The terms and conditions of Clerical Medical's Mutual Funds E-Services website are listed below for your reference:

These terms and conditions (the Agreement) apply to your access to and use of this website and all the services provided on this website (the Services).

By clicking on "Accept" where indicated at the bottom of this Agreement, you unconditionally agree to be bound by this Agreement, any other terms and conditions relevant to the operation of this website and the Services and products (including, without limitation, the Important Information and the Product Terms and Conditions (if applicable)).

We recommend that you print a copy of this Agreement and consider it carefully before agreeing to be bound by it.

References to 'you' and 'your' are references to the person accessing the website. References to 'we', 'us' and 'our' are references to HBOS Investment Fund Managers Limited, our associated companies and nominated service providers.

1. Eligibility to use services

By registering for these Services, you acknowledge that you are over the age of 18.

The information on this website is general information only and is provided free of charge. It is not, and is not intended as, advice on any specific issue or situation. None of this information constitutes, or may be relied on as financial or other professional advice. Should you wish to seek advice, please contact a professional adviser.

Any professional adviser registering for these Services must have entered into Terms of Business with HBOS Investment Fund Managers Limited. The provisions of the Terms of Business will also apply with regard to use of the Services by a professional adviser acting on behalf of a client.

Should a professional adviser have not previously received and agreed to be bound by the Terms of Business these are available by contacting us on Telephone Number 0845 300 0471.

2. Registering to use the services

Investors

After completing the online registration, you will be notified whether your application has either been "accepted", "rejected" or is "pending" due to system unavailability. Any applications received by us before 9am or after 5pm on a Business Day, or at any time on weekends and bank holidays may be given a "pending" status. Once your application has been accepted, you will be sent by post a single use password which will provide you with initial access, via the Internet, to the Services.

Professional Advisers

The Services are only available to professional advisers who have accepted HBOS Investment Fund Managers Limited's Terms of Business with. In order to register for the service you will need to telephone our Customer Services team on 0845 602 8823. They will go through the registration process with you. Once your application has been accepted, you will be sent by post a single use password which will provide you with initial access, via the Internet, to the Services.

3. Passwords and security codes

Your single use password will be valid for 25 days from the date of issue. If you fail to access the Services within this period, your single use password will be cancelled and you must contact the Customer Services team on 0845 602 8823 to request a new single use password.

When you access the Services for the first time, you will be required to create your own password and personal security code (Security Code). You must not use an unsuitable password or Security Code, for example easily accessible personal data, birth dates, family, pet or street names. You must safeguard your password and Security Code. Under no circumstances should you keep a written or electronic record of your password or Security Code, nor disclose them to any other person, including our staff. Your password and Security Code must remain confidential to you alone and you must take all reasonable steps to prevent disclosure of your password and Security Code.

You must report disclosure or possible disclosure of your password or Security Code to us as soon as you become aware, or suspect, that your password or Security Code has been disclosed and provide us with all information and assistance as we reasonably require.

If you are a professional adviser you will automatically be given access to your clients' account details but you will need to know their personal reference numbers to access these. Please call us on 0845 300 0471 to arrange to be sent a list of these.

4. Provision of the services

Your right to use the Services is personal to you and you must not permit any other person to access or use the Services using your user identification, account number, password or Security Code.

You are responsible for providing and maintaining any equipment that you use to access the Services. Technological changes from time to time may make the equipment that you currently use to access the Services obsolete or otherwise unsuitable. You are solely responsible for any telecommunications costs that you incur whilst using the Services. We reserve the right to change the Services at any time without notice to you, even if this means that you need to update or replace the equipment that you use to access the Services.

5. Using the services

We will keep you informed of any new services as they become available. We reserve the right to add to, alter, upgrade or discontinue any or all of the Services or information contained on this website without notice.

6. Communications via the service

Any electronic communication we send to you will be deemed received by you when that communication leaves our server. Any electronic communication you send to us will be deemed received by us when that communication is received on our server.

You are responsible for keeping appropriate records of all communications sent and received using the Services.

Your communications will not be treated as properly received unless and until we receive the communication in an uncorrupted, readily accessible and readable format.

Where you discover that a communication from you is, or has been, corrupted or contains incorrect information or instructions, you agree to re-transmit your communication to us as soon as reasonably practicable clearly identifying that it is a corrected communication.

You accept responsibility and liability for the completeness and accuracy of any communication sent to us using the Services and you acknowledge and accept that we will not be liable for any loss, damage or expense that you may suffer as a consequence of any incomplete, incorrect or corrupted communication.

You authorise us to treat any electronic communication from you as a valid communication without the need for further written confirmation. However, for your protection, we reserve the right to obtain written confirmation from you of any application or other communication sent via the Services.

We have taken all reasonable steps to ensure that the security applicable to the Services affords a high degree of protection. Accordingly, we will treat all communications received from you as your communications even if you can later prove that they were not signed or sent by you or with your authority, provided that we were not guilty of negligence, fraud or wilful default in treating them as valid communications.

You warrant that you are entitled to send and receive electronic communications or emails from us via any computer network operated by a third party (including, without limitation, your internet service provider or employer) that you may use to access the Services or communicate with us. You accept that if we receive a request from such a third party to stop sending electronic communications or emails via their networks we may stop sending such communications without notifying you, even if you have subscribed to receive them.

7. Limitations of liability

To the fullest extent permitted by law, we disclaim all warranties, descriptions, representations or conditions in respect of the Services in this website whether express or implied, including (without limitation) warranties as to merchantability and fitness for any purpose and that the Services will be accessible at all times, or at all.

The Services may be temporarily unavailable or restricted for administrative or any other reason and we do not accept any responsibility and will not be liable for any loss or damage arising out of, or in connection with, loss of access to, or use of, this website or the Services. In the event that the Services are unavailable, you should notify our Customer Services team (available weekdays between the hours of 8.30am and 5.30pm GMT) on 0845 602 8823. You acknowledge and accept that we, and anyone that we are responsible for, have no liability to you at law, by statute, in equity or otherwise arising from our relationship for any loss, damage, expense or injury, whether direct or indirect, special or consequential, incurred or suffered by you arising from, or in connection with:

• any error, corruption, inaccuracy or incompleteness in any information or communication received from you;
• your use of, or access to, this website and the Services, except as a result of our negligence or wilful default;
• any failure to carry out any instruction contained in any communication received using the Services unless you can show that you have received a reference number and a confirmation of our acceptance of your application.

You acknowledge and accept that neither we nor anyone that we are responsible for shall have any liability for any loss, damage or expense that you may suffer as a result of our delay in carrying out, or failure to carry out, any instruction contained in any communication sent by you where such delay or failure is a result of circumstances beyond our reasonable control.

Whilst we take all reasonable care to ensure all electronic communications, emails and any attachments we may send to you are free from any known virus or bug we do not give any such warranty and, unless proved to be due to negligence on our part, shall not be liable to you for any loss, damage or expense you may incur as a result of such virus or bug.

In no event will we be liable to you for any circumstances beyond our reasonable control including, without limitation, a corruption or error arising during data transmission, any hardware or software error, unavailability, non-functioning or interruption of the Internet or other telecommunication services, viruses or security breaches.

8. Security and personal data

You agree that we may:

• process any personal data submitted by you through this website and/or created in the course of our relationship with you;
• track your use of the website to monitor and improve the Services we provide to you and other customers; and
• transmit your personal data to any companies which carry out administrative services on our behalf for purposes connected with customer administration.
• use session cookies, persistent cookies, information collected on our log files or Web beacons and other similar techniques to monitor your activity on our website to better understand how our website is used, measure the effectiveness of our advertising, resolve technical problems and enhance your experience.

We can only provide the Services if we are able to process your personal data in this manner.

Some of the information supplied in connection with this website may be passed to your professional adviser, or other agents acting on your behalf. Relevant information may also be passed to our agents, or service providers. You are entitled to access information or data that we hold about you and where necessary, have it corrected for which there may be a charge. We may also use your information to notify you by letter, telephone, email or otherwise of marketing initiatives and new products or services that may interest you, or for the purposes of conducting market research, preparing strategic plans or gauging product sales and/or performance. In addition, some of the information may be passed to other members of the Clerical Medical group of companies so they may advise you of complementary products and services. Please contact us if you do not wish to receive information about other products and services. The information provided on this website will be processed in accordance with the UK Data Protection Act 1998.

Whilst we have taken every precaution to ensure that data held by us is secure from unauthorised access, we do not have control over the Internet or the computer environment that you use to access this website or the Services. You acknowledge that unencrypted email transmitted via the Internet is an inherently insecure communication medium and that we cannot guarantee any information sent by you will be received in the same form. Should you provide personal information to us by unencrypted email you accept the risk that such an email may be intercepted by third parties and we shall not be considered in breach of confidence or any other duty or legal requirement or for any loss, damage or expense which you may incur should such interception occur.

You acknowledge that where you access the Services by using a computer or computer network operated or maintained by a third party (such as, without limitation, your employer) that such third party may legitimately, or otherwise, intercept and monitor your use of the Services or any email sent or received by you on that network. Where this occurs we will not be considered in breach of confidence or in breach of any other duty or other legal requirement and shall not be liable for any loss or expense which you may incur. You should refer to such third parties' policies relating to internet usage to understand what information is stored on their networks, and what restrictions may apply to internet usage from their network, before you access the Service, send emails or provide an email address from such a network.

9. Intellectual property rights

We (or our licensors as applicable) hold all copyright and all other intellectual property rights in this website and the Services, including without limitation, in relation to your password, Security Code, reference number and account number. All rights are reserved. You have no rights to use any of our intellectual property except as set out in this Agreement.

Except for the purpose of accessing the Services and producing print-outs for your own personal use or to the extent that we consent otherwise in writing addressed to you, no material on this website may be copied, displayed, modified, reproduced, stored in a retrieval system, transmitted (in any form or by any means), distributed, used for creating derivative works or used in any other way for commercial or public purposes.

10. Suspension and termination of the services

At our sole discretion, we may immediately suspend or terminate your access to and use of all or any part of this website and the Services from time to time. We will inform you of any suspension or termination as soon as reasonably possible.

If you redeem all of your investments held with us, either of us may immediately terminate your right to access and use this website and the Services by notice in writing.

Any suspension or termination of your right to access and use this website and the Services will not affect applications already accepted by us, whether or not we have already actioned them, unless we believe that there may be a risk of fraud, or we are prevented by law from actioning your application.

11. Complaints

If you have a comment or complaint about this website or the Services, please tell us by contacting our Customer Services team on 0845 602 8823 or by writing to our Compliance Office at HBOS Investment Fund Managers Limited, PO Box 285, York, YO90 1HX

12. Variation

We may vary this Agreement at any time on written notice to you, either by direct communication with you, or by general notice on the website. Any change by us will be effective immediately and deemed accepted by you the next time you access the website or use the Services, or 14 days after we have given you notice (whichever is the shorter period). No amendment to this Agreement by you will be effective unless made in writing and signed by both parties. You should ensure that you read this Agreement every time you use the Services to ensure that you are still in agreement with its contents.

13. General provisions

14. Legal information

You acknowledge that you have read and understood the information contained in the legal information on the Companies website and you acknowledge that this applies to the entire website, including the Site, where appropriate. You also acknowledge that the pages of this website are maintained by the Companies.