ENTITIES, TRUSTS AND PARTNERSHIPS
CLIENT SERVICES AGREEMENT
KVB KUNLUN Pty Ltd
April 2018
CONTENTS
SECTION 1: CLIENT INFORMATION STATEMENT
–
ENTITIES, TRUSTS and
PARTNERSHIPS
1
Part 1. Applicant Details 2
Part 2: Authorised Persons 16
Part 3: FATCA Information 17
Part 4: Account Type 22
Part 5: Client Information 23
Part 6: Agreement and Signatures 25
Part 7: Checklist 29
INTRODUCTION
This Client Services Agreement sets out the terms and conditions upon which the Client will deal in Margin Foreign Exchange
and Contracts for Difference with KVB Kunlun Pty Ltd ACN 101 4 AF“L KVB”).
This Client Services Agreement is not binding until it is accepted by KVB. Acceptance and commencement of this Client Services Agreement occurs when KVB provides the Client with access to the online trading platform for dealing in Margin Foreign Exchange and Contracts for Difference in accordance with this Client Services Agreement.
KVB Kunlun Pty Ltd holds Australian Financial Services License (AFSL) 226602 which authorises KVB to offer these services.
The application forms, contained in pages 2-15 refer to Section 2 of this Client Services Agreement. Section 2, which commences on page 30, contains the Terms and Conditions relevant to this Agreement. The Terms and Conditions contain general Terms and Conditions which are relevant to all clients.
SECTION 1: CLIENT INFORMATION STATEMENT
–
ENTITIES TRUSTS AND PARTNERSHIPS
(Other than Individual or Joint Account)
Completing this Client Services Agreement (the “
Agreement
”)
This Client Information Statement is for Companies, Trusts or Partnerships. If you are intending to open an account in the name of an Individual or of Joint Applicants, please ask KVB for the “Client Information Statement –Individual or Joint Account”.
Please complete the applicable part of Part 1, depending on your application category (Company, Trust or Partnership).
If you would like to authorise any person to act on this account on your behalf, also complete Part 2: Authorised Persons (page 16). Please then proceed to complete Parts 3 to 7 (as applicable).
Would you like to receive KVB’s free client newsletters?
Yes No
Please indicate how you first became aware of KVB Kunlun:
Advertising Referral from a Referral from a friend Personally know KVB member firm or family member employee
Other (please specify):
Should you have any queries on completing this Agreement, please contact KVB.
For office use only
Account Number: ………..
Sales Code: ………..
Account opened with (specify KVB entity):
KVB Kunlun Pty Ltd
Verification
Part 1. Applicant Details
Completing this Agreement
Please complete ONE of the three following alternative categories, depending on whether you are:
(A) a Company Pages 2 - 5
(B) a Trust Pages 6 - 11
(C) a Partnership Pages 12 - 15
Then please complete Parts 2 – 7 Pages 16 - 29
(A) COMPANY
Please complete all details below
Company details
Full Company Name: Trading Name:(if any)
……….... ……….
Company / Registration Number: ………
Jurisdiction of Incorporation: ………...
Address of Place of Business / Registered Address (NOT a PO Box):
Street No: ……… Street Name: ………
Suburb/RD Number: ………Town/City: ………
Postcode: ………Country: ………
Mailing Address (if different):
Street No: ……… Street Name: ………
Suburb: ……… Town/City: ………...
Postcode: ………Country: ……….
Contact Details:
Phone Work : ………Fax: ………
Phone Mobile: ………..Email: ………
This Agreement must be signed by two Directors unless the Company only has one Director or the Company constitution allows a single Director signatory, in which case the Director must sign before a witness.
Please provide details for each director and beneficial owner of the Company using the below forms. Photographic identification and proof of address are required for each Director and beneficial owner.
If there are more than three directors, please provide details on a separate form.
Director 1
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
E-mail:
Director 2
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
E-mail:
Director 3
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
Beneficial Owner(s)
Provide details for any person (individual):
who owns more than 25% of the company;
who has effective control over the company (e.g. senior management such as the CEO); or
on whose behalf a transaction is conducted.
If you have already provided details for a Director above, but that person is also a Beneficial Owner in another capacity
(e.g. shareholder), please write the individual’s name and relationship to the customer below and state ‘See details above’.
If there are more than three beneficial owners, please provide details on a separate form.
Beneficial owner 1
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Relationship to the customer:
Street No: Street Name:
Suburb: ………..……… Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile:
Beneficial owner 2
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Relationship to the customer:
Street No: Street Name:
Suburb: ……….. Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile:
Beneficial owner 3
Dr/Mr/Ms/Mrs/Miss First Name(s):
Surname:
Residential Address (NOT a PO Box):
Street No:
Suburb:……….
Postcode:
Phone Work:
Phone Home:
Phone Mobile:
Middle Name(s):
Date of Birth:
Relationship to the
customer:
Street Name:
Town / City:
Country: Fax: E-mail:
Nature and purpose
What is the purpose of your relationship with KVB? (i.e. what are you trying to achieve by investing with KVB? E.g. investing for retirement / short term investment / long term savings)
………... ...
………... ...
What is the expected nature and level of transaction activity? (i.e. how regularly and for how long do you intend to invest with KVB? E.g. monthly deposits until retirement / one-off investment / annual deposit and monthly withdrawals for living expenses)
………... ...
………... ...
Verification Documents
A verified/certified photocopy of ONE of the following verification documents is required for EACH Authorised Person:
Valid Passport OR Australian Driver’s Licence
AND
Verification of address (council rates bill, utilities bill)
Without this information it is not possible to open or operate your account.
(B) TRUST APPLICANT
Please complete all details below (IRD number is compulsory)
Trust details
Full Legal Name of Trust: ………
Trust Number: ………..
Country Trust is established: ………..
Type of Trust: ………
Address of Place of Business / Registered Address (NOT a PO Box):
Street Number: ……….
Suburb: ………..
Postcode: ………..
Telephone Number: ………
.
Mailing Address
Street Name: ………
Town / City: ……….
Country: ………
Street Number: ……….. Street Name: ………
Suburb: ……… Town / City: ……….
Postcode: ……….. Country: ………
All Trustees must provide their details (including Residential Address), provide identification and sign the Agreement under Part 6: Agreement and Signatures (page 25).
If more than 3 trustees, please provide details on a separate sheet.
Trustee 1
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town / City:
Postcode: Country:
Mailing Address (if different): Street No: ……… Street Name:
Suburb/RD Number: Town/City:
Postcode: Country
Phone Home: Phone Work:
Phone Mobile: E-mail:
Trustee 2
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town / City:
Postcode: Country:
Mailing Address (if different): Street No: ……… Street Name:
Suburb/RD Number: Town/City:
Postcode: Country
Phone Home: Phone Work:
Phone Mobile: E-mail:
Trustee 3
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town / City:
Postcode: Country:
Mailing Address (if different): Street No: ……… Street Name: Suburb/RD Number: Town/City:
Postcode: Country
Phone Home: Phone Work:
Phone Mobile: E-mail:
Beneficial Owner(s)
Please provide details for any other Beneficial Owner(s) of the Trust (i.e. besides trustees, any other person (individual) who has effective control
over the trust, specific trust property, or with the power to amend the trust’s deeds, or remove or appoint trustees) or person on whose behalf a transaction is conducted (e.g. besides trustees, any other persons who are able to give instructions about the trust’s assets).
Beneficial owner 1
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address:
Street No: Street Name:
Suburb:……… Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile: Relationship to the customer:
Beneficial owner 2
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address:
Street No: Street Name:
Suburb:……… .
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile: Relationship to the customer:
Beneficial owner 3
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address:
Street No: Street Name:
Suburb: ………. Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile: Relationship to the customer:
If a trustee is a corporate trustee:
Corporate Trustee Full Legal Name:
………....
Company / Registration Number: ………
Trading Name (if different) ……….
Registration Address (NOT a PO Box): Street No: ………
Jurisdiction of Incorporation: ………...
Street Name: ………..
Suburb/RD Number: ……… Town/City: ………
Postcode: ……… Country: ………
Mailing Address: Street No: ………. Street Name: ………
Suburb: ……… Town/City: ….………
Postcode: ……… Country: ………
Phone Work: ……….. Fax: ….………
Phone Mobile: ……….. Email: .………
Beneficial Owner(s) and persons representing Trustee Company
Please provide details of any other:
Beneficial Owner(s) of the trustee company (i.e. any person (individual) who has effective control over the company (e.g. senior management such as the CEO) or who owns more than 25% of the company)
persons on whose behalf a transaction is conducted (e.g. any other persons who are able to give instructions about the
company’s assets)
other individuals representing the corporate trustee (other than Authorised Representatives – see Part 2).
If you have provided the below information in a different capacity (e.g. as a trustee) please write the individual’s name and relationship to the customer below and state ‘See details above’.
Individual 1
Dr/Mr/Ms/Mrs/Miss First Name(s):
Surname:
Residential Address (NOT a PO Box): Street No:
Suburb:
Postcode:
Mailing Address (if different): Street No: ………
Suburb……….
Postcode: Phone Home: Phone Mobile:
Relationship to the customer:
Middle Name(s):
Date of Birth:
Street Name:
Town / City: Country: Street Name: Town/City: Country Phone Work: E-mail: Individual 2
Dr/Mr/Ms/Mrs/Miss First Name(s):
Surname:
Residential Address (NOT a PO Box): Street No:
Suburb:
Postcode:
Mailing Address (if different): Street No: ………
Suburb: ………..
Postcode:
Phone Home:
Phone Mobile:
Relationship to the customer:
Middle Name(s):
Date of Birth:
Street Name:
Town / City:
Country: Street Name: Town/City: Country Phone Work: E-mail: Individual 3
Dr/Mr/Ms/Mrs/Miss First Name(s):
Surname:
Residential Address (NOT a PO Box): Street No:
Suburb:
Postcode
Mailing Address (if different): Street No: ………
Middle Name(s):
Date of Birth:
Street Name:
Town / City:
Country: ….
Street Name:
Suburb: ………. Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: E-mail:
Relationship to the customer:
Details of any other Beneficial Owner(s) of the Trust i.e. any person (individual) who has effective control over the trust or on whose behalf a transaction is conducted (e.g. protector or special trustee, or one or more of the beneficiaries).
Beneficial owner / Representative 1
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address:
Street No: Street Name:
Suburb: ……….. Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile: Relationship to the customer:
Beneficial owner / Representative 2
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address:
Street No: Street Name:
Suburb: ……….. Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile: Relationship to the customer:
Beneficial owner / Representative 3
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address:
Street No: Street Name:
Suburb:
………..
Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile: Relationship to the customer:
Evidence of source of funds/wealth of the Trust
(e.g. evidence of the origin of the settlor’s wealth, e.g. inherited family wealth, accumulated business earnings, or funds from the sale of a property, or the source(s) of income the trust is receiving, e.g. income from an underlying company or a monthly deposit from a bank account)
……… ……….
……… ………
Please state whether this is a charitable trust (If yes, please state the objects of the trust).
……… ……….
……… ……….
Please state whether this is a discretionary trust or a trust with more than 10 beneficiaries?
(If yes, please provide a description of each class or type of beneficiary. If no, you will need to provide identification details for each beneficiary. Please contact us for further information).
……… ……….
……… ………
Nature and purpose
What is the purpose of your relationship with KVB? (i.e. what are you trying to achieve by investing with KVB? E.g. investing for retirement / short term investment / long term savings)
………... ...
………... ...
What is the expected nature and level of transaction activity? (i.e. how regularly and for how long do you intend to invest with KVB? E.g. monthly deposits until retirement / one-off investment / annual deposit and monthly withdrawals for living expenses)
………... ...
………... ...
Verification Documents
A verified/certified photocopy of ONE of the following verification documents is required for EACH Authorised Person:
Valid Passport OR Australian Driver’s Licence
AND
Verification of address (council rates bill, utilities bill)
Without this information it is not possible to open or operate your account.
(C) PARTNERSHIP
Please complete all details below
Partnership details
Partnership Name:
……… ....………....
Trading Name (if different): Identification/registration number (if applicable):
……… ....………....
Company / Registration Number: ………
Jurisdiction of residence: Registered Name (if different to Partnership Name):
……… ....………....
Address of Place of Business / Registered Address (NOT a PO Box):
Street No: ……… Street Name: ………..
Suburb: ……… Town/City: ……….
Postcode: ………Country: ……….
Mailing Address (if different):
Street No: ……… Street Name: ……….……
Suburb: ……… Town/City: ………..
Postcode: ………Country: ……….
Contact Details:
Phone Work : ……… Fax: ………
Phone Mobile: ………..Email: ………
Every Partner in the Partnership must sign the Agreement under Part 6: Agreement and Signatures (page 25).
Partner / Authorised Signatory details
Full legal names and details of all Partners of a Partnership Applicant are required.
Partner 1
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
E-mail:
Partner 2
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
E-mail:
Partner 3
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
Beneficial Owner(s)
Provide details for any other person (individual) who has effective control over the Partnership or on whose behalf a transaction is conducted.
Beneficial owner 1
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Relationship to the customer:
Street No: Street Name:
Suburb: ……… Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile:
Beneficial owner 2
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s):
Surname: Date of Birth:
Residential Address (NOT a PO Box): Relationship to the customer:
Street No: Street Name:
Suburb: ……… Town / City:
Postcode: Country:
Phone Work: Fax:
Phone Home: E-mail:
Phone Mobile:
Beneficial owner 3
Dr/Mr/Ms/Mrs/Miss First Name(s):
Surname:
Residential Address (NOT a PO Box):
Street No:
Suburb: ………
Postcode:
Phone Work:
Phone Home:
Phone Mobile:
Middle Name(s):
Date of Birth:
Relationship to the customer:
Street Name:
Town / City:
Country: Fax: E-mail:
Nature and purpose
What is the purpose of your relationship with KVB? (i.e. what are you trying to achieve by investing with KVB? E.g. investing for retirement / short term investment / long term savings)
………... ...
………... ...
What is the expected nature and level of transaction activity? (i.e. how regularly and for how long do you intend to invest with KVB? E.g. monthly deposits until retirement / one-off investment / annual deposit and monthly withdrawals for living expenses)
………... ...
………... ...
Verification Documents
A verified/certified photocopy of ONE of the following verification documents is required for EACH Authorised Person:
Valid Passport OR Australian Driver’s Licence
AND
Verification of address (council rates bill, utilities bill)
Without this information it is not possible to open or operate your account.
Part 2: Authorised Persons
This part must be completed for any additional person(s) whom you would like to be Authorised Person(s) for the purposes of the Agreement. Note that all Authorised Persons must be 18 years or older. Please complete all details below.
Authorised Person details
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s): ………..
Surname:
Relationship to Applicant: Date of Birth:
Address: Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
E-mail:
Authorised Person details
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s): ………. Surname:
Relationship to Applicant: Date of Birth:
Address: Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
E-mail:
Authorised Person details
Dr/Mr/Ms/Mrs/Miss First Name(s): Middle Name(s): ...
Surname:
Relationship to Applicant: Date of Birth:
Address: Street No: Street Name:
Suburb: Town/City:
Postcode: Country:
Phone Home: Phone Work:
Phone Mobile: Fax:
E-mail:
Part 3: FATCA information
Foreign Account Tax Compliance Act
Entity Self-Certification
Notice to Account Holders with a KVB Australian or New Zealand Financial Institutions
We are obliged under the Foreign Account Tax Compliance Act Tax (“FATCA”) of the United States Internal Revenue Code (the Code”), the Treasury Regulations thereunder an d the intergovernmental agreements (“IGAs”) that the governments of Australia and New Zealand have entered into with the United States, and any associated guidance that the relevant tax
authorities have issued pursuant to their IGAs, to request from each Account Holder of an account identified as a U.S. Accoun t the Account Holder’s U.S. taxpayer identification number (“TIN”). Furthermore, pursua nt to the IGAs with Australia and New Zealand, we must report certain information on applicable Account Holders to the tax authorities of the governments of Australia and New Zealand, which will in turn report such information to the United States Internal Revenue Service (“IRS”).
Notice and Request for Consent to Account Holders with a KVB Hong Kong Financial Institution
We are obliged under FATCA, the Treasury Regulations thereunder and the intergovernmental agreement (“ IGA”) that Hong Kong agreed on May 9, 2014 to enter into with the United States to request from each Account Holder of an account identified as a U.S. Account the Account Holder’s U.S. taxpayer identification number (“TIN”) and consent to report such information to the United States Internal Revenue Service (“IRS”). For this purpose, any account held by an entity that is a Specified U.S. Person or a Passive Non-Financial Foreign Entity (“NFFE”) with one or more controlling U.S. persons is considered to be a U.S. Account. The purpose of this self-certification form is confirm the status of your account and, if status as a U.S. Account is confirmed, to request your U.S. TIN and your consent to report such information to the IRS. If your Account is identified as a U.S. Account and was maintained on June 30, 2014, we are further obligated to inform you that, if you do not provide your U.S. TIN and consent: (1) aggregate information about your Account shall be reported to the IRS; (2) information about your account may give rise to a group request by the IRS for more specific information about your account; (3) in such case, the account information shall be transmitted to the Hong Kong tax administration; and (4) the Hong Kong tax administration may exchange this information with the IRS pursuant to the IGA. If your Account was opened on or after July 1, 20141 and is a U.S. Account, we are obligated to inform you that your consent to report your U.S. TIN to the IRS is a condition to your opening the Account with us.
If you are a Nonparticipating Financial Institution and your Account was maintained on June 30, 2014, we are obligated to request your consent to report Foreign Reportable Amounts paid to you and to inform you that if you do not consent: (1) aggregate information about Foreign Reportable Amounts paid to you shall be reported to the IRS; (2)such information about your account may give rise to a group request by the IRS for more specific information about your account; (3) in such case, the account information shall be transmitted to the Hong Kong tax administration; and (4) the Hong Kong tax administration my exchange this information with the IRS pursuant to the IGA.2 If your Account was opened, or an obligation was entered into with you, on or after July 1, 2014, we are obligated to inform you that your consent to report Foreign Reportable Amounts paid to you to the IRS is a condition to your opening the Account with us or entering into the obligation.
If you do not wish KVB to use or disclose your personal data for any of the above purposes, you may withdraw your consent by not completing this self-certification form, however this will mean that your application to open an Account with KVB will be declined.
Instructions for completion for all Account Holders
Please complete the sections below as directed and provide any additional information that is requested.
Terms referenced in this Form shall have the same meaning as applicable under FATCA, the Code, the Treasury Regulations and the applicable IGA and guidance issued thereunder .
If any of the information below regarding your tax residence or FATCA classification changes in the future, please ensure you advise us of these changes promptly. If you have any questions about how to complete this form, please contact your tax advisor.
Foreign Account Tax Compliance Act
Entity Self-Certification
3Section 1: Account Holder Identification
Name of KVB Financial Institution
KVB Account Number
______________________________________
________________________________
KVB Account Name
______________________________________
Account Holder Name
Date of Incorporation/Organisation
Country
Registered Address:
Number & Street
City/Town
State/Province/County
Post Code
Country
Mailing address (if different from above):
Number & Street
City/Town
State/Province/County
Post Code
Country
Section 2: U.S. Persons
4Please check and complete as appropriate.
(a)
The Entity is a Specified U.S. Person and the entity’s U.S. federal taxpayer identifying
number (U.S. TIN) is as follows: _____________________________
(b)
The Entity is a U.S. Person that is not a Specified U.S. Person. Indicate exception clause that
applies)
5:
___________________________________
3This form is for Entities only. An Entity is any person other than a natural person.
4Under the Code and the IGA, an Entity is a U.S. Person if it is a partnership or corporation organized in the U.S. or under the laws of the U.S. or any State
thereof, a trust if (i) a court within the U.S. would have authority under applicable law to render orders or judgments concerning substantially all issues regarding administration of the trust and (ii) one or more U.S. persons have the authority to control all substantial decisions of the trust, or an estate of a decedent that is a citizen or resident of the U.S.
Section 3: Non-U.S. Entities
Indicate the Entity’s place of tax residence. If resident in more than one country, please detail all countries and
associated tax reference number type and number (attach extra sheets if needed).
Tax reference number
Country/countries of tax residency
type
Tax reference number
Section 4: Entity FATCA Classification
4.1
If the Entity is a Registered Financial Institution, check one of the categories below, and provide the Entity’s
FATCA GIIN at 4.1.1.
(a)
Australia, New Zealand, Hong Kong or IGA Partner Jurisdiction Financial Institution
(b)
Registered Deemed Compliant Foreign Financial Institution
(c)
Participating Foreign Financial Institution
4.1.1
Global Intermediary Identification number (GIIN):
_________________________________________________
4.2
If the Entity is a Financial Institution but unable to provide a GIIN, please check one of the following
reasons:
(a)
The Entity is a Model 1 Financial Institution and has not yet obtained a GIIN but intends to do
so, if required.
(b)
The Entity is a Sponsored Financial Institution and has not yet obtained a GIIN but is
sponsored by another entity that has registered as a Sponsoring Entity. Provide the Sponsoring
Entity’s name and GIIN.
Sponsoring Entity’s Name: _________________________________
Sponsoring Entity’s GIIN: _________________________________
(c)
The Entity is a Trustee Documented Trust. Provide the Trustee’s name and GIIN.
Trustee’s Name: _____________________________________________
Trustee’s GIIN: ______________________________________________
5
Under the Code and the IGA, a Specified U. S. Person is any U.S. Person other than: (i) a corporation the stock of which is regularly traded on one or more established securities markets, as described in Treas. Reg. § 1.1472‐1(c)(1)(i); (ii) a corporation that is a member of the same expanded affiliated group as a corporation described in Treas. Reg. § 1.1472‐1(c)(1)(i); (iii) an Organisation exempt from tax under Code § 501(a) or any individual retirement plan as defined in section 7701(a)(37); (iv) the United States or any wholly owned agency or instrumentality thereof; (v) any State, the District of Columbia, any U.S. territory, any political subdivision thereof, or any wholly owned agency or instrumentality of any of the foregoing; (vi) a bank as defined in Code § 581; (vii) a real estate investment trust as described in Code section 856; (viii) a regulated investment company as defined in Code section 851 or an entity registered at all times during the tax year under the Investment Company Act of 1940; (ix) any common trust fund as defined in Code section 584(a); (x) any trust that is exempt from tax under section 664 or described in section 4947; (xi) a dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any State; (xii) a broker; (xiii) a tax‐exempt trust under a section 403(b) plan or section 457(g) plan.
KVB Kunlun Pty Ltd – Client Services Agreement April 2018
(d)
The Entity is a Certified Deemed Compliant, or otherwise Non-Reporting, Foreign Financial
Institution (including a Foreign Financial Institution deemed compliant under Annex II of the
IGA, except for a Trustee Documented Trust or Sponsored Financial Institution). Indicate
exemption:
___________________________________________________________________________
(e)
The Entity is an Excepted Foreign Financial Institution. Indicate exemption:
___________________________________________________________________________
(f)
The Entity is a Non-Participating Foreign Financial Institution
4.3
If the Entity is a not a Financial Institution, confirm the Entity’s FATCA status below:(a)
The Entity is an Exempt Beneficial Owner. Indicate status:
___________________________________________________________________________
(b)
The Entity is an Active Non-Financial Foreign Entity (including an Excepted NFFE)
(c)
The Entity is a Passive Non-Financial Foreign Entity. Complete table below providing details
of any Controlling Persons
6(attach extra sheet if necessary).
Details of
U.S. TIN or
controlling
other Tax
person’s
Country(ies)
Reference
Date of
Full residence
beneficial
of tax
Number and
Full Name
birth
address
interest*
residence
Type
*Natural persons that are Controlling Persons should also complete the Individual Self-Certification
6
Controlling Persons means the natural persons who exercise control over an Entity. For trusts and other similar legal arrangements, it means the settlor, the trustee(s), the protector (if any), the beneficiaries, or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and
in the case of an Entity other than a trust, such term means persons in equivalent or similar positions. The term “Controlling Persons” shall be interpreted in a
Section 5: Declaration and Undertakings
I/We declare (as an Authorised signatory of the Entity) that the information provided in this form is, to the best of
my/our knowledge and belief, accurate and complete. I/We undertake to advise you promptly and provide an
updated Self-Certification form within 30 days where any change in circumstances occurs, which causes any of the
information contained in this form to be inaccurate or incomplete. Where required by FATCA and/or applicable law,
I/we hereby consent to your sharing this information with the IRS and/or other relevant tax authorities.
Authorised Signature:
Authorised Signature:Name:
Name:
Position/Title:
Position/Title:
Part 4: Account Type
I am applying to KVB to open (Clients may select more than one account type):
Accounts with KVB Kunlun Pty Ltd
Standard Margin Account
Minimum Margin Required Stop Out Level
Base currency:______________________
Market access (Please tick)
North America
□ United States
□ Canada
Europe
□ France
□ Germany
□ United
Kingdom Asia Pacific
□ Hong Kong
□ Japan
Others (Please specify)____________________________
Other: (Clients may select more than one account type)
Part 5: Client Information
This page is optional but the information provided will enable us to better assist you with your requirements.
However, please note that:
As set out on page 7 (Client Qualification) of the PDS, before a retail client can become a client, KVB Kunlun will need the client to provide information about their knowledge, experience, and level of understanding of the Contracts KVB Kunlun issues, including understanding of the risk involved in trading leveraged Contracts on the underlying assets KVB Kunlun offers (currency pairs (FX), commodities, and indices). If KVB Kunlun is not satisfied that you have the ability to understand these particular types of derivative and the risks involved, KVB Kunlun will not accept you as a client. If you do not provide the information to enable us to assess suitability, or you provide insufficient information, you should be aware that:
KVB Kunlun is required to request information from you in order to assess whether the derivative is suitable for you;
without this information there is a strong risk KVB Kunlun will not be able to assess whether you have the necessary ability to understand the derivatives and the risks involved
Accordingly, where appropriate, please provide the information requested below in respect of relevant director(s), employee(s), or agent(s) of the applicant.
Investment Objectives of the Client:
Maximise Income Maximise Capital Growth
Balanced Other (please specify)
Level of Acceptable Risk:
Low Moderate
High Other (please specify)
Level of experience investing in financial markets:
Margined Margined Options Futures Exchange Securities Other trading Foreign Contracts for Traded activity (please Exchange Difference Contracts specify below) Contracts
No experience
Low experience Moderate Experience Advanced Experience Other (please specify below)
Other experience
Other trading activity
Assets (AUD):
Less than $100,000 $100,000-$250,000 $250,000-$500,000
$500,000-$1,000,000 $1,000,000-$2,000,000 More than $2,000,000
Liabilities (AUD):
Net Worth (AUD):
Less than $100,000 $100,000-$250,000 $250,000-$500,000
$500,000-$1,000,000 $1,000,000-$2,000,000 More than $2,000,000
Other information you believe is relevant to our understanding of your current circumstances and investment requirements
Choose one or more additional sources of income from the list below. For Joint Accounts, enter combined sources of income. We will be able to approve your application more quickly if you provide the percentage of annual income and detailed description for each source.
Source of Income Percent of
Annual income
(use whole numbers)
Description
Please now go to Part 6: Agreement and Signatures (page 25) to continue.
Part 6: Agreement and Signatures
Please refrain from deleting, altering or changing in any way the text in either Part 6 or in Section 2 – Terms & Conditions of the Agreement. We will not accept any amended Agreements.
By signing this Agreement we agree as follows:
• I/We agree to all the Terms and Conditions set out in this Agreement.
• I/We confirm that all the details set out in this Agreement are correct.
• I/We authorise that any person named as a person authorised to act on our behalf may give instructions to transact any Margin Foreign Exchange and/or Contracts for Difference on our behalf and give any other instruction or take any other action which may be incidental to the matters contemplated by this Agreement.
• I / We agree that where there is more than one of us, the instructions of any one of us will be sufficient authority for KVB to act on those instructions unless otherwise advised in writing and acknowledged by KVB.
• I/We agree that notices may be given by letter, facsimile, e-mail or any other written medium, that dealing instructions may be given in writing via any Online Trading System to which KVB has provided access (if applicable) or by phone and that in all cases KVB is entitled to treat them as genuine if they appear to come from me/one of us or any person named as authorised to act.
• I / We confirm that KVB has drawn my/our attention to section 6 of the PDS page 10 and in particular the limits of KVB s a ilit to p o ide ad i e.
• I/We have read and understood the risks outlined in clause 8 of the General Terms and Conditions.
• I/We have read and understood the matters referred to in clause 25 of the General Terms and Conditions (Privacy).
• I/We confirm that we have been given, read, and understood the Product Disclosure Statement and Financial Services Guide, and are aware of the i fo atio a aila le o KVB Ku lu s e site
www.kvbkunlun.com/en/account-opening/australia/
• I/We acknowledge that a Product Disclosure
Statement is not required for our services in relation to Exchange Traded Contracts or for Securities.
• However, I/we acknowledge that we have read and understood the Product Disclosure Statement given to me/us which explains the nature and specification details of the Contracts in which KVB Kunlun will deal on our behalf.
• I/We declare that the information provided in Part 3 of this Agreement is, to the best of my/our knowledge and belief, accurate and complete. I undertake to advise KVB promptly and provide a written notice within 30 days where any change in circumstances occurs which causes any of the information contained in Part 3 of this Agreement to be inaccurate or incomplete. Where required by FATCA and/or other applicable law, I/we hereby consent to sharing this information with the IRS and /or other relevant tax authorities.
Part 6A: Instructions for Signing
• Every person named as one of the account holders or as an Authorised Person must sign below and indicate the capacity in which they are signing
• Where a Company is the account holder, two Directors must sign, or if there is only one Director, then that Director’s signature must be witnessed on page 27
• Where a Trust is the account holder, then every Trustee of the Trust must sign
• Where a Partnership is the account holder, then all Partners must sign
• Where a person signs on behalf of another as their Attorney, an original certified copy of the Power of Attorney must be provided, and a signed and completed copy of Part 6B: Certificate of Non- revocation of Power of Attorney (page 28) must accompany this Agreement.
Name: Name:
Signature: Signature:
Status1:
Status1:
Date:
Date: Day Month Year
Day Month Year
Name: Name:
Signature: Signature:
Status1: Status1:
Date: Date:
Day Month Year Day Month Year
Name: Name:
Signature: Signature:
Status1: Status1:
Date: Date:
Day Month Year Day Month Year
1.Please identify status: Director/Trustee/Partner/Attorney/Authorised Person must sign.
KVB Kunlun Pty Ltd – Client Services Agreement April 2018
Witness (where only one Director signs on behalf of a Company)
Name of Witness: Signature:
Occupation:
Mailing Address: Street No: Street Name:
Suburb/RD Number: Town/City:
Postcode: Country:
Execution by KVB
Signed for and on behalf of KVB Kunlun Pty Ltd
By its authorised representative
Name: Name:
Signature: Signature:
Title: Title:
Date: Date:
Day Month Year Day Month Year
Part 6B: Certificate of Non-revocation of Power of Attorney
If a Power of Attorney accompanies this Agreement, please complete the following:
I, (Full name )
of (Place and country of residence) ,
(Occupation)
hereby certify
1. that I am the Attorney of (Full name of donor) , (Place and country of residence of donor) under
and by virtue of a deed dated
Day Month Year
under which I was appointed attorney by him/her/them.
2. that I have executed the Agreement hereby as Attorney under the said Power of Attorney and pursuant to the power thereby conferred upon me.
3. that I have not received any notice or information of the revocation of the said Power of Attorney by death or otherwise and I believe the same to be in full force and effect.
Signed at
Dated:
Day Month Year
Signature:
Part 7: Checklist
Mandatory
Completed the relevant Applicant Details for Company Applicants, Trust Applicants and Partnership in Part 1.
If you are a Company Applicant, KVB has received:
a. a copy of the documentary evidence verifying identity, and bank account information, requested by KVB b. the duly completed Personal Guarantee
c. the appropriate authority(s) to act have been completed and documentary evidence of such authority has been provided
If you are a Trust Applicant, KVB has received:
a. a copy of the documentary evidence verifying identity, and bank account information, requested by KVB
b. the appropriate authority(s) to act have been completed and documentary evidence of such authority has been provided
If you are a Partnership Applicant, KVB has received:
a. a copy of the documentary evidence verifying identity, and bank account information, requested by KVB
b. the appropriate authority(s) to act have been completed and documentary evidence of such authority has been provided
Completed Part 2: Authorised Persons (page 16) and provided a copy of the documentary evidence verifying identity requested by KVB.
Completed Part 3: FATCA Information (page 17) and the FATCA Entity Self-Certification Form at the end of this Agreement
Completed Part 4: Account Type (page 22)
Completed Part 5: Client Information (page 23)
All account holders and Authorised Persons have signed Part 6A: Agreement and Signatures (page 26)
If a Power of Attorney accompanies this Agreement, Part 6B: Certificate of Non-revocation of Power of Attorney (page 28) has been completed
SECTION 2: TERMS AND
CONDITIONS
The following Terms & Conditions shall replace any prior or existing agreement between the parties, or previously issued terms & conditions, and shall apply to any existing arrangements currently operating between the parties. By executing an Account Application and/or undertaking any transaction with KVB Kunlun Pty Ltd
ACN 4 AF“L KVB Ku lu ou
hereby agree to be bound by the following Terms & Conditions (as amended from time to time).
1.
P
URPOSEThe Client wishes KVB Kunlun to deal in exchange-traded and over-the-counter financial products on their
ehalf i a o da e ith the Clie t s i st u tio s f o time to time, and in accordance with the terms and conditions contained herein.
2.
D
EFINITIONS ANDI
NTERPRETATIONIn these Terms & Conditions unless a different intention is expressed, the following terms (as subsequently modified by amended legislation or regulation) shall mean:
a ou t ea s the a ou t of the Clie t deali g i the financial products issued by KVB Kunlun, which is established in accordance with the terms and conditions of this Terms & Conditions.
age t ea s a legal e tit u de taki g a t a sa tio or function on behalf of another legal entity but in its own name;
"Terms & Conditions" means this Account Application, these terms & conditions and any other documents annexed or incorporated by reference;
Autho ised Pe so ea s a pe so autho ised to bind the Client under these Terms & Conditions;
"Business Day" means a day on which trading banks in Sydney, Australia are open for business;
CFD is a Co t a t Fo Diffe e e hi h is a o e -the-counter derivative product comprising an agreement under which one party is entitled to be paid an amount of money (profit), or has to pay an amount of money (loss), resulting from movements in the price or value of an underlying instrument or security (without
actually owning that underlying instrument or security).
Close of Busi ess ea s the ti e at hi h the arket of the
Exchange, on which the Underlying Security over which a CFD is quoted, normally closes on any Business Day.
Closi g Date ea s i elatio to a CFD the date o hi h the Client accepts the Closing Price of the Underlying Security, or on which a Closing Date is deemed to have occurred in accordance with these Terms & Conditions.
Closi g Noti e ea s i elatio to a CFD the oti e gi e by one party to the other to close any CFD in accordance with these Terms & Conditions.
Closi g P i e means in relation to a CFD the Underlying Security Price as determined by KVB Kunlun at the time KVB Kunlun receives the Closing Notice.
Closi g Value ea s i elatio to a CFD the Closi g P i e multiplied by the Contract Quantity.
Collate al ea s any property (including securities or other assets) deposited with KVB Kunlun by the Client;
Co t a t ea s a o t a t hethe e al o itte , fo the purchase or sale of a financial product, entered into by the Client;
Co t a t Value ea s i relation to a CFD the Underlying Security Price multiplied by the Contract Quantity.
Co t a t Qua tit ea s i elatio to a CFD the u e of Underlying Securities to which the CFD relates. "Corporations Act" means the Corporations Act 2001 (Cth);
E ess Va iatio Ma gi ea s the a ou t of the Clie t s Variation margin plus any amount payable by KVB Kunlun to the Client at that time and less any amount payable by the Client to KVB Kunlun at that time;
Fi a ial p odu t i ludes futu es, optio s, contracts for difference, commodities and foreign exchange contracts, whether traded on an eligible exchange or over-the-counter, as those terms are defined in the applicable legislation or governed by market convention;
I itial Ma gi ea s a a ou t required to be deposited by
the Client with KVB Kunlun to open a position.
Lo g Pa t ea s the pa t ide tified as ha i g otio all bought the Underlying Security.
Ma gi ea s I itial Ma gi o Va iatio Ma gi o oth.
Net f ee e uit eans the amount of money you would have left in your account should all of your open positions be closed out at the current market price less any interest, fees or transaction charges (gross liquidation value) less your Margin requirement.
Ope ati g ules shall ea the ules, egulatio s, customs and practices from time to time of any exchange, clearing house or other organisation or market involved in the execution or settlement of any financial product transaction or contract;
"Relevant Exchange" means, in relation to a CFD transaction, the financial market on which the reference security which forms the subject of the CFD is quoted and is able to be traded. If the reference security is quoted on more than one financial market, KVB Kunlun will advise you of the Relevant Exchange for the purposes of the CFD, at the time the CFD is entered into;
“ho t Pa t ea s the pa t ide tified as ha i g notionally sold the Underlying Security;
U de l i g “e u it ea s the u de l i g se u it (including index) to which the CFD relates;
U de l i g “e u it P i e ea s i elatio to a CFD the current price of the Underlying Security as determined by KVB Kunlun;
Va iatio Ma gi ea s the a ou t deposited the Client with KVB Kunlun including any increase or reduction arising from settlement of a closed position;
T ust ea s he e the Clie t is a t ust, the t ust identified in the Client Details Form;
T ust Deed ea s he e the Clie t is a t ust, the trust deed governing the Trust as varied, substituted, supplemented or resettled from time to time.
b) Headings are for convenience only and shall not affect the construction and interpretation of these Terms & Conditions
c) The singular includes the plural and vice versa. d) Reference to a person or individual includes bodies
corporate, unincorporated associations, partnerships and individuals.
e) If there is any conflict between the terms of these Terms & Conditions and the relevant operating rules, the operating rules shall prevail.
f) Any reference in these Terms & Conditions to any law, statute, regulation or enactment shall include references to any statutory modification or re-
enactment thereof or to any regulation or order made
under such law, statute or enactment (or under such modification or re-enactment).
3.
C
LIENT REPRESENTATIONS AND WARRANTIESThe Client represents and warrants to KVB Kunlun that:
a) these Terms & Conditions constitutes a legal, valid and binding obligation of the Client;
b) the Client will not enter into a financial product transaction as or by way of a wager and that all orders to be placed and all trading to be conducted under these Terms & Conditions are lawful;
c) in executing and giving effect to these Terms & Conditions, the Client does not and will not infringe any provision of any other document or agreement to which the Client is a party, nor any law or judgment/order binding upon it;
d) where the Client is more than one person, that all decisions made, and instructions issued, pursuant to these Terms & Conditions, are made on a fully informed and agreed basis by all the parties to the account;
e) the Client is not an employee or the close relative of an employee of any exchange participant;
f) all information supplied to KVB Kunlun by the Client is, or at the time it is supplied will be, accurate in all material respects and the Client will not omit or withhold any information which would make such information inaccurate in any material respect;
g) the Client shall, where so required, provide to KVB Kunlun a valid and binding guarantee and indemnity in favour of KVB Kunlun as a precondition of entering into these Terms & Conditions;
h) the Client will provide to KVB Kunlun on request such information regarding its financial and business affairs and/or identity, as KVB Kunlun may reasonably require;
i) in executing these Terms & Conditions, the Client will appoint KVB Kunlun as its agent for the purpose of dealing in financial products in accordance with the terms of these Terms & Conditions;
j) the Client and KVB Kunlun are bound by the applicable financial product laws, Corporations Act, applicable operating rules, customs, usages and practices (as modified from time to time) of the applicable exchange and clearing houses where any dealing takes place;
right to request such documents and information. The Client authorises KVB Kunlun to pass on/deliver all such information and documents to any such person.
l) the Client is not insolvent, and if the Client is a corporate client, no resolution has been passed and no petition has been presented or order made for the Clie t s i di g up o li uidatio o the appoi t e t of a receiver or a receiver and manager or an administrator of other insolvency official to the Client or any of its assets;
m)KVB Kunlun relies on representations and
warranties made by the Client. These representations and warranties and those contained elsewhere in these Terms & Conditions, survive the entering into of these Terms & Conditions and are repeated in respect of each financial product transaction.
4.
C
APACITY TO ENTER INTO THESET
ERMS&
C
ONDITIONSThe Client represents and warrants to KVB Kunlun that:
a) the Client is duly organised and validly existing (or, if an individual, is of legal age and is under no legal disability or incapacity) and has full power and authority to enter into, and has taken all necessary steps to enable it lawfully to enter into, these Terms & Conditions and the transactions contemplated by it, and perform its obligations it;
b) the person executing these Terms & Conditions has full power and authority to execute the Agreement on behalf of the Client, and bind the entity (whether individual, company, partnership or otherwise);
c) the Client has been properly categorised as a retail or wholesale client pursuant to the Corporations Act 2001 (Cwth), and accurately advised KVB Kunlun of its status as such;
d) where the Client is a Trustee (including the trustee of a superannuation fund)
i. the Trust has been duly constituted, is valid and complies with all applicable laws;
ii. the Trust Deed has been executed and stamped, in accordance with the laws of the relevant State or Territory of Australia;
iii. the Client is the only Trustee of the Trust;
iv. the property of the Trust has not been resettled, set aside or transferred to any other trust or settlement and the Trust Deed has not been terminated and the date o a e e t fo the esti g of the T ust s property has not occurred;
KVB Kunlun Pty Ltd – Client Services Agreement April 2018
v. the Trust Deed specifically empowers and authorises dealings in financial products, and such dealings are ithi the autho ised a it of the T ust s i est e t strategy,
vi. all obligations under, and transactions contemplated by, these Terms & Conditions constitute binding obligations and are lawfully enforceable against the Trust and its property in accordance with their terms;
vii.it has an unrestricted right to be fully indemnified or e o e ated out of the T ust s p ope t i espe t of a losses or liabilities incurred by it in its dealings with KVB Ku lu , a d the T ust s p ope t is suffi ie t to satisf that right of indemnity or exoneration;
viii. it has complied with its obligations in connection with the Trust;
ix. the e is o o fli t of i te est o the Clie t s pa t in entering into these Terms & Conditions and performing its obligations under it or the transactions contemplated by it; and
x. if the Client is a superannuation fund, it complies with all requirements outlined in the Superannuation Industry (Supervision) Act (1993).
e) where the Client is an investment manager or a Responsible Entity, the investment management agreement or constitution specifically empowers and authorises dealings in the financial products, by the Client and on behalf of their underlying clients; and
xi. such dealings are within the authorised ambit of the/ea h u de l i g lie t s i est e t st ateg ;
xii.it will enter into transactions pursuant to the applicable investment management agreement as investment manager or Responsible Entity and not otherwise;
xiii.it will only deal in financial product transactions when the funds or other assets under its control are sufficient to meet the obligations which arise in connection with such dealing;
xiv. i the e e t of te i atio of the Clie t s appointment as investment manager or Responsible Entity of the Client, it is authorised to arrange for closing out of all contracts entered into on behalf of the Client prior to the date of such termination as soon as possible; and
xv. repeats each of these representations and warranties in relation to both itself and its underlying clients.
5.
A
CCOUNTE
STABLISHMENTa) KVB Kunlun agrees to establish an account in the name of the Client, who is the person named as the holder of the account.
b) Where the Client is more than one person, the account shall be established in their names as joint tenants unless they specifically advise otherwise (in which case it shall be established in their names as joint tenants). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable.
c) No o e e ept the Clie t has a i te est i the Clie t s
account with KVB Kunlun opened for the purposes of these Terms & Conditions.
6.
S
EGREGATEDA
CCOUNTSThe Client agrees and acknowledges that:
a) All money and property deposited by the Client with KVB Kunlun, or received by KVB Kunlun on behalf of the Clie t, shall e deposited to the Clie t s a ou t a d fo a credit balance and will initially be paid into a client segregated bank account established and maintained by KVB Kunlun and invested in accordance with applicable legal and regulatory requirements;
b) “u h seg egatio of the Clie t s o e a d p ope t does ot p ote t the Clie t s o e a d p ope t f o the risk of loss;
c) Whilst the Clie t s o e and property is segregated
f o KVB Ku lu s o e a d p ope t , it a e o
-mingled with the money and property of other KVB Kunlun clients. We do use client money for the purpose of meeting obligations incurred by us when hedging with other counterparties.
d)KVB Kunlun shall be entitled to retain any interest earned on such segregated money or property held or invested by KVB Kunlun;
e)If the Client does not provide KVB Kunlun with a tax file number or details of exemption, KVB Kunlun shall be legally obliged to deduct tax from interest payments at the highest marginal rate plus medicare levy;
f)KVB Kunlun may not use the funds in the client segregated a ou t to a age KVB Ku lu s deali gs ith its
counterparties with respect to client positions. Any obligations incurred by us in connection with such transactions are funded by us from our own money.
g) Financial product trades executed through KVB Kunlun are outed to KVB Ku lu s se i e p o ide , ho the fa ilitates execution and/or clearing on our behalf. Depending on the relevant jurisdiction or exchange, either KVB Kunlun or its service provider will be the registered owner of the i st u e t, ithi KVB Ku lu s lie t o i us a ou t.
h) Financial product trades executed through KVB Ku lu a e outed to KVB Ku lu s se i e p o ide , who then facilitates execution and/or clearing on our behalf. Depending on the relevant jurisdiction or exchange, either KVB Kunlun or its service provider will be the registered owner of the instrument, within KVB Ku lu s lie t o i us a ou t.
The value and dividends are then provided to clients by KVB Kunlun in accordance with their recorded, and continually reconciled, holdings.
However, if KVB Kunlun were to go into liquidation, and an administrator appointed, clients would be prima facie entitled to fair value for their recorded holdings, rather than holding such instruments in their name directly, thereby placing clients in the position of unsecured creditors with the administrators. However certain protections are afforded clients by the Australian Client Money rules.
The Australian Client Money Rules provide that in the e e t that KVB Ku lu loses it s AF“ Li e e, e o es insolvent, merges with another AFS Licensee or ceases to carry on some or all of the activities authorised by the AFS Licence, client money held by KVB Kunlun, and the investment of client, must be dealt with as follows:
If money in the trust accounts is held in trust for the persons entitled to it, and is payable in the order set out below:
1. If money in the trust accounts is invested, the investment is likewise held in trust for each person entitled to money in the trust account; and
2. Money in the trust accounts is paid in the following order:
a. money that has been paid into the trust accounts in error
b. payment to each person who is entitled to be paid money from the trust accounts.
3. If the money in the accounts is not sufficient to be paid in accordance with the above, the money in the accounts must be paid in proportion to the amount of ea h pe so s e title e ts; a d
4. If there is money remaining in the accounts after payments made in accordance with the above paragraphs, the remaining money is payable to KVB Kunlun.
i) KVB Kunlun enters into arrangements with third party execution and clearing providers for the facilitation of transactions and settlements, and avails monies received for margin calls and settlements to such providers for this purpose.
