Terms & Conditions

Website Terms and Conditions

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Definitions

Unless the context indicates otherwise, the following terms shall have the following meanings:
1. "Application Form" means the application form for the purchasing of unit trusts through the Use of the Service;
2. "Working Days" means all days except Saturdays, Sundays and South African national public holidays;
3. "CK1" means certificate of registration for closed corporations.
4. "Consultant" means the PPS Investments employee operating in the PPS Investments Client Service Centre or such other department or division as PPS Investments may determine from time to time;
5. "These Conditions" means these Website Terms and Conditions;
6. "PPS Investments" means the Professional Provident Society Investments (Pty) Ltd (Registration No. 2005/029 098/07)
7. "Unique PIN number" means a unique personal identification number selected by the User for purposes of obtaining personal investment information and conducting investment transactions via the Internet;
8. "Registration Form" means the electronic application form for the Use of the Service;
9. "Service" means the PPS Investments Client Online Services, which is the functionality of the Website available to Users to view investment statements, capture investment instructions and change personal details;
10. "User" means a User authorised by PPS Investments to use the Service and "Use" shall mean Use of the Service by the User;
11. "Investor" means any user of the Website who may not be a User of the Service;
12. "Website" means this Website of the PPS Investments Group.
Wording importing one gender shall include the other genders, words in the singular shall include the plural and vice versa and natural persons shall include created entities.

Application of these conditions
1. These Conditions apply to all Investors who visit and/or use this Website including terms for the Use of the Service or the browsing, inspection or investigation of the Service through the medium of this Website.
2. Parties to all transactions in connection with the Service shall be the User and PPS Investments. No other party including any entity within PPS Investments shall be a party to any such transaction nor shall they bear any obligations to the User and the User shall not have any rights against those parties in respect of such transactions.

Required documentation

Users are required to complete and submit an online Registration Form and/or complete any other documents or provide any other information as may be required by PPS Investments from time to time. PPS Investments, in its sole and absolute discretion and without stating reasons therefore, shall have the right to reject any application for the Service.

The following documents shall be required to register for and make use of the Service in either paper-based or electronic, scanned copy format except where a paper-based version only is specified from Users. Users shall provide accurate, current and complete information as set out below and required in the Application Form and Registration Form and immediately advise PPS Investments in writing of any changes in particulars. Without this documentation, Users will not be permitted to Use the Service.
1. Personal Users:
  1. A certified, paper-based copy of the front page of the User�s identity document.
  2. A bank statement or cancelled cheque in the name of the User not older than three months.
  3. A utility bill in the name of the User indicating the User�s residential address not older than three months.
2. Corporate Users:
  1. If the User is a company:
    1. A certified, paper-based copy of the director�s resolution authorising the investment and nominating a person/s to sign all documents on behalf of the company.
    2. An original, paper-based sample signature of the nominated person/s referred to in clause 3.2.1.1.
    3. A certified, paper-based copy of the nominated person/s identity document/s.
    4. A certified, paper-based copy of the company�s certificate of incorporation.
    5. A bank statement or cancelled cheque in the name of the User not older than three months.
    6. A utility bill in the name of the User indicating the User�s residential address not older than three months.
  2. If the User is a closed corporation:
    1. A certified, paper-based copy of the members� resolution authorising the Use of the Service and nominating a person/s to sign all documents on behalf of the Closed Corporation.
    2. An original, paper-based sample signature of the nominated person/s.
    3. A certified, paper-based copy of the nominated person/s identity document/s.
    4. A certified, paper-based copy of the CK1 pertaining to the closed corporation stamped by the registrar of closed corporations.
    5. A bank statement or cancelled cheque in the name of the User not older than three months.
    6. A utility bill in the name of the User indicating the User�s residential address not older than three months.
  3. If the User is a Trust:
    1. A certified, paper-based copy of a resolution authorising the Use of the Service by the board of trustees and nominating a person/s to sign all documents on behalf of the Trust.
    2. An original, paper-based sample signature of the nominated person/s.
    3. A certified, paper based copy of the nominated person/s identity document/s.
    4. A certified, paper-based copy of the trustees� letter of authority.
    5. An original, paper-based sample signature of each trustee.
    6. A certified, paper-based copy of the identity documents of the trustees.
    7. A bank statement not older than three months.
    8. A utility bill in the name of the User indicating the User�s residential address not older than three months.
  4. If the User is a partnership:
    1. An original, paper-based letter from the partners authorising the Use of the Service and nominating a person/s to sign all documents on behalf of the partnership.
    2. An original, paper-based sample signature of the nominated person/s.
    3. Certified, paper-based copies of the nominated person/s identity document/s.
    4. A bank statement or cancelled cheque in the name of the Partnership not older than three months.
    5. A utility bill in the name of the User indicating the User�s residential address not older than three months.
3. The completion, submission and all actions taken in terms of all forms are subject to these Conditions as well as any additional conditions appearing in any forms.
4. The User may return a completed form in either electronic format or by telefax. PPS Investments shall be entitled to accept the truth and correctness of all information contained in all forms and that any form purportedly emanating from a User does emanate from that User. Accordingly, the User indemnifies and holds PPS Investments harmless from any loss, damage, costs or expenses arising from inaccuracies in any information contained in any forms upon which PPS Investments acts, places reliance or makes use of where such forms emanate from the User or purport or appear upon a reasonable inspection to emanate from the User, whether such forms do emanate from the purported User or not.

Money laundering

PPS Investments is required by anti-money laundering legislation, to verify the identity of and to obtain certain information from prospective clients. Users will be required to give such information as is required by the legislation prior to making use of the Service. Should PPS Investments be required by law to obtain further information of any sort concerning Users, at any time during the course of the Service, this information shall be provided promptly upon PPS Investments� request failing which PPS Investments reserves the right to terminate the Use of the Service by the User without further notice.

Dealing in unit trusts
1. Instructions by Users in connection with the Service may only be given on Business Days. Any instructions given on days other than Business Days shall be deemed to have been given at the commencement of business on the following Business Day.
2. When investing online through the Use of the Service, the User shall apply electronically to invest in the unit trust/s managed in accordance with the provisions of the respective trust deeds at the prevailing purchase price, at the close of business on the date of receipt of funds by PPS Investments. All contribution instructions will take a maximum of five (5) Business Days to be processed provided PPS Investments are in receipt of a valid instruction, together with the proof of deposit and relevant supporting documentation.
3. Debit order instructions or changes must be received approximately 10 Business Days before the specified debit order commencement or cancellation date.
4. All purchases are subject to a 14-day clearance period in respect of subsequent redemptions and receipt of distribution payments.

Formalities of transactions
1. Users shall complete the Application Form and all other forms specified by PPS Investments in either electronic format or paper-based format as specified in any forms.
2. The User authorises PPS Investments to act upon instructions in connection with the Service purportedly sent by the User, whether electronically or by facsimile without liability in respect of any transfer, payment or other act done in accordance with such instructions and notwithstanding that it shall subsequently be shown the same was not signed or sent by the User. It is also agreed that this authorisation shall remain in force until notice in writing of its termination is received by PPS Investments and any such notice shall not affect the completion of transactions already initiated pursuant to this authorisation.

Processing of instructions and transactions
1. The User's instructions shall become irrevocable once submitted to PPS Investments. Unless otherwise specified, an instruction shall be deemed to have been submitted once the User has positively indicated their verification of the instruction by means of the functional option available on the Website.
2. Notwithstanding clause 7.1:
  1. Unless reflected in the transaction investment statement on the Website, no instruction shall be deemed to have been received by PPS Investments.
  2. PPS Investments reserves the right to reject, reverse or suspend the execution of a User�s instruction at any time on reasonable grounds, such as where it suspects that the value or frequency of transactions is contrary to the course of normal transactions. If a User�s instructions are either rejected or suspended, PPS Investments shall contact the User within a reasonable period of time to verify the instruction by such means as PPS Investments may in its sole discretion determine from time to time.
  3. In the event that PPS Investments reverses a transaction, the User shall have no claim against PPS Investments for any losses, damages, claims or costs including, without limitation, any lost profits, arising from the reversal of the transaction.
  4. Each purchase of units shall constitute a completed transaction and ownership of the units shall pass to the User as soon as PPS Investments has, subject to clause 7.2.2, accepted the instruction and the purchase price has been paid in full.

Intellectual property
1. All information displayed on the Website is subject to the copyright of PPS Investments or their licensors.
2. All trademarks, logos and designs, whether registered or not, used on this Website are those of PPS Investments.
3. The copyright in all material, trademarks, logos and design information vesting in PPS Investments and all its subsidiaries, published on this Website, shall continue to vest in PPS Investments. Without derogating from the aforementioned, PPS Investments authorises users to print a copy of the information contained on the Website for personal use only. Users and Investors may not reproduce or distribute the text or graphics to others or substantially copy the information onto their own server or link to this Website without the prior written permission of PPS Investments.
4. Except as otherwise stated in these Conditions, no party has any right to use any copyright material, trademarks, logos or design information without the written permission of PPS Investments. The name PPS Investments and its logos, trademarks and designs may not be used in any way including, but not limited to copying, reproduction, transmission, distribution, dissemination, sales, publications, broadcasting, advertising or exploitation, without the prior written permission of PPS Investments.

Suspensions and termination of services

PPS Investments shall have the right, within its sole discretion, to suspend or terminate the Service to any or some or all Users at any time without notice and without providing reasons for such suspension or termination.

Security
1. While PPS Investments takes every reasonable care to ensure that transactions are conducted in a secure environment, it is impossible to guarantee, and PPS Investments does not guarantee, the security of all transactions.
2. PPS Investments shall not be liable to any User in respect of any loss damage, claims or costs arising from the interception, monitoring, modification or other interference with communications or transactions between a User and PPS Investments.
3. Users shall be responsible for the Use of the Service with the User�s Unique Username, Unique PIN number and password, irrespective of whether the User has authorised a third party or permitted access to the User�s Unique Username, Unique PIN number and password. PPS Investments shall not be liable for any loss or damage arising from the unauthorised use of a User�s Unique Username, Unique PIN number and password.
4. In the event that a User becomes aware of a breach of the confidentiality of the User�s Unique PIN number or password, this shall be immediately communicated to PPS Investments in writing. The user will be required to select a new Unique PIN number or password.
5. Users are obliged to log-off from the Service before exiting from a session. Failure to log-off could result in unauthorised transactions for which PPS Investments will not be held liable.
6. PPS Investments may, in its sole discretion, and for any reason, require Users to change their Unique PIN number and/or password.
7. PPS Investments shall have the right to accept that all instructions apparently emanating from a User are the instructions of a User provided that the correct Username, Unique PIN number and password have been given and PPS Investments shall not be liable for any loss or damage arising from unauthorised use of the Unique PIN number or password.

Privacy

PPS Investments respects the User's right to privacy and confidentiality and consequently undertakes not to sell or exchange personal information with any third party outside of PPS Investments for any purpose whatsoever. However, PPS Investments reserves the right to disclosed or report personal information in limited circumstances where it is believed in good faith, that disclosure is required under law, to co-operate with regulators or law enforcement authorities, to perform necessary credit checks or collect or report debts owed to PPS Investments, to protect its rights or property, or to disclosed information on reasonable request by the unit trust fund in which the investor has invested.

Liability
1. Information contained on the Website is updated by 09h00 every Business Day. Due to the nature of the information posted, it becomes outdated rapidly. Users are therefore cautioned to independently verify the correctness of information contained on the Website that may have become outdated. PPS Investments accepts no liability of any sort resulting from reliance being placed upon outdated information contained on this Website by any User or other person.
2. Whilst every effort is made to represent accurate financial and technical information on an ongoing basis, inadvertent errors and typographical inaccuracies may occur. Information, laws, rules and regulations may also change from time to time. Information contained on the Website is therefore made available without any express or implied representation or warranty whatsoever, and PPS Investments disclaims liability for any expense incurred, or any damages, claims or costs sustained by Users arising from Use of the Service or reliance being placed upon any information or representations contained in this Website.
3. The information appearing in this Website is made available without any representation or warranty whatsoever, whether expressed or implied.
4. Without derogating from clause 12.1 and 12.2:
  1. Various third parties supply part of the information contained in these sites to us. The receipt of such information is dependent on such third parties and complex infrastructures for delivery over which PPS Investments has no control. PPS Investments shall not be liable for losses of any nature arising out of delays or failures in the delivery of such information.
  2. Where information consists of pricing or performance, the data contained therein has been obtained from company reports, financial reporting services, periodicals and other sources believed to be of a reliable nature. Although carefully verified, data computations are not guaranteed.
5. Users are urged to obtain professional advice before acting upon the information supplied.
6. PPS Investments reserves the right to alter and update information from time to time, without prior notification on the Website, in order to correctly reflect such information. The information made available on the Website should not in any way be construed to be financial, investment, retirement or legal advice.
7. All services and information offered on the Website must be confirmed and verified prior to finalisation of any transaction.
8. The Use of this Website, including, without limitation, the use of debit orders by a User to make purchases is entirely at the User's own risk. The User hereby authorises PPS Investments to deduct the said investment amount from the applicable bank account on a predetermined date. Accordingly, PPS Investments shall bear no liability of any sort for the losses sustained by Users arising out of their Use of the Website or Services, including, without limitation, losses arising from or connected with a User�s debit order authority given to PPS Investments or the Use of that debit order authority by PPS Investments.
9. Linked sites are not under the control of PPS Investments and PPS Investments shall not be responsible for their contents or the contents of any further links contained in linked sites.
10. Whilst PPS Investments shall use its best endeavours to ensure that the Website and Service are continuously available subject to planned downtime for maintenance purposes, some unplanned downtime is possible from time to time. PPS Investments accepts no liability for any loss, damage, costs or expenses suffered by any User or any other person as a result of any downtime or unavailability of the Website or Service, irrespective of its cause.

Applicability of information and services
1. All information regarding the products and services offered including information in respect of their terms and conditions and any other information is subject to change without notice.
2. The information contained in these pages does not constitute an offer or an invitation to use the Service in any jurisdiction where such offer or invitation is unlawful, or any jurisdiction in which PPS Investments is not qualified to make such offer or invitation, or to persons to whom it is unlawful to make such offer or invitation. Users and Investors resident outside the Republic of South Africa are advised to consult legal and/or investment specialists before making Use of the Service.
3. Users and Investors are cautioned that the products, services and information displayed on the PPS Investments website have been developed within the South African legislative, tax and financial framework, and hence may not necessarily be appropriate or fall within the legal framework of other countries.

Fees

The User shall be responsible for the payment of all fees. Fee information can be found on the Website (www.ppsinvestments.co.za).

Jurisdiction

All Use of the Service, transactions and interactions conducted through the medium of this Website, whether in whole or in part shall be subject to South African law and only South African courts shall have jurisdiction to hear disputes arising there from or from these Conditions.

Indemnity

The User shall indemnify PPS Investments against any claims, losses, costs or damage resulting from the Use of the Service by the User irrespective of how such claim, loss, damage or cost arises.

Breach

If a User commits any breach of these Conditions or Uses the Services or in any other manner interacts with the Website in an unlawful or unauthorised manner, PPS Investments shall be entitled to terminate the delivery of the Service to the User immediately without prior notice without prejudice to PPS Investments� other rights in terms of these Conditions or at law.

Transmission of Information

Information transmitted via the Internet, including e-mail, is susceptible to unlawful access or monitoring. Users shall bear all risk of transmitting such information in this manner and under no circumstances will PPS Investments be liable for any loss, harm or damage suffered by them as a result thereof. PPS Investments reserves the right to request independent verification of any information transmitted via the Website or e-mail.

Dispute Resolution

All transactions and interactions conducted by the medium of this Website, whether in whole or in part, shall be subject to South African law and only South African courts shall have jurisdiction to hear disputes arising there from or from these Conditions. No alternative dispute resolution code is applicable to transactions and interactions conducted by the medium of this Website, unless otherwise determined from time to time, in which case such dispute resolution codes are to be made electronically accessible to the User/Investor.

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