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Part H : Transactions in Foreign Exchanges
| 36. |
Use of Foreign Agents |
| 36.1 |
The Client acknowledges and agrees that in Transactions involving Foreign Securities (the “Foreign Transactions”):
(a) CIMB may employ the services of agents (the “Foreign Agents”) in order to effect such Foreign Transactions; and
(b) these Foreign Transactions will be subject to terms and conditions that are imposed by the Foreign Agents.
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| 37.1 |
The Client undertakes to pay CIMB promptly any fees or other charges imposed by any other stock exchanges or clearing organization; any taxes imposed by any competent authority on any accounts opened or transaction effected for the Client; and any fines or other penalties imposed by any competent authority except to the extent that such fines or other penalties may be imposed due to CIMB’s gross negligence or willful misconduct. |
| 38 |
Foreign Rules to Prevail |
| 38.1 |
All Foreign Transactions are subject to the Foreign Rules.
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| 38.2 |
In the event of any conflict between these terms and conditions and the Foreign Rules, these terms and conditions shall be modified or superseded to the extent necessary to eliminate such conflict, but shall in all other respects continue in full force and effect. |
| 38.3 |
CIMB and the Foreign Agent are entitled, and are hereby authorised by the Client, to take any action or refrain from taking any action (including the disclosure of any information relating to the Client or the Foreign Transactions) which CIMB or the Foreign Agent (as the case may be) considers appropriate for the purpose of complying with the Foreign Rules. Neither CIMB nor the Foreign Agent nor any of their respective officers, directors or employers shall be liable as a result of taking or refraining from taking any action in good faith in the circumstances contemplated by this Clause.
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