We confirm that the information provided in the Account Opening Form is complete and accurate. We will undertake to inform you of any material changes to that information. You are authorised to conduct credit enquiries on me/us to verify the information provided.
You will keep information relating to my/our Account confidential, but may provide any such information to the relevant regulatory authorities to comply with their requirements or requests for information.
All transactions in securities which you effect on my/our instructions (“Transaction”) shall be effected in accordance with all laws, rules and regulatory directions applying to you. This includes the rules of the Exchange and of the Clearing House. All actions taken by you in accordance with such laws, rules and directions shall be legally binding on me/us.
You will act as my/our agent in effecting Transaction unless you indicate in the statement or confirmation relevant to such Transaction that you are acting as principal.
We will notify you when a sale order relates to securities which We do not own i.e. involves short selling.
On all Transaction, We will pay your fee, commissions, charges and disbursements incurred by you, as notified to me/us, as well as applicable levies, trading fee and clearing fee imposed by the Exchange and the Clearing House, as the case may be, and all applicable stamp duties. You may deduct such commissions, charges, levies, trading fee and clearing fee and stamp duties from the Account.
Unless otherwise agreed, in respect of each Transaction, unless you are already holding cash or securities on my/our behalf to settle the Transaction, We will
- pay you cleared funds or deliver to you securities in deliverable form or
- otherwise ensure that you have received such funds or securities
by such time as you have notified me/us in relation to that Transaction. If We fail to do so, you may
- in the case of a purchase Transaction, sell the purchased securities and
- in the case of a sale Transaction, borrow and/or purchase securities in order to settle the Transaction.
We will be responsible to you for any losses and expenses resulting from my/our settlement failures.
We agree to pay interest on all overdue balance (including interest arising after a judgment debt is obtained against me/us) at such rates and on such other terms as you have notified me/us from time to time.
In the case of a purchase Transaction, if the selling broker fails to deliver on the settlement date and you have to purchase securities to settle the Transaction, We shall not be responsible to you for the costs of such purchase.