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Berndale Product Disclosure Statement - Clearing Agreement

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					                        Clearing Agreement disclosure statement: for New Clients

                                          DISCLOSURE STATEMENT
                                      to clients of BBY Limited (Broker)


         TERMS OF YOUR AGREEMENT WITH BERNDALE SECURITIES LIMITED ABN 63 006 687 467
                               AFSL No. 235149 (BERNDALE)

                                                         either through the Application Form or otherwise) to
 1.       Your agreement with Berndale                   give settlement instructions to Berndale and to give to
                                                         Berndale and receive from Berndale information relating
 Berndale is admitted as a Clearing Participant in       to your account, then each director (or equivalent
 accordance with the Operating Rules of ASX Clear        officer) of you from time to time is severally authorised
 Pty Limited ABN 48 001 314 503 (ASX Clear), a           (in addition to the Broker) to give settlement instructions
 wholly owned subsidiary of ASX Limited ABN 98           to Berndale and to give to Berndale and receive from
 008 624 691 (ASX).                                      Berndale information relating to your account.
 Whenever you effect a Market Transaction through        3.       Conduct of Business
 the Broker, Berndale carries the obligations
 (Settlement Obligations) to complete the sale or        You acknowledge and agree:
 purchase, together with all obligations which are
 ancillary to the completion. Berndale must settle       (a)   to comply with these terms and conditions and all
 such Market Transactions as principal with ASX                applicable legislation and the ASIC Market
 Clear or the relevant counterparty, even though the           Integrity Rules, ASX Operating Rules, ASX Clear
 Market Transaction was entered into on your behalf.           Operating Rules and ASX Settlement Operating
 Accordingly, your settlement obligations under the            Rules and the directions, decisions and
 sale or purchase contract are owed directly to                requirements of ASX and the customs and usages
 Berndale.                                                     of the Market. Copies of the ASIC Market
                                                               Integrity Rules, ASX Operating Rules, ASX Clear
 If you fail to pay the amounts due in respect of a            Operating Rules and ASX Settlement Operating
 Market Transaction or you fail to complete a contract         Rules can be inspected at the Broker's offices on
 in accordance with the ASX Clear Operating Rules,             request; and
 Berndale has direct rights against you, including
 rights of sale under the ASX Clear Operating Rules      (b)   all Market Transactions are subject to the terms
 and those set out below.                                      and conditions on the reverse of the confirmation
                                                               issued by Berndale on behalf of the Broker
 Once the Broker as your agent has received an                 (Confirmation) (if any) and set out below, and to
 Order to purchase or sell Traded Products by means            the ASIC Market Integrity Rules, ASX Operating
 of a Market Transaction, an agreement is                      Rules, ASX Clear Operating Rules, the directions,
 immediately deemed to come into existence                     decisions and requirements of ASX and the
 between you and Berndale on the terms and                     customs and usages of the Market, the correction
 conditions set out below. By placing an Order with            of errors and omissions and, where relevant, the
 the Broker you accept the following terms and                 ASX Settlement Operating Rules.
 conditions.
                                                         4.       Settlement Date and Time
 2.       Your instructions
                                                         The "Settlement Date and Time" for sales or purchases
 You acknowledge and agree that the Broker is            is the date and time specified on the front of the
 irrevocably authorised to act on your behalf to give    relevant Confirmation, or, if no date and time are
 instructions to Berndale and to give to Berndale and    specified or no Confirmation is required to be given, is
 receive from Berndale information relating to your      9.00am (Sydney time) on the third Business Day after
 account.                                                the execution of the Market Transaction.

 You also acknowledge and agree that, if you are a       The Broker has no authority to extend the Settlement
 body corporate and, at any time, have not               Date and Time.
 authorised a person (other than the Broker) in
 writing (notice of which has been given to Berndale,




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You represent and warrant that before placing any         All documentation and Security Holder Information must
Order with the Broker, you will be in a position to       be sent to:
pay for any Traded Products purchased and have a
presently exercisable and unconditional right to vest            Berndale Securities Limited
any Traded Products sold in the buyer, to enable                 PO Box 18022
settlement at the Settlement Date and Time.                      Collins Street East
                                                                 Melbourne VIC 3000
5.       Purchases
                                                          If you have entered into a Sponsorship Agreement with
Payment in full must be received by Berndale (rather      Berndale, you will be taken to have satisfied this
than the Broker) before the Settlement Date and           obligation if you ensure that sufficient Traded Products
Time. Payment in cash is not acceptable.                  are held in your Sponsored Holding with Berndale,
                                                          those Traded Products are unencumbered and, if the
Pending settlement by you, in accordance with the         consent of any third party is required before Berndale
provisions of the Corporations Act 2001 (Cth)             may withdraw those Traded Products, that consent has
(Corporations Act), and the regulations made              been obtained and communicated to Berndale. You
under the Corporations Act, these terms and               irrevocably authorise Berndale to apply any Traded
conditions and the relevant Confirmation (if any)         Products held in your Participant Sponsored Holding to
constitutes notice to you that Berndale may deposit       satisfy your Settlement Obligations arising from any
the Traded Products purchased for you in a                Market Transaction executed by the Broker on your
particular transaction as security for a loan if          behalf.
Berndale has received and paid for such Traded
Products on your behalf.                                  Credits in respect of sales are not available until the
                                                          latest of:
From time to time Berndale will hold money on your
behalf and/or may be authorised by you to debit           (a)         the Settlement Date and Time;
money from your account with a bank or other
financial institution (Your Account).                     (b)         when all documents and Security Holder
                                                                      Information have been received by Berndale in
You authorise Berndale to apply any money held by                     deliverable form; and
Berndale for you (or, if you have authorised
Berndale to debit Your Account, to debit Your             (c)        all amounts due and payable by you to
Account and apply such money) to satisfy your                        Berndale or the Broker have been paid.
Settlement Obligations or to pay any amount which
you owe to Berndale (or any of its related bodies         Sale proceeds will be paid directly to you unless
corporate) from time to time.                             Berndale has agreed alternative arrangements with
                                                          you.
6.       Settlement using BPAY facility
                                                          8.          Confirmations
Please call your participating financial institution to
make payment from your cheque or savings account          You will be given Confirmations as required by the
by BPAY. Please quote the Biller Code and your            Corporations Act and the ASIC Market Integrity Rules.
BPAY reference number (see the front page of the
                                                          You authorise Berndale on behalf of the Broker to give
relevant Confirmation (if any)). If you nominate
                                                          Confirmations to you electronically to the email address
another method for payment, Berndale will act in
                                                          notified to Berndale by the Broker on your behalf from
accordance with those payment instructions.
                                                          time to time for this purpose.
7.       Sales
                                                          You must promptly check the accuracy of every
All documents and security holder information             Confirmation sent to you and notify the Broker
(including the holder identification number or            immediately of any error that you consider may have
personal identification number and, if applicable,        occurred. If the Broker does not receive any such
holder reference number) (Security Holder                 notification from you within 24 hours, you will be taken
Information) must be received by Berndale (rather         to have accepted the accuracy of the Confirmation.
than the Broker) in deliverable form two business
                                                          A Confirmation may at any time be re-issued to you in
days before the Settlement Date and Time.
                                                          order to correct any errors or omissions and the terms




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and conditions of the original Confirmation will apply   (e)     sell out (or procure the sell out of) any Traded
in relation to the reissued Confirmation.                        Products otherwise held on your behalf (and you
                                                                 are fully responsible for any loss in connection
Where the Broker enters into multiple Market                     with such sale) and apply the proceeds in
Transactions in order to complete your Order, you                reduction of your liability to Berndale and to
authorise Berndale on behalf of the Broker to                    recover Berndale's costs in so acting;
accumulate those Market Transactions on a single
confirmation and to specify the volume weighted          (f)     apply any cash held by Berndale or the Broker on
average price for those Market Transactions on that              your account or to which they have access, or
confirmation. If requested by you, the Broker will, if           payments received for or from you in reduction of
required under the ASIC Market Integrity Rules, give             your liability to Berndale; or
you a statement of all the individual prices of the
relevant transactions which are accumulated and          (g)     instruct the Broker to cancel any of your
averaged in a confirmation.                                      unexecuted Orders,

If you are a Wholesale Client for the purposes of the    and you authorise Berndale and each of its directors
ASIC Market Integrity Rules, the Broker may elect        and employees as your attorney to give instructions on
not to give any Confirmations to you in relation to      your behalf in respect of your Traded Product holdings
Market Transactions executed for you. If the Broker      sponsored by Berndale or the Broker (or a related body
so elects, this Disclosure Statement is taken to be      corporate of either of them) in CHESS, or held by a
the notification required to be given by the Broker to   related body corporate of either of them in nominee
you under the ASIC Market Integrity Rules.               holdings, and in respect of call deposit facilities or cash
                                                         management trust accounts on which either Berndale or
9.       Failure to Settle                               the Broker is authorised to give instructions, to enable
                                                         Berndale to realise those Traded Products or funds and
If you fail to make payment or deliver any               apply the proceeds in reduction of your liability to
documents or Security Holder Information to              Berndale and to recover Berndale's costs in so acting.
Berndale in accordance with these terms and
conditions or the relevant Confirmation, if any (fail    If you fail to settle, Berndale may make arrangements
to settle), Berndale may, in addition to any rights      on your behalf to ensure that your Settlement
conferred by the ASIC Market Integrity Rules, ASX        Obligations are performed.
Operating Rules and the ASX Clear Operating
Rules, do any one or more of the following:              If you have not met your settlement obligations owed to
                                                         Berndale in respect of a Market Transaction executed
(a)   charge an administration fee calculated by         for you by the Broker by the date which is 5 Business
      reference to the additional cost which may be      Days after the date on which that transaction was
      incurred by Berndale or the Broker as a result     executed, it is Berndale's policy (and Berndale may be
      of your failure to settle;                         obliged under the ASX Settlement Operating Rules),
                                                         without any notice to you:
(b)   levy a default charge on the amount from time
      to time outstanding at a rate of up to 15.0%       (a) in the case of a purchase, to execute a Market
      per annum;                                             Transaction to close out the failed purchase (by
                                                             selling the relevant Traded Products); or
(c)   sell out (or procure the sell out of) any Traded
      Products purchased (and you are fully              (b) in the case of a sale, to execute a Market
      responsible for any loss in connection with            Transaction to close out the failed sale (by buying-
      such sale) and apply the proceeds in reduction         in the relevant Traded Products),
      of your liability to Berndale and to recover
      Berndale's costs in so acting;                     and recover any resulting loss from you.

(d)   buy in (or procure the buy in of) or borrow (or    You must pay or reimburse Berndale any such
      procure the borrowing of) any Traded Products      administration fees and default charges (together with
      sold (and you are fully responsible for any loss   any GST payable on those amounts) immediately upon
      in connection with such purchase or                demand or at Berndale's option it may deduct such
      borrowing) and recover Berndale's costs in so      administration fees and default charges (and any GST)
      acting;                                            from any sale proceeds or other amounts otherwise
                                                         payable to you.




200525935_19 Disclosure Statement Version 4.1-BBY.doc          Jan 2011                                      3
Berndale will not be liable to you for any failure by     Berndale or the Broker suffers any claim, liability, direct
Berndale to exercise (or any delay in the exercise by     or consequential loss or incur any cost, charge or
Berndale of) any right Berndale may have against          expense of any nature, you must on demand fully
you, or any loss incurred by you as a result of           indemnify Berndale and the Broker and keep Berndale
Berndale not exercising any of its rights against you     and the Broker fully indemnified in respect of such
immediately, or at all, following any failure by you to   claim, liability, loss, cost, charge or expense.
comply with your obligations.
                                                          13.      Assignment of Amounts Owing
The manner in which Berndale may exercise or not
exercise, or the timing of or any delay in any            You acknowledge that, if you have not paid any debt to
exercise by Berndale of, any right of Berndale under      Berndale, Berndale may (by notice to you and the
this clause is not to be taken to be financial product    Broker) assign that debt to the Broker and the assigned
advice by Berndale to you, and you must not               debt will become an obligation of yours to the Broker,
represent to any person that it is financial product      and the Broker (and each of its directors and
advice by Berndale.                                       employees) will have the rights and powers (and may
                                                          do all the things) set out in clause 9 as if a reference to
10.      Cancellations                                    Berndale were a reference to the Broker.

You authorise Berndale to, and agree that Berndale        14.      Information
may, without your consent, cancel or amend (or
request or agree to the cancellation or amendment         You warrant that all information provided by you to the
of) any Market Transactions or Crossing relating to       Broker or Berndale is, or will be when given, accurate,
the sale or purchase (as the case may be) of Traded       true and correct and further agree to immediately notify
Products:                                                 Berndale in writing upon becoming aware that such
                                                          information is no longer accurate, true and correct. You
(a)   if requested to do so by the Broker in              agree that Berndale and the Broker may share such
      accordance with the ASIC Market Integrity           information, as well as your account details and
      Rules or the ASX Operating Rules;                   information regarding your transactions in Traded
                                                          Products with each other and with Berndale's related
(b)   if ASIC and/or ASX exercise their powers            bodies corporate on a confidential basis as Berndale
      under the ASIC Market Integrity Rules or ASX        considers appropriate.
      Operating Rules, respectively, to cancel or
      amend (or require the cancellation or               You also consent to Berndale and/or the Broker
      amendment of) the Market Transaction or             disclosing this information and your account details to
      Crossing; or                                        any regulatory authority, and consent to Berndale
                                                          and/or the Broker using such information and your
(c)   in the event of an Error or otherwise in the        account details for the purposes of monitoring
      circumstances contemplated in the ASIC              compliance by you, the Broker and/or Berndale with
      Market Integrity Rules or ASX Operating Rules.      their respective regulatory and contractual obligations,
                                                          and resolving disputes.
Your obligations referred to in clauses 5 and 7 of
this Disclosure Statement, and Berndale's                 15.      Misdirected Market Transactions
obligations in relation to the settlement of a Market
Transaction, cease to apply in respect of a cancelled     You acknowledge that, if at any time Market
transaction from the time it is cancelled.                Transactions executed by the Broker are also to be
                                                          cleared through a Clearing Participant (other than
11.      Interest on Berndale's trust account             Berndale):

You acknowledge that Berndale will retain the             (a) the Broker may, incorrectly or otherwise, direct a
interest (if any) earned on monies held in its trust          Market Transaction which it has executed on your
account from time to time.                                    behalf to a Clearing Participant other than
                                                              Berndale (Misdirected Market Transaction);
12.      Indemnity
                                                          (b) Berndale will not carry the Settlement Obligations
In addition to the above, if, as a result of failure by       in respect of any Misdirected Market Transaction;
you to settle or other breach by you of these terms           and
and conditions or other agreement with Berndale,




200525935_19 Disclosure Statement Version 4.1-BBY.doc        Jan 2011                                        4
(c)   Berndale will not give you a confirmation in         18.         Instructions by e-mail
      respect any Misdirected Market Transaction.
                                                           The following terms will apply if you provide email
16.       Berndale's right to refuse to accept             instructions to Berndale. By doing so you:
          Orders
                                                           (a) acknowledge that:
You acknowledge that Berndale may at any time in
                                                                   you wish to have the flexibility to communicate
its absolute discretion direct the Broker to:
                                                                    (including to provide instructions in respect of
(a) refuse to accept you as a client or not to accept               transactions in respect of financial products) by
    Orders from, or execute Orders for you; or                      e-mail with the Broker and Berndale;

(b) refuse to accept a particular Order from you.                  you are and will at all relevant times be
                                                                    authorised to make such communications
17.       Instructions by fax                                       (including as the case may be, to give such
                                                                    instructions); and
The following terms will apply if you provide fax
instructions to Berndale. By doing so you:                         communication by e-mail is not a secure means
                                                                    of communication and involves higher risks of
(a) acknowledge that:
                                                                    distortion, manipulation and attempted fraud;
       you wish to have the flexibility to                (b) authorise the Broker and Berndale to accept and
        communicate (including to provide                      act without any inquiry upon communications
        instructions in respect of transactions in             (including instructions) provided by e-mail which
        respect of financial products) by fax with the         appear to the Broker or Berndale (as the case may
        Broker and Berndale;                                   be) to have been provided by or for you; and

       you are and will at all relevant times be          (c)    indemnify each of the Broker and Berndale in
        authorised to make such communications                    respect of any and all claims, liabilities, direct or
        (including as the case may be, to give such               consequential losses, costs, charges or expenses
        instructions);                                            (of any nature) incurred or suffered by the Broker
                                                                  and/or Berndale (jointly or severally) as a result of
       communication by fax is not a secure means                the Broker and/or Berndale acting on any
        of communication and involves higher risks                communications (including instructions).
        of distortion, manipulation and attempted
        fraud; and                                         19.         No Advice

       fax communications may be of poor quality          You acknowledge that Berndale does not provide
        or unclear; and                                    financial product advice, and Berndale does not accept
                                                           responsibility for any financial product advice given to
(b) authorise the Broker and Berndale to accept
                                                           you by the Broker, and you must not represent to any
    and act without any inquiry upon,
                                                           person that Berndale has given any financial product
    communications (including instructions)
                                                           advice to you. If you are placing any Order on the basis
    provided by fax which appear to the Broker or
                                                           of advice given to you by the Broker, you must provide
    Berndale (as the case may be) to have been
                                                           the Broker with:
    provided by or for you; and

(c)   indemnify each of the Broker and Berndale in         (a) all information (and documentation) regarding your
      respect of any and all claims, liabilities, direct       financial situation, investment objectives and
      or consequential losses, costs, charges or               particular needs sufficient and necessary for the
      expenses (of any nature) incurred or suffered            Broker to give informed financial product advice;
      by the Broker and/or Berndale (jointly or
                                                           (b) any relevant new information (and documentation)
      severally) as a result of the Broker and/or
                                                               as soon as it becomes available; and
      Berndale acting on communications (including
      instructions) provided by fax.                       (c)    details of or any change in your financial situation,
                                                                  investment objectives and particular needs as
                                                                  soon as such change occurs.




200525935_19 Disclosure Statement Version 4.1-BBY.doc            Jan 2011                                      5
20.      Credit references                                     Financial Ombudsman Service Limited
                                                               GPO Box 3
You agree that Berndale may make such enquiries                Melbourne VIC 3001
as it thinks fit of any person, including your                 Telephone 1300 780 808
employer, your bank or a credit agency relating to             Facsimile (03) 9613 6399
your creditworthiness.
                                                         If you are not satisfied with the response to your
21.      Complaints                                      complaint, you may wish to pursue the matter with ASX.
                                                         The Australian Securities and Investments Commission
You have a right to complain about any aspect of         also has a freecall Infoline on 1300 300 630 which you
your dealings with Berndale, and to have that            may use to make a complaint and obtain information
complaint dealt with in accordance with Berndale's       about your rights.
complaint resolution procedures. A summary of
those procedures is set out below.                       22.      National Guarantee Fund (NGF)

However, if your complaint relates to services           As Berndale is a Participant of the ASX Group, you may
provided by the Broker, your complaint should be         make a claim on the NGF in the circumstances
dealt with in accordance with the Broker's complaint     specified under Part 7.5 of the Corporations Act and the
resolution procedures. If you have such a complaint      Corporations Regulations 2001 (Cth). Except in limited
please contact the Broker.                               circumstances, NGF protection does not apply to
                                                         dealings in ASX exchange-traded options. NGF
You have the right to have any complaint about the       protection does not apply to dealings in ASX futures
service you have received from Berndale, or any          contracts. (For more information on the circumstances
other aspects of your dealings with Berndale,            in which you may make a claim on the NGF or for
investigated and dealt with as quickly as possible in    information on the NGF generally, contact the
accordance with Berndale's complaints resolution         Securities Exchanges Guarantee Corporation Limited
procedure.                                               ABN 19 008 626 793.)

To assist Berndale to respond appropriately to           23.      Compensation arrangements
complaints, you are asked to set out complaints in
writing, addressed to the Compliance Manager. You        Berndale has professional indemnity insurance which
should include as much detail about the                  Berndale considers is adequate having regard to:
circumstances of your complaint as possible,
including the name(s) of any Berndale staff involved.    (a) the volume and types of business carried on by it;
If available, copies of any background                       the number and types of its clients; the number of
documentation should also be provided.                       its representatives; and

Following receipt of your complaint, the Compliance      (b) any particular or potential claims that may arise
Manager will acknowledge receipt of it in writing and        pursuant to Berndale's participation in external
provide an estimate of the time it will take to              dispute resolution schemes, including the FOS
investigate the circumstances. The Compliance                scheme.
Manager will fully investigate your complaint and
follow up if further information is required from you.   Berndale considers that these compensation
The Compliance Manager will then prepare a               arrangements satisfy the requirements of s 912B of the
detailed written response to you after consideration     Corporations Act and associated regulations.
of all relevant documents and following interviews
with the involved employees and their manager(s), if     24.      Sponsorship
required. The written response will be mailed or
                                                         If you are not currently sponsored by Berndale,
delivered to you.
                                                         Berndale recommends that you enter into a
                                                         Sponsorship Agreement with Berndale to enable easy
As Berndale is a member of the Financial
                                                         transfer of your Traded Products under CHESS
Ombudsman Service (FOS), Berndale will advise you
                                                         (Clearing House Electronic Subregister System).
if you continue to have a complaint that you have the
option to pursue your complaint with FOS. FOS's
contact details are:




200525935_19 Disclosure Statement Version 4.1-BBY.doc       Jan 2011                                     6
25.      Tax File Number                                   Berndale and its Australian related entities (Berndale
                                                           Securities Group) will handle your personal
The terms in this section apply only if you have           information, including sensitive information (as defined
provided a Tax File Number (TFN) to Berndale.              in the Privacy Act 1988 (Cth)), to enable Berndale to
                                                           provide you with financial services and products offered
Berndale is an Australian financial service licensee       by the Berndale Securities Group and to provide you
which is authorised by law to request your TFN.            with information about these services and products
You are not required to provide your TFN and failing       (Services).
to provide your TFN to Berndale is not an offence.
However failing to provide your TFN or not                 You understand that if you fail to provide any personal
permitting Berndale to quote it in relation to an          information requested of you, Berndale may not be able
investment may have taxation consequences. You             to provide you with the Services that you require.
may wish to seek independent advice in this regard.
                                                           In providing you with the Services Berndale may, from
By providing a TFN and signing the application form        time to time, disclose your personal information to State
you:                                                       or Commonwealth regulatory authorities (including ASX
                                                           Settlement Pty Limited), Berndale's employees,
(a) appoint Berndale as your agent and request             advisers, agents, contractors and Berndale's third party
    and authorise Berndale to:                             service providers, such as mailing houses or financial
                                                           planners. Berndale may also share your personal
       provide your TFN to all investment bodies
                                                           information with other entities in the wider Berndale
        with whom Berndale acts on your behalf;
                                                           Securities group and their third party service providers.
       apply your TFN to any investment or account        Some of the foregoing may be located overseas.
        which you may in future make or open with
                                                           You can request access to any personal information
        or through Berndale or any company related
                                                           that any members of the Berndale Securities Group
        to Berndale to which your TFN may lawfully
                                                           hold about you. On occasion, Berndale may not provide
        be applied; and
                                                           access. In this case Berndale will explain why.
(b) acknowledge that this authority will apply until
                                                           If you want to know more about Berndale's approach to
    such time as it is revoked in writing to
                                                           privacy, want to access your personal information or do
    Berndale.
                                                           not want Berndale to use your personal information in
Despite the other terms in this section, you may           any of the ways set out above, you can contact
instruct Berndale in writing at the time of making an      Berndale on (03) 9659 2441.
investment, not to quote your TFN in relation to that
                                                           Corporate
investment.
                                                           (Statement for corporate client forms which require
26.      Amendment
                                                           disclosure of Personal Information of a corporate
These terms and conditions may be amended by               representative)
Berndale from time to time. Berndale will give you
                                                           Berndale may from time to time collect personal
10 days notice of any amendment, after which time,
                                                           information about your employees, agents or
the amendment will become effective.
                                                           contractors for the purpose of conducting business with
27.      Governing law                                     you.

These terms and conditions are governed by the law         Berndale may disclose that personal information to
in force in Victoria and you and Berndale submit to        State or Commonwealth regulatory authorities
the non-exclusive jurisdiction of the courts of Victoria   (including ASX Settlement Pty Limited), Berndale's
and courts which may hear appeals from those               employees, advisers, agents, contractors and
courts.                                                    Berndale's third party service providers such as mailing
                                                           houses. Berndale may also share that personal
28.      Privacy Statements                                information with other entities in the wider Berndale
                                                           Securities group and their third party service providers.
Individual                                                 Some of the foregoing may be located overseas.

(Statement for direct collection from individuals)




200525935_19 Disclosure Statement Version 4.1-BBY.doc         Jan 2011                                      7
You must advise your employees, agents and              legislative provision substituted for, and any
contractors of the fact that Berndale collects the      subordinate legislation issued under, that legislation or
personal information and the use Berndale makes of      legislative provision.
it. You must also let them know how they can
contact Berndale to request access to any personal      Words used in this document have the meanings given
information that Berndale holds about them or if they   to them in the ASIC Market Integrity Rules, ASX
do not want Berndale to use their personal              Operating Rules, ASX Clear Operating Rules or the
information in any of the ways set out above.           ASX Settlement Operating Rules. If you require a copy
                                                        of these definitions please contact the Broker.
29.      Interpretation
                                                        If you are a joint holder, these terms and conditions
ASIC Market Integrity Rules means the ASIC              bind each person jointly and severally, and each person
Market Integrity Rules (ASX Market) 2010 made by        is authorised to issue instructions to the Broker and give
ASIC under section 798G(1) of the Corporations Act      receipts to Berndale in relation to any purchase or sale
as amended from time to time.                           of Traded Products or other matters to which these
                                                        terms and conditions relate.
ASX Clear Operating Rules means the operating
rules of ASX Clear as amended from time to time.        You agree that in the event of any inconsistency
                                                        between this document and any applicable laws, the
ASX Operating Rules means the operating rules of        ASIC Market Integrity Rules, ASX Operating Rules,
ASX as amended from time to time.                       ASX Clear Operating Rules or ASX Settlement
                                                        Operating Rules, the latter will prevail to the extent of
ASX Settlement Operating Rules means the                the inconsistency.
operating rules of ASX Settlement Pty Limited ABN
49 008 504 532 as amended from time to time.            You acknowledge that this document is not exhaustive
                                                        and agree to be bound by other policies and procedures
Market Transaction has the meaning given to Cash        which concern the operations of your account with the
Market Transaction in the ASIC Market Integrity         Broker as notified to you from time to time.
Rules.
                                                             Berndale Securities Limited
Order means an order or instruction for the sale or          ABN 63 006 687 467
purchase of Traded Products for the purposes of the          AFS Licence no. 235149
ASIC Market Integrity Rules to be executed by the            Level 19, 120 Collins Street
Broker.                                                      MELBOURNE VIC 3000
                                                             Telephone: 03 9659 2555
Participant Sponsored Holding has the meaning
given to it in the ASX Settlement Operating Rules.           A participant of ASX Group

Traded Products has the meaning given to Cash
Market Products in the ASIC Market Integrity Rules.

you means the person or persons in whose name
the account is opened with the Broker or named on
the account opening or application form as the
client. If that is more than one person, "you" means
each of them separately and every two or more of
them jointly. "You" includes your successors and
assigns.

Words expressed in the singular include the plural
and vice versa.

Unless the context otherwise requires, a reference
to a document or agreement includes any variation
or replacement of it and a reference to any
legislation or legislative provision includes any
statutory modification or re-enactment of, or




200525935_19 Disclosure Statement Version 4.1-BBY.doc      Jan 2011                                        8

				
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