Share Application
Money Laundering Regulations
(a) The Money Laundering Regulations 1993 (the "Money
Laundering Regulations") may require the Companies to
establish the identity of any person by whom, or on whose
behalf, an Application Form is lodged with payment. These
requirements are referred to in this paragraph as the "verification
of identity requirements".
(b) If the Application Form is submitted by, and/or
payment is made by, a United Kingdom regulated intermediary
acting as agent and which is itself subject to the Money Laundering
Regulations, any verification of identity requirements are
the responsibility of such intermediary and not the Companies.
(c) Each person (referred to below as the "acceptor")
who lodges an Application Form with payment applying for an
allotment of shares (the "relevant shares"), in
person or by an agent lodging such an Application Form on
his behalf, will constitute a warranty from that person that
the Money Laundering Regulations will not be breached by the
acceptance of the accompanying remittance and shall thereby
be deemed to agree to provide the Companies with such information
and other evidence (if any) as they or either of them may
require to satisfy the verification of identity requirements.
(d) If the Companies determines that the verification
of identity requirements apply to any acceptance of an allotment
and the verification of identity requirements have not been
satisfied within 60 days of the opening of the relevant Offer,
the Companies may, in their absolute discretion and without
prejudice to any other rights of the Companies, either
(i) treat the acceptance as invalid, in which event
the monies received in respect of the acceptance will be
returned without interest to the account of the drawee bank
or building society from which such monies were originally
debited, or
(ii) make arrangements (in its absolute discretion
as to manner, timing and terms) to sell the relevant shares
and for that purpose the Companies will be expressly authorised
to act as agent of the acceptor.Any proceeds of sale of
the relevant shares (net of expenses of sale, including
VAT) which shall be issued to and registered in the name
of the purchaser(s) will be held by the Companies on trust
for the acceptor, subject to the requirements of the Money
Laundering Regulations.
(e) If the verification of identity requirements apply,
failure to provide necessary evidence of identity may result
in an Application Form being treated as invalid or in delays
in the despatch of a fully paid registration receipt and a
share certificate.
(f) The verification of identity requirements will
not usually apply:
(i) if the acceptor is an organisation required
to comply with the EU Money Laundering Directive (the Council
Directive on prevention of the use of the financial system
for the purpose of money laundering (no. 91/308/EEC));
(ii) if the acceptor is a regulated United Kingdom
broker or intermediary acting as agent which is itself subject
to the Money Laundering Regulations; or
(iii) if the acceptor (not being an acceptor who
delivers his acceptance in person), makes payment by way
of a cheque drawn on an account in his name.
(g) Where the verification of identity requirements
apply, the satisfaction of these requirements may be facilitated
in the following ways:
(i) if payment is made by building society cheque
(not being drawn on an account of the acceptor) or a banker's
draft, the building society or bank should be requested
to endorse on the cheque or draft the acceptor's name and
the number of an account held in the acceptor's name at
such building society or bank. Such endorsement must be
validated by a stamp and an authorised signature; or
(ii) if payment is not made by cheque drawn on an
account in the name of the acceptor and paragraph (g)(i)
above does not apply, the acceptor should enclose with his
Application Form evidence of his name and address from an
appropriate third party, for example, a recent bill from
a gas, electricity or telephone company or a bank statement,
in each case bearing the acceptor's name and address (originals
of which documents (not copies) are required, but will be
returned in due course); or
(iii) if an Application Form is delivered by hand
by the acceptor in person, he should ensure that he has
with him evidence of his identity bearing his photograph
(for example, his full valid passport) and evidence of his
address.
(h) None of the Companies shall be responsible or
have any liability for loss or damage (whether actual or alleged)
arising from the election by the Companies to treat an Application
Form lodged by any acceptor as invalid or to terminate the
contract of allotment as a result of the Companies not having
received evidence as to the identity of the person lodging
the relevant Application Form satisfactory to it within a
reasonable time of the Companies having requested such information
or any sale by the Companies of relevant shares pursuant to
the authority referred to above.
All enquires in connection with the Application Form should
be addressed to:
Ben Harber,
SLC Registrars Limited,
42/46 High Street,
Esher,
Surrey
KT10 9QY.
Telephone: 01372 467 308 or 01372 465 330.
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