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Unless otherwise specified by you in Writing or through a Data Message stored on a platform used by Sasfin for the purpose of processing Corporate Actions, Sasfin is entitled to make an Election on securities forming.
You acknowledge that you shall not be entitled to deal in BEE Securities unless a valid BEE Contract has been signed by you or the proposed beneficial owner of the BEE Securities as the case may be and the other requirements contained in the JSE Rules have been complied with. The JSE Rules are designed to ensure and record that a proposed registered owner or proposed beneficial owner of BEE Securities qualifies as a BEE compliant person. Please advise Sasfin well in advance if you intend to deal in BEE Securities so that the necessary compliance arrangements can be achieved.
Sasfin shall provide you with a monthly statement of account. Such statements will show full details of:
Nothing herein contained shall, however, absolve us from liability for loss suffered by you or any authorised person where you can prove that such liability or loss was through any act of fraud, theft, bad faith, dishonesty or gross negligence on our part or on the part of our employees, provided that any such liability or loss shall be limited to the amount of fees and commissions charged to your account over the preceding twenty-four month period. Notwithstanding the aforegoing, we assume no liability whatsoever for any act of fraud, theft, bad faith, dishonesty or gross negligence on the part of any third party as mentioned above, or on the part of any such third party’s employees. Nor do we assume any liability in the event of the insolvency or subsequent sequestration or liquidation of such third party.
It is recorded that you will have been separately obliged to deliver to us certain information required under FICA, including information pertaining to your source of funds and income. You are reminded that it is your responsibility to notify us in Writing should there be any change to that information and you are aware that we may not transact on or give effect to any instruction on your behalf until such time as the relevant FICA documentation is in order. In addition, we reserve the right to call for such additional documentation as we may require and in particular for any FICA documentation to be updated periodically at our discretion. Should you fail, in good time, to provide Sasfin with such information and/or documentation as may be required in terms of FICA, Sasfin may in its sole discretion and subject to the Relevant Law, take steps to block your account until all outstanding information and/or documentation has been provided to our satisfaction.
This Mandate, and any dispute arising from or connected to it, is governed by the laws of the Republic of South Africa. The parties hereby consent to the jurisdiction of the Magistrate’s Court for the determination of any legal action instituted under this Mandate. Notwithstanding this, the parties shall not be prohibited from litigating in the High Court having jurisdiction should either party so elect.
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