Account towards satisfaction of Liabilities owing to CIMB by the Client, including the following liabilities as and when they may fall due:
 
(a)  purchases of Securities, applications for rights issues, payment of exercise price for conversion of warrants,
       loan stocks or options, subscriptions for initial public offers, private placement, over-the-counter instruments;

(b)  any charges, brokerage, clearing fees, registration fees, conversion fees, transfer fees, custody/nominees fees,
       stamp duties, administrative fees, corporate action handling fees and any other disbursements due on any
       Account;

(c)  interest incurred on overdue purchases and/or trading losses;

(d)  any bank charges; and

(e)  any trading losses incurred by the Client
35.4 The Client further agrees and authorises CIMB to apply monies in the Multi-Currency Trust Account towards the recovery of erroneous payments (as evidenced by the records of CIMB) previously made to the Client
35.5 CIMB may, where the Liabilities and the monies in the Multi-Currency Trust Account are not in the same currency, upon the prior consent of the client, effect any necessary conversion from one currency to another at such rates of exchange as CIMB may determine at its absolute discretion on the basis of the then prevailing foreign exchange rates between such currencies.
35.6 The Client shall give CIMB two (2) Market Days’ prior notice with respect to any withdrawal from the Multi-Currency Trust Account.
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Part D :

Part E :

Part F :

Part G :

Part H :

Part I :

Part J :

Part K :

Part L :

 



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