Important Information: Terms of Business

1. These Terms of Business take effect immediately and will continue in force until they are cancelled by you or us or until they are superseded by any new Terms that may be presented to you.
    
2. The Co-operative Bank Financial Advisers Limited are authorised and regulated by the Financial Services Authority as Independent Financial Advisers.We are listed on the FSA Register and our registration number is 114718.You can check this, and our address, on the FSA's register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
    
3. Your investment objectives will be set out in a separate letter or report detailing our advice that will form part of this Terms of Business letter.
    
4. There are no restrictions relating to the advice we may give you concerning the types of investment or markets in which you may wish to invest.
    
5. We will advise you on Life Assurance, Pensions, Investments, Savings and Pure Protection contracts from a range of investment companies and insurers and carry out any instructions you give us to effect such contracts.
    
6. We will also, if required, place such business on your behalf without providing any advice. This is called "Execution-only" business and we cannot be held responsible for the suitability of such contracts for your needs.
    
7. Our registered address is shown at the foot of this page and the address from where we will provide our services to you is shown at the top of this page.
    
8. Unless agreed otherwise [see 9, below] we will derive our income from commission paid to us by the companies with which we place the business.We will tell you about the amount of commission we earn.
    
9. If we agree that commission is to be used to enhance the value of your contract and that you will instead pay us a fee, the basis of charge will be agreed with you before any chargeable work is carried out and we will inform you of any related charges, expenses and taxes.Any Schedule of Fees we may issue to you will contain details of how payment is to be made and forms part of this Terms of Business Letter. The terms of the Late Payment Act 2002 will apply to any fees due to us.
    
10. You should be aware of the possibility that other taxes or costs relating to the services that we provide for you may exist even though they are not paid through us or imposed by us.
     
11. When we have made any investment for you we are under no obligation to provide any regular or ongoing reviews or management of them unless you pay us a monthly or annual fee for our 'lifetime' service, when the terms of that service, as advised to you, will apply. We will, however, be pleased to provide advice at any time, on request. However, at our discretion and unless we hear from you to the contrary we may telephone you from time to time.
     
12. We offer independent financial advice, but occasions can arise where we will have some form of interest in business that we are transacting for you. If this happens, or we become aware that our interests conflict with your interests, we will inform you in writing and ask for your consent before we carry out your instructions.
     
13. The Co-operative Bank plc owns 100% of our share capital and The Co-operative Group Ltd controls 100% of the share capital of The Co-operative Bank plc.
     
14. We require our clients to give us instructions in writing.We will accept oral instructions at our discretion, which must be confirmed in writing.
     
15. This Terms of Business may only be cancelled and our authority to act on your behalf may only be terminated in writing, at any time, without penalty, by either party and with immediate effect without prejudice to the completion of transactions initiated prior to receipt of such notice. Other than as stated in this paragraph, there are no cancellation rights that apply to this Terms of Business.
     
16. We will normally need to ensure that we have adequately verified your identity in accordance with the rules of the Financial Services Authority; we will not usually be able to put contracts into effect until this has been done. If the required verification is not forthcoming within a reasonable period we will not arrange any investment for you.
     
17. We are not authorised to handle client money.We cannot accept any cash or cheques payable to ourselves, other than for fees, as described in points 9 and 11 above.
     
18. If you have any complaint about our advice or service, please write to:
    
    The Investigations Manager
    Co-operative Bank Financial Advisers Limited
    PO Box 211
    Regent House
    Heaton Lane
    Stockport
    Cheshire SK4 IFF
    
    Or Telephone 0161 475 6108
    Fax 0161 475 6172
    e-mail: investigations@cbfa.co.uk
    
    We are members of the Financial Ombudsman Service [FOS] and if we are unable to agree a settlement or if we fail to respond to your complaint within time scales set by the Financial Services Authority, you may complain directly to the FOS. Copies of our complaints procedures are available on request. Execution only clients will not automatically have the right to an assessment of a complaint by the FOS, but ultimately this is for the FOS to decide.
     
19. We will notify you separately of any specific risk factors that apply to the service or products we provide for you.
     
20. We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Further information about compensation arrangements is available from the Financial Services Compensation Scheme by visiting their website www.fsa.gov.uk or by contacting the FSA on 020 7066 1000.
     
21. Personal information provided may be maintained on computer records and will not be disclosed to other parties except representatives of our compliance advisers, our auditors, and any organisation requiring access to such information for regulatory purposes only, or any person having a legal entitlement to access.
     
22. All cheques, documents of title etc., may be sent by post to the client's last known address and shall be sent at the client's own risk.The Recorded Delivery service will not normally be used.
     
23. In accepting this Terms of Business, you agree that we may change the future content without receiving your prior consent to do so, but we will not conduct any business for you following any change unless we have given you at least 10 business days notice, unless it is impractical to do so.
     
24. English law will be the basis of this contract and the language in which this contract will be interpreted, and in which all communications will be conducted, will be English.

Terms of Business Version 17