GENERAL TERMS & CONDITIONS IN RELATION TO ONLINE MUTUAL FUND SERVICE

GENERAL

  1. China Construction Bank (Asia) Corporation Limited (the "Bank") is an Authorized Institution and a Registered Institution (CE number AAC155) under the Securities and Futures Ordinance (Cap.571) to carry on Type 1 (Dealing in Securities) and Type 4 (Advising on Securities) Regulated Activities. The Bank's web site provides certain electronic features designated for its customers (each of them is herein referred to as the "Customer") to provide instructions to the Bank with respect to the subscription, switching, transfer or redemption of Units in Funds and to check on the status of their holdings and to access information regarding Funds (the "Online Mutual Fund Service"). The Online Mutual Fund Service and the transactions conducted via such service are subject to the terms and conditions set out below (the "Online Mutual Fund Service Conditions") as well as the terms and conditions of the following agreements (collectively, the "General Conditions") which are hereby incorporated into the Online Mutual Fund Service Conditions and form an integral part hereof:

    Unless otherwise defined herein, the terms and expressions used and defined in the General Conditions shall have the same meaning when used herein.

  2. The Funds available under the Online Mutual Fund Service are not for subscription, switching, transfer or redemption:
    1. by any Customer who is a citizen or resident of, or a partnership or corporation organised or incorporated under the laws of, the United States of America;
    2. by, in relation to any relevant Fund, any Customer who is not eligible and qualified to subscribe for that Fund as prescribed in its trust deed or prospectus particularly in respect of his citizenship, nationality or place of residence;
    3. by any Customer who subscribes for, switches, transfers or redeems the relevant Fund on behalf of any of the persons named in sub-paragraphs (a) and (b) above

      and/or

    4. where such relevant Funds are not authorized by Securities and Futures Commissions under the Securities and Futures Ordinance (Cap. 571)
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  1. Further, the Online Mutual Fund Service will not be available in the case of joint accounts requiring the authority of two or more account holders to operate.

INSTRUCTIONS AND TRANSACTIONS CONFIRMATION

  1. The advertisement of Funds on the Bank's web site does not amount to an offer by the Bank to sell those Funds. Any instruction and/or order made by the Customer with respect to the subscription, switching, transfer or redemption of Units in the Funds is subject to acceptance by the Bank as well as the relevant Fund Representative. Once an instruction or order has been made and confirmed by the Customer to the Bank, no amendment or cancellation will be allowed. An instruction or order will be deemed to be accepted, without further notification, by the Bank upon the Bank debiting the relevant account of the Customer with the Bank to effect the subscription, switching, transfer or redemption with the Fund Representative. For avoidance of doubt, the acceptance by the Bank of an instruction or order of the Customer does not constitute any representation, nor does this constitute a responsibility for ensuring, that such instruction or order will be accepted by the Fund. The Bank will notify the Customer if the instruction or order is not accepted by the Bank or the Fund Representative. After the Bank has effected the Customer's instructions to subscribe, switch, transfer or redeem Units with any Fund Representative, the Bank shall issue a contract note to the Customer confirming the essential features of the transaction with such Fund Representative.
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  1. In order to give instructions to the Bank via the Online Mutual Fund Service, the Customer must quote the Customer ID and Password.
  2. The Customer shall not transmit any request, instruction and/or order to the Bank using electronic communications except through those electronic features designated by the Bank in its web site for the express purpose of placing requests, instructions and/or orders. The Bank will not act upon request, instructions or orders transmitted through electronic communications other than those transmitted through the designated features on the Bank's web site under the Online Mutual Fund Service.
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  1. The Customer is deemed to be bound by any affirmance, confirmation, assent or agreement that is electronically transmitted to the Bank using the said designated features as well as the terms of dealing set out from time to time in such designated features.
  2. Before subscribing, transferring or switching into any Fund, the Customer shall have read the pertaining prospectus or summary prospectus and/or the latest financial report(s) in the language in which the Customer is conversant. If any of such documents is not available by way of an electronic copy in the Bank's web site, the Customer can obtain printed copy of such document(s) by contacting the Branches or via Bank By Phone. The addresses and contact details of the Branches are set out in the ATM/Banking Locator on the homepage of the Bank's web site.
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  1. The Bank will set out in its web site the cut-off time of each day that the Bank designates from time to time for processing the instruction or order of the Customer received during the day. Subject to the terms set out herein, all instructions or orders accepted by the Bank will be effected with the Fund Representative depending upon the terms of agreement between the relevant Fund Representative and the Bank.

RISKS AND WARNINGS

  1. Warning regarding Information supplied by Third Party Providers
    1. The Online Mutual Fund Service makes available in the Bank's web site information relating to the price and performance of Funds (collectively, the "Information") which is provided by the information provider(s) selected by the Bank from time to time (each and all of them are herein referred to as the "Information Provider") as a service and convenience. The Bank reserves the right to at any time without prior notice put on hold the provision of any part of the Information or change the manner/format of display or the provider(s) of any part of the Information and shall have no liability whatsoever to the Customer for so doing. Any Information about Funds provided by the Information Provider has not been investigated, verified, monitored or endorsed by the Bank and the Bank makes no warranty as to its accuracy, timeliness, completeness or correct sequencing and expressly disclaims any liability in relation thereto and any decision made or action taken by the Customer upon such information. The Customer acknowledges that none of such information available via the Online Mutual Fund Service constitutes a recommendation or solicitation that the Customer should subscribe, switch, transfer or redeem any particular Units in the Funds.
    2. The Customer shall not :
      1. disseminate the Information or any part thereof to any other person;
      2. use or permit the use of the Information or any part thereof for any illegal purpose;
      3. use the Information or any part thereof other than for his own personal use.
    3. The Customer shall comply with such directions as the Bank may reasonably require from time to time concerning the permitted use of the Information.
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  1. Risks in effecting trading transactions using the Online Mutual Fund Service
    1. Requests, instructions or orders entered by way of internet are subject to (and may suffer delay in processing and/or transmitting as a result of) interruption, transmission blackout, delayed transmission due to internet traffic or incorrect data transmission, market volume or volatility, system failure or upgrades or maintenance or for other reasons.
    2. The Online Mutual Fund Service may suffer delays and periods of malfunction or outage. During such periods, the Customer may contact the Bank by alternative methods such as by visiting the Branches or contacting the Bank via Bank By Phone.
    3. In addition, the Bank may at any time without prior notice at its discretion (which discretion shall be reasonably exercised) put on hold the Online Mutual Fund Service or the provision of any part thereof or terminate the Customer's access to the Online Mutual Fund Service or any part thereof or decline to allow the Customer to place orders for any particular Fund and the Bank shall have no liability whatsoever to the Customer for so doing.
  2. Security for Online Service - The Bank will use its reasonable endeavours to ensure that its systems and the data and communications transmitted between the Customer and the Bank via the internet, telephone or any other electronic means are protected against unauthorised access, taking into account any law, rules, regulations, guidelines, circulars, codes of conduct and prevailing market practices which may be applicable to the Bank from time to time.
    The Customer shall in turn follow such security measures/steps as are reasonable to avoid unauthorised transactions and shall adopt such security protocol as the Bank may recommend from time to time. In particular :
    1. the Customer should take reasonable steps to keep any device such as Customer ID and Password used for accessing the Online Mutual Fund Service secure and secret and should (without limiting the generality of the foregoing) :
      1. change the Password provided by the Bank to a self-selected Password in accordance with the Bank's instruction immediately upon receipt of the initial Password advice from the Bank;
      2. memorise his Customer ID and Password and destroy the notice to him of his Customer ID and Password;
      3. not disclose his Customer ID or Password to anyone;
      4. not knowingly allow the use by others of his Customer ID and/or Password;
      5. not write down or record his Customer ID or Password without disguising it; and
      6. change his Password on a regular basis.
    2. the Customer should avoid selecting his Password incorporating such information as birthday, telephone number or recognisable part of his name and should also avoid using the same user identification and secret code for accessing other services (for example, for connection to the internet or accessing other websites);
    3. if the Customer is accessing the Online Mutual Fund Service via a computer terminal, he should :
      1. sign off and close his browser after use;
      2. if anyone is likely to use his computer after use, clear his cache or turn off and re-initiate his browser to eliminate copies of webpages that have been stored in his hard disk;
      3. not walk away from his computer with his account information on the screen.
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  1. The Customer's liabilities for unauthorised transactions
    1. The Customer should inform the Bank via Bank By Phone as soon as reasonably practicable after he finds or believes that his Customer ID and/or Password or other secret codes or devices, if any, for accessing the Online Mutual Fund Service have been compromised, lost or stolen, or that unauthorised transactions have been conducted over his accounts.
    2. Subject to sub-paragraph (c) below, the Customer shall be responsible for all transactions involving the use of his Customer ID and/or Password prior to the Bank receiving such notice and the Bank having a reasonable opportunity to take action in respect of such notice. All instructions or orders given to the Bank by anyone using his Customer ID and/or Password prior to the Bank receiving notice as mentioned in sub-paragraph (a) above and the Bank having a reasonable opportunity to take action in respect of such notice will be relied on or acted upon by the Bank and shall be irrevocable and binding on the Customer. The Bank shall have no duty to verify the identity or authority of the person giving an instruction or order to the Bank if the correct Customer ID and/or Password is used. The Customer's Customer ID or Password shall remain effective until changed by him or cancelled by the Bank.
    3. The Customer shall be responsible for all losses that he suffered as a result of any unauthorised transactions conducted through his account if he has acted (i) fraudulently or (ii) with gross negligence (such as, without limiting the generality of the foregoing, failing to properly safeguard his Customer ID or Password or such other device(s) or secret code(s) for accessing the Online Mutual Fund Service or otherwise failing to observe the precautions mentioned in sub-paragraphs 12(a), (b) and (c) above).
  2. Limitation of the Bank's Liabilities
    1. Neither the Bank nor any of its officers, employees or agents shall be liable for any loss or damage suffered by the Customer as a result of or arising from (I) his failure to comply with the Online Mutual Fund Service Conditions or the General Conditions; (II) his fraud or gross negligence in his dealings with the Bank or usage of the Online Mutual Fund Service or other online banking services provided by the Bank; (III) the Bank acting on any unauthorized order or instruction as a result of the fraud or gross negligence of the Customer; (IV) the misunderstanding or misinterpretation of any order or instruction given by the Customer or on his behalf (provided that the Bank acts in good faith and without negligence); or, without prejudice to paragraphs 10(a) and 11(c) above, (V) his inability to gain access to or utilize the Online Mutual Fund Service or other online banking services in full or in part or any failure of the Bank to perform or process any obligation or service or instruction or take any action where such inability or failure is attributable directly or indirectly or partially or solely to any circumstances or event beyond the reasonable control of the Bank, including any equipment or computer malfunction, power, network or telecommunication failure or inadequacy, interruption, interception, error, delay or loss in transmission or transfer facilities, or the act or omission of any third party.
    2. If the Bank is found liable for any act or omission, negligence or default, its liability shall be limited to the lesser of the amount of the direct loss or damage and the amount of the relevant transaction. The Bank shall not be responsible for any loss of profit or any special, consequential or indirect loss or damage arising out of such act, omission, negligence or default.
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  1. The Customer's indemnity in favour of the Bank- The Customer shall hold harmless and indemnify the Bank, its officers, employees, agents and any other persons appointed by the Bank against all liabilities, claims, costs, damages and expenses of any kind (including reasonable legal fees and allocated costs of in-house counsel) reasonably and properly incurred by any of them and all actions and proceedings which may be brought by or against them as a result of (I) the Customer's failure to comply with the Online Mutual Fund Service Conditions or the General Conditions; or (II) his fraud or gross negligence in his dealings with the Bank or usage of the Online Mutual Fund Service or other online banking services provided by the Bank.

MISCELLANEOUS

  1. No act or omission by the Bank pursuant to the Online Mutual Fund Service Conditions shall affect its rights, powers or remedies. The rights, powers and remedies of the Bank under the Online Mutual Fund Service Conditions are cumulative and not exclusive of the rights and remedies provided by law.
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  1. No assignment of any rights or obligations of the Customer under the Online Mutual Fund Service Conditions shall be effective without the prior written consent of the Bank.
  2. If at any time any of the provisions of the Online Mutual Fund Service Conditions is or becomes illegal, invalid or unenforceable in any respect, the legality, validity or enforceability of the remaining terms and conditions shall not be affected.
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  1. The English version of the Online Mutual Fund Service Conditions which are issued by the Bank is the governing version and shall prevail whenever there is any discrepancy between the English version and the Chinese version.
  2. Unless the context otherwise requires, words importing the singular include the plural and vice versa and words importing a gender include every gender and "person" includes an individual, firm, company, corporation and an unincorporated body of persons. Whenever the "including" is used, it is deemed to be followed by the words "without limitation".
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  1. The Online Mutual Fund Service Conditions issued by the Bank are governed by and shall be construed in accordance with the laws of Hong Kong. The Customer submits to the non-exclusive jurisdiction of the Hong Kong courts but such Online Mutual Fund Service Conditions may be enforced in the courts of any competent jurisdiction.
  2. The Bank may, by prior notice, vary, amend or supplement the above terms and conditions and such variation, amendment or supplement shall take effect on the date specified in the notice. Such notice may be given by way of an announcement on the Bank's web site and shall be deemed duly given or made and effective and binding on the Customer upon the Bank putting the notice or announcement on the web site whether the Customer has retrieved or read the notice or announcement. Without prejudice to the aforesaid, the Bank may also give such notice to the Customer by personal delivery, posting, fax or other means of communication in accordance with the terms of the General Conditions. The provision of the Online Mutual Fund Services shall at all times be subject to the Online Mutual Fund Service Conditions currently in force for the time being irrespective of the Customer's actual receipt of the said notice or knowledge thereof.
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