CTBC Bank Co., Ltd., Hong Kong Branch For Individual Customers

Effective From: 2018.07.16

CTBC Bank Co., Ltd. (incorporated in Taiwan with limited liability)

-1-

CTBC Bank Co., Ltd.,

Hong Kong Branch For

Individual Customers

Account Opening Master Agreement

Version 11 201807


CTBC Bank Co., Ltd. (incorporated in Taiwan with limited liability) - 2 -

TABLE OF CONTENTS

TABLE OF CONTENTS ............................................................................................................................................................. 2

CHAPTER 1 MASTER TERMS AND CONDITIONS FOR VARIOUS TYPES OF ACCOUNTS AND SERVICES. 3

CHAPTER 2 TERMS AND CONDITIONS FOR VARIOUS BUSINESSES ................................................................. 15

CHAPTER 3 TERMS AND CONDITIONS FOR FINANCIAL TRANSACTIONS ....................................................... 28

CHAPTER 4 TERMS AND CONDITIONS FOR SECURITIES TRADING ............................................................. 43

ANNEXURE 1 ............................................................................................................................................................................ 53

ANNEXURE 2 ............................................................................................................................................................................ 60

ANNEXURE 3 ............................................................................................................................................................................ 64



CHAPTER 1 MASTER TERMS AND CONDITIONS FOR VARIOUS TYPES OF ACCOUNTS AND SERVICES

Any type of account opened and maintained and service provided at CTBC Bank Co., Ltd., Hong

Kong Branch (hereinafter referred to as the “Bank”) shall be governed by the terms of this

Agreement and be bound by all the terms as follows:

Article 1 Terms and conditions for account usage

I. The Customer authorises the Bank to deal with the following matters:

(I) to execute and deal with all instructions and / or orders in relation to the transfer, remittance,

withdrawal and / or payment of funds, and to charge for payment from the designated account

such funds, related handling fee and other related expenses; and

(II) to execute and / or deal with all instructions and / or orders in respect of the account and/or

arrange settlement of the same, provided that the above instructions and / or orders must be

(i) signed by the relevant account holder in accordance with the signature arrangement as

agreed and valid for the time being; or (ii) issued by other means or methods mutually agreed

by the Customer and the Bank. If there is any change to such terms, it must be agreed by

the Bank and the Customer.

II. Notwithstanding the provisions in Article 1 above, unless otherwise expressly agreed by the Bank,

instructions and / or orders for the transfer or payment of funds shall only be accepted by the Bank

under the following conditions: (a) when there is adequate amount of funds in the specific currency

in the designated account, and (b) such instructions and/or orders comply with each of the relevant

provisions of the Bank.

III All matters in relation to the account which are dealt with at the counters of the Bank must be

performed during the business hours prescribed by the Bank.

IV. The Bank is entitled not to execute any request, instruction or order for suspension of payment in

relation to a dishonoured cheque or other instrument without incurring any responsibility to the

Customer, unless such requests, instructions and / orders are issued in writing, signed by the

person authorized to sign in accordance with the signing arrangements with respect to the relevant

account for the time being and the Bank confirms receipt thereof. The Bank shall not have any

responsibility to make enquiry with the Customer in respect of the requests, instructions or orders

not issued according to the above provisions (hereinafter referred to as “Improper Dishonour

Instruction”). Notwithstanding the above provisions, if the Bank receives any Improper Dishonour

Instruction, it has the discretion (but not the responsibility ) in circumstances considered by it to be

appropriate, to decide not to pay any Improper Dishonour Instruction without first requiring

verification and / or signed confirmation from the Customer or its agent until the Bank receives the

notice in writing with valid signature instructing the Bank to honour the payment. The Bank will not

assume any liability to the Customer arising from such action for dishonouring payment by mistake

or other consequences.

Article 2 Collections

I. The Bank reserves its right to reject the deposit of any cheque, remittance order and / or other

instrument into an account. All items accepted for payment into an account are subject to final

clearance, that is, the Bank has confirmed the receipt of funds for such items which are freely

disposable and immediately available. Unless otherwise agreed by the Bank, such items shall not



be withdrawn before clearance. In addition, whether or not the Bank permits withdrawal before

final clearance, the Bank reserves its right to charge for payment from the relevant account for such

items which have been rejected for payment thereafter together with (i) relevant interest and (ii) any

fees and expenses.

II. All items accepted for deposit into an account and which are payable outside Hong Kong must be

bound by the following conditions: (i) the Uniform Rules for Collections (International Chamber of

Commerce Publication No. 522) and its amendment and / or its substitution. However, unless

otherwise requested by the Bank, the order to receive items in writing may be dispensed with; and

(ii) the laws in relation to the place of payment for the items and / or the practice of the Bank at such

location. Moreover, unless the Customer otherwise provides special instruction in writing, the

Bank will not deal with the certificate of dishonouring payment for such items.

III. The items to be deposited into an account must be of the same currency for that account.

IV. All items payable in Hong Kong will be deposited into the relevant account after normal clearing

time.

V. The Bank reserves its right to collect from the Customer any fees determined by the Bank in relation

to the acceptance of any items. Moreover, the Customer shall immediately compensate and repay

the Bank for all claims, undertakings and settlements, and reasonably incurred litigations costs and

expenses arising from any such items, upon the demand of the Bank.

VI. Without the endorsement of the payee, any cheque, remittance order and / or other instrument

accepted and deposited into the accounts whether such items are crossed “account payee only” or

“non-negotiable account payee only” shall be treated by the Bank as being authorized in case of a

joint account, to accept and deposit any such cheque or other instrument with any one or more

party(ies) comprising the Customer (but not all of them) as the payee into the account.

Article 3 Rules of the Hong Kong Associations of Banks

All accounts shall comply with and be bound by the rules of the Hong Kong Associations of Banks

as applicable to the Bank for the time being. In the event this Agreement contravenes with the

rules as aforesaid, appropriate changes and amendments will be considered to be effected

automatically to the former to enable the Bank to comply with such rules (including the provisions on

specific interest rate). Such amendments to enable the Bank to comply with such rules shall

forthwith become effective and irrevocably binding on the Customer after notice thereof has been

published by the Bank in any two newspapers circulating in Hong Kong.

Article 4 Hong Kong dollars cash transactions

Any Hong Kong dollars cash transactions between the Bank and the Customer, or between the

Bank and a third party will be calculated on a minimum basic unit, which is the smallest unit of the

legal tender for Hong Kong dollar for the time being. The balance of any amount smaller than such

unit will be rounded down to the nearest minimum basic unit. The payment or repayment of any

amount in Hong Kong dollar in cash by the Bank, the Customer or any party being rounded down

according to the method referred to above, will be treated as full discharge of the payment or

repayment obligation (including the amount not paid as a result of the round down). For the

avoidance of doubt, this Agreement shall not affect any transaction by cheque or payment or

repayment in cash not in Hong Kong dollars.



Article 5 Current account (or referred to as the checking account)

The following provisions are applicable to current account (or referred to as checking account):

I. Amounts can be drawn from the account by using cheques. Unless the Bank agrees otherwise,

cheques provided by the Bank must be used.

II. The Customer shall apply to the Bank for cheque book according to the procedures provided by the

Bank. The Bank is entitled to decide the format and contents of cheques and the quantity of

cheques issued to the Customer each time for use. The Bank may deliver cheque book to the

Customer in person or the party holding application for the collection of cheques, or deliver by post

to the Customer according to the address of the Customer recorded by the Bank. The Bank shall

follow the instruction of the Customer to deliver cheque book. The Bank shall not be responsible for

any delay, loss or wrong delivery of the same whatsoever unless caused by the negligence of the

Bank.

Article 6 Savings account

The following provisions are applicable to the savings account:

I. The savings account will be in the form of statement saving account, no withdrawals can be made

by way of cheques.

II. Upon payment or transfer of the amount as instructed by the party claiming the right to sign on the

withdrawal slip as the authorized signatory of the account or otherwise act in accordance with the

instructions of the authorized signatory, the Bank shall forthwith discharge its liability absolutely.

However, whenever the Bank considers necessary, it may (but the Bank does not have the

obligation to) request the party claiming the right to sign to draw the amount from the Bank in person

and produce identification documents to the satisfaction of the Bank.

III. The savings account can be denominated in a single specific currency or multiple currencies. The

Bank is entitled to decide at any time which currency may be deposited into the multiple currencies

saving account.

IV. Regarding the interest payable on the savings account:

(I) It will be determined according to the interest rate determined by the Bank at its absolute

discretion at any time as applicable to the same type of account of same currency and bears

interests on the balance of deposits in the account everyday. Notwithstanding items being

credited into the account, the amount shall only bears interest after cleared funds are

received by the Bank.

(II) Interests from deposits will be credited to the account once every six months or at other time

determined by the Bank at its absolute discretion from time to time. If the deposits in a

currency in the account are less than the minimum balance for such currency fixed by the

Bank, no interest will be payable. Such minimum balance may be changed from time to time

without prior notice. In the event any account is closed during an interest accrual period, its

interest will be accrued to the last day of the previous month or other date determined by the

Bank.



Article 7 Deposit account

The following provisions are applicable to various types of deposits (whether fixed deposits or call

deposits) and savings account:

I. The Bank reserves the absolute right whether or not to take any deposit. Any deposit accepted by

the Bank into any deposit account will be subject to and bound by the provisions of this Agreement

and the deposit receipts or other terms set out in other documents issued by the Bank for such type

of deposit. If there is any conflict between such documents, the latter shall prevail.

II. When the Bank takes deposits, it reserves the absolute right to credit immediately available funds in

the same currency of the deposits. Any deposit taken by the Bank from funds that are not

immediately available is subject to (i) confirmation of the Bank for receipt of cleared funds, (ii) the

cancellation of any relevant deposit by the Bank without notice if the cleared funds are not received

thereafter; (iii) save as agreed by the Bank, the relevant deposit (whether principal or interest) shall

not be drawn prior to the receipt of cleared fund; (iv) the Customer shall forthwith upon demand

settle any loss, expenses and reasonably incurred costs arising from the Bank’s non receipt of the

cleared funds.

III. Upon the drawing of any deposit, the Bank is entitled (but not obliged) to demand delivery of the

original deposit receipt/deposit confirmation for reference.

IV. Unless otherwise agreed by the Bank, the fixed deposit will only be withdrawn on or after the

maturity date. The call deposit will only be withdrawn after expiry of the relevant notice of

payment.

Article 8 Foreign currency account

The following provisions are applicable to various types of foreign currency accounts and foreign

currency deposits:

I. “Foreign currencies” refers to all other currencies other than the lawful currency of Hong Kong, and

includes the denomination of currency in Europe generally accepted in the international market and

other similar credit units.

II. Foreign currency account can be sub-divided into foreign currency telegraphic transfer account

(hereinafter referred to as the “TT account”) and foreign currency notes account (hereinafter

referred to as the “Notes account”). Unless expressly specified as a Notes account, all foreign

currency accounts are TT accounts. The Bank is entitled not to accept deposit of notes into the TT

account. If notes are to be accepted for deposit, it must be accepted according to the provisions of

the Bank with payment of the difference in exchange rate and / or other expenses.

III. When money is drawn from the foreign currency account, the Bank has absolute discretion to

decide the means of payment to the Customer in any one or more of the following forms:

(I) TT account - to deliver the amount withdrawn in the relevant currency by telegraphic transfer

to an account at a financial institution. The account shall be designated by the Customer

and agreed by the Bank. The Customer shall pay all related expenses as prescribed by the

Bank; and / or

(II) TT account – to issue a cheque or remittance order to the Customer with the amount



withdrawn in the relevant currency. The payee bank of such cheque or remittance order and

the location of payment shall be solely decided by the Bank; and / or

(III) Notes account - Under the circumstances that the Bank has adequate foreign currency notes,

the amount withdrawn in the relevant currency will be paid in the notes of such currency; and /

or

(IV) All foreign currency accounts - to convert the amounts withdrawn in the relevant currency into

an equivalent amount in Hong Kong dollar according to the exchange rate of such currency

published by the Bank at the time of withdrawal. The amount in TT account shall be

converted according to the telegraphic transfer bid rate. The amount in Notes account shall

be converted according to the note exchange bid rate.

IV. In the course of opening foreign currency accounts, the Bank is entitled to make selections for the

Customer and reserves the right to open accounts in any currencies acceptable to the Bank or in

the course of handling account deposits, the Bank is entitled to, after obtaining Customer ’s consent,

open accounts and make entries in the original currency of denomination remitted to or deposited

with the Bank by the Customer. In case such original currency is not a currency acceptable to the

Bank, the Bank shall have the right to refuse to deposit such currency into the remitted account. If it

is acceptable to the Bank to deposit such currency, the Customer shall be responsible for any

interest, difference in currency conversion and/or other charges stipulated by the Bank.

Article 9 Joint account

An account which is opened and maintained by two or more persons constituting the Customer:-

I. The Customer shall be jointly and severally liable for all liabilities due to the Bank under such type of

account. The term “Customer” refers to any or all such persons and shall be construed accordingly

in this Agreement.

II. The current and deposit accounts opened jointly by the persons constituting the Customer and

accounts of any nature to be jointly opened by such persons (including but not limited to savings

and fixed/call deposit) shall follow the instructions of any one or more persons constituting the

Customer from time to time.

III. The cheques, remittance accommodation or evidence of payment issued from such joint account or

receipts for overdraft at the Bank, or the statements of deposits in respect of the persons

constituting the Customer in joint name, or any other documents or instructions in writing shall be

payable for the Customer by the Bank. The Bank shall also deal with all matters related to such

joint account according to the instructions of the Customer, such instruction may be arising from one

of the following circumstances:

(I) The transfer of money to a personal account of any one of the persons constituting the

Customer.

(II) The cheques issued and signed by any one of the persons constituting the Customer and

payable to himself.

IV. In the meantime, accept the request of the Customer to deliver any securities, deeds or all other

properties jointly held at the Bank to any person specified by the Customer.



V. The deposit of all cheques, payment authorization and bills with any one or more persons

constituting the Customer as the payee into the joint account of the Customer, whether such

document is crossed “Account Payee” or “Account Payee only”.

VI. All monies received by the Bank for the persons constituting the Customer individually or jointly,

including interest and dividends will be deposited into the joint account of the Customer, whether

such document is crossed “Account Payee” or “Account Payee only”.

VII. Any performance of obligations by the Bank to any one of the Customer shall be deemed to have

fully discharged its obligations towards the Customer under this Agreement.

VIII. The Customer is abide by this Agreement, notwithstanding:-

(I) any one of the Customer intended to be bound is not bound.

(II) any provision of this Agreement becomes invalid or unenforceable against any one or more of

the Customer (whether or not it is made known to the Bank).

IX. The Bank shall be entitled to deal separately with any one or more of the Customer on any matter

without prejudicing or affecting the Bank’s rights and remedies against any such other of the Customer.

X. Any notice issued by the Bank under this Agreement to any one of the Customer shall be deemed to

have been duly and validly issued to all of the Customer

XI. Unless there is any right or objection claimed by any court or institution in Hong Kong or other

applicable jurisdictions, the deposits in each of the joint accounts, and any securities, deeds and all

other properties held at the Bank jointly by the persons constituting the Customer shall be deemed

as owned by all survivors or the only survivor of the persons constituting the Customer. However,

any right of the Bank in respect of lien, pledge, set-off, counter-claim or any other right over such

deposits or securities will not be affected. At the same time, whenever the Bank considers

appropriate, it has absolute discretion to take any procedure or legal action necessary as a result of

the claim from any party apart from all survivors or the only survivor of the Customer.

XII. The application, redemption or conversion of investment products by the Customer under the joint

account shall mean that the holders of the joint account agree that the principal account holder shall

become the owner of such investment product, and to treat the related transactions accordingly.

The persons constituting the Customer also agree that without written authorization by all of them to

act otherwise, the specimen signature of the principal account holder will only be applied in dealing

with investment products related operations even if two or more sets of specimen signatures are

required for the account. All other joint account holders shall open separate individual accounts for

the purpose of purchasing investment products. However, this is not intended to extend the

authority of the specimen signature with respect to the principal account holder. Therefore, apart

from the application, redemption or conversion of investment products, all other businesses with the

Bank will still be dealt in accordance with the arrangement as provided in the original signature card.

Article 10 Fixed deposit

I. The Bank shall only provide and accept any fixed deposits whose currency(ies) are maintained by

the Bank in accordance with the minimum deposit amount, interest rate and deposit period

announced by the Bank from time to time. The Bank will provide the relevant deposit information

notice (including but not limited to deposit receipt / deposit confirmation and monthly statement, etc.)

to the Customer upon completion of the relevant deposit.



II. Unless otherwise processed in accordance with an agreed interest rate or any prior mutual

agreement between the Customer and the Bank, fixed deposits shall be handled at maturity

according to the terms and conditions originally agreed at the time of deposit and the interest rate of

automatic rollover of the same kind of deposit on that day. In the case of rollover of fixed deposit of a

different period upon maturity, the Customer is required to apply for each rollover and will be subject

to the rollover interest rate of the same deposit period on the relevant rollover date. If the deposit is

processed with an agreed interest rate or agreed that there shall not be any automatic rollover of

deposit upon maturity, proceeds of fixed deposits will be deposited into a savings account in the

same currency maintained by the Customer with the Bank.

III. The Customer shall notify the Bank of any changes to the handling of a fixed deposit in a manner

acceptable to the Bank and shall only be effective upon receipt of confirmation from the Bank. Such

changes shall be delivered to the Bank at least 1 business day before the maturity of the fixed

deposit.

IV. Any fixed deposits maintained with the Bank shall not be assigned or transferred to any other

person.

V. If the interest rate applicable to the Customer is an agreed rate or a rate above the fixed deposit rate,

such interest rate shall only apply to the fixed deposit of that period. The Customer shall not be

entitled to have the deposit rollover automatically. Proceeds of such fixed deposit will be deposited

into a savings account of the Customer upon maturity and the fixed deposit will be terminated.

VI. Prior consent of the Bank must be obtained if any part of the fixed deposit be early withdrawn and it

shall follow the terms and conditions determined by the Bank as conclusive from time to time.

Please note that early withdrawal of any part of the fixed deposit may give rise to economic

consideration and loss.

Article 11 Responsibilities of the Customer in respect of cheque and deposit confirmations

The Customer shall be responsible for: (a) safe keeping all blank cheques and deposit

confirmations; and (b) immediately inform the Bank in writing when the above documents are found

lost and / or stolen. If any of the above documents are found lost and / or stolen, prior to the actual

receipt of the notice in writing by the Bank, the Bank will not assume any liability to the Customer

arising from any improper and / or unauthorized withdrawal in the relevant account due to forgery or

other reasons.

Article 12 Responsibilities of the Customer in respect of account statements

I. The Customer shall review and verify each and every account statement issued by the Bank. In

the event of any error, improper and/or unauthorised debit transaction, the Customer shall forthwith

notify the Bank in writing. Unless the Bank confirms the receipt of such notice within 90 days after

the relevant account statement is issued, the Customer shall be deemed to have irrevocably

confirmed and accepted all debit transactions listed therein, and shall not have any further right to

raise any claim or dispute on the basis of forgery, misconduct, unauthorisation, improper action,

omission, mistake and / or any other reason in future in respect of such transactions.

II. With respect to the current account, statement savings account and any other accounts that are

issued with a monthly statement by the Bank, if there is no transaction for the relevant account in



any month, the Bank is entitled not to issue the account statement for that period to the Customer.

Article 13 The rights in aggregating and setting off of accounts for the Bank

In addition to other rights conferred by law, the Bank does not have to give any notice to the

Customer in advance, and is entitled to apply the deposits in any account of the Customer with the

Bank towards payment of any outstanding debts/obligations due to the Bank (whether the Bank or

any branch and sub-branch under the head office of the Bank) by the Customer. For such purpose,

the Bank is also entitled to convert any deposit in such accounts by the exchange rate solely

decided by the Bank into the currency of the debts/obligations.

Article 14 The rights to rectify accounts and records by the Bank when mistakes are discovered

Notwithstanding any provision to the contrary, whether expressed or implied, the Bank retains its

absolute right upon the discovery of the following in relation to any account and / or other

transactions (a) any erroneous credit; and / or (b) any omission in credit and / or deficiency in

payment; and / or (c) any mistakes in calculation, the Bank may rectify account books and records

from time to time (whether before or after the issue of account statement of the relevant account),

and to post the correct amount (whether credit or debit) into the relevant account statement. Such

right of the Bank shall not have any effect on the liabilities borne by and binding on the Customer

pursuant to Article 11 of Chapter 1 of this Agreement.

Article 15 Closing and / or suspension of account by the Bank

I. The Bank is entitled to issue a notice in writing to the Customer to request the closing of any

account within a reasonable period of time determined by the Bank. After expiry of the notice period,

such account will be closed, and the Bank is entitled to transfer any deposit in such account to a

suspense account with no interest pending withdrawal by the Customer.

II. Under the following circumstances, the Bank is entitled to forthwith suspend the operation of any

account in the Bank for an appropriate period considered necessary by the Bank without any prior

notice to or obtaining consent from the Customer (including, but not limited to, suspension in the

receipt of payment) and does not have to assume any liability to the Customer: (i) the Bank

considers there has been improper usage of the relevant account; and / or (ii) there is inconsistency

in the instructions received by the Bank for such account; and / or (iii) any notice of change of

signing arrangement in respect of the relevant account is not acceptable to the Bank; and / or (iv)

the Bank receives claims from third party(ies) for the amount in the relevant account or any portion

thereof.

Article 16 Dormant Account

In the event that the account of the account Holder is inactive or dormant for 12 consecutive

years, the Bank may unilaterally categorize such an account as a dormant account. Upon the

customer’s account is dormant, no transaction can be made via automatic equipment

including Internet banking service. The customer can apply for re-activation of dormant

account through the bank’s customer service representative.

Article 17 Interests on unauthorized overdraft in the account



The Customer shall forthwith repay the amount overdrawn from the account that is not authorized or

that has exceeded the agreed limit. Such overdrawn amount shall accrue interest from the date it

is overdrawn until the date of repayment according to the actual days elapsed, and will accrue

interest in a similar manner before and after judgment being awarded by the court according to the

best lending rate published by the Bank at its absolute discretion from time to time plus the

designated interest rate applicable in any fee list published by the Bank from time to time (if there is

no such designated interest rate in the fee list, then 4.25% p.a. will be added) or the overnight

inter-bank lending interest rate published from time to time, whichever is higher. The Bank is entitled

to give the Customer 30 days’ advance notice to change the basis for calculation of the relevant

interest rate. Any interest accrued and unpaid will also be subject to the same interest rate. The

Bank may also debit such interest from the relevant account or charge the interest monthly on a

compound basis.

Article 18 Treatment of original/copy instrument

Any cheque, remittance order, accommodation, payment order and / or any other documents, in

originals or copies, shall be destroyed at the discretion of the Bank after being microfilmed or

recorded and processed in other manners.

Article 19 Handling fees and expenses

Upon banking services being provided to the Customer, the Customer agrees to pay handling fees,

service charges and other costs in accordance with the schedule of fees to be determined by the

Bank and the Bank is hereby authorized to debit such fees and charges automatically from the

relevant account of the Customer. In the event of any variation to the fees and charges of the Bank

after commencement of this Agreement, the Bank shall, 30 days prior to such variation, publish

such variation on the Bank’s website or in any other way the Bank considers appropriate. The Bank

shall further notify the Customer that he/she is deemed to accept such variation if no objection or

notice of termination is received from the Customer during the 30-day period.

Article 20 Notices and communications

I. All notices, account statements, letters and other documents of the relevant account delivered by

the Bank to any address of the Customer maintained in the record of the Bank will be deemed as

completed valid delivery or notice.

II. If there is any change in the residential or correspondence address of the Customer, the Customer

shall forthwith notify the Bank in writing and agree that the new address shall be the address for

delivery of notices. If the Customer fails to give written or other agreed forms of notice of change

in address, the Bank shall continue to use the specified address at the relevant time of contract or

last notified address as the address for delivery of notices. All notices issued by the Bank shall be

deemed to have been delivered in the normal course of posting.

III. All notices, letters and / or other documents given by the Customer to the Bank shall be directly

delivered to the Bank to ensure its effectiveness and prompt receipt by the Bank.

IV. If the Customer comprises two or more persons, any correspondence sent to the principal account

holder agreed and confirmed by all joint account holders shall be deemed to have delivered to the



other account holders.

Article 21 Amendment to this Agreement

I The Bank is entitled to add, delete and / or amend this Agreement and the current rules and

regulations of the Bank. Such addition, deletion and / or amendment shall be deemed as effective

notice after it is published in the banking hall or website of the Bank or given by other means

considered to be appropriate by the Bank. If the Customer maintains its account 30 days after

such notice is published, he will be deemed to have accepted such addition, deletion and / or

amendment which will have absolute binding and immediate contractual effect on the Customer.

II. If there is any conflict between contents of the regulations of the Bank (including additions, deletions

and/or amendments) and this Agreement, the latter shall prevail.

Article 22 Customer Responsibility for Disclosure of Interest

I. The Customer understands that he may be subject to statutory obligations under the laws of Hong

Kong or any other applicable jurisdictions to disclose certain shareholding including corporate and

family interests. Other disclosure obligations may arise under legislation of other jurisdictions, or the

rules and regulations of a market, or codes relating to shares repurchases, take-overs and mergers.

II. The provision of this Article 22 shall continue in effect notwithstanding the termination of this

Agreement.

Article 23 Personal Data (Privacy) Ordinance

I. Personal data held by the Bank relating to the Customer, the Customer’s agent(s) or Customer’s

guarantor(s)(if any) may be used for the purposes of the maintenance and operation of the Account

in accordance with the relevant agreement(s), distribution of research, enforcement against

counter-party, risk assessment, compliance with regulatory requirements to know the Customer and

to carry out due diligence to assess the Customer’s investment suitability and for any other directly

related purposes and will be kept confidential, but the Bank may provide such information to:-

(I) any other branch or office of the Bank;

(II) any affiliates or holding company of the Bank;

(III) any agent, contractor, other service provider or other person (including any custodian bank or

credit agency) who provides administrative, telecommunications, computer or other facilities

or services to the Bank in connection with the operation of the Bank’s business or the

operation of the Account notwithstanding that such agent, contractor, service provider or

person may be outside Hong Kong who may not be subject to the Personal Data (Privacy)

Ordinance;

(IV) any person who owes a duty of confidentiality to the Bank and has undertaken to keep such

information confidential;

(V) any financial institutions with which the Customer has or proposes to have dealings;

(VI) any actual or proposed assignee of the Bank or participant or sub-participant or transferee of



the Bank’s rights in respect of the Customer; and

(VII) complying with the obligations, requirements or arrangements for disclosing and using data

that apply to the Bank or any of its branches or that it is expected to comply according to:

(I) any law binding or applying to it within or outside the Hong Kong existing currently and in the

future;

(II) any guidelines or guidance given or issued by any legal, regulatory, governmental, tax, law

enforcement or other authorities, or self-regulatory or industry bodies or associations of

financial services providers within or outside the Hong Kong existing currently and in the

future;

(III) any present or future contractual or other commitment with local or foreign legal, regulatory,

governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies

or associations of financial services providers that is assumed by or imposed on the Bank or

any of its branches by reason of its financial, commercial, business or other interests or

activities in or related to the jurisdiction of the relevant local or foreign legal, regulatory,

governmental, tax, law enforcement or other authority, or self-regulatory or industry bodies

or associations; and

(VIII) complying with any obligations, requirements, policies, procedures, measures or

arrangements for sharing data and information within the group of the Bank and/or any other

use of data and information in accordance with any group-wide programmes for compliance

with sanctions or prevention or detection of money laundering, terrorist financing or other

unlawful activities.

(IX) Complying with the US Foreign Account Tax Compliance Act (or hereafter the “FATCA”) to

identify US tax residents and report account information to the Authority (including Internal

Revenue Service) or financial supervisory institute.

II. The Customer acknowledges that before providing personal data to the Bank, the Customer has

been provided with, and invited to read and ask questions, and seek advice on, the Circular to

Customers relating to the Personal Data (Privacy) Ordinance attached as Annexure 2.

III. The Customer hereby agrees that the Bank may transfer personal data (including to a place outside

Hong Kong) in certain circumstances as specified in Article 22.1.

IV. The Customer understands that the Customer has the right pursuant to the Personal Data (Privacy)

Ordinance to require the Bank to access and/or correct the Customer’s personal data held by the

Bank. The Bank is entitled to impose a reasonable charge for processing such requests. Such

request should be made in writing and the person to whom requests for access to, or correction of,

data, or for information regarding policies and practices and kinds of data held, should be

addressed to the Legal Officer of CTBC Bank Co., Ltd., Hong Kong Branch at 28th Floor, Two

International Finance Centre, 8 Finance Street, Central, Hong Kong.

V. The Customer authorizes the Bank to conduct from time to time such credit reporting agencies,

credit bureaus and other information sources (both in Hong Kong and overseas) as it deems

necessary or desirable for the Bank to open and to maintain the Account and request them to

conduct a credit enquiry or check on the Customer for the purposes of ascertaining the Customer’s

financial situation and investment objectives.



Article 24 Governing laws, jurisdiction and other term

I. This Agreement is governed by the laws of Hong Kong. The Customer agrees to accept the

non-exclusive jurisdiction for any dispute in the courts of Hong Kong. However, this will not affect

the right of the Bank to bring proceedings in any court exercising jurisdiction.

II. Certain countries may prohibit or restrict the provision of various services under this Agreement.

The Customer has the duty to understand and comply with such restrictions. If the local law

prohibits the provision of one or more services under this Agreement to persons residing in such

countries (or regions), the Bank will not provide such services and will not be responsible for the

consequence arising from any acts or service operated from such countries (or regions).

III. Any matter not detailed in this Agreement shall be dealt with according to the usual operation and

practices of the Bank as provided in the regulations of the Bank, or supplemented or amended in

writing as agreed by both parties. If any term under this Agreement is inconsistent with the terms

of Internet banking services of the Bank, this Agreement shall prevail.

IV. The Customer agrees to pay to the Bank all reasonable expenses and fees determined for various

businesses according to this Agreement. The Bank is entitled to apply or transfer any credit balance

in any account of the Customer without notice to the Customer or obtaining consent from the

Customer, so as to repay any debt or obligation of the Customer arising from the service under this

Agreement in this application.

V. Any term under this Agreement are independent and severable. If any individual term is judged as

ineffective or not enforceable at any time, the effect, legal status and enforceability of the remaining

terms are not affected or hampered.

VI. The Customer agrees that if the Bank fails to or delays in the exercise of any right under this

Agreement, it will not be deemed as waiving the relevant rights. Single or partial exercise of the

relevant right does not exclude further or repeated exercise of the relevant rights.

VII. No person other than the Bank and the Customer shall have any right under the Contracts (Rights

of Third Parties) Ordinance (Cap.623) to enforce or enjoy the benefit of any of the provisions of this

Agreement.

Article 24 Language

This Agreement is prepared in both the Chinese and English languages. In the event of any

inconsistency between the two languages, the English language shall prevail.



CHAPTER 2 TERMS AND CONDITIONS FOR VARIOUS BUSINESSES

Unless otherwise expressly stated, the various services stipulated under this Agreement and any

subsequent additional service are subject to the following general terms and conditions.

Article 1 Definitions

I. “Bank” shall mean CTBC Bank Co., Ltd., Hong Kong Branch, where applicable includes the

successor and the assignee of the Bank;

II. “Customer” shall mean any person who agrees to the terms and conditions of the agreement and

use his or her name in account opening, where applicable includes the administrator or legal

successor of the Customer;

III. “Person” shall include individual, sole proprietorship, partnership, corporation (whether

incorporated or not) and unincorporated associations;

IV. “Identification” shall mean e-certificate, the information data signed by the certification authority in

digital signatures so as to confirm the identity of the applicant and to prove that the applicant has a

pair of corresponding public key and digital private key;

V. “Account” shall mean the account opened by the Customer with the Bank, which is agreed in

writing by the Customer and the Bank or authorized by the holder of the deposit account as the

Customer to enter into this Agreement for the performance of transfer instructions, account

enquiry or other transaction in writing through the Internet banking service provided that the Bank

may elect to cancel or suspend the provision of Internet banking service to such designated

account;

VI. “Instruction” shall mean the instruction provided to the Bank by the Customer in accordance with

this Agreement through Internet banking services or the verbal, written, facsimile, imaged file or

cable instructions to be delivered or transmitted to the Bank provided that each instruction must

comply with the conditions and restrictions designated for each transaction by the Bank from time

to time;

VII. “Transaction” shall mean a transaction to be completed by the Bank according to or on the basis

of an Instruction;

VIII. “Website” shall mean the website designated by the Bank for the provision of Internet banking

services and related information;

IX. “Information” shall mean the financial, market or other information and data provided by any

information provider (the term shall include the parties that provide any information to such

information provider) and published by the Bank through the Website and the preparation of

report in any form, media or method with the information provided;

X. “Application’ shall mean all related application forms designated by CTBC Bank Co,, Ltd., Hong

Kong Branch for the application of Internet banking service;

XI. “Electronic data” shall mean the data transmitted by the Bank or the Customer through computer

and Internet connections;



XII. “Digital Signature” shall mean the digital signature. Unless otherwise provided by law, the term

shall mean the electronic identification or symbols that are attached with the electronic data

transmitted between the Bank and the Customer and endorsed by both parties as the signature of

the principal, so as to confirm the identity of the sender;

XIII. “Code” shall mean the personal identification code of the Party and the password given by the

Bank to the Customer (or the password re-selected by the Customer) for the purpose of user

identification in the use of Internet banking service and / or other forms of identification accepted

by the Bank;

XIV. “Private Key” shall mean the digital information held by the producer of signature through a pair of

digital information with correlation. Such digital information shall be used for electronic

communication decryption and the production of digital signatures;

XV. “Public Key” shall mean the digital information used to match with the electronic communication

encrypted through a pair of digital information with correlation or to verify the identity of the signing

party and the authenticity of the digital signature;

XVI. “Certification Authority” shall mean the dispatch, revocation and use of certificate, that is the

e-certificate, which is endorsed and accepted by the public database through a steady and

reliable system pursuant to public key infrastructure as provided in the Electronic Transaction

Ordinance (Cap. 553) (hereinafter referred to as the “Public Key Infrastructure”) for proper identity

identification on the Internet;

XVII. “Service Hours” shall mean the business hours of the Bank, which is 9:00a.m. to 4:00p.m.

between Mondays and Fridays, except the dates when the Bank is not open for business, but

excluding the business not restricted by the business hours of the Bank, for which the Bank may

provide extended or 24 hours service as agreed or published from time to time. In addition, unless

otherwise decided by the Bank, Saturdays, Sundays, public holidays in Hong Kong or periods

where typhoon signal No. 8 or above or black rainstorm signal is hoisted are not office hour of the

Bank;

XVIII. “Information Provider” shall mean the parties providing the information, and the term includes all

parties that provide any information to the Information Provider; and

XIX. “Internet banking service” shall mean the services or facilities provided or to be provided by the

Bank to the Customer from time to time through the Bank and / or other service providers as

designated, so that the Customer may issue Instruction to the Bank and liaise with the Bank

through electronic or telecommunication media, including the use of interactive television,

computer, machine, terminal or other electronic or telecommunication equipment, including but

not limited to Internet, mobile phone or intranet, so as to transfer, withdraw, place deposit or

remittance (including complete remittance service), creation and termination of term deposits,

conversion of foreign exchange, trading and investment of securities (including bills, bonds and

financial products), application and amendment of letter of credit, enquiry of deposit / lending

account, remittance enquiry, import and export business enquiry, or enquiries of other

transactions and other business of the Bank.

Article 2 Termination and notices of these terms and conditions

These terms and conditions will become effective from the date of signing of this Agreement. In the



event any party wishes to terminate this Agreement, such party shall give a notice in writing to the

other party one month before the expiry of this Agreement. If any one of the following matters

occurs in respect of the Customer, the Bank may give a notice in writing to the Customer at any time

to terminate this Agreement:

I. The Customer assigns its rights or obligations under this Agreement to a third party without the

consent of the Bank.

II. The Customer is declared bankrupt or under a scheme of arrangement by the court, or the

Customer declares bankrupt, applies for liquidation or dissolution or is subject to a scheme of

arrangement either voluntarily or through other parties.

III. The Customer has breached these terms and conditions, and does not remedy the breach upon

demand or before the time prescribed for such purpose.

IV. The Customer has breached any applicable laws or other relevant regulations; or the account is

applied for (or suspected to be applied for) illegal purposes.

V. The Customer has breached the relevant provisions of the Certification Authority.

VI. Other circumstances considered reasonable by the Bank to terminate this Agreement.

Article 3 Terms and conditions of Internet Banking Service

I. With respect to the Internet banking service provided by the Bank, unless otherwise agreed in this

Agreement, the Customer hereby agrees to comply with the relevant terms and accepts the

liabilities arising thereto.

II. The Customer applies to the staff of the Bank for the use of Internet banking service (hereinafter

referred to as “Internet banking service” or “Service”) by personal identification documents and

original signatures or the signature left at the Bank in person by the Customer (when the Customer

opens the account, which may be in the form of seal or signature by hand or both), or the Customer

has to apply by post and obtain the password letter. However, the Customer may appoint or

authorize any third party to obtain the password letter in writing under special circumstances when

personal collection cannot be made provided that the Bank will not be involved in any dispute

arising from the appointment or authorization of any third party.

III. The initial Internet banking password letter obtained from the application by the Customer (including

user code and Internet banking password) shall lapse if the password changes and activation

procedures are not completed within the Bank’s designated period. In addition, when the Customer

logons the Internet banking service for the first time, the Customer should input the initial Internet

banking password at the designated website of the Bank. After confirmation for accuracy, the

Customer shall reset the user code and Internet banking password which serve as the basis of

identification confirmation for various Internet banking services to be used by the Customer in

future.

IV. Upon obtaining the relevant consent of the Bank, the Customer can utilize all the functions of the

internet banking service and other services to be launched subsequently.

V. If the Customer forgets the password, the Customer should terminate the Internet banking service



with the Bank. If the Customer wishes to continue to use such service, the Customer shall have to

apply again. Further, the Bank may suspend the use of the Internet banking service at any time if

the Bank considers that the Customer is conducting improper transactions involving his/her

accounts, or if the Internet banking service appears to be used by other Persons illegally. The Bank

will forthwith notify the Customer by phone or give a notice in writing to the Customer upon

suspension of the Internet banking service.

VI. If the Customer repeatedly inputs the wrong password more than the maximum number of times

allowed, or upon the closing of the account, the Bank will automatically terminate the Internet

banking service. If the Customer intends to resume the use of the Internet banking service, the

Customer shall apply to the Bank again.

VII. If the Customer hasn’t logged in to the Internet Banking for 12 consecutive years online fund

transfers by way of Internet Banking to unregistered third-party account will be set to zero

compulsorily. The Customer shall apply for resetting the transaction if Customer intends to.

VIII. Receipt and response of electronic communication

If the Bank receives any electronic communication from the Customer but cannot identify its

content, it will be deemed as not being transmitted. However, when the identification of the

Customer is verified, the Bank shall notify the Customer of the fact that the content cannot be

identified. After the Bank receives the electronic communication with the digital signature, the

Bank will verify the digital signature and inform the Customer about the verification or

processing results. If the electronic communication transmitted by the Customer is not the

electronic communication that has to be processed immediately on the date of transmission,

the Customer agrees that such electronic communication can be dealt with in the

circumstances as agreed with the Bank at the time of the transmission.

IX. Non-execution of electronic communication

If any of the following events occurs, the Bank should not execute any electronic

communication received:

(I) The Bank has reasonable doubt about the truth of the electronic communication or the

accuracy of the fact as designated.

(II) The processing of electronic communication by the Bank will breach the provisions of

relevant laws and orders.

(III) The Customer has not paid the related expenses.

(IV) The Bank has to terminate these terms and conditions with the Customer according to

one of the situations under Article 2 of Chapter 2.

(V) When the Bank does not execute the electronic communication, the Bank shall inform

the consequence of non-execution to the Customer. The Customer shall confirm

with the Bank by phone after receiving the notice.

X. Cut-off time for the exchange of electronic communication

The electronic communication is automatically processed by the computer of the Bank. The



transmission of electronic communication from the Customer to the Bank cannot be withdrawn,

revoked or revised. If the electronic communication is transmitted through the Internet to the

Bank, but the transaction cannot be completed on the same day due to timing difference with

the business hours of the Bank or limits on cross-border transactions or other force majeure

events, the transaction will not be processed as agreed or will be postponed to the following

business day. If the Bank fails to provide such service due to special circumstances such as

usual maintenance, the Bank has to publish an announcement on its Website seven calendar

days in advance.

XI. Error in processing electronic communication

The Customer uses the Internet banking service under the conditions that the Bank will not

assume any liability to rectify any error in the electronic communication unless caused by the

Bank. Nevertheless, the Bank agrees to provide necessary assistance. In the event the error

in electronic communication is caused by the Bank, the Bank shall be responsible to rectify the

same.

XII. Effect of the electronic communication

The Customer and the Bank agree to exchange electronic communication according to these

terms and conditions, the effect of which is the same as documents in writing. The Customer

and the Bank shall not claim that the electronic communication is void or invalid as it is not in

written form or signed in case of any dispute, trial, arbitration, mediation or other legal

proceedings arising thereafter. During such trial, arbitration, mediation or other legal

proceedings, the Customer and the Bank agree that evidence of the relevant information can

be derived from the record of the Bank, for which the Bank cannot object to provide.

XIII. Internet connection of the Customer and liabilities arising therefrom

(I) The Customer agrees to use the proprietary network of the Bank or the related

network of each party to transmit electronic communication. In the event the related

network of each party is used, each party shall enter into service terms with such

Internet service provider specifying the rights and obligations of such party, and to

bear the fees in the use of the network. The Customer shall install the computer

software and hardware as well as other security related equipment when applying for

the service items under these terms and conditions. The costs and risks of the

installation shall be solely borne by the Customer. Where the Customer has

specifically agreed with the Bank, the Customer can only establish the connection

after going through the tests essential to the Bank and obtaining the consent of the

Bank.

(II) The Customer shall keep in proper custody the user code, password, e-Certificate

identification code, the Private Key, e-Certificate issued by the Certification Authority,

software and hardware as well as related document provided by the Bank. The loss

incurred by unauthorised use or forgery of the above arising from improper custody

will be borne by the Customer. The Bank will not assume any liability for

compensation.

(III) The software and hardware equipment above-mentioned as well as related

documents are provided by the Bank. The Customer agrees to use the same within

the scope of Internet banking service and shall not transfer, lend or deliver to any third

party in any manner. If as a result of the act of the Customer the intellectual property



rights or other rights of the Bank or any third party is violated, or there is damage

arising from the improper use, the Customer shall assume the liability. The Customer

shall return all the equipment and related documents at the expiration of these terms

and conditions. If the Customer needs to install other software for computer operation,

which must be used simultaneously with the software and hardware provided by the

Bank, the Customer shall comply with the installation information provided by the

Bank, and assume sole responsibility for the costs and risks provided that the

software and hardware of the Bank will not be adversely affected.

XIV. Expenses

The Customer shall comply with the standard service charges and other fees prescribed by

the Bank from the date the services are used, and authorize the Bank to debit automatically

from the account of the Customer according to the participation rules and business practices

of cross industry financial information system. All fees payable by the Customer to the Bank

shall be free of any tax. If any tax is payable, the Customer shall pay the same separately and

authorize the Bank to debit automatically from its account.

XV. Authorization and protection

(I) The Customer agrees to ensure that the electronic communication transmitted to the

Bank is authorized legally.

(II) Both parties agree that if it is discovered that any third party illegally or invalidly uses

the user code, password, e-Certificate identification number and Private Key, or any

other invalid authorization, such party shall forthwith inform the other party by phone

or by notice in writing to suspend the use of such service, and to adopt prevention

measures. Prior to the acceptance of the notice, the Bank shall not assume any

responsibility arising from the use of such service by any third party, unless the

absence of knowledge of the electronic communication being illegal or invalidly

authorized is caused by the wilful default or gross negligence of the Bank.

XVI. Information security

Both parties shall ensure the security of electronic communication, and prevent illegal logon

to the system, hacking, tampering or destruction of business records and information. The

risks of loss arising from the wilful default or gross negligence of the Bank causing the

decryption of user code or password by any third party into the system (hacking act) will be

assumed by the Bank.

XVII. Confidentiality obligations

Both parties shall ensure that the electronic communication exchanged by both parties or the

information of one party obtained by the other party in the use or execution of these terms and

conditions will not be released to any third party, and will not be used in purposes not related

to these terms and conditions. In addition, when such party agrees to inform the third party

about such information, such party shall assume the confidentiality obligations on behalf of

the third party under this article provided that such obligation does not apply to the following

circumstances:

(I) The information is disclosed pursuant to the laws and regulations of Hong Kong or

overseas jurisdiction, orders or letters of competent authorities or judicial authorities



in Hong Kong or other jurisdictions having supervision authority or jurisdiction over

the Bank or the services provided by the Bank under this Agreement. The recipient of

information shall inform the party whose information has been disclosed (the

“disclosing party”) within a reasonable time after disclosure to the government or the

court (provided that it is permitted by law and is practicable in the circumstances and

that the recipient and its agents, employees, nominees and users will not incur any

civil and criminal liabilities).

(II) The information is independently developed and completed by the recipient.

(III) The information becoming part of the public domain not as a result of breach of these

terms and conditions.

(IV) The information being held by the recipient before such information is obtained by the

disclosing party.

(V) The information being obtained legally by the recipient from any third party.

(VI) The information is to be disclosed by the recipient with the consent in writing of the

disclosing party.

(VII) The information being disclosed for litigation, arbitration or other legal proceedings.

XVIII. Liabilities for Indemnities

Both parties agree that if there is any delay, omission, error in transmission and receipt of

information attributable to one party upon the transmission or receipt of electronic

communication pursuant to these terms and conditions, which has caused damages to the

other party, the first party shall be liable to indemnify the direct damage (not including loss of

profits) with interest. The amount of the indemnity shall be the lower of the following:

(I) The amount of loss, injury or damage.

(II) If such loss, injury or damage is capable of remedy, the amount payable for such

remedial actions.

If any delay, omission, error in transmission and receipt of information referred to in Item (I)

above arises directly or indirectly from the inaccessibility, breakdown or malfunction of the

computer and related equipment, telephone lines, telecommunication equipment and network

of either party, or the act or omission of any third party, which is beyond the reasonable

control of either party, then neither party shall be liable.

XIX. Force majeure

In the event of the occurrence of force majeure events, the non-performance or delay in the

performance of obligations arising from these terms and conditions by both parties will not be

considered as breach of contract, and neither party has to assume any liabilities for

indemnities.

XX. Maintenance of records

The Customer shall maintain the records of electronic communication for all trading



instructions, and shall ensure accuracy and completeness of such records. If the Customer

does not maintain such records, the records maintained by the Bank will be treated as true.

The Bank shall maintain such records as if it were a prudent manager and the records shall

be kept for a minimum of 7 years.

XXI. Back office operation arrangements for Internet banking service

(I) The Customer agrees with the Bank that the back office operation for cash

management deposit and remittance business shall be handled by the head office of

CTBC Bank Co., Ltd., (hereinafter referred to as “Taipei Head Office”). Taking into

account operation efficiency, the Customer agrees that all personal data and

transaction details shall be synchronically transmitted to Taipei Head Office for

processing and filing.

(II) The Bank shall ensure that all engaged operations and data shall be transmitted

according to the relevant laws of Hong Kong and Taiwan, including but not limited to

the regulatory handbook for outsourcing activities published by the competent

authorities, Personal Data (Privacy) Ordinance and other related provisions and all

must be fully complied with. The Customer hereby consents to the Bank’s rights of

disclosure of relevant information of the Customer under this Agreement.

Article 4 Terms and conditions for Facsimile or Imaged File by way of email Instructions Service

I. The Customer authorizes the Bank to accept the instructions of the Customer transmitted by means

of facsimile or imaged file by way of email, provided such facsimile or imaged file by way of email

instruction shall be in the form for various businesses of the Bank and affixed with the whole image

of application forms and specimen signature of such account holder. (hereinafter such type of

instructions are referred to as “instructions”).

II. If the manager of the Bank determines that an instruction is apparently true upon receipt, the Bank

is entitled to assume such instruction as fully authorized by the Customer without further verification.

Such instruction shall also be binding on the Customer, irrespective of the circumstances at the time

the Bank receives such instruction or the amount of the transaction, or whether such instruction is

mistaken, misunderstood, unclear, forged, fraudulent or unauthorized.

III. The Bank may at any time attach matching password or test to the instructions. The Bank does not

accept any responsibility arising from the improper use of such password or test by the Customer.

IV. Any claim, litigation, loss, damage or cost arising from the act or omission by the director, manager,

officer, staff, nominee and agent of the Bank based on the acceptance, exercise, processing of such

instructions will be indemnified by the Customer so as to assure that they will not incur damages.

V. In executing this service, the liability for indemnity or exclusion or restriction of liability prohibited

by the laws of Hong Kong will not be affected.

VI. The Customer shall transmit the instruction to the Bank within the designated service hours. If the

relevant instruction is not received by the Bank within the designated service hours, the Bank is

entitled to decide not to accept such instruction or to execute such transaction on the following

business day. The exchange rate involved in the transaction shall be determined according to the

rate quoted by the Bank or other exchange rate agreed on the date the transaction is executed. The

Customer understands that the instruction may not be dealt with immediately or on the same day

due to system limitation or the operation procedures of the Bank. The Customer agrees that the



Bank does not have any liability to the Customer or other parties (including corporations, whether

incorporated or not) for the execution of instruction received after the designated service hours.

VII. The Customer shall transmit the specific form of instruction provided by the Bank whenever each

instruction is transmitted. The Customer may add and supplement information to the form according

to the circumstance but subject to the consent of the Bank in advance.

VIII. The original of the instruction does not have to be delivered to the Bank. The Bank shall treat the

copy of facsimile or imaged file by way of email instruction application as the official evidence for the

deposit or withdrawal of money or the application of other business or related documents.

IX. The Customer agrees in any event if the content or the signature of the instruction transmitted by

the Customer is illegible, the Bank is entitled to reject such instruction. The Customer also agrees

that the Bank shall not be liable for the authenticity of the instruction or any inaccuracy, interruption,

mistake, delay or breakdown arising from such instruction except arising from the willful default or

gross negligence of the Bank. The Customer agrees that once the instruction is transmitted, it is

irrevocable or cannot be withdrawn without the consent of the Bank. The Customer shall continue to

assume full responsibility for any instruction transmitted by him/her, unless the Bank agrees and

confirms to revoke or withdraw the instruction upon request.

X. The Customer understands and accepts the risk that may arise from instruction. As the

signature on the instruction is not the signature in original, it may be forged. The instruction

may not be delivered to the Bank due to wrong number or email address. In the event it is

transmitted by mistake to other places and the content becomes known to any third party,

the Bank shall not have any liability.

XI. The Customer agrees to assume the risk of instruction, and waives his/her right to claim

from the Bank in respect of the following items:

(I) breakdown of system or equipment (whether or not the system or equipment is

provided by the Bank), including telecommunication services and the TOKEN;

(II) the Bank accepts the instruction apparently transmitted from the Customer but in fact

may not have been authorised;

(III) the delay in the execution of the instruction of the Customer by the Bank as a result of

telecommunication problems;

(IV) the repeated transmission of the facsimile or imaged file by way of email by the

Customer resulting in the repeated execution of the instruction of the Customer by the

Bank;

(V) any delay or failure by the Bank in delivering or providing any part of facsimile or

imaged file by way of email instruction service.

XII. The Customer agrees that the Bank may amend or add and delete the scope of facsimile or imaged

file by way of email instruction and related terms from time to time, including the amendment,

addition and supplement of the terms in this section. The amendment of these terms and conditions

and / or addition of new terms to these terms and conditions by the Bank will be published by the

Bank in the form of announcement, advertisement or other appropriate means so as to inform the

Customer. If the Customer continues to maintain or use the facsimile or imaged file by way of email

service on or after the date the amendment becomes effective, the Customer will be deemed to



agree with and accept these terms and conditions as amended, which will be immediately binding

on the Customer. The provision of various accounts or facilities through facsimile or imaged file by

way of email instruction and facsimile imaged file by way of email instruction services shall be

governed by the contract rules and terms, letter of authorization and the guidance and manual for

the Customer (“Service Conditions”) as supplemented, amended or substituted from time to time.

The Customer confirms the content of these terms and conditions will not restrict any specific

provisions set out in the Service Conditions.

XIII. The Customer understands that the facsimile or imaged file by way of email instruction service is a

service offered by the Bank for the convenience of the Customer, and is not intended to substitute

other means. If the facsimile or imaged file by way of email instruction service cannot be used or

becomes void due to any reason (whether or not caused by the Bank or within the control of the

Bank), the Customer does not have the right to claim any compensation from the Bank, and will use

other means, such as counter service to apply for various types of transaction. If the Customer has

applied for transactions at the counter, the Customer shall ensure that he/she will not repeat the

same instruction by means of facsimile or imaged file by way of email instruction. If the negligence

of the Customer causes repeated execution of instruction by the Bank, the Customer shall assume

all losses arising therefrom.

XIV. All claims, litigations, losses, damages, costs and expenses arising from the act or omission of the

Bank at any time based on the receipt, exercise, processing of instruction by the Bank will be

indemnified by the Customer to the Bank, save as those arising from the willful default of the Bank,

whether such acts are directly or indirectly arising from or related to the receipt and execution of the

facsimile or imaged file by way of email instruction by the Bank or failure in the execution of such

instructions. Such liability will survive the Bank’s termination of provision of facsimile or imaged file

by way of email transaction service to the Customer.

XV. The Customer shall ensure that his/her account has adequate funds or pre-arranged credit facility

to execute the instruction. If there is inadequate funds and / or credit facility to execute such

instruction, the Bank will not assume any liability in respect of the consequences arising therefrom.

XVI. The Bank is entitled to inform the Customer that the Bank will suspend, terminate or not continue to

accept the Customer conducting part or all of the transaction by means of facsimile or imaged file by

way of email instruction, which will become effective immediately. In addition, if the Bank considers

the account of the Customer has improper operation or the service is used illegally by other parties,

the Bank shall terminate the service forthwith without any prior notice. The Bank will not assume

any liability from the termination of such service.

XVII. The Customer agrees that the Bank may (but not obliged to) tape record the telephone conversation

between the Customer and / or the attending officer. Such records shall be binding on the

Customer and can be used as evidence to prove the existence of such transactions and the facts

contained in such communications. All such recordings are the properties of the Bank. The Bank

shall set a time limit to keep such records and other documents of the Customer, and will destroy

the originals after expiry of such time limit. Upon receipt of instructions from the Customer, the Bank

shall confirm such instructions by phone with the Customer (or the principal holder of a joint

account).

XVIII. Unless otherwise provided in these terms and conditions, the Customer will comply with the

relevant laws and the regulations of the Bank as well as the current or future regulations of the

competent authorities in Hong Kong. The Customer also agrees that such laws and regulations

form a part of these terms and conditions. Other matters not provided in these terms and conditions

will be dealt with according to the terms as provided in the account opening documents of the Bank.



Article 5 Terms and conditions for Phone Instruction

The Customer hereby applies to the Bank for the use of phone instruction, and agrees to comply

with the related provisions of the Bank below for phone instruction services:

I. When the Customer applies to use phone instruction, the Customer must deal with the application

in person at the counter with the personal identification documents. Upon acceptance of the

application from the Customer, the Bank will issue the letter with password to the Customer.

II. When the Customer uses phone banking for the first time, the Customer must have the password

letter issued from the Bank and use a tone phone, personal mobile phone of the Customer or other

means agreed by the Bank to activate the change of password. The password may be changed for

unlimited times at any time in the future. If the change of password and activation procedure is not

completed within the period specified by the Bank, the phone banking password will be voided by

the Bank automatically. If the Customer still wishes to use phone banking, the Customer shall apply

to the Bank again.

III. After application is made by the Customer, the Customer may deal with the related businesses by

telephone instruction:

IV. The Customer has to ensure that all necessary measures are adopted to keep the personal

password strictly confidential. Under any circumstances, the Customer shall not disclose the

personal password to any third party, provided that joint account holders shall keep such password

jointly. The Customer shall

(I) destroy the original password letter printed with the personal password

(II) change the personal password regularly to protect his/her interests. The Customer should not

record the personal password in writing without cover, provided at the time when the

password is changed the following matters should not be done:

1. Using the same numbers or consecutive numbers.

2. The password after change should not be the same as the original password.

V. The service provided by the Bank according to the phone banking instruction authorized by the

Customer through telecommunication equipment and the transactions conducted with the

combination of password (including joint accounts and application for various businesses) carries

the same effect as withdrawing or transferring by way of savings account specimen signature and

issue of cheque with original specimen or other agreed methods. The balance of deposits after

execution of transactions shall be subject to the computer records of the Bank. The Bank does not

have any liability to the Customer upon execution of phone banking instruction according to an

accurate personal password given by a person not authorized by the Customer. The Customer

understands and agrees that the Bank does not have any liability to verify the identity of the party

giving phone banking instruction apart from confirming the personal passwords. However, the Bank

may, at its discretion, require the Customer to provide additional personal information for checking

identity before executing any phone banking instruction.

VI. All phone instructions cannot be changed, cancelled or revoked after confirmation by the Bank. The

Customer agrees with the binding effect and is willing to be bound by all the phone instruction



transactions executed by the Bank in accordance with the phone instruction given by the Customer

and confirmed by the Bank.

VII. If the Customer forgets the personal password, the Customer shall apply to the Bank for termination

to use. If the Customer wishes to continue to use such service, the Customer shall apply to the

Bank again. If the Customer wishes to terminate or change the phone instruction service, the

Customer shall deal with the same in person. If the Bank considers the Customer is operating the

account improperly or there is any illegal use of the Service by other parties, the Bank shall forthwith

suspend the provision of such service and immediately inform the Customer by phone or in writing

about the suspension of the service. The Bank does not have any liability in respect of such

suspension of service.

VIII. If the Customer discovers that the personal password is disclosed or being stolen, the Customer

shall immediately inform the Bank by phone, in writing or by other means as prescribed from time to

time by the Bank, and promptly change the personal password.

IX. If the Customer continuously inputs the wrong password more than the maximum number of times

allowed, or upon closing of the account, the Bank will automatically terminate the phone instruction

service. If the Customer intends to resume the using of the phone banking service, the Customer

shall apply to the Bank again.

X. The Bank may amend the related terms of the service at any time. The Bank is also entitled to

collect handling fee, service fee, postage and cable fee or other related fees according to the

schedule of fees of the Bank. If there is any revision to the relevant provision and the fees, the Bank

shall, 30 days prior to such revision, publish a notice on the first page of the Internet banking service

of the Bank or by other means considered appropriate by the Bank and notify the Customer that the

Customer can terminate the related service within such period. If the Customer continues to use the

related service after such period, he/she shall be deemed to have accepted the revision in the

relevant provisions and fees. The Customer also hereby authorizes the Bank to debit such fees

directly from the account of the Customer.

XI. If the Customer conducts a transfer in foreign currency with the phone instruction password by

phone, currencies other than Hong Kong dollars shall be converted into the equivalent of Hong

Kong dollars at the prevailing exchange rate. The transfer amount shall be rounded down to two

decimal places for each currency other than Japanese Yen, which will remain in an integral unit.

Changes in the types of currencies for account transfer shall be prescribed by the Bank and

becomes effective immediately without notice. Any exchange or interest rate quoted by the Bank

according to a phone banking instruction will be for reference only. Unless the Bank confirms such

quote as applicable for trading purpose, the Bank is not obliged to trade according to such quote.

If the Customer using the phone instruction service accepts the exchange or interest rate quoted by

phone and completes the transaction, such transaction will be binding on the Customer.

XII. The Customer shall ensure that his/her account has adequate funds or pre-arranged credit facility to

execute the phone banking instruction. If there is inadequate funds and / or credit facility to execute

such phone banking instruction, the Bank will not assume any liability in respect of all

consequences arising therefrom.

XIII. The Bank shall send the statement for the transactions conducted through phone instruction service

to the Customer each month. If the Customer discovers any mistake after checking the transaction

statement, he/she shall inform the Bank in writing within 90 days from the receipt of the statement.

The Bank shall assume that the statement is accurate after such period. The statement will be

presented in writing through automated equipment or Internet.



XIV. The Customer agrees that the Bank may at any time suspend, terminate, or add part of the service

items under the phone instruction service, except where practicable, the Bank will publish an

announcement in the business premises or on the Website for the suspension or termination of the

service items in advance in a noticeable manner.

XV. The Customer agrees that all legal proceedings, litigations, claims, losses, damages, costs and

expenses incurred by the Bank at any time will be indemnified by the Customer, save as those

arising from the willful default of the Bank, whether such acts are directly or indirectly arising from or

related to the execution of the phone banking instruction by the Bank or failure in the execution of

such instructions. Such liability will survive the Bank’s termination of provision of phone instruction

service to the Customer.



CHAPTER 3 TERMS AND CONDITIONS FOR FINANCIAL TRANSACTIONS

CTBC Bank Co,, Ltd. whose principal place of business is situate at 28/F, Two International Finance

Centre, 8 Finance Street, Central, Hong Kong, is a licensed bank under the Banking Ordinance and

a registered institution under the Securities and Futures Ordinance (CE No. ABM849) and shall

carry on the Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities.


These terms and conditions are applicable to the Customer for the provision of various investment

products by the Bank. In these terms and conditions, the following wordings shall have the following

meanings:-

I. “Business day” shall mean the day the Bank opens in Hong Kong (or where specified or referred to

another location, then such location) for businesses (excluding Saturdays or Sundays).

II. “Account” shall mean the cash or other nominee trading account opened by the Customer at the

Bank.

III. “Person” shall include individual, sole proprietorship, partnership, corporation (whether incorporated

or not) and unincorporated associations;

IV. “Hong Kong” shall mean the Hong Kong Special Administrative Region of the People’s Republic of

China.

V. “Registered institution” shall have the meaning as set out in Section 2 and Table 1 of the SFO.

VI. “SFO” shall mean the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong)

VII. “Instruction” shall mean the trading of “Investment Products” and all acts related to such products.

VIII. “Trading” shall mean the execution of Instruction.

IX. “Associates” shall mean the companies for which their equity interests are directly or indirectly held

currently or in future by the Bank and any of its subsidiaries.

X. “SFC” shall mean the Securities and Futures Commission.

XI. “Clearing Houses” shall mean Hong Kong Securities Clearing Company Limited (“HKSCC”), HKFE

Clearing Corporation and other clearing houses recognized by the regulatory authority for the

provision of clearing and settlement services.

XII. “SEHK” shall mean The Stock Exchange of Hong Kong Limited or any recognized international

exchange.

XIII. “Investment Products” shall mean the products that are integrated with the initial investment amount

and derivative financial products transactions for the purpose of providing the Customer with

investment instruments that are more flexible in gain.

XIV. “Indicative Term Sheet” shall mean the agreement entered into by the Customer according to the



conditions set out in Indicative Term Sheet after referring to the product prospectus provided by the

Bank. The Bank may at any time terminate or change any terms of a product subject to notice in

writing issued by the Bank to the Customer.

XV. “Designated Product” shall mean the Investment Products designated by the Customer for which

the Customer instructs the Bank to subscribe, after referring to and reading the Indicative Term

Sheet.

XVI. “Transaction Notice for Investment Product” / “Confirmation Notice of Dual Currency Investment

Contract” shall mean the confirmation of a particular Designated Product traded by the Bank

according to the instructions of the Customer. Such Transaction Notice for Investment Product /

Confirmation Notice of Dual Currency Investment Contract shall set out related matters such as

investment currency of such Designated Product, Initial Investment Amount, terms of product,

trading conditions and method for calculating gain.

XVII. “Offer Period” shall mean the period the Bank commences to promote a particular Designated

Product to the public so that the subscription amount of such product will reach the predetermined

level.

XVIII. “Initial Investment Amount” shall mean the investment currency and amount instructed by the

Customer to the Bank for subscription of a particular Designated Product.

XIX. “Settlement Date” shall mean any date for settlement of any Designated Product according to these

terms and conditions.

XX. “Valuation Date” shall mean the date for comparing the market price with the offer/contract price.

XXI. “Product Redemption Date” shall mean the redemption date of the Designated Product invested by

Customer and redeemed by the Bank in accordance with the original trading terms of the

Designated Product.

XXII. “Target Profit Point” shall mean where the underlying investment starts making profit.

XXIII. “Target Loss Point” shall mean where the underlying investment no longer makes any profit.

XXIV. “Subscription Date” shall mean the date specified in the Indicative Term Sheet by the Bank for

trading the product.

XXV. “Initial Date” shall mean the fifth business day after closing of the subscription of the product.

XXVI. “Expiry Date” shall mean the maturity date of the Designated Product.

XXVII. “Product Period” shall mean the total number of days elapsed between the Initial Date and the

Expiry Date.

XXVIII. “Day Count Convention” shall mean the international convention for counting the number of days

the investment will accrue interests. (For example, 365 days for sterling pound and 360 days for US

dollars.)

XXIX. “Denomination Currency” shall mean the initial foreign currency of investment.

XXX. “Cross Currency” shall mean the denomination instructed by the Customer relative to the



Denomination Currency.

XXXI. “Conversion Exchange Rate” shall mean the exchange rate agreed on the date of exercise of the

option which will be used to convert any product subject to conversion into the Cross Currency upon

maturity.

Article 2 The relationship between the Bank and the Customer

I. Unless it is shown on the contract note or other instrument by the Bank that the Bank is the principal,

otherwise the Bank executes instructions as the agent of the Customer. Unless otherwise specified,

the Bank hereby represents that the Bank is entitled to act as counterparty to the trading

instructions of the Customer without notifying the Customer or obtaining his/her consent.

II. Unless the Customer expressly notifies and represents to the Bank to the contrary, the Bank shall

rely on the representation of the Customer that the execution of instruction and the operation of

account by the Customer is for his/her own benefit. The Customer warrants that he/she is the true

beneficial owner of the account and is not holding the account for other beneficiaries. If there is any

change, the Customer agrees to inform the Bank immediately about the identity of the ultimate

beneficial holder of the account and the change of such information.

Article 3 Ordinances and Rules

I. All transactions in the account (whether or not subject to the regulated transactions as provided in

the SFO) are conducted in compliance with all laws and regulations including the rules and

regulations of SEHK, SFC, Hong Kong Futures Exchange and HKSCC as well as the laws of Hong

Kong. With respect to the transactions executed outside Hong Kong, they are subject to the

supervisory authorities in other jurisdictions. Therefore the Customer may be subject to regulation

to the extent and in a manner which may be significantly different from these rules.

II. Unless otherwise provided in these “Terms and Conditions for Financial Transactions”, these terms

and conditions and the definitions used in the trading contract is governed by the relevant laws of

Hong Kong, the latest version of definitions published by International Swaps and Derivatives

Association, Inc.(“ISDA”) or the prevailing market practices. For those parts that are not covered by

these terms and conditions, they are subject to the Confirmations of individual transactions or the

Transaction Notice for Investment Product / Confirmation Notice of Dual Currency Investment

Contract, Indicative Term Sheet or market practices.

Article 4 Information, information disclosure and risk disclosure

I. Information of the Customer: The Customer confirms that the information provided to the Bank is

complete, true and accurate. If there is any change or amendment to the information provided by

the Customer to the Bank, the Customer shall inform the Bank within 24 hours after such change or

amendment.

II. These terms and conditions: If there is any change to these terms and conditions, the Bank will

inform the Customer.

III. Change in the Bank: If there is any significant change to the businesses of the Bank, whereby such



change may affect the provision of services by the Bank to the Customer, the Bank shall inform the

Customer.

IV. Credit review: The Bank is authorized to conduct credit review on the Customer, for which the Bank

will contact the corresponding banks of the Customer (for purpose including verification of the

financial position of the Customer, investment objectives and the information set out by the

Customer in the declaration). The Bank will also transmit the identity and other information of the

Customer, together with the account and information of the ultimate beneficiaries in the relevant

transactions of the Customer to any branch of the Bank.

V. Information disclosure: The Customer agrees that the Bank may, at the request of any Hong Kong

or overseas stock exchange, clearing house or governmental or supervisory authorities (including

SEHK and SFC) and in accordance with the applicable law, rules, regulations and directions

(whether having the force of law), disclose information about the Customer and details of the

account and the transactions.

VI. Risk disclosures: The risk disclosure statement in Annexure 1 is an integral part of these terms and

conditions and shall be read together with these terms and conditions. The Customer confirms that

an officer of the Bank has invited him/her to read carefully the Risk Disclosure Statement and the

Customer fully understands its content.

Article 5 Instructions of Customer

I. Quote and trading practices

(I) The Bank shall provide quotation to the Customer upon requests (including bid and offer

prices). Unless the Bank confirms that the quoted price is applicable for trading, all

information provided shall be for reference only.

(II) When the Bank quotes a trading contract to the Customer, the Bank is entitled to inform the

Customer that the price quoted is only effective within a certain timeframe.

II. Indicative Term Sheet

The Bank shall provide Indicative Term Sheets to the Customer on the nature, conditions and risks

of the transaction which shall be treated as reference quotation only. The Bank is not obliged to

enter into any transaction with the Customer at such reference quotation.

III. Recommendations

If the Bank solicits the sale of or recommend any financial product to the Customer, the financial

product must be reasonably suitable for the Customer having regard to the Customer’s financial

situation, investment experience and investment objectives. No other provision of this Agreement or

any other document the Bank may ask the Customer to sign and no statement the Bank may ask

the Customer to make derogates from this paragraph.

Note: “Financial product” means any securities, futures contracts or leveraged foreign exchange

contracts as defined under the Securities and Futures Ordinance (Cap.571, Laws of Hong

Kong)(“SFO”). Regarding “leveraged foreign exchange contracts”, it is only applicable to those

traded by persons licensed for Type 3 regulated activity.

IV. Requests



The Customer may raise requests for various transactions verbally or in writing (hereinafter referred

to as the “Requests”). Requests made during the agreed time or which are not rejected by the Bank

are binding on the Customer; the Bank may reject the Requests under certain the circumstances.

V. Instructions

The Customer may give instructions for various transactions verbally or in writing. The Bank can

decide whether or not to deal with such instruction which shall not be disputed by the Customer.

The Bank has the absolute discretion at any time to reject any request or refuse to implement any

instruction of the Customer (without incurring any liability to the Customer) and the Bank has no

obligation to give any reason therefor.

VI. Verbal and in writing

For the purposes of these terms and conditions, the Customer authorizes the Bank to assess,

determine and execute in its sole discretion the Requests, instructions, confirmations or other

related acts made by the Customer verbally or in writing, and handle any matters arising therefrom.

“Verbally” shall mean the acts of the Customer in person or by its Authorized Persons or by phone.

The Customer agrees that the Bank shall record the conversations of both parties pursuant to the

regulations and verify the identity of the Customer with the phone banking password on the phone.

The recording files are maintained at the central recording system set up at the business location of

the Bank (which are kept for not less than 3 months) for evidences purpose. “In writing” shall mean

the original, cable facsimile or imaged file. The Customer authorizes the Bank to process the cable,

facsimile and imaged file as an original without any dispute. If the Bank considers the text or

information in the facsimile or imaged file copy is illegible or questionable, the Bank may choose not

to accept the request or contact the Customer to confirm. When the Customer makes requests for

transactions in writing, the Customer agrees to sign in the same specimen signature retained at the

Bank for debiting the account. The specimen signature is valid between the Customer and the Bank

for various transactions and businesses relating to ISDA or IFEMA, and will remain valid until the

Customer amends the same by giving an original notice in writing.

VII. Liabilities of the Bank

If the Bank decides to execute the instructions of the Customer, the Bank shall execute the

instructions as soon as practicable. However, if there is any delay, partial execution or inability or

failure in execution of any instruction on the part of the Bank (including, but not limited to the

breakdown or malfunction of any computer or electronic system or equipment), which results in any

direct or indirect losses, damages or expenses on the Customer, the Bank shall not have any

liability (including but not limited to any direct or indirect losses, damages or expenses suffered or

incurred by the Customer arising from the movements in exchange rate between the time the

Customer instructs the Bank and the time the instructions are received and executed by the Bank).

VIII. Reliance on the Requests and instructions of the Customer

Without excluding or diminishing the statutory interests of the Customer under the SFO, the

Customer agrees to indemnify the Bank against all losses suffered from acting on the Requests or

instructions of the Customer.

IX. Cancellation of instructions

The Bank is not obliged to cancel, change or amend any instructions already given to the Bank. If

the original instruction is already completed or if the Bank considers there is not sufficient time or is



not able to cancel, change or amend the original instruction, then the Bank is not responsible for

any losses or expenses suffered or incurred by the Customer.

X. Counterparties of the Bank

Under the conditions of fair trading, the Bank and / or its Associates may act as the counterparties to

the transactions instructed by the Customer. The Customer agrees that the Bank does not have to

account to the Customer for any profits or other gains derived from such transactions.

XI. Combination of bid and offer orders

The Bank may combine the bid and offer orders of the Customer with the bid and offer orders of its

own or its Associates or other customers of the Bank. The combination of bid and offer orders with

the Bank does not place the Customer in a less favourable position than the Bank. The combination

of bid and offer orders with other customers of the Bank will not place the Customer in a less

favourable position than such customers of the Bank.

Article 6 Confirmation, clearing and settlement of transactions

I. Confirmation of transactions

(I) Unless otherwise agreed with the Customer, the Bank shall promptly give a confirmation to

the Customer after execution of a transaction for the Customer. If the Transaction Notice for

Investment Product / Confirmation Notice of Dual Currency Investment Contract specifies a

particular Settlement Date, but the settlement is not executed as a result of typhoon warnings

or black rainstorm warnings, the Settlement Date will be postponed to the following business

day. The Customer agrees to pay the amount due before the Settlement Date as set out on

the Transaction Notice for Investment Product.

(II) The Bank will provide the Customer with monthly reports and statements relating to

transactions.

II. Clearing of transactions

With respect to the various transactions executed by the Bank pursuant to these terms and

conditions for the Customer, the Customer shall settle the transaction in accordance with the

Settlement Date, location and manner as specified in the relevant product prospectus, Indicative

Term Sheet, or Transaction Notice for Investment Product/ Confirmation Notice of Dual Currency

Investment Contract. The Customer shall pay the fees, reimbursement, commission and all

applicable levies, stamp duties, charges of the Bank, transfer fees, interests and other essential

expenses or costs arising from the account or any instruction or any transaction or otherwise.

III. Breach by the Customer

If the Customer does not settle any transaction in accordance with the provisions of the trading

contract, the Bank is authorized, without informing the Customer, to transfer or sell the foreign

exchange acquired in the event of a bid transaction towards satisfaction of the Customer’s liabilities

to the Bank. The Bank is authorized to borrow and / or acquire the foreign exchange sold in the

event of an offer transaction towards satisfaction of the Customer’s liabilities to the Bank. All losses,

damages, costs or expenses incurred by the Bank as a result of such transfer, sale, borrowing or

acquisition of foreign exchange due to the non-payment or failure to deliver the foreign exchange by



the Customer shall be repaid in full by the Customer to the Bank.

Article 7 Commission, rebate and fees

I. The Customer agrees to pay the commission and custody fee determined by the Bank from time to

time. The Customer confirms that the Bank is entitled to request, accept and retain any rebate,

brokerage, commission, expense, benefit, discount or other benefits provided by other parties for

the benefit of the Bank as a result of executing the transaction. The Bank may also provide any

benefit to any party related to the transaction. However, in receiving the benefits above, the Bank

will comply with the relevant regulations and disclose to the Customer the interests, transactions,

execution standard, brokerage rate and the rules for disclosing information to the Customer.

II. Withdrawal of amounts: The Bank has the sole discretion to withdraw cash from the account so as

to pay the amount payable and due to the Bank by the Customer according to these terms and

conditions.

III. Interests for overdue amounts: With respect to the overdue amounts, the Customer agrees to pay

the interests accrued from the maturity date to the date the relevant amount is settled in full at the

interest rate informed by the Bank to the Customer. The overdue amount includes, but is not limited

to, the reasonable costs and expenses arising from the collection process by the Bank (including

legal fees).

Article 8 Security

I. The Customer agrees to charge the following to the Bank:-

(I) The assets or securities now and hereafter held in his/her account with the Bank

(II) All monies and other properties of the Customer (including all dividends or interests paid or

payable on securities) held by the Bank from time to time as margin deposits or for other

purpose (hereinafter referred to as the “Collateral”) so as to guarantee repayment by the

Customer of all or any of the debts due to the Bank.

II. Enforcement of security upon occurrence of events of default: If any of the events set out in Article 9

“Events of Default” has occurred, the Bank may enforce the security on the Collateral at any time

considered appropriate by the Bank without notice to the Customer. Under such circumstances, the

Bank may at any time sell all or part of the Collateral at market price. The Bank may apply the sale

proceeds towards repayment of all or part of the amount due to the Bank by the Customer. The

Bank does not have any liability arising from any loss thereby incurred. The Bank can also transfer

and combine any account of the Customer. The Customer shall pay all outstanding amounts due to

the Bank after enforcement of such rights by the Bank (including all costs and expenses reasonably

incurred upon exercise of such rights by the Bank).

Article 9 Events of default

I. Events of Default

Any one of the following events shall be regarded as an Event of Default under these terms and

conditions (hereinafter referred to as the “Events of Default”):-



(I) The Customer fails to pay in accordance with these terms and conditions or fails to pay the

amount payable under other contracts with the Bank.

(II) The performance of obligations by the Customer or the Bank under these terms and

conditions becomes illegal, impossible or material difficult.

(III) The Bank becomes aware that the financial statements submitted by the Customer or its

representative are untrue or misleading according to the terms and contents of the documents

related to the transactions.

(IV) The Customer fails to perform the liabilities or obligations under these terms and conditions.

(V) The Customer being declared bankrupt voluntarily or involuntarily or being petitioned for

liquidation, dissolution or subject to a scheme of arrangement, or any of his/her assets being

subject to enforcement action.

(VI) A receiver is appointed to receive all or part of the assets of the Customer.

(VII) The Customer fails to pay the amount due under any contract with other parties, or any

monetary indebtedness of the Customer (whether as principal or guarantor) becoming due

prior to its due date.

(VIII) The account of the Customer being included in any execution court order.

(IX) The Bank acting in good faith reasonably considers that there is any material adverse change

in the status, business, financial position, legal status or ability of the Customer.

(X) The occurrence of any event being declared by the Bank in writing which, in the reasonable

opinion of the Bank, may result in the Customer being unable or incapable to perform the

obligations under these terms and conditions, any particular transaction or any obligation

related to trading.

II. Consequences of Event of Default

If any event of default occurs, the Customer shall not have any right to trade with the Bank. The

Bank is also entitled (but not obliged) to take one or more of the following actions at any time:

(I) to declare all amounts payable by the Customer to the Bank pursuant to these terms, any

contract or transaction immediately due for payment.

(II) to cancel any unexecuted instructions and / or cancel all outstanding transactions and / or

close all outstanding positions at fair market price.

(III) to enforce the Collateral (including the margin deposits) directly in accordance with Article 10

of this Chapter “Termination of Contract” under these terms and conditions, and apply the

proceeds to setoff the amounts payable to the Bank by the Customer. However the Bank is

not obliged or liable to exercise the above rights at a time or with a mean convenient to the

Customer.

(IV) to terminate these terms and conditions.



(V) to setoff or withhold from the account balance any amount due by the Customer without any

notice in advance but the Bank shall notify the Customer of such setoff.

Article 10 Termination of contract

I. Apart from the circumstances set out in Article 9 “Events of default” above, the Bank or the

Customer may also give notice in writing to the other party at any time to terminate these terms and

conditions and / or cancel the account. However, the Customer’s notice in writing to the Bank to

terminate these terms and conditions or accounts and / or cancel the letter of authorization shall

only become effective on the second business day after the Bank’s actual receipt of the notice.

II. Before the termination notice given by the Customer becomes effective pursuant to Article 10(I)

above, the Bank may still (but not obliged ) to operate the account or exercise its rights in

accordance with these terms and conditions.

III. Termination of these terms and conditions by the Customer does not affect the transactions already

executed before such termination, and will not affect the rights of claim by the Bank against the

Customer, which right will survive termination of contract and will remain valid and enforceable

against the Customer.

Article 11 Indemnity

In addition to the above provisions, the Customer shall indemnify the Bank against all expenses,

damages, costs, debts or losses incurred by the Bank arising from the Customer’s non-performance

of obligations under these terms and conditions or any transaction or other obligations related to the

transactions including the costs, fees and other amounts paid or payable by the Bank as a result of

the Customer not settling or paying any sum in accordance with the provisions of the transaction, or

the losses (including loss of profits), penalty or other expenses incurred by the Bank by applying its

own funds or borrowing from third party to pay or settle the amount due or to become due under

these terms and conditions or the provisions of any transaction.

Article 12 Declaration by the Bank

The representatives and employees of the Bank may conduct various transactions offered under

these terms and conditions as permitted by the relevant laws. The Bank is not required to inform the

Customer about such transactions or seek consent from the Customer.

Article 13 Representations and warranties of the Customer

The Customer represents and warrants that:-

I. The Customer is not residing or having resident right in any country that has any restriction on the

Customer in investing in transactions available under these terms and conditions. If the Customer

becomes a resident of such country(ies), the Customer shall forthwith inform the Bank and agree to

terminate the related transactions immediately at the request of the Bank.

II. When the Customer acquires or conducts any transactions according to these terms and conditions

with the Bank, the Customer shall ensure that he/she himself/herself or any person whom he/she



represents is not prohibited from acquisition or trading. In jurisdictions restricting foreign ownership

of securities, the Bank shall have no duty to ascertain the nationality of the owner of the securities or

investment products or that the securities or investment products deposited are approved for foreign

ownership unless otherwise agreed with the Customer.

III. During the operation of the account, the Customer shall declare to the Bank whether the

instructions are given by his/her Authorized Persons, and provide to the Bank the name, address

and the letter of appointment of such Authorized Person.

IV. The Customer shall not appoint any employee or representative of the Bank to operate the account

of the Customer.

Article 14 Right of assignment

The Customer shall not assign any rights or liabilities under these terms and conditions without the

consent of the Bank in writing.

Article 15 Letter of authorization

I. Subject to the applicable laws, the Customer Party irrevocably appoints the Bank as his/her

authorised representative. The Bank is also authorized to take every necessary action and sign

every necessary document in the name of the Customer or on behalf of the Customer so as to

implement or execute the transactions under these terms and conditions.

II. The Customer undertakes that at the request of the Bank, the Customer will take any action, sign

any instrument and document or deal with any matter so as to implement or execute any provision

or rights granted to the Bank under these terms and conditions.

Article 16 Opening of deposit account

Prior to the application for any “Investment Products”, the Customer shall first open a deposit and

fixed deposit account with the Bank in the same or related currency of the principal currency of the

Designated Product. Further, for the settlement of products upon maturity, the Customer agrees to

authorize the Bank to open a deposit account in the relevant transaction currency. The account

opening procedures and terms are subject to the applicable laws and the Bank’s relevant rules and

regulations.

Article 17 Subscription instruction

I. The Customer agrees that, during the Offer Period of the Designated Product, he/she has read in

details the relevant contents and conditions of the Indicative Term Sheet before signing relevant

documents of the products and authorizing the Bank to subscribe the Designated Product according

to these terms and conditions and the related documents.

II. From the date of subscription (that is the date of the transaction) to the Initial Date of the product,

the Customer shall maintain in his/her deposit account opened at the Bank an amount not less than



the initial investment amount. The Customer also authorizes the Bank to withhold such amount and

directly debit from such account on the payment date for the subscription of the Designated

Product.

III. The Customer agrees that all relevant transactions in respect of the Designated Product will be

dealt with either verbally or with written authorization using the signature seal of the deposit account.

If the signature seal is lost or damaged, the Customer shall forthwith report to the Bank for the loss

or change the signature seal. Before the procedures are completed, the transactions conducted on

the old signature seal of the Customer remain valid.

Article 18 Taxation

Any return, redemption amount and / or interest shall be paid subject to any deduction or

withholding for tax purposes required by law.

Article 19 Committed subscription amount

The Bank does not guarantee that the Designated Product authorized and instructed by the

Customer for subscription would fulfill the minimum subscription amount during the Offer Period

(during the time the product is launched, the Bank shall aggregate the subscription amount from

each Customer and determine whether the entry barrier of the Designated Product will be met). The

entry barrier of each specific product will depend on the nature of the product as provided in

the ”product prospectus”. If the subscription amount is not met, the Bank is entitled to cancel the

transaction in respect of the Designated Product or only execute part of the subscription instructions

of the Customer (whether or not the subscription instructions are fully or partially executed for any

other customers of the Bank). Under such circumstances, the Bank will inform the Customer as

soon as practicable and the Bank will not withdraw any relevant amount from the deposit account of

the Customer on the payment date. The Customer agrees that the Bank shall not have any other

liability apart from paying the interest accrued on the deposit in the deposit account of the

Customer.

Article 20 Confirmation/ Confirmation Notice

The Bank shall, after the Subscription Date, calculate the proceeds in accordance with the product

conditions and the method of calculation of proceeds upon maturity, and deliver the Confirmation /

Transaction Notice for Investment Product / Confirmation Notice of Dual Currency Investment

Contract to the Customer. Such documents are non-transferable and shall lapse automatically upon

maturity. If the Customer has any dispute in respect of the items set out in such document, the

Customer shall raise it with the Bank in writing immediately within one week of its delivery otherwise

the Customer shall be considered to have fully understood the items in the document. If any item

set out in the document is inconsistent with or different from these terms and conditions and the

Indicative Term Sheet, such document shall prevail.

Article 21 Adjustment

I. If there is any adjustment to the terms as set out in the Indicative Term Sheet which is considered

essential or appropriate by the Bank at its absolute discretion on or before the designated Initial



Date (including primarily, market fluctuation or events leading to increase of risk), the Bank is

entitled, at its absolute discretion, to make any adjustment to the Designated Product provided that

such adjustment will not seriously affect the interest of the Customer who has subscribed the

product. At the time when the relevant adjustments are made, the Bank will consider the interest

of all Customers who have already purchased the Designated Product as a whole and will not

consider the conditions of each individual Customer. Further, the relevant adjustments shall include

but not limited to any terms or conditions related to the calculation of proceeds. The relevant

adjustments must be made by the Bank in good faith and in a commercial reasonable manner. If the

Bank decides to make the adjustments, the Bank will promptly inform the Customer.

II. The calculation of proceeds from the Designated Product is based on the method for calculation of

proceeds upon maturity as set out in the Transaction Notice for Investment Product / Confirmation

Notice of Dual Currency Investment Contract. Prior to maturity the Bank does not assume any

liability for the minimum guaranteed return as set out in such document or any protection in respect

of the initial investment amount.

Article 22 Calculation of proceeds

I. The calculation of proceeds from the Designated Product is based on the method of calculation for

proceeds upon maturity as set out in the Notification of Consummation of Transaction /

Confirmation Notice of Dual Currency Investment Contract. Prior to maturity the Bank does not

assume any liability for the minimum guaranteed return as set out in such document or any

protection in respect of the initial investment amount.

II. The Customer agrees that delivery of interest on the original investment amount of the Designated

Product shall be subject to the terms and conditions of the Indicative Term Sheet or Transaction

Notice for Investment Product / Confirmation Notice of Dual Currency Investment Contract.

Article 23 Early termination

I. If the Customer terminates the contract prior to the Expiry Date, the net asset value of the products

is calculated according to the underlying investment made by the Bank at the time the contract is

terminated. The settlement amount from investment will be deposited into the deposit account

opened in the name of the Customer at the Bank within two to five business days after the contract

is terminated, after deducting therefrom the default premium and related handling charges. The loss

in interest on the initial investment amount upon early termination of contract shall be dealt with in

accordance with the relevant laws and the Bank’s procedure for early termination of Investment

Products. The Customer hereby agrees and confirms that calculations of such losses will be solely

processed by the Bank and the results from the calculation will be fully binding on the Customer.

II. The Bank is entitled to adjust the handling fee and the default premium. The contents of such

adjustment and the effective date will be notified to the Customer in accordance with Article 20 of

Chapter 1, which will be binding on the Customer.

Article 24 Initial investment amount upon maturity and repatriation of proceeds

The Designated Product invested by the Customer will automatically expire on the maturity date

and will not be renewed. The Customer also authorizes the Bank, within two to five business days



after the maturity date, to deposit the settlement amount from investment directly into the

designated deposit account opened in the name of the Customer with the Bank.

Article 25 Phone transactions

I. The Customer shall use phone banking password to subscribe Investment Products by phone and

shall keep the password confidential. After verifying the accuracy of the password, the Bank will

complete the transaction in accordance with the telephone instruction of the Customer. If there is

any unauthorized circumstances, the Customer shall forthwith inform the Bank and suspend the

service. Prior to the receipt of notice by the Bank, the transactions executed from the use of the

service by any third party will remain valid. The Customer shall not claim against the Bank for any

unauthorised use of password unless caused by the wilful act or gross negligence of the Bank.

II. Any application for subscription of Investment Products made by the Customer by phone should be

made within the usual business hours of the Bank. If there is any force majeure event or

circumstances not attributable to the Bank, such as suspension of electricity, interruption of

telecommunication or congestion or third party interference causing delay in execution or inability to

complete instructions or transactions, the Customer agrees to authorize the Bank to cancel the

transaction directly and inform the Customer who shall not raise any objection thereto.

III. The Bank and the Customer shall properly retain the records related to the service, and that the

records maintained by the Bank (including the recordings for confirmation of transactions) are

considered true.

IV. If the Customer intends to change the personal password, the Customer shall do so either in writing,

through internet, by phone or other methods agreed by both parties. Nevertheless, the change will

only become effective after it is confirmed and agreed to by the Bank.

V. The Customer shall terminate the services of the Bank under these terms and conditions in writing

or by other method agreed by both parties, provided that the transactions effected prior to the

termination becoming effective will remain valid. Such termination shall become effective after the

Bank has confirmed actual receipt of the termination notice and has completed the relevant

procedures.

Article 26 Miscellaneous

I. The Customer authorizes the Bank that once the Customer is in bankruptcy or liquidation, the Bank

may treat the Investment Products of the Customer as becoming mature. The Bank may settle the

Investment Products according to the prevailing market price, and transfer the settlement amount

from investment into the deposit account opened by the Customer at the Bank. If the account of the

Customer is frozen and cannot accept any deposit, the Customer agrees that the same shall be

deposited into the suspense account of the Bank and be dealt with in accordance with the relevant

laws and regulations.

II. In the event of natural disaster, strike, riot, war, any other force majeure events or any other

circumstances not attributable to the Bank, or any change in governmental orders making it

impossible for the Bank to perform these terms and conditions or causing delay in settlement, the

Bank does not have any liability to the Customer arising therefrom.



III. the Customer shall forthwith inform the Bank in writing of any change in his/her information.

IV. Any headings to the articles of these terms and conditions do not affect such paragraph and / or the

interpretation of other paragraphs.

V. Any article under these terms and conditions are independent and several. If at any time any article

is adjudged as ineffective or unenforceable, the effectiveness, legal status and enforceability of the

remaining articles will not be adversely affected.

VI. Any failure or delay in the exercise of any right, power or privilege of these terms and conditions by

the Bank will not be deemed as a waiver of the relevant right, power or privilege. Any single or

partial exercise of the relevant right, power or privilege will not exclude separate or further exercise

of the relevant or any other right, power or privilege.

VII. Unless otherwise agreed by both parties, any matters not dealt with in these terms and conditions

will be dealt with in accordance with to the Confirmation / Confirmation Notice and the usual practice

of the Bank or court order or regulation.

VIII. When the Bank has to revise these terms and conditions by reason of any amendment of order and

regulations of the competent authorities, the Bank shall prominently publish an announcement in its

business premises. If the Customer does not agree with the revised terms, it shall terminate these

terms in accordance therewith.

IX. If the Customer dies, and if all beneficiaries of the Customer agree that the Investment Products

invested by the Customer remaining outstanding shall be dealt with by one of the beneficiaries, they

may request the Bank to deal with the succession of Investment Products in accordance with their

agreement and upon production of relevant documents and compliance of the reasonable

conditions of the Bank.

X. Upon settlement of Investment Products, it will be made in denominations of the relevant currency

such as Yen for the Japanese currency and rounded up to the nearest currency unit.

XI. Details of the products and relevant interests will be agreed subject to the relevant laws, regulations

of the competent authorities and this Agreement, Indicative Term Sheet and the Transaction Notice

for Investment Product / Confirmation Notice of Dual Currency Investment Contract or relevant

terms (or recordings confirming the transaction) entered into between the Bank and the Customer.

XII. Investment Products are not deposits subject to protection, and are not subject to the Deposit

Protection Scheme.

Article 27 Governing Law

This Agreement is governed by and construed in accordance with the laws of Hong Kong. If any

dispute arising from the regulated activities, the both parties shall take legal action such as

individual litigation, settlement and arbitration according to the Securities and Futures Ordinance

and its related applicable procedural rules.

Article 28 Declaration by the Customer



I. The Customer declares that the information given above is correct and complete, and authorizes

the Bank to perform the inspection it considers appropriate, including the conduct of any credit

checks on the Customer.

II. The Customer confirms that he/she has read and understood the relevant provisions for the

account opening and dealing in securities.

III. The Customer agrees with the relevant provisions. The Bank is entitled to change the relevant

provisions by giving not less than 30 days prior notice. Unless the Bank receives the notice for

closing the account from the Customer, the Customer shall be considered to have accepted the

provisions as amended.

IV. The Customer declares and confirms that he/she has been provided with the Risk Disclosure

Statement and the relevant provisions according to the language of his/her choice. The Customer

has reviewed the Risk Disclosure Statement, raised questions and taken independent advice.

V. The Customer understands that the opening of the account is subject to the Bank’s final

acceptance.

VI. The Customer has received and read all product documents, including but not limited to related

documents such as offering memorandum. The Customer also agrees to the terms of the product

documents and fully understands the risks involved in the investment of securities.



CHAPTER 4 TERMS AND CONDITIONS FOR SECURITIES TRADING

CTBC Bank Co., Ltd. whose principal place of business is situate at 28/F, Two International Finance

Centre, 8 Finance Street, Central, Hong Kong, is a licensed bank under the Banking Ordinance and

a registered institution under the SFO (CE No. ABM849) and shall carry on the Type 1 (dealing in

securities) and Type 4 (advising on securities) regulated activities. This Agreement provides for the

rights and obligations in the application, redemption and switching of securities for the above

account of the Customer andCTBC Bank Co., Ltd. Hong Kong Branch. This Agreement will become

legally binding after it is signed by the Customer.


I. Account Application Form

shall mean the personal account application form, which includes the basic information, brief

financial information, type of investment risks, settlement of account, declaration and signature as

well as related notes and declarations, or any supplement or amendment related to the account

application form completed and signed by the Customer, and the personal data and declaration

attached.

II. Trade Confirmation Form

shall mean the transactions in the actual subscription, switching or redemption of securities by the

Customer. The Bank shall prepare various forms of documents or electronic forms for various

transactions as evidence of the confirmation of transactions with the Customer.

III. Product Documents

shall mean, with respect to various securities transactions, the product related documents prepared

by the issuer, dealers and distributors, including but not limited to any subscription agreements,

placing memorandums, product prospectuses, offering documents, IPO prospectuses,

memorandums and articles of association, outline of operation, trust deeds, trust declarations,

limited partnership agreements, contracts, plans, constitutional documents, preliminary offering

documents, circulars, offering documents or explanatory memorandums, and any supplement or

memorandum of the above prepared in English, Chinese or other languages.

IV. Application for / Cancellation of Power of Attorney on Account Enquiry

shall mean the Customer authorizing the Bank to permit/cancel the use of Internet banking service

provided by the Bank through the Internet to third parties or other ways agreed between the

Customer and the Bank, for making enquiry of relevant account information or related transactions.

V. Securities

shall include the bonds, equities, bills, trust funds, mutual funds, funds, collective investment

schemes, partnership interests, shares, exchange traded funds, receipts and commercial bills

issued for or by any governmental institutions, body corporate or unincorporated associations and

for all intents and purposes has the same meaning as defined in the SFO.

VI. Transaction



shall include relevant transaction of operations and relevant matters related to the subscription,

redemption and switching of securities by the Customer.

VII. Money

shall include the subscription money, switching money, redemption money, tax, fee, and

commission upon the subscription, switching or redemption of securities by the Customer.

VIII. Price

shall mean the total price upon the subscription, switching, or redemption of securities by the

Customer.

IX. Settlement Account

shall mean the account at the Bank agreed between the Customer and the Bank for the purpose of

debit, transfer into or transfer from the account for transactions and other related transactions in

dealing, delivery, and settlement upon the subscription, switching, or redemption of securities.

Article 2 Transaction

I. The relevant money, price, name and type of the designated securities, and quantity of transactions

entered into by the Customer are set out in the Trade Application Form or other agreed forms of

documents or electronic forms prepared by the Bank, and subject to acceptance by the Bank.

II. Unless otherwise agreed in writing by the Bank, all instructions given by the Customer cannot be

changed, cancelled or withdrawn.

III. The Bank generally acts upon the instructions of the Customer. However, the Bank may reject any

unlawful or improper instructions of the Customer.

IV. The Bank does not give any assurance for the successful subscription, purchase or acquisition of

the underlying securities, or that trading of any securities will be executed. Unless it is directly and

solely caused by the negligence or wilful misconduct of the Bank, the Bank will not be liable

(including but not limited to contractual or tortious liabilities) for any loss, expense or damage

suffered by the Customer arising from the Bank’s non-performance of obligations under this

Agreement due to any other reasons.

V. Unless otherwise provided, the Customer shall open one or more investment accounts with the

Bank so as to hold or prepare to hold all or part of underlying securities or related interests issued,

distributed, or allocated. In addition, the Customer shall open one or more settlement accounts with

the Bank at the request of the Bank for the debit of relevant amount, transfer into or transfer from

such accounts upon dealing, delivery, and settlement of transactions in the subscription, switching

or redemption of securities.

VI. The Customer agrees and accepts that the relevant investment account shall be under a master

account of the Bank for which a sub-account is maintained in the records of the Bank. The

underlying securities from such master account and the interests deriving therefrom may be

co-mingled with the securities and interests of other customers of the Bank (but will not be

co-mingled with the cash or securities of the proprietary trading account of the Bank). Under such



circumstances, the Customer is entitled to share the underlying securities as applied with other

customers of the Bank in the same proportion.

VII. The Customer and the Bank shall jointly comply with the laws related to trading and the relevant

regulations applicable to the securities. If such securities are trust funds, mutual funds, funds,

collective investment schemes, etc., the Customer shall also comply with regulations of such

securities or fund manager or related institutions on the following:

(I) trading on selected time or short term trading;

(II) prices for subscription, redemption and switching, timing, method, calculation of net asset

value, allocation of revenue, payment of fees;

(III) matters relating to the operation of the securities.

VIII. If the Bank receives any notices from the relevant securities regarding increase (decrease) in

capitalization, liquidation, changes (including name, denomination, valuation method, and

investment amount), merger, dissolution, suspension in settlement, difficulty in operation, or other

matters beyond the control of the Bank, or if the Bank cannot complete the transaction for the

Customer or if the Bank considers having difficulties in completing the transaction by reason of laws

or regulations of the issuers (including, but not limited to, the restriction in objectives for use of

proceeds, revocation as a result of not meeting the statutory subscription amount, over subscription,

or other legal prohibitions on investment), the Customer agrees to deal with the relevant matters

accordingly or terminate the transaction and bear the profit and loss arising therefrom.

IX. Any change in the application of proceeds, amount (subscription, switching, or redemption),

underlying (securities), settlement account (including but not limited to debiting, change of date on

transfer from or transfer to such accounts, suspension or resumption of debit), registration of

personal information of the Customer, specimen signature or seal of the Customer shall be made in

the manner prescribed by the Bank (including Trade Application Form or other means provided by

the Bank, such as other documents, phone banking, or internet banking). Changes in any of the

above items will become effective only if made not later than 3 business days of the Bank and the

relevant financial institutions before the date of debit of relevant amount.

X. The income or interests arising from the subscription or switching of securities will be allocated by

the Bank according to the relevant allocation benchmark day in proportion to the interests held by

the Customer.

XI. The Customer who subscribes securities by monthly installment may authorize the Bank (such

authorization has to be accepted by the Bank) to deduct the subscription amount, subscription fee

and other applicable charges by way of automatic transfer from the designated settlement account

every month on each subscription date. (Deduction will be processed on the following business day

if holiday). In case of the Bank fails to process on the appointed date due to computer system

malfunctions or other reasons beyond its control, the Customer agrees to postpone such deduction

to the next available business day after above-mentioned obstacle has been removed.

XII. The Customer should maintain sufficient fund in the designated settlement account at least one

business day before the appointed monthly installment investment date until such fund being

deducted by the Bank. If the account balance fails to meet the applicable amount and results in 3

continuous unsuccessful deductions on appointed investment date, the Bank may suspend the said

investment at its discretion.



XIII. If the balance of the designated settlement account fails to meet the monthly installment investment

amount set by the Customer, then deductions shall be processed in the priority in accordance with

the Bank’s deduction procedure.

XIV. On the date of subscription of the Securities, the Customer should maintain sufficient transaction

amount in the designated settlement account. Such transaction amount should include but not

limited to the investment amount, commission and related transaction fees and taxes (if any). If

the account balance fails to meet the transaction amount, the Bank shall terminate the transaction

at its discretion. For the avoidance of doubt, the Bank will not be liable for any loss, expense or

damage suffered by the Customer (if any) arising from the Bank’s non-performance of subscription.

XV. Upon the Bank’s application for redemption or disposal of securities within and outside Hong Kong,

any proceeds received will be paid to the Customer after deducting the relevant expenses. When the

Bank receives the Customer’s instructions to dispose of or redeem the total number of units held by

the Contracting Party, if there are unsold assets or units derived from the original number of units or

if the amount or units of the instructions for disposal or redemption is less than the minimum disposal

or redemption quantity of the securities, the Bank may directly apply for disposal or redemption

without notice to the Customer upon receipt of notice about such assets from the issuer or related

institutions within or outside Hong Kong or upon the Bank aggregating with the securities or units to

be disposed of or redeemed by other customers of the Bank so as to reach the minimum quantity,

and pay the remaining amount to the Customer upon receipt of the proceeds and deducting the

relevant expenses.

XVI. If the securities are mandatorily redeemed or disposed of in full as required by the relevant laws

within and outside Hong Kong or the regulations of the related institutions, the Customer agrees that

the Bank shall act in accordance with such law and regulations. If the securities are mandatorily

redeemed or disposed of as a result of liquidation, the Customer agrees that after the Bank’s receipt

of the proceeds and deducting the related expenses, the Bank will directly credit the net proceeds

into the settlement account of the Customer or other account agreed with the Bank.

XVII. Upon partial redemption or disposal of securities by the Customer, the accrued amount as recorded

in the books will be deducted in proportion to the units redeemed or sold by the Customer.

XVIII. With the consent of the Bank, the securities may be switched to other securities issued by the same

issuer or manager which are available for dealing at the office of the Bank.

XIX. Upon partial switching of the securities, the amount of securities of the Customer will be

proportionally deducted, and such deducted amount will be used to acquire new securities.

XX. In allocating the units of same marketable securities acquired to each customer of the Bank, if there

are remaining units which cannot be divided, the Bank will allocate the same in accordance with its

operation standard or practice, similar to its allocation of proceeds upon redemption.

XXI. The Customer understands and agrees to pay various fees of the issuer, manager, related

institutions or distributors as set out in the explanatory memorandum of various securities (including,

but not limited to, manager’s fee, custody fee, handling fees for switching and redemption) and to

the various trading restrictions (including, but not limited to, subscription, switching, redemption, and

short term trading).

XXII. All unsettled matters will be dealt with according to the provisions for this Agreement and settlement

account regulations of the Bank.



XXIII. Without prejudice to the generality of the foregoing, the Bank may arrange transaction(s) to be

effected through an intermediate broker who may an affiliate company, Associates, its servants and

agents, or such other intermediate broker as designated by the Bank from time to time. The Bank

will exercise reasonable care in the selection of intermediate brokers and other agents employed by

Bank in connection with the performance of its obligations in accordance with this Agreement.

However, the Bank nor its directors, officers or employees will be liable to the Customer for any act

or omission of an intermediate broker so selected and appointed except for gross negligence, willful

default or fraud on the Bank’s part in the selection and appointment of such intermediate broker.

XXIV. By reason of trading restraints on the SEHK or any other relevant recognised stock exchange and/or

rapid changes in the prices of Securities, there may, on occasions and despite the Bank’s

reasonable endeavors, be delay in making prices or in dealing at any specific time or “at best” or “at

market”. The Customer agrees in any event to accept and be bound by dealings which take place

on the Customer’s behalf and agrees that the Bank shall not be liable for any loss arising by reason

of its failing, or being unable, to comply with any terms of an order of the Customer.

XXV. Where the Bank is unable to perform any order in full, it is entitled to effect partial performance only

without prior consent from the Customer.

XXVI. Unless the Customer gives specific Instructions to the Bank to the contrary, the Customer

acknowledges that all orders or requests are good for the day only and that to the extent unfulfilled

they will lapse at the end of the official trading day of the relevant market.

Article 3 Authorization and Agency

I. The Customer appoints and authorizes the Bank as its agent to execute, including the contracts

related to the creation of securities transaction, to manage and deal with the securities subscribed

for or switched, to receive income from the securities, to negotiate with related institutions of the

securities (including, but not limited to, the issuer and the dealer), to register the securities in the

name of the Bank or names agreed with the related trading institutions, to act as the manager of the

securities, to decide on the execution and exercise of rights and restrictions related to the securities,

to act in accordance with the special instructions of the Customer as accepted by the Bank, and to

execute other matters related and essential to the matters above.

II. Although the Bank is in principle the agent of the Customer, the Bank may still, according to its

judgment as appropriate refuse to accept or execute the matters provided in this Agreement or

which may be detrimental to the Bank.

III. The Customer agrees that the Bank may at any time provide services related to this Agreement to

other customers of the Bank without informing the Customer. The Bank can represent the Customer

and other customers of the Bank at the same time to trade with issuers, dealers or other relevant

institutions.

Article 4 Agent’s Commission

The Customer understands and acknowledges that the Bank is authorized and appointed by the Customer as agent

to conduct securities related trading in accordance with this Agreement, and may collect fees from the counterparty

as agent’s commission. In fund transaction, the fund issuer may issue different classes of shares based on different

fee structure. Generally, a subscription fee will be charged upon subscription of class A shares, while a CDSC



(Contingent Deferred Sales Charge) will be charged upon redemption of class B shares.

I. The Bank will collect commission listed hereinafter when the Customer invests in class A shares

(I) Subscription Fee:

i. Commission rate:

Up to 5% for unit trust funds and mutual funds. Notwithstanding, if the transaction was deemed

to be short-term trading by the fund house, higher front-end load may applied in accordance with

the fund house’s policy.

ii. Commission calculation = Transaction amount x commission rate.

iii. Paying time and method:

The amount should be paid in full by the Customer to the Bank upon subscription

(II) Switching Fee:

i. Commission rate :0%~1%

ii. Commission calculation =Transaction amount x commission rate

iii. Paying time and method:

Applies when Customer switch holdings .Deducted by the fund house from the transaction

amount and pay to the Bank.

iv. Additional switching fee may apply and collected by fund house in accordance with the fund

house’s policy.

(III) Rebate

i. Commission rate: 0% ~ 1% annually

ii. Commission calculation = NAV x commission rate

iii. Paying time and method: Paid monthly, quarterly, semi-annually, or annually by counterparty or

fund house to the Bank pursuant to each fund house’s policy. It is included in the fee structure

stipulated in the prospectus and deducted by the fund house from the relevant fund’s NAV in a

daily basis.

II. Commission applies for funds with different pricing structure or class B shares are set in the special

arrangement between the Customer and the Bank.

III. Unless stated otherwise, commission applies for structured product and Securities is set in the

special arrangement between the Customer and the Bank.

IV. Changes in the fee shall be notified by posting on the Bank’s website or business places.

Article 5 Responsibilities and Conflict of Interest

I. The Customer agrees that the Bank itself or its subsidiaries, related companies, nominees or agents

may have material interests in any securities transaction. The Bank may still represent or act as an

agent of the Customer to conduct related transactions without restrictions.

II. When dealing with securities, all losses arising from settlement, exchange rate, movement in

interest rate or other market environment factors and risks, or the acts or omission of the operators

of the funds, such as the issuers or the fund managers, or the related institutions, such as the

custodians within and outside Hong Kong, nominees, investment advisers, brokers, certification

authorities, accountants and lawyers will be solely borne by the Customer.

III. The Bank does not assume any liability for any damage, loss or moratorium arising from natural

disaster, commotion, war, riot or the seizure, nationalization, forfeiture, destruction or other acts by



foreign government, supervisory institutions or political parties, or any change in the laws of the

jurisdictions of the securities or their interpretation or application, or other force majeure events not

attributable to or beyond the control of the Bank.

IV. The Customer agrees and authorizes the Bank to accept and receive from any issuer, dealer and /

or other brokers, dealers or persons any rebate, subsidy, commission, discount, remuneration, profit,

gain and emolument derived from the dealing and application for subscription of the underlying

securities.

V. The Customer agrees and authorizes the Bank to accept on behalf of the Customer all goods and

services from the brokers and dealers engaging in the purchase, disposal or dealing of securities,

including but not limited to research and advisory services, economic and political analysis, portfolio

analysis (including assessment and performance appraisals), market analysis, data and quotation

services, computer hardware and software related to the services above, settlement and custody

services as well as publications related to investment.

VI. As to the exercise of related rights derived from the subscription or switching of securities by the

Customer, including but not limited to the voting rights of the shareholders or the beneficiaries in

meetings, exercise of right in redemption, switching, or subscription, if the Bank has notified the

Customer in respect thereof within a reasonable timeline in a reasonable manner, or the Customer

fails to give express and related instructions or allow the Bank reasonable time to prepare to act, the

Customer agrees and authorizes the Bank to make decision on behalf of the customer in a manner

the Bank considers appropriate. The Customer will solely accept any detriments arising therefrom.

VII. Unless otherwise acting pursuant to applicable laws or the instructions of the competent authorities,

the Bank does not have to take legal action such as individual litigation, settlement and arbitration

arising from the subscription or switching of securities by the Customer.

VIII. Notwithstanding that the Customer may have informed the Bank of any of his/her investment

objectives, the Customer shall make his own independent judgment of the nature of securities as

well as the financial position and creditworthiness of the related institutions such as the issuers and

the dealers, and shall be solely responsible for the risks.

Article 6 Undertaking and Declaration

The Customer undertakes and declares as follows:

I. The Customer is aged over 18, and is not a citizen or resident of the United States of America

or Canada pursuant to the securities or taxation regulations of the United States of America or

Canada.

II. The Customer represents that he/she is not engaged or employed by any licensed

corporation or registered institutions engaging in the regulated activities as provided in the

Securities and Futures Ordinance, otherwise the Customer shall provide to the Bank the

relevant consent of such institution or employer. If there is any change in respect of such

engagement or appointment, he/she will inform the Bank immediately.

III. The Customer declares that it will not acquire or hold the underlying securities that are

beneficially owned by US persons or acquire or hold the underlying securities on the account

of US persons or perform any act in breach of any applicable laws.

IV. The Customer fully understands and agrees the risks involved in the subscription or switching



of the underlying securities. The application letters, application forms, agreements and

related documents signed are all entered into at the sole decision of the Customer whether or

not the Customer has obtained relevant advice from the Bank. The Customer also completely

understands and agrees that the advice or commentary given by the Bank to the Customer

(whether or not given at the request of the Customer ) are for reference only.

V. The Customer declares that all information, declaration and warranties provided or given by

the Customer in the account opening application, trading confirmation or other related

documents or media are true and accurate.

VI. The Customer has disclosed and reported to the Bank the necessary information and

documents which may affect the Bank in deciding whether or not to act as the agent of the

Customer according to the terms of this Agreement.

VII. If there is any major change to the information provided or given by the Customer in this

Agreement or related documents and media, the Customer shall inform the Bank immediately.

The Bank, after considering the change of information related to the Customer, reserves its

right whether or not to continue to act as the agent of the Customer.

VIII. The Customer undertakes that he/she will, at the reasonable request of the Bank or when

required for trading purposes, continue to execute or issue any relevant application, deed,

document and comply with the requirements for implementation or execution of this

Agreement.

Article 7 Assignment

Unless otherwise agreed between the Customer and the Bank in writing and in advance, the

Customer shall not assign his/her rights and obligations under this Agreement. The Customer shall

not create security over the relevant rights in favour of third party.

Article 8 Dealing of securities through phone banking, Internet banking and other means

If the Customer instructs the Bank to deal with the securities (subscription, redemption and

switching) through phone banking, Internet banking or other means, the Customer agrees that the

selected means of services shall be governed by relevant provisions in Chapter 2 and the following

provisions (the terms not related to the means of service selected are temporarily not applicable

after signing of this Agreement):-

I. The use of phone banking, Internet banking or other means by the Customer to place

instructions of various transactions, including, but not limited to various subscription,

redemption, switching, movement or enquiry must enter into related service contract with the

Bank first or obtain the consent of the Bank, and obtain the password designated by the

Customer and confirmed by the trustee.

II. The use of the said service by the Customer to deal with securities through phone banking,

Internet banking or other means shall require verification of identity by the Bank with the

password. The Customer should keep the password confidential. The Bank only provides

services in accordance with instructions verified with the correct password. Under



circumstances not being legally authorized by the Customer, the Customer shall immediately

inform the trustee to suspend such service. Prior to the receipt of notice by the Bank, the use

of such service by any third party will still be binding. Except with the willful default or gross

negligence of the Bank, the Contracting Party shall not defend the Bank by reason of the

illegal authorization of the password.

III. Upon receipt of instruction from the Customer after verification of identity with the correct

password, the Bank shall provide the services under this Agreement. If the Bank unilaterally

considers the provision of services will result in a breach of relevant laws by the Bank, the

Bank shall not be obliged to provide such service.

IV. When the Customer places any instructions of various transactions by phone banking,

Internet banking or other means, the principle is that such instructions should be given within

the business hours of the Bank. If there is any force majeure event or circumstances not

attributable to the Bank, such as interruption of electricity supply, fixed line, disruption in

Internet communication, congestion, and hacking causing delay in execution or inability to

complete instructions or transactions, the Customer agrees to authorize the Bank to process

the transaction on the Bank’s sole discretion, and the Bank shall not be responsible for any

loss incurred therefor..

V. If any service selected by the Customer is not dealt with as a result of interruptions, such

service shall be handled by other agreed methods or dealt with by the Customer in person at

the office of the Bank.

VI. The Customer and the Bank shall maintain proper records related to the service, and the

records maintained by the Bank shall be deemed to be accurate.

VII. If the Customer intends to change the password, the Customer shall deal with the change in

writing, through the internet banking, phone banking, or other means agreed with the Bank.

Such change shall only become effective after it is confirmed and agreed by the Bank.

VIII. The Customer shall give notice in writing to the Bank or by other means agreed with the Bank

to terminate all or part of the service. The Bank may also inform the Customer at any time to

suspend the provision of all or part of the service, provided any transactions already executed

or booked but not yet cancelled before the termination becomes effective shall remain valid.

The above termination shall be confirmed by the Bank with the actual receipt of the

termination notice and completion of related procedures before becoming effective.

IX. If the service means originally selected by the Customer has to be changed upon

implementation of a system by the Bank or pursuant to the laws and regulations, the Bank

has to inform the Customer to deal with the relevant matters separately, and apply the related

provisions when the new service mean is activated. The above conditions shall also be

applicable in case of application for change of service means by the Contracting Party.

Article 9 Miscellaneous

I. The Customer shall obtain the consent of the Bank in switching between products/services used by

him/her and that the relevant conversion method and the calculation standard for switching will be

dealt with according to the provisions for the switching of products/services or the provisions of the

Bank.



II. With respect to the notices, reports, reconciliation statements, settlement notes or other statements

related to the securities transactions including, but not limited to, subscription, redemption, disposal,

switching, addition, divestment or repatriation of securities, they will be deemed as delivered five

days from the date of posting or issue by the Bank, without prejudice to evidence of earlier delivery.

III. The above notices, reports, reconciliation statements, settlement notes, or other related statements

shall be deemed as accepted if no objection thereto is raised by the Customer within 14 days from

the date of delivery, and the Bank’s responsibility for the matters recorded is deemed to be

discharged accordingly.

IV. If the Bank solicits the sale of or recommend any financial product to the Customer, the financial

product must be reasonably suitable for the Customer having regard to the Customer’s financial

situation, investment experience and investment objectives. No other provision of this Agreement or

any other document the Bank may ask the Customer to sign and no statement the Bank may ask

the Customer to make derogates from this paragraph.

Note: “Financial product” means any securities, futures contracts or leveraged foreign exchange

contracts as defined under the Securities and Futures Ordinance (Cap.571, Laws of Hong

Kong)(“SFO”). Regarding “leveraged foreign exchange contracts”, it is only applicable to those

traded by persons licensed for Type 3 regulated activity.

Article 10 Declaration by the Customer

I. The Customer declares that the information given above is correct and complete, and authorizes

the Bank to perform the inspection it considers appropriate, including the conduct of any credit

checks on the Customer.

II. The Customer confirms that he/she has read and understood the relevant provisions for the

account opening and dealing in securities.

III. The Customer agrees with the relevant provisions. The Bank is entitled to change the relevant

provisions by giving not less than 30 days prior notice. Unless the Bank receives the notice for

closing the account from the Customer, the Customer shall be considered to have accepted the

provisions as amended.

IV. The Customer declares and confirms that he/she has been provided with the Risk Disclosure

Statement and the relevant provisions according to the language of his/her choice. The Customer

has reviewed the Risk Disclosure Statement, raised questions and taken independent advice.

V. The Customer understands that the opening of the account is subject to the Bank’s final

acceptance.

VI. The Customer has received and read all product documents, including but not limited to related

documents such as offering memorandum. The Customer also agrees to the terms of the product

documents and fully understands the risks involved in the investment of securities.



Annexure 1

Risk Disclosure Statements

1. Risk of Securities Trading

The Customer acknowledges that the prices of Securities fluctuate, sometimes dramatically. The price of a

Security may move up or down, and may become valueless. It is as likely that losses will be incurred

rather than profit made as a result of buying and selling the Securities.

2. Risk of Trading Growth Enterprise Market Stocks

2.1 GEM Board stocks involve a high investment risk. In particular, companies may list on GEM Board with

neither a track record of profitability nor any obligation to forecast future profitability. GEM Board stocks

may be very volatile and illiquid.

2.2 The Customer should make the decision to invest only after due and careful consideration. The greater

risk profile and other characteristics of GEM Board mean that it is a market more suited to professional and

other sophisticated investors.

2.3 Current information on GEM Board stocks may only be found on the internet website operated by the

Exchange. GEM Board Companies are usually not required to issue paid announcements in gazetted

newspapers.

2.4 The Customer should seek independent professional advice if the Customer is uncertain of or has not

understood any aspect of this Risk Disclosure Statement or the nature and risks involved in trading GEM

Board stocks.

3. Trading of Nasdaq-Amex Securities

The Securities under the Nasdaq-Amex Pilot Program (“NAPP”) operated by the Exchange are aimed at

sophisticated investors. The Customer should consult his dealers and become familiarized with the NAPP

before trading in the NAPP Securities. The Customer should be aware that the NAPP Securities are not

regulated as a primary or secondary listing on the Main Board or the GEM Board.

4. Risk of Foreign Securities Trading

Foreign Securities carry additional risks not generally associated with Securities in the domestic market.

The value or income of foreign Securities may be more volatile and could be adversely affected by changes

in currency rates of exchange, foreign taxation practices, foreign laws, government practices, and

regulations and political events. The Customer may find it more difficult to liquidate investments in foreign

Securities where they have limited liquidity in the relevant market. Foreign laws, government practices and

regulations may also affect the transferability of foreign Securities. Timely and reliable information about

the value of the extent of the risks of foreign Securities may not be readily available at all times.

5. Risk of Margin Trading

The risk of loss in financing a Transaction by deposit of collateral is significant. The Customer may sustain

losses in excess of the Customer’s cash and any other assets deposited as collateral with the Bank.

Market conditions may make it impossible to execute contingent orders, such as “stop-loss” or “stop-limit”



orders. The Customer may be called upon at short notice to make additional margin deposits or interest

payments. If the required margin deposits or interest payments are not made within the prescribed time,

the Customer’s collateral may be liquidated without the Customer’s consent. Moreover, the Customer will

remain liable for any resulting deficit in the Customer’s Account and interest charged on the Customer’s

Account. The Customer should therefore carefully consider whether such a financing arrangement is

suitable in light of the Customer’s own financial position and investment objectives.

6. Trading of Asset Linked Products

6.1 An asset linked product:-

6.1.1 is an option with an underlying asset which is traded on an Exchange or otherwise;

6.1.2 pays a cash return with a predetermined yield if the price/level of the underlying asset remains at or

above the strike price/level or if the underlying asset occurs (as the case may be) on the price/level

fixing date;

6.1.3 delivers shares/units of the underlying asset if the price/level of the underlying asset falls below the

strike price or if the underlying asset does not occur at maturity (as the case may be);

6.1.4 if shares/units of the underlying asset are delivered at maturity, the value of such shares/units may

be less than the original amount of investment; and

6.1.5 is not to be confused with other short term investments such as traditional time deposits which are

principal protected and which the Customer will be entitled to an interest at maturity as there is a

possibility of the delivery of the shares/units in the underlying asset and therefore is generally not

principal protected except where expressly stated otherwise.

6.2 The following serves to highlight some features which normally appear in an asset linked product and the

risks involved in establishing it:-

6.2.1 The interest return on the asset linked product will depend on the movements or occurrence of the

underlying asset (as the case may be) and may therefore be higher or lower than the interest return

on a traditional time deposit. If the structure of the relevant asset linked product is such that a

negative interest rate results from extreme fluctuation or non-occurrence of the underlying asset (as

the case may be), the Customer may not be able to receive the entire principal amount of the

relevant asset linked product upon its maturity.

6.2.2 If the structure of the relevant asset linked product is such that the principal and interest return may

be payable to the Customer in a currency which is different from the base currency of the relevant

asset linked product or in the form of another asset, then although such alternate currency or asset

was pre-specified at the time the relevant asset linked product was established, the Customer may

still be subject to a loss arising from the decline in the exchange rate of the alternate currency in

terms of the base currency or the decline in the value of the asset delivered to the Customer.

6.2.3 By establishing an asset linked product, the Customer is taking a view on the direction of fluctuation

or occurrence of the underlying asset (as the case may be), based on the Customer’s own

assessment and judgment.

6.2.4 Unless otherwise agreed by the Bank and subject to any conditions the Bank may impose, the

principal amount of the asset linked product may not be withdrawn at any time prior to its maturity



date. In such circumstances, the Customer shall be fully liable to all potential losses, costs and

expenses resulted therefrom. The Customer may not be able to receive the entire principal amount

of the Asset Linked Product or even incur extra loss.

6.2.5 If the relevant asset linked product is purchased on a leveraged basis, the Customer should note

that the risk of loss can be substantial. The Customer may sustain a total loss of the principal

amount and any additional amounts that the Customer used to establish or maintain the relevant

leveraged asset linked product. If the underlying asset moves against the Customer, the Customer

may be called upon to deposit a substantial amount of additional funds, on short notice, in order to

maintain the relevant leveraged asset linked product. If the Customer does not provide the

required funds within the prescribed time, the Customer’s position may be liquidated at a loss, and

the Customer will be liable for the resulting deficit. Under certain market conditions, it may be

difficult or impossible to liquidate such a position. In these circumstances, the Customer’s total loss

may not be limited to the principal amount and additional amounts the Customer used to establish

and maintain the relevant leveraged asset linked product alone. The high degree of leverage can

work against the Customer as well as for the Customer. The use of leverage can lead to large

losses as well as gains.

6.2.6 The Customer should therefore firstly, carefully read, study and fully understand the relevant

offering documents and constitutive documents and the structure of such investment before the

Customer instructs the Bank to establish an asset linked product and secondly, carefully consider

whether such an establishment is suitable in light of the Customer’s own financial position and

investment objectives. If the Customer provides the irrevocable Instructions to the Bank, the

Customer does so at the Customer’s own risk and have not relied on its advice or recommendation.

7. Risk of Trading Futures and Option

The risk of loss in trading futures contracts or options is substantial. In some circumstances, the Customer

may sustain losses in excess of the Customer’s initial margin funds. Placing contingent orders, such as

"stop-loss" or "stop-limit" orders, will not necessarily avoid loss. Market conditions may make it impossible

to execute such orders. The Customer may be called upon at short notice to deposit additional margin

funds. If the required funds are not provided within the prescribed time, the Customer’s position may be

liquidated. The Customer will remain liable for any resulting deficit in the Customer’s Account. The

Customer should therefore study and understand futures contracts and options before the Customer trades

and carefully considers whether such trading is suitable in the light of the Customer’s own financial position

and investment objectives. If the Customer trades options the Customer should familiar with the of

exercise and expiration procedures and the rights and obligations upon exercise or expiry of such options.

8. Trading of Bonds

All investments carry risk. Bonds are no exception. The Customer understands that the price of bonds

can and does fluctuate, sometimes dramatically, and that any individual bond may experience upward or

downward movements, and may even become valueless. The Customer acknowledges that it is as likely

that losses will be incurred rather than profit made as a result of buying and selling bonds. This is the risk

that the Customer is prepared to accept. The Customer shall take complete responsibility for any outcome

of buying and selling bonds and agrees not to hold the Bank responsible for any losses resulting from the

Customer’s trading strategy. The Bank will take due care according to its relevant internal procedure on

the selection of its nominee, broker, agent or any counter-party. The Customer acknowledges and accepts

all risks associated with bonds held by any such party. The Bank shall not be responsible for any damage

or loss arising from or in connection with such custody or action except for willful default or gross negligence

on its part. The Customer acknowledges that any subscription for or acquisition or purchase of any bonds



registered outside Hong Kong and the receipt and collection of income therefrom and other administrative

matters thereof may not be governed by Hong Kong laws. The Customer agrees to bear all risks relating

to the Customer’s Instructions to deal with all such bond which are not governed by Hong Kong laws.

9. Provision of an Authority to Hold Mail or to Direct Mail to Third Parties

If the Customer provides the Bank with an authority to hold mail or to direct mail to third parties, it is

important for the Customer to promptly collect in person all contract notes and statements of the Customer’s

Account(s) and review them in detail to ensure that any anomalies or mistakes can be detected in a timely

fashion.

10. Risks of Customer Assets Received or Held Outside Hong Kong

Customer assets received or held by the Bank outside Hong Kong are subject to the applicable laws and

regulations of the relevant overseas jurisdiction which may be different from the SFO and the rules made

thereunder. Consequently, such Customer assets may not enjoy the same protection as that conferred on

Customer assets received or held in Hong Kong.

11. Risk of Trading in Leveraged Foreign Exchange Contracts

The risk of loss in leveraged foreign exchange trading can be substantial. The Customer may sustain

losses in excess of its initial margin funds. Placing contingent orders, such as “stop-loss” or “stop-limit”

orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible

to execute such orders. The Customer may be called upon at short notice to deposit additional margin

funds. If the required funds are not provided within the prescribed time, the Customer’s position may be

liquidated. The Customer will remain liable for any resulting deficit in the Customer’s Account. The

Customer should therefore carefully consider whether such trading is suitable in light of the Customer’s own

financial position and investment objectives.

12. Risk of Providing an Authority to Re-pledge Customer’s Securities Collateral etc.

12.1 There is risk if the Customer provides the Bank with an authority that allows it to apply the Customer’s

Securities or Securities collateral pursuant to a Securities borrowing and lending agreement, re-pledge the

Customer’s Securities collateral for financial accommodation or deposit the Customer’s Securities collateral

as collateral for the discharge and satisfaction of its settlement obligations and liabilities.

12.2 If the Customer’s Securities or Securities collateral are received or held by the Bank in Hong Kong, the

above arrangement is allowed only if the Customer’s consent in writing is obtained. Moreover, unless the

Customer is a professional investor, the Customer’s authority must specify the period for which it is current

and be limited to not more than 12 months. If the Customer is a professional investor, these restrictions do

not apply.

12.3 Additionally, the Customer’s authority may be deemed to be renewed (i.e. without the Customer’s written

consent) if the Bank issues the Customer a reminder at least 14 days prior to the expiry of the authority, and

the Customer does not object to such deemed renewal before the expiry date of the Customer’s then

existing authority.

12.4 The Customer is not required by any law to sign these authorities. But an authority may be required by the

Bank, for example, to facilitate margin lending to the Customer or to allow the Customer’s Securities or

Securities collateral to be lent to or deposited as collateral with third parties. The Bank should explain to

the Customer the purposes for which one of these authorities is to be used.



12.5 If the Customer signs one of these authorities and the Customer’s Securities or Securities collateral are lent

to or deposited with third parties, those third parties will have a lien or charge on the Customer’s Securities

or Securities collateral. Although the Bank is responsible to the Customer for Securities or Securities

collateral lent or deposited under the Customer’s authority, a default by it could result in the loss of the

Customer’s Securities or Securities collateral.

12.6 A cash account not involving Securities borrowing and lending is available from the Bank. If the Customer

does not require margin facilities or do not wish the Customer’s Securities or Securities collateral to be lent

or pledged, do not sign the above authorities and shall ask to open this type of cash account.

13. Unit Trusts and Mutual Funds

13.1 The Customer understands that the Customer’s investments in the unit trusts and mutual funds involve risk

of loss to their principal. They are not bank deposits and are not endorsed or guaranteed by and do not

constitute obligations of the Bank or any of its subsidiaries. The prices of investments in the unit trust and

mutual funds can and do fluctuate, sometimes dramatically, and any individual investment in the unit trust

and mutual funds may experience upward or downward movements, and may even become valueless. In

certain circumstances, the Customer’s right to redeem or sell the Customer’s investments may be restricted.

It is as likely that losses may be incurred rather than profit made as a result of buying and selling

investments in the unit trust and mutual funds.

13.2 For guaranteed funds, the Customer understands and acknowledges that the Customer’s investment is

guaranteed by the guarantor(s) as specified in the offering documents. The Customer understands that in

order to have the Customer’s principal guaranteed, and/or protection as stated in the offering documents,

the Customer needs to maintain the Customer’s investment throughout the period as mentioned in the

offering documents. The Customer acknowledges that fund shares redeemed prior to maturity are subject

to investment risk including possible loss of the principal invested.

14. Risk of Investing in Exchange Traded Funds (“ETFs”) and Synthetic ETFs

14.1 Major Risks of ETFs

The major types of risks of ETFs (including synthetic ETFs) are highlighted below. Customers should bear

in mind that these risks apply to ETFs and also to investment products that invest in or are linked to the

performance of ETFs.

14.1.1 Market risk – Customers are exposed to the political, economic, currency, and other risks of a

specific sector or market related to the underlying index.

14.1.2 Liquidity risk – liquid secondary market may not exist for ETFs.

14.1.3 Tracking errors – changes in the net asset value of the ETFs may deviate from the performance of

the tracking index due to factors such as fees, expenses, liquidity of the index constituents, failure

of tracking strategy.

14.1.4 Passive investments – unlike other funds, ETFs are usually passively managed and will not adopt

defensive position against any market downturn.

14.1.5 Trading risk – ETFs may trade at premium or discount to its net asset value due to secondary

market trading factors such as market demand and liquity.

14.1.6 Potential conflicts of interest – the subsidiaries and affiliates of the ETF manager may also play a



role in the ETF which may give rise to potential conflicts of interest.

14.1.7 Concentration risks – ETFs may invest in a single country and sector.

14.1.8 Emerging market risk – ETFs with tracking index relating to emerging markets may be subject to a

greater risk of loss than investments in developed markets due to, among others, greater political,

economic, taxation and regulatory uncertainty risks.

14.1.9 Tax and other risks – like all investments, an ETF may be subject to tax imposed by the local

authorities in the market whose index it tracks and is subject to the risk of change in policy of the

reference market.

14.2 Additional Risks Applicable Specifically to Synthetic ETFs

Synthetic ETFs do not invest directly in the underlying assets which constitute the index but seek to obtain

an exposure to the economic gain / loss in the performance of the index (net of fees and charges) by

entering into derivatives contracts with counterparties. Therefore, synthetic ETFs have additional risk

when compared with ETFs of other replication strategies and Customer should be aware of the risks before

making an investment decision.

14.2.1 Credit risks arising from derivatives counterparties – Customers are exposed to the credit risk of

the derivatives counterparties. In the event of default by an counterparty, the ETF may be

suspended, and the shares of the ETF may not continue to trade. The ETF may ultimately be

terminated. Customers may suffer significant losses equal to the full value of the derivatives net

of collateral provided.

14.2.2 Potential concentration and contagion risks of counterparties – the derivatives counterparties are

predominantly financial institutions and this, in itself, may pose a concentration risk. Any

adverse event affecting the performance of a particular derivatives counterparty may also have a

negative impact on the performance of others due to the contagion effect.

14.2.3 Collateral risks – while some synthetic ETFs may hold, or have recourse to, collateral to mitigate

the exposure to credit risks of the derivatives counterparties, the collateral may not comprise any

constituent securities of the index. The collateral may also be concentrated in particular

market(s), sector(s) and /or securities issued by specific sovereign or public issuer(s) which may

not be related to the underlying index. Furthermore, when an ETF seeks to exercise its rights

against the collateral upon any default of counterparties, the market value of the collateral could

be substantially less than the amount secured if the market drops sharply before the collateral is

realized, thereby resulting in significant loss to the ETF.

14.2.4 Higher liquidity risk – higher liquidity risk is involved if the derivatives that a synthetic ETF invests

in do not have an active secondary market.

15. The Bank’s Liability

15.1 In accepting the Bank’s securities services hereunder, the Customer understands and agrees that except for

willful default or gross negligence on its part:-

15.1.1 The Bank assumes no duty to make or give advice or recommendations on any Securities;

15.1.2 If the Bank makes any such suggestions, whether or not at the Customer’s request, the Bank

assumes no responsibility whatsoever for any Securities or Transaction which may be made by the



Customer following such suggestions;

15.1.3 The Bank may hold positions in any Securities which may not be consistent with any advice given

by the Bank to the Customer and which may result in losses on the Customer’s part and the Bank

shall not be liable therefor; and

15.1.4 Any risks associated with any losses suffered as a result of the Bank’s entering into any

Transactions or establishing any Securities on the Customer’s behalf are for the Customer’s

Account absolutely.

16. Recommendations

16.1 The Customer acknowledges that this Risk Disclosure Statement does not purport to disclose all the risks

associated with and other significant aspects of a Security. In particular, investors of a particular class or

jurisdiction may be prohibited from purchasing some kinds of Securities. The Customer understands that

the Customer should ask questions, undertake the Customer’s own research and study on the nature of the

Securities and carefully read and fully understand the offering documents and the constitutive documents

and the additional risk disclosure statement of each individual Security before the Customer decides to

invest.

16.2 The Customer understands that the Customer should seek independent professional advice if the Customer

is uncertain of or have not understood any aspect of this Risk Disclosure Statement or the nature and risks

involved in making any Securities.

16.3 The Customer understands that the signing of this Risk Disclosure Statement is mandatory under the SFC

Code. The Customer understands that the Bank will not be able to effect the Customer’s Instructions to

deal in Securities if this statement is not signed and acknowledged by the Customer.

16.4 The Customer fully understands the contents of this Risk Disclosure Statement. The Customer

understands that the Bank is required under the Exchange rules and the SFC Code to ensure that the

Customer is provided with a copy of this Risk Disclosure Statement in a language, which the Customer

understands, signs and dates, which also contains the declaration by a staff of the Bank.



Annexure 2

CTBC Bank Co., Ltd., Hong Kong Branch (the “Bank”) Notice to Customers relating to the Personal Data (Privacy) Ordinance

(the "Ordinance")

1. From time to time, it is necessary for customers to supply the Bank with data in connection with the opening or continuation of accounts and the establishment or continuation of banking facilities or provision of banking services.

2. Failure to supply such data may result in the Bank being unable to open or continue accounts or establish or

continue banking facilities or provide banking services.

3. (c) It is also the case that data are collected from customers in the ordinary course of the continuation of the banking relationship, for example, when customers write cheques or deposit money.

4. The purposes for which data relating to a customer may be used are as follows: -

4.1. the daily operation of the services and credit facilities provided to customers;

4.2. conducting credit checks at the time of application for credit and at the time of regular or special reviews which normally will take place one or more times each year;

4.3. creating and maintaining the Bank’s credit scoring models;

4.4. assisting other financial institutions to conduct credit checks and collect debts;

4.5. ensuring ongoing credit worthiness of customers;

4.6. designing financial services or related products for customers' use;

4.7. marketing services, products and other subjects (please see further details in paragraph 7 below);

4.8. determining amounts owed to or by customers;

4.9. collection of amounts outstanding from customers and those providing security for customers'

obligations;

4.10. complying with the obligations, requirements or arrangements for disclosing and using data that apply to the Bank or any of its branches or that it is expected to comply according to:

4.10.1. any law binding or applying to it within or outside the Hong Kong Special Administrative

Region existing currently and in the future (e.g. the Inland Revenue Ordinance and its provisions including those concerning automatic exchange of financial account information);

4.10.2. any guidelines or guidance given or issued by any legal, regulatory, governmental, tax,

law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers within or outside the Hong Kong Special Administrative Region existing currently and in the future (e.g. guidelines or guidance given or issued by the Inland Revenue Department including those concerning automatic exchange of financial account information);

4.10.3. any present or future contractual or other commitment with local or foreign legal,

regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers that is assumed by or imposed on the Bank or any of its branches by reason of its financial, commercial, business or other interests or activities in or related to the jurisdiction of the relevant local



or foreign legal, regulatory, governmental, tax, law enforcement or other authority, or self-regulatory or industry bodies or associations;

4.11. complying with any obligations, requirements, policies, procedures, measures or arrangements for

sharing data and information within the group of the Bank and/or any other use of data and information in accordance with any group-wide programmes for compliance with sanctions or prevention or detection of money laundering, terrorist financing or other unlawful activities;

4.12. enabling an actual or proposed assignee of the Bank, or participant or sub-participant of the Bank's

rights in respect of the customer to evaluate the transaction intended to be the subject of the assignment, participation or sub-participation; and

4.13. purposes relating thereto.

5. Data held by the Bank relating to a customer will be kept confidential but the Bank may provide such

information to the following parties for the purposes set out in paragraph 4 above:

5.1. any agent, contractor or third party service provider who provides administrative, telecommunications, computer, payment or securities clearing or other services to the Bank in connection with the operation of its business;

5.2. any other person under a duty of confidentiality to the Bank including a group company of the Bank

which has undertaken to keep such information confidential;

5.3. the drawee bank providing a copy of a paid cheque (which may contain information about the payee) to the drawer;

5.4. credit reference agencies, and, in the event of default, to debt collection agencies;

5.5. any person to whom the Bank or any of its branches is under an obligation or otherwise required to

make disclosure under the requirements of any law binding on or applying to the Bank or any of its branches, or any disclosure under and for the purposes of any guidelines or guidance given or issued by any legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers with which the Bank or any of its branches are expected to comply, or any disclosure pursuant to any contractual or other commitment of the Bank or any of its branches with local or foreign legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers, all of which may be within or outside the Hong Kong Special Administrative Region and may be existing currently and in the future;

5.6. any actual or proposed assignee of the Bank or participant or sub-participant or transferee of the

Bank's rights in respect of the customer; and

5.7. 5.7.1. the Bank’s group companies; 5.7.2. third party financial institutions, insurers, credit card companies, securities and

investment services providers; 5.7.3. third party reward, loyalty, co-branding and privileges programme providers; 5.7.4. co-branding partners of the Bank and the Bank’s group companies (the names of such

co-branding partners can be found in the application form(s) for the relevant services and products, as the case may be);

5.7.5. charitable or non-profit making organisations; and 5.7.6. external service providers (including but not limited to mailing houses,

telecommunication companies, telemarketing and direct sales agents, call centres, data processing companies and information technology companies) that the Bank engages for the purposes set out in paragraph 4/4.7 above.

Such information may be transferred to a place outside Hong Kong.

6. With respect to data in connection with mortgages applied by a customer (whether as a borrower, mortgagor

or guarantor and whether in the customer’s sole name or in joint names with others) on or after 1 April 2011, the following data relating to the customer (including any updated data of any of the following data from time to time) may be provided by the Bank, on its own behalf and/or as agent, to a credit reference agency:



(i) full name; (ii) capacity in respect of each mortgage (as borrower, mortgagor or guarantor, and whether in the

customer’s sole name or in joint names with others); (iii) Hong Kong Identity Card Number or travel document number; (iv) date of birth; (v) correspondence address; (vi) mortgage account number in respect of each mortgage; (vii) type of the facility in respect of each mortgage; (viii) mortgage account status in respect of each mortgage (e.g., active, closed, write-off (other than due

to a bankruptcy order), write-off due to a bankruptcy order); and (ix) if any, mortgage account closed date in respect of each mortgage.

The credit reference agency will use the above data supplied by the Bank for the purposes of compiling a count of the number of mortgages from time to time held by the customer with credit providers in Hong Kong, as borrower, mortgagor or guarantor respectively and whether in the customer’s sole name or in joint names with others, for sharing in the consumer credit database of the credit reference agency by credit providers (subject to the requirements of the Code of Practice on Consumer Credit Data approved and issued under the Ordinance).

7. USE OF DATA IN DIRECT MARKETING The Bank intends to use a customer's data in direct marketing and the Bank requires the customer's

consent (which includes an indication of no objection) for that purpose. In this connection, please note that: 7.1 the name, contact details, products and services portfolio information, transaction pattern and

behaviour, financial background and demographic data of a customer held by the Bank from time to time may be used by the Bank in direct marketing;

7.2 the following classes of services, products and subjects may be marketed:

(1) financial, insurance, credit card, banking and related services and products; (2) reward, loyalty or privileges programmes and related services and products; (3) services and products offered by the Bank’s co-branding partners (the names of such

co-branding partners can be found in the application form(s) for the relevant services and products, as the case may be); and

(4) donations and contributions for charitable and/or non-profit making purposes;

7.3 the above services, products and subjects may be provided or (in the case of donations and contributions) solicited by the Bank and/or:

7.3.1. the Bank's group companies; 7.3.2. third party financial institutions, insurers, credit card companies, securities and investment

services providers; 7.3.3. third party reward, loyalty, co-branding or privileges programme providers; 7.3.4. co-branding partners of the Bank and the Bank's group companies (the names of such

co-branding partners can be found in the application form(s) for the relevant services and products, as the case may be); and

7.3.5. charitable or non-profit making organisations;

7.4 in addition to marketing the above services, products and subjects itself, the Bank also intends to provide the data described in paragraph 7/7.1 above to all or any of the persons described in paragraph 7/7.3 above for use by them in marketing those services, products and subjects, and the Bank requires the customer's written consent (which includes an indication of no objection) for that purpose;

7.5 The Bank may receive money or other property in return for providing the data to the other persons

in paragraph 7/7.4 above and, when requesting the customer's consent or no objection as described in paragraph 7/7.4 above, the Bank will inform the customer if it will receive any money or other property in return for providing the data to the other persons.

If a customer does not wish the Bank to use or provide to other persons his data for use in direct marketing

as described above, the customer may exercise his opt-out right by notifying the Bank.



8. Under and in accordance with the terms of the Ordinance and the Code of Practice on Consumer Credit

Data, any customer has the right:

(i) to check whether the Bank holds data about him and of access to such data;

(ii) to require the Bank to correct any data relating to him which is inaccurate;

(iii) to ascertain the Bank's policies and practices in relation to data and to be informed of the kind of personal data held by the Bank;

(iv) to be informed on request which items of data are routinely disclosed to credit reference agencies or

debt collection agencies, and be provided with further information to enable the making of an access and correction request to the relevant credit reference agency or debt collection agency; and

(v) in relation to any account data (including, for the avoidance of doubt, any account repayment data)

which has been provided by the Bank to a credit reference agency, to instruct the Bank, upon termination of the account by full repayment, to make a request to the credit reference agency to delete such account data from its database, as long as the instruction is given within five years of termination and at no time was there any default of payment in relation to the account, lasting in excess of 60 days within five years immediately before account termination. Account repayment data include amount last due, amount of payment made during the last reporting period (being a period not exceeding 31 days immediately preceding the last contribution of account data by the Bank to a credit reference agency), remaining available credit or outstanding balance and default data (being amount past due and number of days past due, date of settlement of amount past due, and date of final settlement of amount in default lasting in excess of 60 days (if any)).

9. In the event of any default of payment relating to an account, unless the amount in default is fully repaid or written off (other than due to a bankruptcy order) before the expiry of 60 days from the date such default occurred, the account repayment data (as defined in paragraph (h)(v) above) may be retained by the credit reference agency until the expiry of five years from the date of final settlement of the amount in default.

10. In the event any amount in an account is written-off due to a bankruptcy order being made against a

customer, the account repayment data (as defined in paragraph (h)(v) above) may be retained by the credit reference agency, regardless of whether the account repayment data reveal any default of payment lasting in excess of 60 days, until the expiry of five years from the date of final settlement of the amount in default or the expiry of five years from the date of discharge from a bankruptcy as notified by the customer with evidence to the credit reference agency, whichever is earlier.

11. In accordance with the terms of the Ordinance, the Bank has the right to charge a reasonable fee for the

processing of any data access request. 12. The person to whom requests for access to data or correction of data or for information regarding policies

and practices and kinds of data held are to be addressed is as follows: - The Data Protection Officer CTBC Bank Co., Ltd., Hong Kong Branch 28

th Floor, Two IFC, 8 Finance Street, Central, Hong Kong

Tel.: 2916 1888 Fax: 2810 9742 13. The Bank may have obtained a credit report on the customer from a credit reference agency in considering

any application for credit. In the event the customer wishes to access the credit report, the Bank will advise the contact details of the relevant credit reference agency.

14. Nothing in this Notice shall limit the rights of customers under the Personal Data (Privacy) Ordinance. Notes: 1. This Notice shall upon a customer’s receipt, be deemed an integral part of all contracts, agreements,

credit/banking facility letters, account mandates, and other binding arrangements which the customer has entered into or intends to enter into with the Bank.

2. In case of discrepancies between the English and Chinese versions, the English version shall prevail.



Annexure 3

PERSONAL CUSTOMER DECLARATION FOR RENMINBI (“RMB”) ACCOUNT OPENING

1. The customer understands and agrees that the operation of the RMB account(s) which the customer opens with

the Bank and the issuance of RMB cheques / drawn (if any) against such RMB account(s) are subject to your

applicable RMB banking business polices, procedures and guidelines.

2. The customer understands that all transactions executed through the RMB account(s) will be subject to all

applicable laws and regulations of Hong Kong and the People’s Republic of China (“PRC”).

3. The customer understands that RMB is subject to exchange rate risk. Fluctuation in the exchange rate of RMB

may result in losses in the event that the customer subsequently converts RMB into another currency (including

Hong Kong Dollars). Exchange controls imposed by the relevant authorities may also adversely affect the

applicable exchange rate. RMB is currently not freely convertible and conversion of RMB through banks in Hong

Kong, like other RMB services provided by banks in Hong Kong, are subject to certain policy, regulatory

requirements and/or restrictions (which are subject to changes from time to time without notice).

4. The Bank has the absolute discretion to reject the customer’s transfer / exchange / remittance or any other

instructions, if the transaction(s) to be conducted against the RMB account(s) are otherwise in violation of any

applicable laws and regulations of Hong Kong or the PRC.

5. The customer accept that the Bank shall not be liable for any loss or damage of whatsoever nature which the

customer may incur if the customer’s application to open a RMB account(s) is not successful or there is a delay

in opening.

6. The declarations contained herein supplement all other account opening documents, account mandates and

applicable terms and conditions of the Bank (as the case may be).

CTBC Bank Co., Ltd., Hong Kong Branch For Individual Customers

Documents

Transcript of CTBC Bank Co., Ltd., Hong Kong Branch For Individual Customers