| Agreement |
GENERAL TERMS AND CONDITIONS GOVERNING MEMBERSHIP ACCOUNTS
1. All forms, documents and identification requirements MUST be completed and received by GENERAL EQUITY (BUILDING SOCEITY) LTD. herein know as “GEBS” before the opening of any Membership Account requested. Notwithstanding the provision of all documents / information requested, GEBS reserves the right to refuse a Membership Account. GEBS is not obliged to provide any reason for its refusal to open a Membership Account.
2. GEBS reserves the right to specify, change or alter the minimum amount of deposit required for a Membership Account. GEBS has the right to introduce new fees and charges or amend existing fees and charges at any time with notice to its Membership Account Holder. GEBS has the right to close and /or deduct fees and charges from a Membership Account should the balance fall below the specified minimum balance requirement. GEBS has the absolute discretion to close a Membership Account without giving reason for closure.
3. It is understood and agreed by all parties that GEBS shall do its best endeavours to obtain the banking services and facilities that the member requires, however GEBS provides no guarantee in any way that the applicant’s facility will be successfully obtained. At no time should the member construe anything said or written as an indication that his/her application will be successful.
4. All GEBS’s documentation regarding Membership Accounts, products and or services must be signed by Membership Account Holder in accordance with the following signing instructions: POWER OF ATTORNEY: You must give us a notarised copy for our records. If the application is signed under a Power of Attorney, the Attorney must declare that he/she has not received notice of revocation of the Power of Attorney. JOINT PARTNERSHIP: All applications or their Attorneys must sign. These investments are held as joint tenants.
CORPORATE ENTITIES: Applications are to be signed in accordance with the relevant Articles of Association or Constitution and or/ Board of Directors Resolution TRUSTS: Applications must be signed by the trustees in accordance with the Trust Deed.
5. If facsimile instruction is to be used for the operations of a Membership Account, GEBS prior to any operation via facsimile. The original hard copy instruction transmitted by facsimile must be sent to GEBS immediately after being transmitted. For Multiple Membership Account Holder, a Facsimile Indemnity Form must be signed for each Membership Account.
6. GEBS will provide Statements of Membership Account only on the written request of the client which will be sent to the last known address provided to GEBS.
7. GEBS must be notified in writing of any change of address as soon as practicable. All communication sent via post shall be delivered to the last known address provided to GEBS and shall be deemed to have been duly delivered.
8. Except in the assignment, transfer, charge or pledge of a Membership Account and its balance in favour of GEBS or its subsidiaries or its related companies as security, the Membership Account and its balance cannot be assigned, transferred, charged or pledged whether by endorsement of the Deposit Confirmation or otherwise.
9. All payments to GEBS are to cover Membership fees and services being provided. GEBS shall have the right to deduct its fees and service charges without notice as and when they fall due.
10. GEBS may from time to time after the opening of a Membership Account require the Membership Account holder to provide information and / or supporting documentation relating to the operations of the Membership Account, beneficiary of fund transfers, sources of funds placement or any other information or supporting documents that GEBS may require to obtain in order for GEBS to perform its duty, obligation and due diligence under the laws of New Zealand.
11. Should the Membership Account holder fail to supply such information and or supporting documentation as requested by GEBS from time to time, GEBS at its sole discretion reserves the right to close the Membership Account without need to provide notice or reason for doing so.
12. The Membership Account holder acknowledges and agrees that GEBS may at its sole discretion and without being liable to the Membership Account holder, close or suspend the operation of the Membership Account if the conduct of the Membership Account is unsatisfactory in the opinion of GEBS or remain dormant for 12 months or more. GEBS is not obligated to provide any justification for its actions.
13. The operation of the Membership Account shall be subject to any legislation governing the operations of GEBS as agreed in full by all parties to this membership agreement.
14. GEBS may collect, use and disclose to the relevant Authorities information about you and your company, trust, partnership, individual or joint Membership Accounts so that GEBS can carry out its obligations under the Laws and for other related purposes, including monitoring and analysis of its business, crime preventions, legal and regulatory compliance.
15. GEBS shall not be responsible or liable for any diminution in the value of the currency of the deposit due to taxes, imposts or depreciation, or for the unavailability of any currency due to restrictions on convertibility, requisition, involuntary transfer, exercise of military or usurped of power, or any other causes whatsoever which are beyond GEBS’s control. Licensed Registrar of Building Societies No: BLDSOC 2008105
16. The Membership Account holder accepts the risk of foreign acts of state in respect of the unavailability of the repayment of the deposit if such repayment is rendered illegal or deferred by any act or order of the Government of the currency involved or of the country where such deposit is alternatively placed and GEBS shall incur no liability by reason of any change in the applicable law, government regulation or order, of the country, or in the country where such deposit is placed.
17. GEBS reserves the right to add, alter, vary or modify any or all of the above rules from time to time as it may in its discretion deemed necessary without giving prior notice thereof.
18. These rules are governed by and shall be construed in accordance with New Zealand Laws and you hereby submit to the non-exclusive jurisdiction of the New Zealand Court.
|
