APPLICATION FORM Corporate Inheritance Tax Service · Send the completed form, with the client...

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1. Pleasereadthebrochureandthetermsatthebackofthisapplicationform.

2. Nextcompletepage2andthenfollowtheinstructions.

3. Makeacopyofthecompletedformforyourownrecord.

4. Encloseyourchequeunlessyouareusingabanktransfertomakeyourinvestment.Ifyouwishtouseabanktransfer,pleasedonotmakethetransferuntilwesendyouarequest.

5. IfyouhavenotinvestedwithRockpoolbefore,pleaseencloseacopyofthephotographpageofyourpassport.WealsoacceptanIdentityVerificationCertificatefromanFCAauthorisedfirm.IfyouarenottheInvestor,wewillneedacopyofthephotographpageofyourpassportandtheInvestor’spassport.

6. Sendyourcompletedformandattachmentstoyourfinancialadviser,whowillcompletepage8andforwardtheapplicationtous.

Wewillnormallyacknowledgereceiptofyourcompletedapplicationwithin1weekofreceivingit.Ifyouneedanyhelp,pleasespeaktoyourfinancialadviserorcalluson02038548100.

About Rockpool

RockpoolInvestmentsLLPisauthorisedandregulatedbytheFCAunderfirmreferencenumber572300andhasitsregisteredofficeat10BressendenPlace,LondonSW1E5DH.Inthebrochureandthisapplicationform,“Rockpool”meansRockpoolInvestmentsLLP.

Warning

Thevalueofinvestmentsandtheincomederivedfromthemmaygodownaswellasupandyoumaynotgetbackthefullamountinvested.InvestmentsinprivatecompaniescarrygreaterriskandarelessreadilyrealisablethaninvestmentsincompanieslistedontheLondonStockExchangeandshouldnotberegardedasashort-terminvestment.

Ifyouareinanydoubtabouttherisksofinvestinginprivatecompanies,youshouldconsultyourfinancialadviserbeforeproceeding.

September2018

Send the completed form, with the client terms, by email to team@rockpool.uk.com

APPLICATION FORMCorporate Inheritance Tax Service viaFCARegulatedIntermediary

rockpool.uk.com 02038548100 10BressendenPlaceLondonSW1E5DH

RockpoolInvestmentsLLPisauthorisedandregulatedbytheFinancialConductAuthority

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ALL INVESTORS PLEASE COMPLETE THIS PAGE

IDENTITY VERIFICATION

InordertoverifyyouridentityandaddresswewilluseanelectronicverificationserviceprovidedtousbyVeriphy,orsuchotherthirdpartyserviceproviderasmaybeengagedbyusfromtimetotime.

Bycompletingthisformandsendingacopyofyourpassport,youconsenttotheaccess,processing,useandstorageoftheidentityinformationprovidedforthepurposeofcompletingyouridentityverificationcheck.

Informationaboutyourcompany’sloanbookwillbeavailableonline.Thisincludes:

•alistofallloanadvances,interestpaymentsandrepayments

•regularupdatesoneachborrower

Wewillsendlogindetailstoyoubyemail,unlessyoutellusnottodoso.

Donotsendmelogindetails.

WewillsendregularalertstoyouANDanyperson(s)namedonpage8toadvisethatnewupdatesrelevantto

yourloanbookareavailableonourplatform.Ifyouprefernottoreceivealerts,pleasetellus:

SendalertsONLYtoperson(s)namedonpage8.

BycompletingthisformyougivetheIntermediarynamedonpage8authoritytoaccessinformationonyourloan

bookandtoinstructustogivesuchaccesstoanyotherdirectororemployeeofthefirmnamed

onpage8.

I wish Rockpool to set up and administer a new company (please complete page 3)Please state the value of your net assets(otherthanyourprincipalresidence) <£1m £1m-£5m £5m-£10m >£10mPlease state the source of your assets(pleasetickallthatapply)

Investmentprofits Saleofmainresidentialproperty Inheritance/divorcesettlement

Employmentincome Gift/winnings Other(pleasespecify)________________________

Pleaseprovideacopyofthephotographpageforallshareholderswithmorethan25%oftheCompany’sshares.WealsoacceptanIdentityVerificationCertificatefromanFCAauthorisedfirm.IfyouarenottheInvestor,wewillneedacopyofthephotographpageofyourpassportandtheInvestor’spassport.

Ihaveenclosedacopyofmypassport Ihavesentacopyofmypassportbyemail

I will use an existing company to make loans (please complete pages 4 and 5)Please state the value of your Company’s net assets(otherthanyourprincipleresidenceandnetofanyloans) <£1m £1m-£5m £5m-£10m >£10mPlease state the source of your Company’s net assets(pleasetickallthatapply)

Investmentproceeds Saleofproperty/assets Profits Bank/buildingsocietyloan InvestmentbyBeneficialOwner/Partner

COMMUNICATIONS AND REPORTING

SET UP A NEW COMPANY

USE AN EXISTING COMPANY

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Setupandadministrationserviceswillbechargedtoyourcompanybytheindependentadministrationprovider.Thecurrentrateis£350+VATforinitialsetup.TheannualexVATcostsforavailableservicesareasfollows:

Theapplicableratesmaychangeovertime.Ifyouwishyourcompanytotakeotheractions,suchasbuyingbacksharesorpayingdividends,costswillbesubjecttoagreementatthetime.Yourcompanycanuseitsownserviceproviderorinternalresourcesinsteadoftheindependentadministrationprovider,inwhichcasecostswillbeasagreedbyyourcompany.Yourcompanycanterminatetheservicesoftheindependentadministrationprovideratthreemonths’notice,providedalternativearrangementsforadministrationareinplace.

Iwishtoinvest£(minimum£250,000)inacompanywhichRockpoolwillsetupandadministeronmybehalf.

Mypreferenceforthecompanynameis

Iunderstandthatmycompanywillpaysetupandannualadministrationcosts

AutoSelect

IherebyinstructRockpooltoauto-selectloansonbehalfofthecompany(pleasecompleteeitherpage6or7).

Amount(minimum£250,000)Minimumno.ofborrowers

IunderstandthatRockpoolwilllendtheaboveamounttothenumberofborrowersIhavespecified,orifgreater,thenumberofborrowersavailableatthesametime.Iunderstandthattheamountlenttoeachborrowerwillbedeterminedbyanallocationformula,whichincludesprovisionforscalingintheeventofover-subscription,andthatRockpoolwillnotexercisediscretioninapplyingtheallocationformula.

Theamountmustbeatleast£50,000.Themoreborrowersyouspecify,thelongeritwilltakeforyourmoneytobedeployed.Ifyourchoiceswouldresultinlessthan£50,000beinglenttoeachborrower,oriftheamountcannotbedividedevenlyintoamountsof£50,000,thismayresultinusadjustingtheamountbeinglenttoanyborrower.Ifwedoso,wewillseektomaketheleastadjustmenttoyourchoices.Inthiscase,yourcompany’sloanbookwouldnotmatchthechoicesyouspecify.Weexpect6-8borrowerstobeavailableinanyperiodof12months.

SelfSelect

Iwillself-selectloansastheopportunitiesarepresentedtome.IunderstandthatIwillbeactingasanauthorisedsignatoryofthecompany(pleasecompleteeitherpage6or7).

COMPLETE THIS PAGE IF YOU WANT ROCKPOOL TO SET UP AND ADMINISTER YOUR COMPANY

SET UP AND ADMINISTRATION SERVICE FEES

PLEASE CHOOSE ONE OF THE FOLLOWING OPTIONS

INVESTOR’S PERSONAL DETAILS

Title Firstname

Surname Middlenames

Nationality Dateofbirth

Email

Address

City County

Postcode Phonenumber

£

ADMINISTRATION SERVICE ANNUAL COSTS

Quarterlymanagementaccounts £1,800

Statutoryaccounts £1,650

Corporationtaxreturn £700

Annualreturn £165

TOTAL £4,315

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Companyname

Registeredaddress

City Postcode

CorrespondenceAddress(ifdifferenttoeithertheregisteredaddressaboveortheauthorisedsignatoryaddressbelow)

City Postcode

AutoSelect

IherebyinstructRockpooltoauto-selectloansonbehalfofthecompany(pleasecompleteeitherpage6or7).

Amount(minimum£250,000)

Minimumnumberofborrowers

IunderstandthatRockpoolwilllendtheaboveamounttothenumberofborrowersIhavespecified,orifgreater,thenumberofborrowersavailableatthesametime.Iunderstandthattheamountlenttoeachborrowerwillbedeterminedbyanallocationformula,whichincludesprovisionforscalingintheeventofover-subscription,andthatRockpoolwillnotexercisediscretioninapplyingtheallocationformula.

Theamountmustbeatleast£50,000.Themoreborrowersyouspecify,thelongeritwilltakeforyourmoneytobedeployed.Ifyourchoiceswouldresultinlessthan£50,000beinglenttoeachborrower,oriftheamountcannotbedividedevenlyintoamountsof£50,000,thismayresultinusadjustingtheamountbeinglenttoanyborrower.Ifwedoso,wewillseektomaketheleastadjustmenttoyourchoices.Inthiscase,yourcompany’sloanbookwouldnotmatchthechoicesyouspecify.Weexpect6-8borrowerstobeavailableinanyperiodof12months.

SelfSelect

Iwillself-selectloansastheopportunitiesarepresentedtome.IunderstandthatIwillbeactingasanauthorisedsignatoryofthecompanytomaketheloans(pleasecompleteeitherpage6or7).

Title Firstname

Surname Middlenames

Nationality Dateofbirth

Email

Address

City Postcode

Phonenumber

Pleaseusethisaddressforallcorrespondence

INVESTORS WITH AN EXISTING COMPANY PLEASE COMPLETE THIS PAGE

PLEASE CHOOSE ONE OF THE FOLLOWING OPTIONS

DETAILS OF COMPANY

DETAILS OF AUTHORISED SIGNATORY

£

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PleaselistallControllingPersonsofthecompany.ControllingPersonmeanssomeonewhoownsorcontrolsmorethan25%oftheCompany,whetherdirectlyorindirectly.Wherenonaturalpersonholdsmorethan25%ownershiporexercisescontrolthroughothermeans,theseniormanagingofficialistheControllingPerson.

IfanyControllingPersonoftheCompanyistaxresidentinanyjurisdictionoutsidetheUK,pleaseprovidedetailsoftaxjurisdictionandrelevantTaxIdentificationNumber(TIN).Ifapersonistaxresidentinmorethanonejurisdiction,pleaseenterallrelevantjurisdictions.Alistonaseparatesheetisacceptableprovideditisintheformatbelowandisdatedandinitialledbythepersonsigningthisform.

UNDERSTANDING THE TABLE ABOVE

Relationship–enteroneofthefollowing:Shareholder,Seniormanagingofficial,Other.Taxjurisdictions-theChannelIslands,IsleofManandcrowndependenciesaretreatedasbeingoutsidetheUK.InrelationtotheUS,“taxresident”meansUScitizen,greencardholder,orresidentoftheUS.TIN–forGibraltar,GuernseyandJersey.TINmeanssocialsecuritynumber;forIsleofMan,TINmeansnationalinsurancenumber.Forotherjurisdictions,ifnotaxidentificationnumberisavailable,socialsecuritynumber(orsimilar)isacceptable.

IherebycertifythattheinformationgivenaboveistrueandcompleteandundertaketonotifyRockpoolwithin30daysofanychangeintheinformation.IacknowledgethatinformationregardingtheAccountandtheControllingPerson(s)maybereportedtoHMRCandexchangedwithtaxauthoritiesofothercountriesinwhichtheControllingPerson(s)aretaxresident.Iwillensurethateachpersonnamedonthisformisawareofthatfact.IamauthorisedtosignonbehalfoftheCompany.

IDENTITY VERIFICATION

PleaseprovideacopyofthephotographpageofthepassportforallControllingPersons.

Authorisedsignatoryname

Signature Date

Fullname RelationshiptoAccount Homeaddress Dateofbirth Taxjurisdiction(s) TIN

CONTROLLING PERSONS

INVESTORS WITH AN EXISTING COMPANY PLEASE COMPLETE THIS PAGE

BANK DETAILS

Accountname:

Accountnumber: Sortcode://

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If you cannot sign this declaration, please complete the declaration on page 7.

Statement for Self-Certified Sophisticated Investor

IdeclarethatIama self-certified sophisticated investor becauseat least one of the following applies:

a) Iamamemberofanetworkorsyndicateofbusinessangelsandhavebeensoforatleastthelastsixmonthspriortothedatebelow;

b)Ihavemademorethanoneinvestmentinanunlistedcompanyinthetwoyearspriortothedatebelow;

c) Iamworking,orhaveworkedinthetwoyearspriortothedatebelow,inaprofessionalcapacityintheprivateequitysector,orintheprovisionoffinanceforsmallandmediumenterprises;

d)Iamcurrently,orhavebeeninthetwoyearspriortothedatebelow,adirectorofacompanywithanannualturnoverofatleast£1million.

I understand that signing this certificate means:

a) IcanreceivefinancialpromotionsthatmaynothavebeenapprovedbyapersonauthorisedbytheFinancialConductAuthority;

b)thecontentofsuchfinancialpromotionsmaynotconformtorulesissuedbytheFinancialConductAuthority;

c) by signing this certificate I may lose significant rights;

d)Imayhavenorighttocomplaintoeitherofthefollowing:

i) theFinancialConductAuthorityorii)theFinancialOmbudsmanScheme;

e) ImayhavenorighttoseekcompensationfromtheFinancialServicesCompensationScheme.

f) Rockpoolwillstoremypersonalinformationandwillsendmedetailsofinvestmentsandotherrelevantinformation.MypersonalinformationwillbeprotectedinlinewithRockpool’sprivacypolicy.

I accept that I can lose the money that I invest by making investment decisions based on financial promotions.Iamawarethatitisopentometoseekadvicefromsomeonewhospecialisesinadvisingoninvestments.Iamaged18orover.IHEREBYDECLARETHATIhavereadandunderstoodRockpool’sClientTermsandIagreetobeboundbythem.IacknowledgethatRockpoolhasnotadvisedme,onanyaspectofthisinvestment,includingwhetheritissuitableforme.IunderstandthatmycapitalisatriskandImaynotreceivebackwhatIinvest.IacceptthatinformationrelatingtoinvestmentopportunitieswillbeprovidedtomeonastrictlyconfidentialbasisandIundertakenottodisclosesuchinformationtoanypersonwithoutpriorwrittenpermissionfromRockpool.

For Investors that are paying charges for this application

Iauthorisetheinitialchargeforthisapplicationtobedeductedfromthetotalapplicationamountbeforefundsarelent.Iauthoriseanyongoingchargetobepaidfromcashonthisaccount.

TO BE SIGNED BY THE INVESTOR NAMED ON PAGE 3 OR THE AUTHORISED SIGNATORY OF THE COMPANY NAMED ON PAGE 4

Signature Date

Fullname(inblockcapitals)

Rockpoolwillholdandprocessyourdatainordertofulfilourlegitimateinterestinservingyouandcommunicatingwithyouandincomplyingwithregulatoryandlegalrequirements.Fordetailsofhowandwhyweprocessyourdataanddetailsofhowtoexerciseyourrights,pleasevisitRockpool’sPrivacyNoticewhichcanbefoundatwww.rockpool.uk.com

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If you cannot sign the declaration on page 6, please complete this declaration.

Statement for Certified High Net Worth InvestorIdeclarethatIama certified high net worth investor becauseat least one of the following applies:a)Ihad,duringthefinancialyearimmediatelyprecedingthedatebelow,anannualincometothevalueof

£100,000ormore.Annualincomeforthesepurposesdoesnotincludemoneywithdrawnfrommypensionsavings(exceptwherethewithdrawalsareuseddirectlyforincomeinretirement).

b)Iheld,throughoutthefinancialyearimmediatelyprecedingthedatebelow,netassetstothevalueof£250,000ormore.

Netassetsforthesepurposesdonotincludei.thepropertywhichismyprimaryresidenceoranymoneyraisedthroughaloansecuredonthatproperty;ii.anyrightsofmineunderaqualifyingcontractofinsurancewithinthemeaningoftheFinancialServicesand

MarketsAct2000(RegulatedActivities)Order2001;oriii.anybenefits(intheformofpensionsorotherwise)whicharepayableontheterminationofmyserviceoron

mydeathorretirementandtowhichIam(ormydependentsare),ormaybe,entitled;oriv.anywithdrawalsfrommypensionsavings(exceptwherethewithdrawalsareuseddirectlyforincomein

retirement).Iunderstandthatthismeans:a) IcanreceivefinancialpromotionsthatmaynothavebeenapprovedbyapersonauthorisedbytheFinancial

ConductAuthority;b) thecontentofsuchfinancialpromotionsmaynotconformtorulesissuedbytheFinancialConductAuthority;c) bysigningthisstatementImaylosesignificantrights;d) ImayhavenorighttocomplaintoeithertheFinancialConductAuthorityortheFinancialOmbudsman

Schemee) ImayhavenorighttoseekcompensationfromtheFinancialServicesCompensationScheme.f) Rockpoolwillstoremypersonalinformationandwillsendmedetailsofinvestmentsandotherrelevant

information.MypersonalinformationwillbeprotectedinlinewithRockpool’sprivacypolicy.Please tick all boxes that you believe to be true

ImayloseallthemoneyIinvestinprivatecompaniesSmallcompaniesaremorelikelytofailthanlargecompanies,becausetheytendtobemorereliantonafew

keypeopleorcustomersorproductsorotherfactorsMyshareofthevalueofaprivatecompanymaybereducedifthecompanyneedsmoremoneyinthefuture

andIcan’torIdon’twanttoinvestfurtheronthetermsavailableatthetimeImaynotbeabletosellprivatecompanyinvestmentswhenIwanttoPrivatecompanyinvestmentsarenotareliablesourceofincomeTaxreliefsthataresometimesavailableforinvestinginprivatecompaniesmaybelostifIorthecompanyfail

tocomplywiththeapplicablerules I accept that I can lose the money that I invest as a result of making investment decisions based on

financial promotions.Iamawarethatitisopentometoseekadvicefromsomeonewhospecialisesinadvisingoninvestments.IconfirmthatIhavethenecessaryknowledgeandexperiencetomakemyowndecisionsinrelationtoinvestmentsinunquotedsmallercompanies.IacceptthatinformationrelatingtoinvestmentopportunitieswillbeprovidedtomeonastrictlyconfidentialbasisandIundertakenottodisclosesuchinformationtoanypersonwithoutpriorpermissionfromRockpool.IHEREBYDECLARETHATIhavereadandunderstoodRockpool’sClientTermsandIagreetobeboundbythem.IacknowledgethatRockpoolhasnotadvisedme,andwillnotadviseme,onanyaspectofthisinvestment,includingwhetheritissuitableforme.IunderstandthatmycapitalisatriskandImaynotreceivebackwhatIinvest.Iconfirmthatmyinvestmentismadefrompersonalsavings.(Ifthislastsentenceisuntrue,deleteitandletusknowthesourceofyourinvestment.)

For Investors that are paying charges for this application Iauthorisetheinitialchargeforthisapplicationtobedeductedfromthetotalapplicationamountbeforefunds

arelent.Iauthoriseanyongoingchargetobepaidfromcashonthisaccount.

ALTERNATIVE DECLARATION FOR INVESTORS NAMED ON PAGE 3 OR THE AUTHORISED SIGNATORY OF THE COMPANY NAMED ON PAGE 4

Signature Date

Fullname(inblockcapitals)

Rockpoolwillholdandprocessyourdatainordertofulfilourlegitimateinterestinservingyouandcommunicatingwithyouandincomplyingwithregulatoryandlegalrequirements.Fordetailsofhowandwhyweprocessyourdataanddetailsofhowtoexerciseyourrights,pleasevisitRockpool’sPrivacyNoticewhichcanbefoundatwww.rockpool.uk.com

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Signature

Printname Date

FinancialServicesCompensationScheme:InvestmentsmadethroughRockpoolarecoveredbytheFSCS,subjecttothenormalrulesoftheScheme.

IunderstandthatRockpoolmaybringtomyattentioninvestmentopportunitiesofwhichIwasnotpreviouslyaware.IundertakenottobeinvolvedinlendingtoorinvestingorfacilitatinginvestmentinsuchopportunitiesdirectlyorindirectlyexceptthroughRockpool.

Intermediary

Firmname

Emailaddress

Address

City Postcode

DETAILS FOR PAYMENT

Bankname Accountnumber

Accountname Sortcode

Wewillsendconfirmationsandgiveaccesstotheclient’sportfoliototheIntermediarynamedabove.Iftheseshouldalsobesenttoanotherdirectororemployeeofthefirmnamedabovepleasecompletethedetailsbelow.

COMMUNICATING, REPORTING AND ACCESSING CLIENT INFORMATION

Name Email

Charges to be paid from the Investor’s account (Pleasecompletetheinitialandongoingcharge%below)

Initial charge %

Anyinitialchargewillbedeductedbeforethefundsareinvested

Ongoing charge %

Anyongoingchargewillbepaidsix-monthlyfromcashavailableontheInvestor’saccountwithRockpool.Anychargewhichcannotbemetwhenduewillbedeferreduntilsufficientfundsbecomeavailable.

Fees from investee companies and Rockpool Bytickingthisbox,youwarrantthatreceiptofthefeesisNOTaninducementunderFCArules.Thismaybethecaseif,forexample,youarenotadvisingtheInvestorinrelationtothisapplication,oryouaredoingsoonarestrictedadvicebasis,orifyouhaveanagreementwiththeInvestortocollectagreedadviserchargesinthisway.Eachinvesteecompanywillpayaninitialfeeof1.5%whenaloanisdrawndown.Rockpoolwillpayamonitoringfeeof0.5%toIntermediariesforassistanceinreportingtotheInvestor.Pleaseticktherelevantbox(es)belowifyouDONOTwishtoreceivetherelevantfee.

Noinitialfeeispayable Nomonitoringfeeispayable

CHARGES AND FEES

FOR COMPLETION BY INTERMEDIARIES

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1. Interpretation

Inthisdocument,“you”meansthepersonapplyingtobecome,orhavingbeenacceptedbyus,asaclientorasagentforaclientor,inthecaseofanaccountinthenameofaSIPP,trust,companyorothernon-naturalperson,suchpersonandtheperson(s)authorisedtosignonitsbehalf;“we”or“us”meansRockpoolInvestmentsLLP,whichisregisteredinEngland(OC369009)andbasedat10BressendenPlace,London,SW1E5DH;“FCA”meanstheFinancialConductAuthority;“FCARules”meansallregulationstowhichwearesubjectasanauthorisedentity;and“Terms”meansthetermsandconditionssetoutinthisdocument,asamendedfromtimetotimeandpublishedonwww.rockpool.uk.com.

2. Our investment service

WhenyouopenanaccountwithRockpool,youbecomeamemberofourinvestornetwork.Wewillseektoprovideyouwithopportunitiestoinvestdirectlyinindividualprivatecompaniesandwewillmakeinvestmentsinaccordancewithyourinstructions,subjectalwaystoanylimitationssetoutintheseTerms.Wewillbeentitledtoacceptinstructionsfromanypersonwhowereasonablybelieveisauthorisedtoinstructusinrelationtoyouraccount.

Whereyouinstructustomakeaninvestment,wewillsendyouanacknowledgementbyemail.Bytransferringfundstothecustodianaccount,youirrevocablyauthoriseustoapplythosefundstomakinginvestmentsinaccordancewithanyinstructionacknowledgedbyus,whetherbeforeorafterreceiptbyusofthefunds.Youmaywithdrawun-investedfundsatanytimebygivingustenbusinessdays’notice;anyinvestmentmadebythenomineeonyourbehalfbeforetheendofthenoticeperiodwillreducethefundsavailableforwithdrawal.

Wedonotprovidediscretionaryportfoliomanagementservices.Wewillnotborrowmoneyagainstyourinvestmentsorlendanysecuritiesheldonyourbehalf.Wewillnotinvestyourmoneyincollectiveinvestmentschemesorinderivatives.

InrelationtoSIPPaccounts,wewillnotmakeanyinvestmentunlesstherelevantinvestmentinstrumenthasbeenapprovedbytheregulatedSIPPtrusteeforinclusioninSIPPsoperatedbyit.Wewillinvestonlyincompaniesthatqualifyasgenuinelydiversecommercialvehiclesunderpensionrules.

3. Application, acceptance and accuracy of information

ByapplyingtobecomeaclientofRockpool,youconfirmtousthatyouhavetheknowledgeandunderstandingtomakeinvestmentdecisionsinrelationtoprivatecompanyinvestments,unlessyounominateapersonwiththeseskillstoactasyouragent.Ifyounominateanagent,wewillbeentitledtoaccepttheagent’sinstructionsinrelationtoyouraccount.Ifyouagreetoactasagentonbehalfofaclient,youconfirmtousthatyouhavetheknowledgeandunderstandingtomakeinvestmentdecisionsinrelationtoprivatecompanyinvestments.

ByapplyingtomakeanyinvestmentthroughRockpool,youconfirmtousthatyouhavethecapacitytoacceptthelossofanycapitalinvestedandyouundertakenottoinvestthroughRockpoolanymoniesgainedthroughillegalactivities.

Youpromisethatallinformationthatyouhavealreadyormayinfutureprovidetousinrelationtoyourstatusandaccountwithusiscomplete,accurateandnotmisleading.Youmustinformuspromptlyifthereisanychangeinyourpersonaldetailsorotherinformationrelevanttoyourstatusasourclient.Ifyourbankdetailschangeandyoudonotinformuspromptly,paymentsforyouraccountmaybelostordelayedatyourownrisk.

YouauthoriseustoreportinformationtoHMRCandyouacknowledgethatsuchinformationmaybeexchangedwithtaxauthoritiesofothercountries.Youmustensurethatallrelevantpersonsareawareofthisfact.

Wearenotobligedtoacceptanyapplicationtobecomeaclient,norwillwebeobligedtogivereasonsfornotacceptinganyapplication.Ifweacceptyourapplication,wewilltreatyouasaretailclient.

IfyouapplytouseourAutoSelectservice,wewillnotacceptyourapplicationifyourinvestmentamountdividedbythenumberofcompaniesyouspecifywouldresultinlessthan£2,500beinginvestedineachcompany.Ifyourinvestmentamountcannotbedividedevenlyintoamountsof£250,yourinvestmentamountwillbedeemedtobethenextlowestmultipleof£250andwewillreturnanybalanceofclearedfundstoyou.

4. Communications

Wewilltreatyouasthemaincontactforourcommunicationsinrelationtoyouraccount,unlessyounominateanotherpersonforthispurpose.ThemaincontactmustbeaclientofRockpooloradulyregulatedprofessional.Ifyouprovideuswithothercontactsinrelationtoyouraccount,youauthoriseustosharewiththemdetailsofyouraccountincludingallinformationthatweholdinrelationtoit.ReferencesintheseTermstocommunicatingwithyouwillbetreatedasreferringtocommunicationswiththemaincontact.YouandwewilluseEnglishasthesolelanguageforcommunicationsbetweenus.

CLIENT TERMS

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Ifyouapplytoinvestthroughanintermediary,wewillsendinformationtoyouandtheintermediary,unlessyouortheintermediaryrequestusnottodoso.Wheretheintermediaryisanemployee,directororpartnerinadulyregulatedfirm,youauthoriseustoallowanyemployee,directororpartnerofsuchfirmtoviewyourportfolioinformation.

Youwillhaveaccesstoyourportfolioinformationthroughthepassword-protectedsectionofourwebsite.Weaimtoprovidethisaccessonacontinualreal-timebasis,butwewillnotberesponsibleforanydamagecausedbyinterruptionsinthisaccess.Youareresponsibleforthesecurityofyourpasswordsandwewillnotbeliableforanydamageifyoufailtomaintainthesecurityofyourpasswords.

Wewillprovideareportoneachcompanyinyourportfolioonatleastasix-monthlybasis.Inmostcases,weexpectreportstobeavailableonaquarterlybasis,butwemayvarythetimingofreports.Wemayrefusetodiscloseanyinformationwhichis,inouropinion,commerciallysensitive.

Wewilluseemailastheprimemethodofcommunicatingwithyou.Ifyoudonotwishtouseemail,youshouldnominateasthemaincontactforyouraccountapersonwhousesemail.Alternatively,youmayrequestustocommunicatesolelybypost,inwhichcaseyouacceptthatthedelayinherentinpostalcommunicationsmayreduceyourabilitytomaketimelydecisionsaffectingyourportfolio.

Anynoticesentbyustotheemailaddressmostrecentlyprovidedtousbyyouwillbetreatedashavingbeendeliveredtoyouonehourafterthetimeofsendingunlesswehavereceivedanoticeofnon-delivery.Ifyouwishtoinstructusonanymatter,youwillcommunicatebyemailtoteam@rockpool.uk.comandanyemailsentbyyoutothisaddresswillbetreatedashavingbeendeliveredonehourafterthetimeofsending,providedthatwehaveconfirmedreceiptbyemailtoyou.Alternatively,youmayinstructusbywritingtoourregisteredaddressusingrecordeddelivery.

5. Nominee and custodian

Anymoneythatyoutransfertousandanymoneyreceivedbyusonyourbehalfwillbeheldinacustodianaccountuntilitisinvestedincompaniesasinstructedbyyouorpaidtoyou.AnyinvestmentthatyoumakethroughRockpoolwillberegisteredinthenameofanominee.Wewillselectthecustodianandthenominee.Thesearrangementsaredesignedtoensurethatyourinvestmentsaresafeguardedandarenotdependentonourfinancialstrength.However,itispossiblethatthenomineeoranycustodianorbankcoulddefaultontheirobligations.Wewillnotberesponsibleforanylossthatyoumaysufferasaresult,providedthatwehaveexercisedreasonablecareintheselectionoftherelevantnomineeorcustodian.

Youwillbethebeneficialownerofyourinvestmentsandyouwillbeentitledtorequestnoticeofinvesteecompanymeetingsandtovoteatthem.Youmaydirectustotransferyourbeneficialinterestinanyinvestmenttoanotherperson,providedthatthepersonisaclientofRockpoolandhaspaidanystampdutyarisingonthetransfer.Youauthoriseustovarythetermsofanytrustestablishedbythenomineetoholdinvestmentsonyourbehalf.

Anyinterestearnedonyourmoneysinacustodianaccountwillberetainedbyus.Wewillpayanyfeesorcostsdueforcustodianandnomineeservicesarrangedbyus.

Inconsiderationofthenomineeholdinginvestmentsonyourbehalf,youindemnifyRockpoolandthenomineeandeachoftheirdirectors,officers,members,employeesandagentsagainstalllosses,liabilitiesandreasonablecostswhichtheymayproperlyincurinperformingthisservice.Thisindemnitywillbelimitedtotheaggregateofthevalueofyourinvestmentsheldthroughthenomineefromtimetotimeandamountsdistributedtoyouinrespectofinvestments.Youagreetobeboundbythetermsofanyagreemententeredintobythenomineeinitscapacityasyournominee.Youagreenottowithdrawyourinvestmentsfromthenominee,exceptpursuanttoadecisionofinvestorsholdingmorethan50%(byamountsubscribedandnotyetreturned)oftheaggregateofinvestmentsheldbyallRockpoolclientsintherelevantinvesteecompany.

Wherewereceivedistributionsforyouraccountfromorinrelationtoinvesteecompanies,suchasinterest,dividendsandcapitalproceeds,wewillnormallypaysuchamountstoyouwithin14daysofreceiptbyus.Paymentswillbemadetothebankaccountlastprovidedtousbyyouorbyanyoneauthorisedtoactforyou,subjecttoanychangeinbankdetailsbeingnotifiedtousatleast3businessdaysbeforetheduedateforpayment.Interestwillbepaidnetofanywithholdingtax,whichcurrentlyappliesat20%forallindividualsandforcompaniesandotherentitiesbasedoutsidetheUK.

Ifthecashbalanceonyouraccountwithusislessthan£5,youauthoriseustopaysuchbalancetoanyUKregisteredcharity.

AnypaymentsthatwemakeoutofassetsheldforaSIPPaccountwillbemadesolelytoabankaccountoperatedbytheregulatedSIPPtrusteeonbehalfofthatSIPPaccount.

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6. Investor agent

Whenwemakeaninvestmentonyourbehalf,youbecomeamemberofaninvestorsyndicateinrelationtotherelevantshareclass(es)orloanclass(es)inthatinvesteecompanyandyouagreetothesyndicateappointingusastheinvestoragentfortherelevantsyndicate.Ourappointmentasinvestoragentisdistinctfromourinvestmentservice,andeachsyndicatemay,byadecisionofinvestorsholdingmorethan50%(byamountsubscribedandnotyetreturned)oftheaggregateofinvestmentsheldbyallrelevantinvestorsintherelevantshareorloanclass,replaceusinthatrolewithanalternativesuitablyqualifiedinvestoragent.

Bymakinganinvestment,youauthorisetheinvestoragenttoapprovecorporateactionsaffectingyourinvestmentandtoinstructthenomineeonyourbehalfthroughouttheholdingperiodofeachinvestment.

Whereweactasinvestoragent,wewillseektoconsultwithyouinrelationtomajordecisionsaffectingyourinvestments,suchasthesaleorwindingupofaninvesteecompanyandsignificantchangestothetermsofinvestments.Insuchsituations,wewillsendyouanupdatesettingouttheactionthatweproposetotakeonbehalfofinvestorsandwillimplementtheproposedactionunlessamajorityofrelevantinvestorsdirectsusotherwise,basedonasimplemajoritybyamountsubscribed,andnotyetreturned,oftherelevantinvestmentsheldbyallrelevantinvestors.Theinvestoragentmayactinadvanceofconsultationoratvariancetotheresultsofconsultationifitreasonablybelievesthatthisisnecessarytoprotecttheinterestsofrelevantinvestors.

7. Allocation and execution

Whereaninvestmentopportunityisover-subscribed,yourrequestedinvestmentmaybesubjecttoscalinginaccordancewithourallocationpolicy(acopyofwhichisavailableonrequest).Thismeansthatyoumaynotbeabletoinvesttheamountthatyourequest.Ifyoudonottransferfundstocompletetheinvestmentwithinanytimelimitwespecify,youmaylosetheopportunitytoinvest.Wemayvaryourallocationpolicyfromtimetotimewithoutnoticetoyou.Wewillnotbeobligedtoallocateanypartofanyinvestmentopportunitytoyou.

Tradeswillnotnormallybeexecutedonaregulatedexchange.Wemayaggregateyourtransactionswiththoseofotherinvestorsandifwedoso,wewillallocatesuchtransactionspromptly.Wewillexecuteordersinaccordancewithourorderexecutionpolicy,acopyofwhichisavailableonrequest.

8. Termination and withdrawal

Ifyouwishtowithdrawpartorallofyourinvestment,pleasenotifyusbywritingtousatourregisteredaddress.Wewillarrangeforthetransferofmoneytoyourbankaccountassoonaspossibleafterwereceiveyourwritteninstruction.Theamountyoureceivewillbelimitedtoanycashheldonyourbehalfplusthenetproceedsofsellinginvestmentsheldonyourbehalf.Ifweneedtosellinvestmentsinordertocoveryourwithdrawalrequest,theremaybeasignificantdelayintransferringmoneytoyou.

Youmayterminatetherelationshipbetweenyouandusatanytimebywrittennoticetous,providedthatthenomineeisnotholdinginvestmentsonyourbehalfatthetimeoftermination.

Wemayterminatetherelationshipatanytimebywrittennoticetoyouwithoutcompensation,inwhichcasewewillreturnanycashheldonyourbehalfandwilltransfertoyouthelegalownershipofanyinvestmentsheldonyourbehalf.

Wemayceasetoprovideyouwithaccesstonewinvestmentopportunitiesatanytime.Ifwedoso,wewillcontinuetoreportonyourexistinginvestments,providingthatyoucontinuetocomplywiththeseTerms.

Ifweproposetoceasetoactasinvestoragentinrelationtoanyinvestment,wewillinformrelevantinvestorsassoonasreasonablypracticableandwewillcallameetingwithin30daysinordertogivethoseinvestorsasagrouptheopportunitytoappointanappropriatealternateinourplace.

9. Exclusivity and confidentiality

Youundertakenottouseinformationregardinganyinvestmentopportunity,whichwehaveprovidedtoyouoryouragentsoradvisers,toinvestdirectlyorindirectlyin,ortoassistanyotherpersontoinvestdirectlyorindirectlyin,suchinvestmentopportunitywithoutourconsent.Youacknowledgethatanybreachofthisundertakingislikelytoresultinseriousdamagebeingsustainedbyusandyouagreethatyouwillcompensateusforanylossconsequentonsuchbreach.

Informationrelatingtoinvestmentopportunitiesandinvestmentsisprovidedtoyouonastrictlyconfidentialbasis.Youarenotpermittedtousesuchinformationexceptforthepurposesofconsideringandevaluatingtherelevantinvestmentopportunityormonitoringyourportfolio.Youmustnotdirectlyorindirectlydisclosesuchinformation(orallowittobedisclosed)toanypersonwithoutourpriorwrittenpermission.Wemayrefusetoprovideinformationtoyouifwehaveareasonableexpectationthatyouwillbreachtheobligationsinthissection.

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10. Complaints

Ifyouwishtocomplainaboutourservice,pleasewritetousatourregisteredaddress.Wewillinvestigatethecircumstancesandreportbacktoyou.Ifyouarestilldissatisfiedafterwehavegivenyouourfinalresponse,itmaybepossibleforyoutoreferyourcomplainttoTheFinancialOmbudsmanServiceatSouthQuayPlaza,183MarshWall,LondonE149SR.Acopyofourcomplaintshandlingprocedureisavailableonrequest.RockpooliscoveredbytheFinancialServicesCompensationScheme,butlossesoninvestmentsarenoteligibleforcompensationunlessyouhaveavalidclaimagainstusandwearenotabletomeetsuchclaim.FurtherinformationisavailablefromtheFinancialServicesCompensationSchemeat7thFloor,LloydsChambers,PortsokenStreet,London,E18BN.

11. Data protection

AnyinformationwecollectfromyouwillbeprocessedincompliancewithUKdataprotectionlegislation.Informationprovidedbyyouinrelationtoyourapplicationtobecomeourclientwillbeusedforthepurposesofprocessingyourapplication.Iftheapplicationissuccessful,yourinformationwillbeusedtosendyouinformationaboutinvestmentsandinvestorevents,toadministeryouraccountandtoadministeryourinvestments.Thismayincludepassingyourdetailstoinvesteecompaniesandrelevantregulatoryauthorities.Wemayalsouseyourinformationasnecessarytomeetourlegalobligations,includingunderFCARulesandanti-moneylaunderingregulationsandanyrelevantregulations.YourdatamaybeheldandprocessedonourbehalfbythirdpartiesthatcomplywithappropriatedataprotectionstandardsandincountriesoutsidetheEuropeanEconomicArea,inwhichcasewewilltakeappropriatestepstoadequatelyprotectit.Wewillnotshareyourinformationwiththirdpartiesforanyotherpurpose.Inparticular,wewillnotshareyourinformationwithanythirdpartiesformarketingpurposeswithoutyourconsent.Youhavearighttoaccessthepersonalinformationthatweholdaboutyou.Toobtainacopyofthisinformation,youshouldwritetotheComplianceOfficeratRockpoolInvestmentsLLPatourregisteredaddress.Byacceptingtheseterms,youconsenttothedisclosureofyourinformationthatwemayholdtoathird-partypurchaserofthewholeoranypartofourbusiness.

Inordertoverifyyouridentityandbackgroundwemayuseverificationservicesprovidedtousbythirdparties,includingonlinesystems.Byinstructingustoopenanaccount,youconsenttotheaccess,processing,useandstorageofallinformationyouprovidetousandanyinformationweobtainthroughotherlawfulmeans.

12. No advice

Wewillnotprovideyouwithadviceormakeanypersonalrecommendationtoyou.IfyoubelievethatanymemberofRockpool’sstaffhasgivenyouadviceonanymatterrelatingtoinvestmentsortaxation,youmustpromptlyinformusbywritingtotheComplianceOfficeratourregisteredaddress.Youagreenottomakeanydecisioninrelationtoanyinvestmentonthebasisofsuchadvice.

Wedonotrepresentthatanyparticularinvestmentwillbesuitableforyourcircumstances.Whereweundertakeduediligenceintoaninvesteecompanyandprovidethattoyou,wedosoonthebasisthatwehavemadesuchenquiriesasweconsiderreasonableinthecircumstancesandthattheinformationthathasbeenprovidedtousbytherelevantcompanyiscorrectandnotmisleading.Wecangivenowarrantythatourduediligenceprocesswilluncoverallmattersmaterialtoaninvestment.Ourduediligenceinformationisnotarecommendationtoyoutomakeanyinvestmentandisprovidedforinformationpurposesonlyinsupportofyourinvestmentdecision.

Wewillprovideourserviceswithdueskill,careanddiligence.Wewillensurethatourcommunicationsareclear,fairandnotmisleading.Wherenotesaregivenonthetaxconsequencesofanyinvestment,thesenotesdonotconstitutespecificadviceandwillbeofagenericnatureonly.Werecommendthatyouseekprofessionaladvicebeforemakingdecisionsinrelationtoyourinvestments.

13. Charges

Wewillnotchargeyouforourservice.Wechargefeestoinvesteecompanies,whichmayaffectthereturnsavailabletoinvestors.Wewillnotrequireyoutoinvestorpaymorethantheamount(s)youapplytoinvest.

14. Liability

WewillnotbeliableforanylossordamageresultingfromyounotreceivingnotificationofinvestmentopportunitiesorofdecisionsaffectingyourportfoliotakenbytheinvestoragentinaccordancewiththeseTerms.

Ifweareliabletocompensateyouforanylosssufferedoninvestmentsduetoabreachbyusofourobligations,theamountofcompensationwillbethesumrequiredtoputyouinthepositionthatyouwouldhavebeeninhadwenotbreachedourobligations.

Allwarranties,conditionsandothertermsimpliedbystatuteorcommonlaware,tothefullestextentpermittedbylaw,excludedfromtheseTerms.Wedonotexcludeourliabilityfordeathorpersonalinjurycausedbyournegligenceorforanyfraudulentmisrepresentationbyus.NothingintheseTermsaffectsthestatutoryrightsofindividuals.

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Subjecttotheremainderofthisparagraph,weshallnotbeliabletoyouforanyactsoromissions(includingthoseofouremployees,agentsandsub-contractors)arisingasaresultof,orinconnectionwithyoubeingaclient.

15. Conflict of interests

ConflictsofinterestmayarisebetweenclientswithdifferentinterestsinaparticularinvesteecompanyandbetweenclientsandRockpoolormembersofitsstaff.Rockpoolandstaffmembersmayinvestpersonallyinsharesandloansissuedbyinvesteecompanies.Wewillatalltimesseektoactinthebestinterestsofallclientsasawhole.

16. General

WemayamendtheseTermsifwebelieveitnecessaryinordertorespondproportionatelytochangesinlawandregulations.WemayalsoamendtheseTermstoreflectchangestooursystems,administrativeprocessesandprocedures,marketpracticeorclientrequirements.WemaydelegateanyofourfunctionsundertheseTerms.Wewillexerciseduecareintheselection,useandmonitoringofanydelegates.

WemayassignourrightsandobligationsundertheseTermstoanyappropriatelyregulatedperson.Youwillnotassignortransferanybenefit,interestorobligationundertheseTerms.

IfanypartofthewordingoftheseTermsisdeclaredtobeillegal,invalidorunenforceable,thatpartwillbedeletedandtherestoftheTermswillremaininforce.AnyfailureordelaybyustoexercisearightorremedyundertheseTermsorbylawdoesnotconstituteawaiverofanyrightsorremedies.

TheseTermsandanydisputearisingoutoforinconnectionwiththeirsubjectmattershallbegovernedbyEnglishlawandyouandwesubmittothenon-exclusivejurisdictionoftheEnglishcourts.

Onlywe,you,oryourpersonallegalrepresentativecanenforcetheseTerms.TherightsofanyotherpersonundertheContracts(RightsofThirdParties)Act1999toenforceanyprovisionoftheseTermsareexcluded.

17. IFISA

Thefollowingparagraphs,whosetitleincludestheword“IFISA”,setouttermsapplyingonlytoRockpoolInnovativeFinanceISAaccounts(“RockpoolIFISA”).Werefertothemasthe“IFISAParagraphs”.AllothersectionsoftheseTermsapplytoallaccountsincludingRockpoolIFISAsunlessotherwisestated.Intheeventofanyconflict,inrelationtoaRockpoolIFISAaccount,betweentheIFISAParagraphsandanyothersectionoftheseTerms,theIFISAParagraphsshallprevail.IntheIFISAParagraphs,we,usandourrefertoRockpoolinitscapacityastheISAManagerforallRockpoolIFISAs.

18. IFISA - Definitions

IntheIFISAParagraphs,thefollowingwordshavethemeaningshowninthissection.

- “Borrower”meansaprivatelimitedcompanywhichissuesanInvestment;

- “Investment”meansanydebenture(meaninginthiscontextaloannote)whichisaQualifyingInvestmentforthepurposesoftheISARegulationsandwhichismadeavailableforinvestmentthoroughus;

- “ISARegulations”or“Regulations”meanstheIndividualSavingsAccountRegulations1998(asamendedorreplacedfromtimetotime).

- “Platform”meanstheonlinesystemoperatedbyusthroughwhichyouwillbeabletochooseInvestmentsandaccessreportinginformation;

- “RockpoolIFISA”meansadesignatedaccountwithuswhichissubjecttoorhasthebenefitofanISAwrapperaspermittedundertheISARegulations.

19. IFISA - General

YourRockpoolIFISAcanonlyholdcashandInvestments.YourRockpoolIFISAandallInvestmentsmadethroughitwillbeandmustremaininyourbeneficialownershipandmustnotbeusedassecurityforaloan.AllInvestmentswillbeloannotesissuedbyprivatelimitedcompaniesregisteredintheUK.

InordertomakeInvestmentsthroughyourRockpoolIFISA,youwillneedtoberegisteredforaccesstothePlatform.

InvestmentsarenotreadilyrealisableandwillnormallyonlybeavailableascashwhenandtotheextentthateachBorrowermakesarepaymentorinterestpayment.YoushouldnotexpecttobeabletosellorotherwiseliquidateInvestmentswhenyouwanttodoso.

YoucanaddmoneytoyourRockpoolIFISAbysubscribingcashorbytransferringcashfromanexistingISA.Allsubscriptionsmustbeinpoundssterling.YoucannottransferanyinvestmentsintoyourRockpoolIFISA,exceptassetoutinthesetermsundertheheading“RockpoolIFISAAdditionalpermittedsubscriptions”.InordertorequestthatweacceptanadditionalsubscriptiontoyourRockpoolIFISAyoumustcompleteanapplicationform.

AnycashreceivedintoyourRockpoolIFISAfromInvestments,suchasloanrepaymentsandinterest,willberetainedinyourRockpoolIFISAaccountunlesswehavereceivedinstructionsfromyouinwritingtopayoutanyamount(s)or

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toapplyanyamount(s)tomakingInvestments.

AnyinterestearnedoncashheldwithinyourRockpoolIFISAwillberetainedbyRockpool.AnyinterestearnedonInvestmentswithinyourRockpoolIFISAwillbecreditedtoyourRockpoolIFISAaccount.

Anyinstructionsprovidedtousmustbesenttothelastemailaddressprovidedbyusforthatpurpose,orbyfirstclassposttoourregisteredaddress.

20. IFISA - Qualification and compliance

TobeaqualifyingRockpoolIFISAsubscriberinrelationtoataxyear,youmustbeatleast18yearsoldand,throughoutthetaxyear,beeither:

- ordinarilyresidentintheUKfortaxpurposes;or

- performingdutiesasaCrownemployeeservingoverseasandpaidoutofthepublicrevenueoftheUK,ormarriedto,orinacivilpartnershipwith,apersonperformingsuchduties.

ByapplyingforaRockpoolIFISA,youwarrantthatyouareaqualifyingRockpoolIFISAsubscriberandyouundertaketonotifyusimmediatelyifyouceasetobeaqualifyingRockpoolIFISAsubscriber.

IfyouceasetobeaqualifyingRockpoolIFISAsubscriber,anymoneythatyouhavesubscribedintoyourRockpoolIFISAwithinthesametaxyear,andanyinvestmentsmadewiththatmoney,willbetransferredtoanon-ISARockpoolaccountinyourname.Anycashorinvestmentssubscribedinpreviousyearswillnotbeaffected.

TheminimumamountyoucansubscribetoaRockpoolIFISAinanytaxyearis£10,000.TheISARegulationsandHMRCrulesrestricttheamountthatmaybeinvestedinanISAinanytaxyear,andthenumberofISAsinwhichanindividualmayinvest.ItisyourresponsibilitytoensurethatyoucomplywiththeapplicableISARegulations.

IfyoufailtocomplywiththeISARegulationsandtheseTermsinmaking,opening,subscribingtoorotherwiseoperatingyourRockpoolIFISA,youundertaketoreimburseusforanyamountweareobligedtopayHMRCoranytaxauthorityandanyadministrativecostswemayincur.

YouundertakenottosubscribemorethanyouareallowedtosubscribetoanIFISAbyHMRCrulescurrentatthetimeofthesubscription.Ifyoudoso,youwillberesponsibleforanyconsequentialcostsorlosses.

IfforanyreasonyourRockpoolIFISAisorwillbefoundtobeinvalid,forexamplebecausethesubscriptiontotheaccountisinvalidorfailingtosatisfytheISARegulations,wewillnotifyyouandattempttotakecorrectiveactiontorepairtheaccount,andyouauthoriseustotakesuchactionstorepairtheaccountonyourbehalf.

IfyourRockpoolIFISAcannotberepaired,oriftheISARegulationsorotherlegalrestrictionspreventusfromrepairingtheaccount,orifyoufailtotakeanyactionrequestedbyusinwritingwithinareasonableperiodoftime,yourentireRockpoolIFISAmaybecomevoid.Thismeansthatanytaxbenefitswillbelostasaresult,andyouwillbeliableforanyrepaymentofanytaxduearisingfromthis.Weshallbearnoliabilityinrelationtosuchavoidaccount.

21. IFISA - Transfers in from another ISA manager

IfyouaretransferringanycurrentyearIFISAsubscriptions,youcanonlydosoifallofyourcurrentyearIFISAsubscriptionsandanyincomeearnedfromthemareavailableincashandareallbeingtransferred.

Youcantransfersomeorallofyourpreviousyears’ISAsubscriptions(includingfromIFISAsandotherISAs)totheextentthattheseareavailableincash.Wedonotaccepttransfersofinvestments.

IfwehavenotreceivedatransferhistoryformfromthetransferringISAmanagerwithin30daysofthetransfer,wemayrejectthetransferandreturnthefundstothetransferringISAmanager.

IfyouareopeningyourRockpoolIFISAandyouexerciseyour14-daycancellationright,theISAmaystillbetransferredtous.YoucanthenchoosetocloseyourRockpoolIFISAortransfertheISAbacktothetransferringISAmanageroranotherISAmanager.

22. IFISA - Additional permitted subscriptions

IfthereisaRockpoolIFISAaccountinyournameatthetimeofyourdeath,thisaccountwillbedesignatedasa“continuingaccountofadeceasedinvestor”andyourspouseorcivilpartnerwillhaveanopportunitytotransferthecashandinvestmentsheldintheaccountintoaRockpoolIFISAintheirnameasanadditionalpermittedsubscription.IfthistransferisnotmadewithinthetimelimitsetoutintheISAregulations,wewilltransferthecashandinvestmentsintoanon-ISAaccountinyourname.

IfyouarethespouseorcivilpartnerofaholderofaRockpoolIFISAdesignatedasa“continuingaccountofadeceasedinvestor”,wewill,onsatisfactorycompletionofanapplicationandsubjecttotheISAregulations,transferthecashandinvestmentsheldintheaccountintoaRockpoolIFISAinyourname.Thiswouldbeanadditionalpermittedsubscription,preservingthetaxbenefitswithoutusingupanyofyourannualISAlimit.

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23. IFISA - Investments in your Rockpool IFISA

WewillnotacceptinstructionstopurchaseforyourRockpoolIFISAanyinvestmentsheldbyyouoranyconnectedperson(s).Ifyouinstructustomakeanysuchinvestmentandfailtoinformusatthesametimethattheinvestmentisheldbyyouoranyconnectedperson,youindemnifyusagainstanyloss,damageorcostarisingasaresult.

ThetermsofsomeInvestmentsmayincludeaconversionrightdesignedtoincreasethereturntoyourRockpoolIFISA.ByapplyingtoopenaRockpoolIFISA,youinstructustoexerciseorotherwisedisposeofanysuchconversionrightatthelatesttimeatwhichsuchrightisexercisableunderthetermsoftherelevantInvestment,butonlyiftheeffectofsuchexerciseordisposalistoincreasethetotalreturntoyourRockpoolIFISAfromtheInvestment.

EachInvestmentwithinyourRockpoolIFISAwillhaveatargetrepaymentdatewhichwillbeaccessibletoyouonthePlatform.YouunderstandthatInvestmentsmayberepaidbeforethetargetrepaymentdateattheoptionoftheBorrowerandthatrepaymentmaybedelayedornotbemadeatalliftheBorrowerisunabletodoso.

AnuptodatestatementofyourtransactionsandportfoliovaluecanbeobtainedatanytimethroughthePlatformoruponrequesttous.Wewillprovidestatementsasrequiredbylaworrelevantregulations.

24. IFISA - Withdrawals and transfers to another ISA manager

YoumaywithdrawanycashheldinyourRockpoolIFISA.Wewillimplementthewithdrawalwithinanyreasonableperiodrequestedbyyou,beingatleast5workingdays,whichwillnotexceed15workingdaysunlesscircumstancesoutsideourcontrolmakethisimpracticalorunlessyouspecifyalaterdateforwithdrawal.CashthathasbeenwithdrawncannotbereturnedtoyourRockpoolIFISA.NoInvestmentcanbewithdrawnortransferredoutofyourRockpoolIFISA.

YoumaytransfertoanotherISAprovidersomeorallofanypreviousyears’RockpoolIFISAsubscriptionsand/orallofyourcurrentyear’sRockpoolIFISAsubscription,andanyincomearisingfromInvestments,totheextentthatthesubscriptionsand/orincomeareheldincashandsubjecttoonlyonetransferbeingmadeinany12-monthperiod.

WewillimplementthetransferinresponsetoarequestfromthereceivingISAproviderandwithinanyreasonableperiodrequestedbyyou,beingatleast15workingdays,whichwillnotexceed30daysunlesscircumstancesoutsideourcontrolmakethisimpracticalorunlessyouspecifyalaterdatefortransfer.WewillissueatransferhistoryformtothereceivingISAManagerwithin30calendardaysofthetransfer.

Withdrawalsandtransferswillbemadebywayofelectronicbankpaymentandmustbemadetoanaccountheldinyourname,unlessotherwiseagreedwithus.Weshallhavefulldiscretionnottoagreetoanywithdrawalortransferrequestwherethedestinationaccountisnotinyourname.

25. IFISA - Cancellation

YoumaycancelyourRockpoolIFISAapplicationbyprovidinguswithnoticebyemailortelephonewithin14dayscommencingfromthedateonwhichyousignedtheapplicationform.Thesubscriptionfundswillbereturnedtotheaccountfromwhichtheyweresenttous.WewillcloseyourRockpoolIFISAanditwillnotbereportedtoHMRC.NoInvestmentswillbemadeduringthiscancellationperiod.

YouwillnothavetherighttocancelyourRockpoolIFISAafterthe14dayperiodreferredtoabovehaselapsed.

26. IFISA - Termination

YoumaycloseyourRockpoolIFISAatanytimebywritingtous.WemaycloseyourRockpoolIFISAwithoutnoticeif:

- wearedirectedtocloseitbyHMRC,or

- youbreachtheseTermsorHMRC’sISArules,or

- youhavegivenusfalseormisleadinginformation;or

- wehavetocloseyourRockpoolIFISAtocomplywithlegalorregulatoryobligations;or

- itholdsnocashandnoInvestments;or

- welearnthatstepshavebeentakeninconnectionwithyourbankruptcy,insolvencyorsimilarprocess.

Exceptassetoutaboveorwherethereareexceptionalcircumstances,wewillgiveatleasttwomonths’writtennoticetoyouifweintendtocloseyourRockpoolIFISA.

IfyouorwecloseyourRockpoolIFISA,wewilltransferanycashtoyourbankaccountortoanon-ISARockpoolaccountinyournamependingyourinstructionsandwewilltransferanyInvestmentstoanon-ISARockpoolaccountinyourname.

UponclosureofyourRockpoolIFISA,anycashorInvestmentsheldinyourRockpoolIFISAwillnolongerbenefitfromISAstatus.

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27. SIPP

Thefollowingparagraphs,whosetitleincludestheword“SIPP”,setouttermsapplyingonlytoRockpoolSIPPs.Werefertothemasthe“SIPPParagraphs”.AllothersectionsoftheseTermsapplytoallaccountsincludingSIPPaccountsunlessotherwisestated.Intheeventofanyconflict,inrelationtoaRockpoolSIPPaccount,betweentheSIPPParagraphsandanyothersectionoftheseTerms,theSIPPParagraphsshallprevail.IntheSIPPParagraphs,we,usandourrefertoRockpoolinitscapacityastheoperatororthetrusteeortheadministratorasthecontextrequires.

28. SIPP - general

ARockpoolSIPPisanarrangementundertheRockpoolPersonalPensiontrust,whichisgovernedbytheTrustDeedandRulesasamendedfromtimetotime.IntheeventofanyconflictbetweentheTermsortheKeyFeaturesandtheTrustDeedandRules,theTrustDeedandRuleswillprevail.

29. SIPP - Your obligation to inform yourself

BeforeapplyingforaRockpoolSIPP,youmustreadandconsidercarefullytheTermsasawhole,theKeyFeaturesDocument,whichisincorporatedintotheTerms,andtheTrustDeedandRules.

30. SIPP - Your role as member and trustee

Bysigningthesupplementaldeedincludedintheapplicationform,youwillbecomeamemberoftheRockpoolPersonalPensionwithyourownmemberfund,referredtoinlawasan“arrangement”,whichwerefertoasyourRockpoolSIPP.YourRockpoolSIPPwillbeidentifiedinourrecordsunderthetitle“RockpoolSIPP[yourfullname]”and/or“RockpoolSIPP[yourfullname][Drawdown]”.

YouwillactasatrusteeforyourRockpoolSIPPalongsidetheschemetrustee.Trusteedecisionswillrequiretheagreementofbothtrustees,exceptasotherwiseprovidedintheTrustDeedandRules.

31. SIPP - Parties and powers

RockpoolInvestmentsLLPistheoperatorandtheschemetrusteeandtheadministratoroftheRockpoolPersonalPension.Theoperatorcanreplacetheschemetrusteeandtheadministratorandcanappointanotherpartytoactasoperatorinitsplace.TheschemetrusteehaswidepowersundertheTrustDeedtomakeandsellinvestmentsandtousefundsinyourRockpoolSIPPtomeettaxliabilitiesandforotherdefinedpurposes.

WemayrejectanyapplicationtoopenaRockpoolSIPPandanyinstructiontomakeanyinvestment.Wemayrejectanyrequesttodesignatefundsfordrawdownortotransferinorout,providedthatwehavereasonablereasonsfordoingsoandwenotifyyouofourreasons.Ifanybeneficiaryfailstosupplysuchevidenceofage,health,maritalstatus,rightsandentitlementsunderotherpensionschemesandotherevidenceandinformationaswemayreasonablyrequire,wemaywithholdpaymentofallorpartofanybenefitsuntiltheevidenceorinformationisreceivedandacceptedbyusascorrectandsufficient.

32. SIPP - Benefits

BenefitswillonlybeavailablefromcashheldinyourRockpoolSIPPdrawdownaccountatthedateofdrawdown.Theamountyoucandrawdownwilldependonamountstransferredinandout,onreturnsfrominvestmentsandonanycost,chargesortaxliabilitiesdeducted.TheamountofcashavailableinyourRockpoolSIPPwilltendtoreduceasyoumakeinvestmentsandincreaseassharesorloannotesaresoldorinterestanddividendsarereceived.Privatecompanyinvestmentsarenotliquid,soitwillnotgenerallybepossibletosellinvestmentsordemandrepaymentofloansinordertofunddrawdown.Ifregularityofdrawdownisimportanttoyou,youmaywishtokeepcashinyourRockpoolSIPPdrawdownaccountforthispurpose.Thereishowevernoguaranteethatfundswillbeavailabletomeetyourrequesteddrawdowns.Ifascheduleddrawdowncannotbemet,thenearestlesseramountavailableincashwillbepaidonthescheduleddate.

33. SIPP - Indemnity

YouagreetoindemnifyusfromanyfundsinyourRockpoolSIPPand/orpersonallyagainstallliabilities,fees,charges,costs,claims,expensesandlossesofanynaturewhatsoeverincurredbyusinconnectionwithyourRockpoolSIPP,otherthanliabilitiescausedasadirectresultofournegligence,knowingdefault,fraudorbreachoftheFCARulesoroftheseTerms.

rockpool.uk.com 02038548100 10BressendenPlaceLondonSW1E5DH

RockpoolInvestmentsLLPisauthorisedandregulatedbytheFinancialConductAuthority