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1.1 These specific conditions apply in relation to the use of ANZ Online Investing (Online Investing) available through the Service. They supersede any other Online Investing specific conditions you may have accepted to date.
1.2 Online Investing is part of the Service. Therefore the General Conditions applicable to the Service also apply to use of Online Investing.
1.3 Definitions of terms in bold can be found in the General Conditions or otherwise as defined in these Terms and Conditions.
1.4 You accept these Terms and Conditions when you select the "I accept" button at the end of this document. There will not be an "I accept" button at the end of this document if you cannot accept these Terms and Conditions from this web location (for example, if this web location only allows you to view these Conditions of Use).
2.1 The offer of Investment Products including additional investments and switches to Investment Products through Online Investing is open only to people making an Investment Product Application in Australia.
3.1 The facilities available through Online Investing are available only to natural persons and are not available to incorporated entities or other bodies including, without limitation, companies, partnerships and incorporated associations.
You acknowledge and agree that you will only be given access to Online Investing if your Online Investing Application is in the same name as your Customer Registration Number. In addition, ANZ Investments Accounts may only be linked to your Customer Registration Number if those Accounts are in the same name as your Customer Registration Number.
The facilities available through Online Investing will only be available to you once your application has been accepted by ANZ. As part of the application process, you must sign the Online Investing Application and return it to ANZ.
Once your Online Investing Application has been accepted, you may make investments in one or more Investment Products through Online Investing. However, you acknowledge that you will not be able to redeem interests in an investment until a signed copy of your Online Investing Application has been accepted by ANZ.
You may not nominate Authorised Users to have access to Online Investing. Authorised Users can only have access to Online Reporting.
3.2 The availability and functionality of the facilities on Online Investing, as well as the Investment Products available through it, are subject to (as applicable) the Corporations Act, the Superannuation Industry (Supervision) Act 1993, its associated regulations and any other codes, policies and applicable practice notes.
3.3 ANZ may at any time, and at its sole and absolute discretion, not accept your application for Online Investing, terminate your participation in Online Investing or refuse some or all of your Investment Product Applications without providing any reason for so doing. Without limiting the foregoing, ANZ may exercise its discretion under this clause if it is against the law to accept any of your Investment Product Applications through Online Investing. You will be advised if this is the case.
4.1 The Investment Products available through Online Investing are not offered by ANZ. The Investment Products are issued by either:
(a) ANZ Managed Investments Limited, ABN 61 004 392 269, ANZ Life Assurance Company Limited ABN 63 008 425 652, which are wholly owned subsidiaries of ING Australia Limited ABN 60 000 000 779; or
(b) ANZ Trustees Limited ABN 33 006 132 332 a wholly owned subsidiary of ANZ
(Product Providers).
4.2 Investment Product Applications made through Online Investing are applications to the relevant Product Provider and not to ANZ. Please refer to the applicable disclosure document to determine the applicable Product Provider for the relevant Investment Product.
5.1 You cannot invest in or switch all ANZ Investments Products through Online Investing. ANZ reserves the right to add or remove ANZ Investments Products from Online Investing at any time and without notice to you.
5.2 Once you are given access to Online Investing, you may, unless otherwise indicated by us, electronically:
- make new investments for interests in Investment Products;
- make additional investments into your existing Investment Products;
- make switches between Investment Products; and
- use Online Reporting (subject to the specific conditions of use below).
5.3 In order to make either an initial investment, additional investment or switch electronically, you will need to:
(a) complete the relevant electronic Investment Product Application form;
(b) submit it electronically to ANZ as provided on Online Investing; and
(c) make payment according to the rules governing those activities for the applicable Investment Products.
Investment Product Applications, once received by ANZ, will be passed on to the relevant Product Provider(s).
5.4 Any application you make through Online Investing is deemed to be received by ANZ when it enters our information system during business hours on a Banking Business Day. If it enters our system out of business hours, it is deemed to be received by ANZ on the next Banking Business Day.
5.5 Investments (initial and additional) will only be carried out by the relevant Product Provider upon receipt from you of a properly completed Investment Product Application as well as the correct application moneys. Application moneys may be paid by either of the following methods:
(a) payment directly to ANZ by the electronic payment method provided at the end of the Investment Product Application; or
(b) Payment via BPAY®.
A delay might occur in the processing of a BPAY® where:
(a) there is a public or bank holiday in Melbourne and Sydney on the day or on the day after a financial institution participating in the BPAY® Scheme is told to make a BPAY®; or
(b) a financial institution participating in the BPAY® Scheme does not comply with its obligations under that scheme.
It is your responsibility to allow sufficient time for processing of payments to ANZ. ANZ and the relevant Product Provider(s) are not responsible to you for any losses or expenses incurred by you as a result of delays in processing a BPAY®.
Where:
(a) there is a delay in the processing of a BPAY® or a delay in carrying out an investment owing to an incomplete Investment Product Application; and
(b) during that period of delay the unit price for investment changes
you acknowledge and agree that ANZ and the relevant Product Provider(s) are not responsible to you for any losses incurred by you as a result of that delay.
5.6 Switches will only be carried out by the relevant Product Provider upon receipt from you of a properly completed Investment Product Application. Where:
(a) there is a delay in carrying out a switch owing to an incomplete Investment Product Application; and
(b) during that period of delay the unit price for investment changes,
you acknowledge and agree that ANZ and the relevant Product Provider(s) are not responsible to you for any losses incurred by you as a result of that delay.
5.7 You must re-transmit:
(a) any application through Online Investing; or
(b) any payment made in respect of an application through Online Investing,
if the lodgement or confirmation receipt (or other functional acknowledgment) you receive after you electronically submit your Investment Product Application or payment indicates a malfunction, or if ANZ notifies you that the message was received in an incomplete or garbled form.
5.8 If any application you submit on Online Investing is incomplete or incorrect, then you may be contacted by ANZ or the relevant Product Provider and asked if you would prefer to submit a completed form, or have the incomplete form returned for completion.
6.1 You acknowledge and agree that:
(a) all applications made through Online Investing and any subsequent interests issued are governed by the relevant trust deed, constitution (as amended from time to time), disclosure document (available through Online Investing), policy document or any other contract between you and the applicable Product Provider and the relevant Australian laws including, but not limited to, (as applicable), the Corporations Act, the Superannuation Industry (Supervision) Act 1993 and any associated codes, policies and determinations (Governing Documents). These Governing Documents may determine, amongst other things, when investments/contributions may be made, withdrawal restrictions and the timing of distributions from your investments;
(b) ANZ and each of the Product Providers do not and will not provide you with any legal, tax financial or accounting advice or advice regarding the suitability or profitability of any investment or security and, to the extent permitted by law, will have no liability (including for negligence) with respect to the applications in or for your ANZ Investments Account(s) and your investment decisions, including any diminution in the value of your investment;
(c) none of the material available to you from Online Investing (including any product disclosure documents or Fund Reports) is suitable to be acted upon as investment advice and accordingly you acknowledge that ANZ and the relevant Product Provider(s) are not providing investment advice through the Online Investing facility;
(d) it is your responsibility to obtain investment advice before making any investment decisions in reliance on the information provided through Online Investing; and
(e) any payments via BPAY® made in connection with applications made through Online Investing are subject to the specific terms and conditions for using BPAY® by the BPAY® biller under the BPAY® Scheme.
6.2 You warrant and represent that:
(a) you will rely upon your own skill and judgment (or that of your independent financial adviser) when placing any Investment Product Applications through Online Investing and assume full responsibility for such applications including, without limitation, that you satisfy all the membership requirements of the applicable Investments Product(s) and minimum investment amounts; and
(b) you have provided correct information to the best of your knowledge on the applicable electronic application forms available on Online Investing and will provide any changes of details including contact details and bank account details to ANZ and/or the relevant Product Provider.
6.3 You authorise the collection by ANZ, and any Product Provider(s) to whom you make an Investment Product Application, of all the information provided and to be provided by you including personal and financial information (Personal Information) in relation to your participation in Online Investing. You acknowledge that if you do not provide all of your Personal Information as required, ANZ may not be able to accept your Online Investing Application.
You acknowledge that you can gain access to your Personal Information if the provision of the information is required by law.
You acknowledge and agree that any information provided or to be provided by you in connection with Investment Products and Investment Products Applications will be provided to ANZ as the operator of the Service.
6.4 You acknowledge and agree that ANZ reserves the right to charge fees and charges in relation to use of the Service. Information on fees and charges is available on our Website, at any ANZ branch, or you can request that this information is mailed to you by calling ANZ on 13 13 14.
7.1 Investment Product Fees
The Investment Products offered through the Online Investing are subject to fees and charges imposed by the Product Providers. You should refer to the applicable disclosure document issued by the relevant Product Provider for more details.
7.2 Online Application Fee Structure
If you are an existing investor who made your initial application for interests in an Investment Product by means other than through Online Investing, the fee structure applicable when you made your initial investment will continue to apply to your initial investment and any additional investments you make into that Investment Product through Online Investing.
If you make your initial application for interests in an Investment Product through Online Investing which is subject to an entry fee payable to the Product Provider, ANZ will rebate the entry fee as additional units to you. In effect, therefore, the entry fee you pay will be zero.
7.3 Fees payable to ANZ
ANZ is entitled to receive a commission from the Product Provider in respect of investments you make in any Investment Product through Online Investing. The amounts paid to ANZ are paid out of the Product Providers ongoing management fees and charges described in the applicable disclosure document. These are amounts paid by the Product Provider and are not additional amounts paid by you.
The nature and size of the commission may vary depending on the Investment Product you choose. ANZ may receive a trailing commission of up to 0.66% pa. ANZ may also be entitled to an upfront commission of up to 5%. As mentioned above, this upfront commission may be paid to you as additional units, as a rebate for an entry fee paid to the Product Provider.
Your use of Online Reporting is governed by the specific conditions of use as follows:
8.1 Your rights
Your rights as an investor in any of the Investment Products that you gain information about through Online Reporting are governed by the relevant constitution, trust deed, policy document or any other contract between you and the applicable Product Provider.
Please also refer to the applicable disclosure document and any other documentation you have received from the relevant Product Provider for further details regarding your rights and interests in the relevant ANZ Investments Account in which you hold an investment.
8.2 Underlying investments
Generally you as an investor in any Investment Products are not entitled to any legal or direct beneficial interest in any of the underlying investments (both ANZ and non-ANZ issued) that the Product Provider has acquired for that ANZ Investments Account.
The information reported about underlying investments/products is only part of Online Reporting provided to you as an investor in one of the Investment Products.
Please refer to your applicable ANZ Investment Account(s) disclosure document and underlying investment disclosure documentation you have received for further details.
8.3 Statutory reporting
The information and investment details provided to you through Online Reporting are for information purposes only. Unless otherwise stated, Online Reporting is not a substitute for any reporting that the Product Providers must provide under legislation, or for any other reporting that you usually receive as an investor in an ANZ Investments Account referred to in ANZ Investments Reporting Online.
8.4 Timing
You acknowledge that any information accessed through Online Reporting should reflect the balance and/or other transactional and distribution history of your ANZ Investments Account as they are updated and as processed by the applicable Product Providers excluding any transaction requests not yet processed or completed. There may also be circumstances outside the control of ANZ and/or the Product Providers (eg employer contribution delays) which mean that the account balance and other transactional and distribution information in relation to your account is not reported as described in these Conditions of Use.
Please refer to the applicable disclosure document provided to you by the relevant Product Provider and any underlying investments disclosure document to determine the required timeframes for transactions (including redemptions and switches) to be processed.
9.1 Investments in any of the Investment Products available through Online Investing do not represent deposits or other liabilities of:
(a) ANZ or any of its related corporations (ANZ Group);
(b) INGA, ING Bank (Australia) Limited ABN 24 000 893 292 or any other company in the ING Group (collectively referred to as ING); or
(c) the Product Providers
Investments are subject to investment risks, including possible delays in repayment, loss of income and capital invested. Neither ANZ Group, ING or any of the Product Providers stand behind the capital value or performance of any of the Investment Products available through Online Investing and neither the ANZ Group, ING or any of the Product Providers incur any liability to investors using Online Investing.
Australia and New Zealand Banking Group Limited
ABN 11 005 357 522
Date of Publication - May 2002 - Version 3
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