i) The higher the margin of financing (that is, the amount of money you borrow for every ringgit of your own money which you put in as deposit or down payment), the greater the loss or gain on your investment.
ii) You should assess whether you have the ability to service the repayments on the proposed loan. If your loan is a variable rate loan, and if interest rates rise, your total repayment amount will be increased.
iii) If unit price fall beyond a certain level, you may be asked to provide additional acceptable collateral (where units are used as collateral) or pay additional amounts on top of your normal instalments. If you fail to comply within the time prescribed, your units may be sold towards the settlement of your loan.
iv) Return of unit trusts are not guaranteed and may not be earned evenly over time. This means that there may be some years where returns are high and other years where losses are experienced. Whether you eventually realise a gain or loss may be affected by the timing of the sale of your units. The value of units may fall just when you want your money back even though the investment may have done well in the past.This brief statement cannot disclose all the risks and other aspects of loan financing. You should therefore carefully study the terms & conditions before you decide to take a loan. If you are in doubt about any aspect of this risk disclosure statement or the terms of the loan financing, you should consult the institution offering the loan.
1.1 By completing the account opening form (“Form”), electronically accepting or acknowledging the terms and conditions herein contained (“Terms”), using AHAM Asset Management Berhad's (hereinafter referred to as "we", "our", "us", or "AHAM Capital") services or signing up for an account with us, you hereby acknowledge and agree that you have:
i. read and understood the contents contained in the prospectus / information memorandum / disclosure document including any supplemental thereto;
ii. entered into a legally binding relationship with us; and
iii. further accept to be bound by the Terms, contents of the prospectus / information memorandum / disclosure document, and deed of the relevant fund that you are investing into, including any supplemental made thereto.
1.2 The relationship between you and AHAM Capital is governed by these Terms and these Terms shall apply to and govern your account(s) with us and all transactions and services. For the avoidance of doubt, we are not obliged to open any account for you or provide you with any service.
2.1 First Applicant
2.1.1 An individual applying to be the First Applicant shall have attained the age of majority at the time application is made pursuant to the Terms.
2.1.2 The First Applicant agrees to apply his/her latest risk tolerance profile maintained with AHAM for all transaction applications and to notify AHAM Capital immediately if there is any change of information that may change his/her risk tolerance profile.2.2 Joint Applicant
2.2.1 Only one (1) person shall be registered as First Applicant, while the other as Joint Applicant. Where applicable, authority to operate the account may be indicated as “Power to sign” in the Form. If no indication is given, then by default, the First Applicant shall sign.
2.2.2 Clause 2.2.1 above shall not apply to Private Retirement Scheme accounts.2.3 Designated Account
2.3.1 Applicant A minor being a Joint Applicant shall be registered as a designated account applicant.
2.3.2 A minor upon attaining the age of majority, may be registered by us as joint account holder subject to written authorisation from the First Applicant. Additional documentation may be required at our discretion.
2.3.3 This clause 2.3 shall not apply to Private Retirement Scheme accounts, Discretionary Portfolio Mandate accounts, and Non-Discretionary Portfolio Mandate accounts.
3.1 Before we can open any account for you, provide you with our services, or enter into any transaction for your account, you must submit to us all the documents, evidence, and information as we may require to carry out such "Know Your Client" procedures. You undertake to inform us promptly of any change in the information provided.
3.2 You also agree to provide any information and documents requested by us in relation to any account, transaction, and services, for the purposes of providing the services to you and for complying with any law and regulations applicable to us, or pursuant to any order, direction, or request by any applicable court, government, or regulatory authority.
3.3 We may request for further documents, and you shall furnish the same within a reasonable time or the prescribed time after receiving such request from us, failing which you agree that the account may not be opened or may cause delay or failure in our provision of services to you.
4.1 We reserve our sole and absolute discretion not to process any forms submitted by you and we shall not be obliged to provide any reason whatsoever in connection thereto.
5.1 As an IUTA and for ease of operations, we require the services of a nominee (“Nominee”) to effect your transactions and also to keep in custody Units (except Units that are subscribed through the EPF Members Investment Scheme (“EPF-MIS”)) for and on your behalf.
5.2 Where you invest in a unit trust fund distributed by us as an IUTA, you hereby agree to appoint us to hold and act for and on your behalf in relation to those Units (except Units that are subscribed under EPF-MIS) subject to the Terms. All transactions with respect to the Units will be effected by the Nominee on your behalf with the relevant representative, agent, adviser or management company of the Units in accordance with the restrictions or limitations set by the respective Unit Trust Management Company (“UTMC”), the relevant prospectus and deed of the respective funds and the laws, rules, regulations, guidelines and practices of the unit trusts industry.
5.3 You agree that where you invest in a unit trust fund distributed by us as an IUTA:
• the Units (except Units that are subscribed under EPF-MIS) shall be held by the Nominee as the registered holder for and on your behalf;
• the Nominee shall not recognise any trust or equity in respect of the Units or any part thereof; and
• the Nominee shall be a bare custodian and not a trustee in all matters relating to this arrangement and/or the Units.
5.4 The Nominee shall have no duty nor responsibility as regards attendance at meetings or voting in respect of any of the Units or as regards any subscription, conversion, or other rights in respect thereof or as regards any merger, consolidation, reorganisation, receivership, bankruptcy, or insolvency proceedings, compromise or arrangement in connection with the Units, nor shall the Nominee be under any duty to investigate or participate therein, or take any affirmative action in connection with your written instructions, and upon such conditions, indemnity and provision for expenses as the Nominee may require.
5.5 Units subscribed under EPF-MIS
If you have subscribed to any Units under EPF-MIS, you agree that such Units will be transferred from your account with the respective UTMC to the Nominee to be held under cash plan upon you attaining the retirement age of 55 years (or such other retirement age as prescribed by EPF) and any subscription(s) thereafter through EPF-MIS shall be registered with the Nominee who will hold those Units on your behalf under cash plan.
You hereby agree to give the following instruction to the UTMC to effect the transfer of Units as stated above:
To: UTMC
I, hereby instruct you to transfer all my unit trust fund investments under EPF-MIS subscribed via AHAM Capital from my name to such nominee as advised by AHAM Capital (the “Nominee”) upon me attaining the age of fifty-five (55) years. The Nominee shall then hold as registered unit holder on my behalf.
This instruction shall be valid and binding for all Units that I have subscribed under EPF-MIS via AHAM Capital as my IUTA.
6.1 Any instructions given or applications submitted by you either verbally, electronically, digitally, in writing, or via electronic mail, or such other permitted means of communication as notified to us from time to time arising out of and / or in connection with your account held with us, if and when acted upon or effected by us shall be legally binding on you. We shall have no obligation to verify the authenticity of the instructions and / or the identity of the person purporting to give the aforesaid instructions.
6.2 You hereby expressly consent to the recording of telephone conversation exchange for whatever purpose under the Form, account, and / or instructions made by you to us and you further agree that such recordings shall constitute conclusive evidence.
6.3 No instructions from you shall be deemed to be received by us until such time we confirm acceptance of the same either by way of a short message service (SMS) or a notification through the mobile application or e-mail. You acknowledge the risk associated with each means of communication and agree that we shall not be liable for any losses and / or damages arising from and / or in connection with the instructions, including omitting to act on inconsistent, ambiguous, or incomplete instructions.
6.4 Where you invest into a unit trust fund distributed by us as an IUTA and managed by another UTMC, you agree that application made to a UTMC is not deemed as acceptance until such time the UTMC confirms acceptance of the same. You understand that the UTMC has every right to accept or decline any dealings with regards to your application. We shall not be liable for any action, proceeding, claim, cost, expense, loss, or damage of any nature suffered or incurred by you including a loss in investment opportunity which you may suffer as a result of refusal or delay in acceptance by the UTMC.
6.5 If you wish to appoint an attorney or any person (“Authorised Person”) to give instructions, sign any document or forms, and / or perform any act on your behalf, you must provide us with the power of attorney or such other instrument appointing the Authorised Person to act on your behalf, in the form and substance acceptable to us. You are bound by and shall remain liable for all acts, instructions and transactions of the Authorised Person, and is responsible to ensure that the Authorised Person acts within the power or authority. You agree that we shall not be liable should you suffer any losses pursuant to us acting on instructions of the Authorised Person.
6.6 Notwithstanding anything contained herein, we shall be at the liberty to disregard or refuse to process any of the instructions given or applications submitted by you if the processing of such instructions or applications would be in contravention of any laws or regulatory requirements whether or not having the force of law and / or would expose us to any liability.
6.7 Any instruction or application submitted through our online portals such as our i-Access platform, our mobile application, or any other online platforms that may be offered by us (hereinafter referred to as "Online Portal") will be deemed irrevocable. We reserve the right to accept or reject any instruction or application made by you in whole or in part without assigning any reason in respect thereof, and without providing any compensation to you.
7.1 Unless otherwise specified, all statements including but not limited to, your statement of accounts, tax voucher, transaction slips, transaction advice (including switching, payment, redemption, and confirmation) and such other documents (collectively referred to as "Statements") shall be notified to you via your registered email address once the Statements are ready to be downloaded from our i-Access portal.
You are required to notify us in writing of (i) any non-receipt of Statements, or (ii) discrepancy contained within the transaction advice within 14 days from the date appearing in the said transaction advice, or (iii) any discrepancy contained within your statement of account within 30 days from the date appearing in the said statement of account, or (iv) within 14 days from the date appearing in such Statements save for (ii), and (iii).
Should you wish to receive hard copies of the said documents, please contact our Customer Care Consultant at 1800-88-7080 during business hours, Mondays to Fridays, between 8.45 am to 5.30 pm.
8.1 We do not accept physical cash. All monies due and payable by you to us shall be made with clear funds, any cheques issued by you must be honoured when presented and shall be from your own bank account. We do not accept funds from third parties for your investments and may refund such sum that has been transferred to us to the payer and henceforth the application for investment may fail.
8.2 If any application made by you is rejected for whatever reason, whether in part or whole, any monies paid or remaining balance thereof will be returned (without interest or return) within 30 days from the date of such application and any costs or expenses incurred thereof shall be borne solely by you.
8.3 In the absence of any instructions to the contrary or as allowed under the deed of the relevant fund, you hereby authorise us to automatically re-invest any distributions of dividends.
8.4 Unless notified otherwise, any monies payable by us to you will be made via telegraphic transfer to your bank account, the details of which have been provided during account opening stage or as advised by you from time to time and denominated in Ringgit Malaysia. Any monies payable by us out of a fund which base currency is a currency other than Ringgit Malaysia (“foreign currency”) will be made via telegraphic transfer to your bank account and denominated in the foreign currency. We shall not be liable for any losses suffered by you in relation and arising out of any fluctuations in currency exchange rates.
8.5 We are entitled to and you hereby agree to us withholding any monies held or received by us and apply the same for the satisfaction of any liabilities, taxes, and charges by whatsoever name called imposed by the relevant authorities and / or under the applicable laws.
8.6 Without prejudice to the generality of the foregoing, all our employees, and sales consultants are prohibited from receiving from any parties monies for investment (whether by way of cash or cheque or any other instrument) made out in favour of the employees and / or sales consultants, for their onwards transmission to us. In the event you do hand over such physical cash, or cheque or any other instrument made to the favour of the employee and / or sales consultant, such employee and / or sales consultant shall for the purposes of such transmission of monies to us be your agent and not ours and we shall not be liable for any loss whatsoever occasioned to you or any other person as a result of you handing over such monies to them. We are under no obligation to accept payments for investments via our employees and / or consultants, or any third party and may in our sole discretion reject such payments.
9.1 In reliance of your representation and warranties stipulated hereunder, we agree to enter into a legally binding relationship with you and in continuance thereafter for the provision of services contemplated in the Form, relevant prospectus / information memorandum / disclosure document and deed including any supplemental thereto. You hereby represent and warrant the following to us:
9.1.1 the contents of the relevant prospectus / information memorandum / disclosure document and deed including any supplemental thereto constitute your complete and entire understanding with respect to the relevant fund, you have not relied upon any other representation (whether oral or in writing) or information other than those contained in the relevant prospectus / information memorandum and deed including any supplemental thereto;
9.1.2 the source of the funds of your investments are not derived from any illegal and unlawful activities;
9.1.3 any transaction contemplated hereof will not contravene any anti-money laundering and anti-terrorism financing provisions, and any other legislation applicable to us;
9.1.4 any document, instruction, and / or information provided by you are true, accurate and correct, and shall remain so during the entire relationship with us. If any of those documents, instructions, and / or information become untrue, inaccurate or incorrect, you will immediately notify us at the soonest instance;
9.1.5 you acknowledge that you are aware of the fees and charges that you will incur directly or indirectly when investing in the relevant fund and such fees and charges are exclusive of any taxes (if applicable);
9.1.6 that you have read and understood the contents contained in clause 11 (Unit Trust Loan Financing Risk Disclosure Statement) herein;
9.1.7 unless declared otherwise, you are not a U.S. Person as defined in the United States Securities Act of 1933, as amended from time to time;
9.1.8 you have the legal capacity and power to submit this application, open an account and invest with us;
9.1.9 you are not a bankrupt nor are subject to any material proceedings which would impair your ability to perform your obligations envisaged herein, and will inform us should this information change;
9.1.10 you have obtained all consents, licences, approvals or authorisations of, exemptions by or registrations with or declarations by, any governmental or other authority that you require, and these are valid and subsisting and will not be contravened by the execution and performance of your obligations under the Terms; and
9.1.11 you fully understand that a false statement or misrepresentation of tax status could lead to penalties under the law and you hereby undertake to notify us within 30 days if there is a change in any information provided to us.
9.2 Notwithstanding the generality of the foregoing clause 9.1, you shall be deemed to represent and warrant to us at all material times that the representation and warranties contained above are true, accurate and correct in all respects and manner as if it were made on such date and repeated by virtue of each and every subsequent transaction entered into by you with us. You shall as soon as possible notify us in writing should the representation and warranties herein stipulated are / becomes untrue, inaccurate and / or incorrect.
10.1 The collecting and use of your Personal Data will be in accordance with such laws (including the Personal Data Protection Act 2010), our latest Privacy Notice which is available on request, displayed at our offices, and on our corporate website, and / or the privacy terms in any agreement(s) that you may have or will enter into with us. You are aware and agree that our Privacy Notice may be revised from time to time, and you agree to accept such changes by your continued usage of the mobile application, electronic portal, or any products and services we offer.
10.2 It is your responsibility to notify us in writing should there be any changes to the Personal Data. We shall not be responsible in the event you fail to receive any Statements, or notifications due to your failure to notify us of any changes to your Personal Data.
10.3 Subject always to our relevant policy(ies), the applicable laws and regulations, we will permanently delete the Personal Data subsequent to the closing of your account with us.
10.4 You hereby agree that in the event that you require us to stop processing the Personal Data, we shall have the right to terminate our relationship, close your account(s), and / or discontinue the provision of any service that is linked with such Personal Data.
10.5 You hereby agree to indemnify and hold harmless us, our directors, and employees from any suspected or actual loss, claim, or damages of whatsoever nature which may arise out of or in relation to the processing and disclosure of your Personal Data pursuant to the terms in our Privacy Notice. If you have any enquiries or complaints, you may contact us by phone at 03-2116 6000 or via email at [email protected].
10.6 You hereby authorise us to disclose any and all information pertaining to you and / or your account with us as may be required or imposed upon us from time to time pursuant to the Foreign Account Tax Compliance Act of the United States of America (“FATCA”), or such other rules, and regulations as may be imposed upon us.
10.7 Data Storage Duration (For Mobile Application only)
When you provide your Personal Data through the Mobile Application as an account opening application, your Personal Data will be retained within our database for the duration of your relationship with us, and subject to the duration as stipulated within the Personal Data Protection Act 2010. Should you have completed your account opening application but have not completed the process in entirety for whatsoever reason, your Personal Data will be retained within our database for a duration of six (6) months. The duration will provide you with a timeframe to complete your account opening process. After which, all information that you had earlier provided will be deleted, and no longer maintained in our database, thus requiring you to restart the process should you wish to do so.
11.1 Investing in a Unit Trust Fund with borrowed money is riskier than investing with your own savings. You should assess if loan financing is suitable for you in light of your objectives, attitude to risk and financial circumstances.
11.2 You should be aware of the risk, which would include the following:
i. The higher the margin of financing (that is, the amount of money you borrow for every ringgit of your own money which you put in as deposit of down payment), the greater the loss or gain on your investment.
ii. You should assess whether you have the ability to service the repayments on the proposed loan. If your loan is a variable rate loan, and if interest rates rise, your total repayment amount will be increased.
iii. If unit price falls beyond a certain level, you may be asked to provide additional acceptable collateral (where units are used as collateral) or pay additional amounts on top of your normal instalments. If you fail to comply within the time prescribed, your units may be sold towards the settlement of your loan.
iv. Returns on unit trusts are not guaranteed and may not be earned evenly over time. This means that there may be some years where returns are high, and other years where losses are experienced. Whether you eventually realise a gain or loss may be affected by the timing of the sale of your units. The value of units may fall just when you want your money back even though the investment may have done well in the past.
11.3 This brief statement cannot disclose all the risks and other aspects of loan financing. You should therefore carefully study the terms and conditions before you decide to take a loan. If you are in doubt about any aspect of this risk disclosure statement or the terms of the loan financing, you should consult the institution offering the loan.
For investments in Shariah funds, the account is based on the contract of agency under the Shariah principle of Wakalah. We will act in our capacity as an agent (“Wakil”) for, and on your behalf (“Muwakkil”) pursuant to our appointment under the Terms.
You acknowledge that only a "Sophisticated Investor" may be eligible to invest in Wholesale Funds. You may obtain the latest definition of "Sophisticated Investor" from the Guidelines of Unlisted Capital Market Products under the Lodge and Launch Framework issued by Securities Commission Malaysia.
14.1 You shall be responsible for the payment of any charges, fees, costs, expenses, taxes (if any), and other liabilities properly payable or incurred by us and in holding or executing transaction in respect of any of the units.
14.2 We will not be liable to pay any interest to you for any monies we held for you for any reason whatsoever.
14.3 You shall also be responsible for the payment of any commission, transfer fees, registration fees, taxes (if any), and other liabilities, cost and expenses properly payable or incurred by us and / or the Nominee where applicable, under the Terms.
14.4 Where applicable and allowed by law, we may receive commission and / or fee from any UTMC or any other source for the subscription order you made, and we shall be entitled to retain such commission for our own benefit and are not obliged to account to you for all or any part of such commission.
14.5 We may deduct such charges, fees, costs, expenses or taxes, or any other monies owed by you to us pursuant to any liability of any nature arising in respect of your investments or otherwise and you agree to indemnify us against such payments. For this purpose, we may withdraw and collect uninvested cash in your account and / or sell your investments and collect the proceeds from such sale.
15.1 When you submit an application to redeem units, we will repurchase units from you upon receipt of a valid instruction, at the price (NAV) of the fund as determined in accordance with the terms of the Deed of the relevant fund.
15.2 If you have invested in any funds via the EPF Member Investment Scheme, any payment of redemption proceeds shall be made payable to EPF only.
15.3 Please take note that payment of redemption proceeds can only be made out in your favour, and any request to pay to a third party is strictly prohibited. We will pay to your bank account as advised by you, subject always to the prior verification of the bank account. We may request for any form of validation for verification prior to making such payments to you, and we will not be held responsible for any delay or loss incurred due to incorrect bank account number provided by you for payment of repurchase proceeds.
15.4 In the event your request for redemption results in your holding being less than the minimum balance of units required, we reserve the right to redeem all the units held by you.
15.5 You may switch investments from any one fund to another fund managed by the same investment manager (unless otherwise stated by the Deed for the relevant fund). Any distribution instruction earlier given for that fund switched out will apply to the additional units and remain unchanged. If the switching is made to a new fund / investment, the net amount switched must meet the minimum requirement of the new fund’s initial investment amount.
15.6 In the event any request for switching results in your holding being less than the minimum balance of units required, we reserve the right to fully switch all the units held by you.
15.7 Any switching fee as disclosed in the relevant prospectus / information memorandum / disclosure document and any supplemental thereto, shall be charged to and be borne by you.
15.8 Cooling-off is only available to you if you are investing into any unit trust fund or private retirement scheme managed by the investment manager for the first time.
15.9 A cooling-off request must be made within the prescribed period as stated in the prospectus / information memorandum / disclosure document of the relevant fund.
15.10 Cooling-off requests is currently not available on our Online Portals. You are required to contact our Customer Service to submit your request for cooling-off .
16.1 We reserve the right to accept or reject any application made by you in whole or in part without assigning any reason in respect thereof and without providing any compensation to you.
16.2 Notwithstanding anything contained herein, we shall be at the liberty to disregard or refuse to process any of the instructions given if the processing of such instructions would be in contravention of any laws or regulatory requirements whether or not having the force of law and / or would expose us to any liability.
16.3 In the event we become aware that you are no longer eligible to be a unit holder in any funds offered by us, we shall be deemed to have received a transaction request by you to exit you from the funds that you are ineligible to be a unit holder of.
17.1 We shall be entitled to take all actions we consider appropriate for us to meet any obligation, or requirement either in Malaysia or elsewhere, in connection with the detection, investigation and prevention of financial crime including fraud, money laundering, terrorism financing, bribery, corruption, or tax evasion or the enforcement of any economic or trade sanction (“Financial Crime”).
17.2 You understand and agree that if any activities, conduct or circumstances you are involved in (directly or indirectly) may expose us to legal or reputational risk, or actual or potential regulatory or enforcement actions, or if the acceptance of your monies shall constitute a breach of any law, regulations or internal policies on Financial Crime, we shall at any time, without giving any reason, have the right to immediately:(i) close all accounts and terminate all services you have with us; and / or (ii) make reports and take such other actions as we may deem appropriate.
17.3 You undertake that you will not initiate, engage in or effect a transaction (directly or indirectly) that may involve Financial Crime and agree to hold us harmless, indemnify us and keep us indemnified from and against any and all liabilities, claims, obligations, losses, damages, penalties, actions, judgments, suits, costs (including, but not limited to, legal costs on a full indemnity basis), expenses and disbursements of any kind whatsoever which we may suffer or incur in connection with or arising from any breach by you of this undertaking.
18.1 We shall not be liable for any direct, indirect, special or consequential damages which may be suffered and / or to be suffered by you, such as, but not limited to, loss of anticipated profits or other anticipated economic benefits, whatsoever or howsoever caused, whether in contract or in tort (which includes but is not limited to negligence), arising directly or indirectly in connection with or arising out of the Terms.
18.2 Save and except for our gross negligence or wilful default, you hereby agree to indemnify and keep indemnified us, our directors, officers, shareholders, and employees against any direct and / or indirect cost, actions, claims, expenses, fees, liabilities, penalties, fines, suits, losses, and / or damages suffered and / or incurred by us arising out of and / or in connection with the following (or any of them):
i. any instructions, forms, accounts and payments requested by you;
ii. any inaccuracies in the information and declarations provided by you;
iii. your use or misuse of the mobile application facility we offer;
iv. the preservation or enforcement of our rights or exercise of our powers under the Terms; and
v. a breach of your obligations under the Terms and / or the specific terms and conditions for the mobile application.
Any monies that is due and owing by you to us and / or the Nominee, where applicable, in relation to the Form, electronic setup of your account, and / or relevant fund, we and / or the Nominee, where applicable, shall be entitled to set-o those monies due and owing against any assets, cash, and / or units held with and / or in the possession of us and / or the Nominee.
20. Successor Bound
The Form or electronic setup of your account (as the case may be) and all other transactions envisaged shall be binding upon heirs, personal representatives, successors-in-title, and permitted assigns of yours subject to our approval.
21. Governing Law
The Terms shall be governed and construed in accordance with the laws of Malaysia and all parties hereby agree to submit to the exclusive jurisdiction of the courts of Malaysia.
22. Amendment
We reserve our sole and absolute discretion to, at any time, amend, modify, and / or vary the Terms, including but not limited to terms and conditions which may be imposed pursuant to the requirements of any law and regulations, without prior reference to you. Upon the imposition or amendment being posted by us on our website, mobile application or being notified by e-mail, notice of the same shall be deemed to have been effected at the time when the notice is posted on the website or mobile application or e-mail (as the case may be). By the continued usage of the services we offer, you shall be deemed to have agreed to and accepted the new or amended terms and conditions imposed by us and these provisions shall be binding upon you from the date of notice being effected. The relevant provisions stated herein shall thereafter be deemed to have been amended, modified, supplemented, and / or varied accordingly and shall be read and construed as if such amendments, modifications, supplements, and / or variations had been incorporated in, and had formed part of the Terms at the time of execution hereof.
23. Severability
If any of the Terms is illegal, void or unenforceable for any reason whatsoever, the said terms and conditions shall be deemed ineffective to the extent of such illegality, voidness or unenforceability without invalidating the remaining portion hereof.
24. Termination
We reserve our sole and absolute discretion to terminate the services provided hereunder at any time without assigning any reason whatsoever and we shall not be held liable for any of your losses and / or damages suffered and / or incurred as a result thereof. All disclaimers, indemnities, and / or exclusions in the Terms shall survive the termination.
a) GENERAL TERMS AND CONDITIONS applicable to Providers and PPA (Governed by and construed in accordance with laws of Malaysia).
1. Account Opening
1.1 The Applicant shall be bound by these terms and conditions, the Disclosure Document, the Supplementary Document(s) (if any) and also the terms and conditions stated in this application form and the webpage of the Provider and the Private Pension Administrator ("PPA"). For further information about the PRS Scheme or Funds with the Provider, please refer to Provider’s webpage at (www.aham.com.my) and for further information about PPA, please refer to PPA’s webpage at www.ppa.my
1.2 The Provider and/or PPA shall be entitled at any time and without prior reference to the Applicant to add, vary or amend any or all of the terms and conditions herein at its sole and absolute discretion
1.3 Upon submission of this form as well as other supporting documents, the information contained therein will be used by the Provider and PPA for creation of account and record purposes.
1.4 The Provider and PPA shall have the absolute discretion in the opening of an account.
1.5 All instructions and/or information given in writing to the Provider and/or PPA, including this form are binding on the Applicant.
2. Personal Data/Information
Personal data provided by the Member on the joint application form and details of transactions or dealings by Members provided from time to time thereafter may be used and/ or disclosed by the PPA and /or the PPA’s personnel for the following purpose:-
2.1 The use and/or disclosure of the PPA members’ personal information to any party is necessary for the completion of any transaction, dealings or in connection with services that the PPA may provide to the PPA members;
2.2 If required by the applicable laws, regulations, directives, guidelines, regulatory authorities, government authorities and/or court of competent jurisdiction; and
2.3 To any PPA’s delegates, service providers or any third party that the PPA may engage on the basis that the recipient would continue to maintain confidentiality of the PPA’s members personal information.
2.4 Members are also advised to read the PPA Privacy Notification.
It shall be the PPA members’ obligation to notify the PRS Provider and PPA of any change in PPA members’ address, e-mail or contact number immediately to ensure continuity in the receipt of communication from the PPA.
4. Anti-Money Laundering
The Applicant hereby warrants that: -
4.1 No person other than the applicant has or will have any interest in the account (where applicable); and
4.2 All monies as may be paid to the Provider and/or PPA from time to time shall come from a legitimate (and not illegal) source;
4.3 The Applicant agrees to provide all such information and documents as may be necessary to verify the Applicant's identity and do all such acts and things as may be necessary to enable the Provider and/or PPA to comply with all applicable anti-money laundering and counter financing terrorism (AML/CFT) and the governing law, rules and regulations (whether in Malaysia or elsewhere). The Applicant agrees that the Provider and/or PPA shall not be liable or responsible in anyway whatsoever and shall be held harmless against any loss arising as a result of or in connection with any delay or failure to process any application or transaction if such information or documents requested by the Provider and/or PPA have not been promptly provided by the Applicant to the Provider and/or PPA.
4.4 The Provider and/or PPA reserves the right to terminate the relationship if any documents requested pursuant to the AML/CFT requirements are not received within 14 days.
5. General
In the event of any inconsistency between the provisions of these Additional Terms and Conditions and the General Terms and Conditions, the provision which imposes a stricter obligation on the Member shall prevail, but only to the extent of such inconsistency.
b) PPA’s TERMS AND CONDITIONS
1. The PPA members have been informed of the fees payable to the PPA. The PPA fees payable to the PPA are as follow:-
i. Account opening fee (RM10)
ii. Annual maintenance fee (RM8) (payable only when there is contribution)
iii. Administration fee of 0.04% of the Fund’s NAV charged to the funds by Provider
iv. The above may be collected by the PRS Provider acting on behalf of the PPA. For further information on the PPA's fees and charges, please refer to http://www.ppa.my/ppa/member-services/prs-transactions/
2. PPA reserves the right after 6 months of notification to the member to close a PPA account that does not reflect any balance in the PPA account due to the following reasons: -
i. Full amount withdrawn (upon attaining retirement age)/ permanent departure and account has zero units for 6 months; or
ii. Upon release of the deceased member’s funds to beneficiaries/ nominees/ next-of-kin pursuant to a Letter of Administration or Grant of Probate.
3. Variation
The PPA shall be entitled at any time and without prior reference to the PPA members’ to add, vary or amend any or all of the terms and conditions herein and/or the PPA’s website and/or the joint application form at its sole and absolute discretion.
