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NAB OnLine Trading Information, trading and settlement services provided by
Australian Investment Exchange Ltd
Australian Investment Exchange Ltd
NAB OnLine Trading Access Terms
Effective 4 October 2006
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The NAB OnLine Trading service is an information, trading and settlement service provided by the Service Provider (currently Australian Investment Exchange Ltd). The NAB OnLine Trading was established by National OnLine Trading Limited ABN 83 089 718 249, who facilitates access to the NAB OnLine Trading service.
This document contains important information regarding the terms and conditions which will apply to all your dealings with National OnLine Trading Limited and other members of the National Australia Bank Group. You should read this document carefully and retain it for future reference. The Service Provider has its own set of Terms and Conditions and National OnLine Trading Limited (and other members of the National Australia Bank Group) are not a party to those Terms and Conditions. |
Part A - Access Terms
These Access Terms set out the Terms and Conditions on which you can use our services to trade on the Australian Stock Exchange (ASX) and obtain information services through the nominated third party Service Provider.
Clause 15 sets out an explanation of the meaning of terms used in these Access Terms, the Privacy Notice in Part B, and the Account Authority contained in Part C.
1.0
Access To The Sites And The Telephone Service
1.1
We grant to you a right to access the Sites and the Telephone Service for the purpose of using the Services. This right of access is for your use only.
1.2
We reserve the right to withdraw or suspend your access to the Sites or the Telephone Service and the Services at any time.
1.3
We nominate a third party Service Provider to provide the Services to you. If you wish to use the Services, you agree to enter into a contract with that third party Service Provider.
1.4
We may change the third party Service Provider used to provide the Services to you at any time. If you wish to continue to use the Services, you agree to enter into a contract with the new third party Service Provider.
1.5
You agree not to access the Sites or the Telephone Service, enter into a transaction, nor to use any of the Services while you are outside Australia.
2.0
NAB Logon ID And Other Passwords
You are responsible for the confidentiality and use of your NAB Logon ID. If you become aware of any loss or theft or unauthorised use of your NAB Logon ID you must notify us immediately. Your NAB Logon ID may be cancelled at any time without notice, but we will notify you as soon as practical thereafter if this happens.
If we issued you with a Trading PIN and/or you nominated a keyword before you agreed to adopt these Access Terms, we will disclose that Trading PIN and/or keyword to the Service Provider, and, subject to your agreement with the Service Provider, that will be your initial Trading PIN and/or keyword for the purposes of the Services provided by the Service Provider.
3.0
Acknowledgments
3.1
You warrant that the information you give us in your Application is complete and correct. Any change in that information (including your postal address and email address) must be notified to us within seven (7) Business Days.
3.2
You acknowledge that:
| (a) | we will not give you any advice or recommendation about your transactions; and |
| (b) | our officers, employees, agents and representatives are not authorised to give any advice or recommendations about Financial Products or investments; and |
| (c) | you must rely on your own judgment, assessment or evaluation (with or without the assistance of an adviser) having regard to your financial situation, investment objectives and particular needs before giving any investment instructions; and |
| (d) | you are aware that the value of Financial Products can fall as well as rise and you should obtain financial advice prior to making an investment; and |
| (e) | the Services are provided solely by a third party Service Provider nominated by us. Any transaction entered into by that Service Provider on your behalf, does not create any legal responsibilities, obligations or duties on us to you. |
4.0
Liability Excluded
4.1
You have certain rights implied by law, including rights set out in the Australian Securities and Investments Commission Act 1989 (Cth) and the Trade Practices Act 1974 (Cth).
4.2
If our liability (or the liability of any provider of information) for a breach of a right or term implied by law (whether by statute or otherwise) is capable of exclusion, it is hereby excluded.
4.3
Subject to the Prescribed Terms, we are not liable to you for any loss, damage, cost or expense whether direct or indirect, consequential or economic (and whether or not caused by our negligence or the negligence of any provider of information) which arises in connection with anyone or more of the following:
| (a) | our acting in accordance with these Terms; or |
| (b) | any unauthorised use of your NAB Logon ID or other passwords; or |
| (c) | any fault, error or defect in design or engineering of the Sites or any delay, fault, failure in or loss of access to the Sites or the Telephone Service; or |
| (d) | any delay or non-performance by us resulting from matters beyond our reasonable control; or |
| (e) | through your use of the Services provided by the third party Service Provider. This provision extends, without limitation, to the Service Provider's failure to carry out your instructions or for any acts or omissions of the Service Provider in relation to the Service (including website content). |
4.4
If our liability for a breach of a right or term implied by law (whether by statute or otherwise) is capable of limitation (but not exclusion) it is hereby limited to either of the following at the discretion of the person liable:
| (a) | the resupply to you of that part of the Service in respect of which the cause of liability arose; or |
| (b) | the payment of the cost of resupply of that part of the Service in respect of which the cause of liability arose. |
4.5
Our liability for a breach of a right or term which is not implied by law shall not exceed an amount equal to the fee paid by you to us in respect of the matter to which the breach relates.
4.6
Subject to any Prescribed Term, if we facilitate linkages to other websites or provide or make available (including by way of a referral service) general research, information or recommendations provided by other persons, we are not liable to you if you rely on any research, information, advice or recommendation provided by such Sites or persons.
5.0
Commissions And Brokerage
5.1
You agree that we may receive commissions from the Service Provider in relation to your use of the Services, and from the Service Provider and issuers of Financial Products in relation to other products and services provided to you. See our Financial Services Guide for more details about commissions. We are not obliged to rebate these commissions to you unless we specifically agree with you to do so.
6.0
GST
6.1
Notwithstanding any other provision of these Terms:
| (a) | if GST has application to any supply made by us under or in connection with these Terms we may, in addition to any amount or consideration payable under these Terms, recover from you an additional amount on account of GST, such amount to be calculated by multiplying the relevant amount or consideration payable by you for the relevant supply by the prevailing GST rate; and/or |
| (b) | without limiting the generality of the foregoing, if we are not entitled to an input tax credit in respect of the amount of any GST charged to or recovered from us by any person, or payable by us, or in respect of any amount which is recovered from us by way of reimbursement of GST referable to any supply made under or in connection with these Terms, we will be entitled to increase any amount or consideration payable by you on account of such input tax and recover from you the amount of any such increase. |
6.2
Any additional amount on account of GST, or on account of an amount for which we are not entitled to an input tax credit, recoverable from you pursuant to clause 6.1 is to be calculated without any deduction or set-off of any other amount and is payable by you upon demand by us whether such demand is by means of an invoice or otherwise.
7.0
Variation
7.1
We may vary these Terms (including altering or deleting a provision of these Terms or adding a new provision to these Terms).
7.2
Except where stated otherwise in these Terms:
| (a) | any variation of these Terms may only be made by us to have effect after we notify you of the variation; |
| (b) | we will notify you of any variation of these Terms by post, facsimile or electronically or by notice on the Entry Site, or advertisement in the national or local media; |
| (c) | however, we do not need to give you advance notice where any variation of these Terms is required to comply with a prescribed requirement, or necessitated by an immediate need to restore or maintain the security of the system or individual accounts; and |
| (d) | any continued use by you of the Services is an acceptance of the variation. |
8.0
Termination
8.1
Either party has the right to terminate this agreement by giving not less than 5 clear Business Days notice in writing to the other party. Termination will not affect any rights or obligations accrued prior to termination.
8.2
Termination of these Terms will result in a termination of the contract between you and the Service Provider. Similarly, termination of the contract between you and the Service Provider, will result in a termination of these Terms.
9.0
Notices
9.1
Any notice or other communication in connection with these Terms:
| (a) | may, except as set out in clauses 7.2 and 9.2 be given by post, facsimile or electronically if sent to the address or facsimile number most recently notified by the recipient to the sender; and |
| (b) | if given by post will be deemed to have been received on the third Business Day following posting; and |
| (c) | if given by facsimile, will be deemed to have been received upon production of a transmission report by the machine from which the facsimile was sent which indicates that the facsimile was sent in its entirety to the facsimile number of the recipient; and |
| (d) | (i) if given to you electronically will be deemed to have been received upon delivery (and a delivery report received by us will be conclusive evidence of delivery even if the communication is not opened by you); and (ii) if given to us electronically will be deemed to have been received upon being opened by us. |
9.2
Any notice given to us or the Service Provider, through the Service, will be deemed as having been given to us and the Service Provider.
9.3
A notice of a change in name or address must be given in writing.
10.0
Trustee Client
10.1
If you are a Trustee Client, you warrant that you have full power and authority to enter into and perform these Terms. These Terms will bind you both personally and as trustee.
11.0
Joint Clients
11.1
Each Joint Client is jointly and severally liable and we may act on the instructions of any of those persons.
12.0
Authorised Representatives
12.1
You authorise each person you appoint in your Application as an Authorised Representative to give us instructions.
12.2
You authorise us to accept and act on any instructions issued by an Authorised Representative. You also agree to:
| (a) | ensure that an Authorised Representative acts; and |
| (b) | ratify anything that an Authorised Representative may lawfully do or cause to be done, |
12.3
Without limiting clauses 12.1 and 12.2, you authorise any Authorised Representative to agree to any amendment to these Terms, or any other agreement with you in connection with the Service.
13.0
Applicable Law
13.1
These Terms are governed by the laws of Victoria and you and we submit to the non-exclusive jurisdiction of the Courts of Victoria.
14.0
Other
14.1
Unless the contrary intention appears, the headings used in these Terms are for convenience only and do not affect the interpretation of these Terms.
15.0
Definitions
"Application"
the application form completed by you.
"Authorised Representative"
each person specified as an Authorised Representative in your Application.
"Business Day"
has the meaning given in the Settlement Rules.
"Cash Account"
an account described in Part C for use in connection with the Services.
"Cash Account Provider"
National Australia Bank Limited if the Cash Account is a bank account or a NAB Cash Manager account.
"NAB Cash Manager"
NAB Cash Manager account with National Australia Bank Limited.
"Entry Site"
the Internet website nab.com.au/trading or any other site we notify to you.
"Financial Products"
means Division 4 financial products as defined in Regulation 7.11.03 of the Corporations Regulations, approved by ASTC in accordance with the Settlement Rules.
"GST"
means a goods and services tax or any similar tax imposed in Australia.
"NAB Logon ID"
collectively, your NAB Identification Number and NAB Identification Password.
"person"
includes an individual and a body corporate.
"Prescribed Requirement"
a requirement in any law, any applicable industry code, the ASTC Settlement Rules, ASX Market Rules or the ACH Clearing Rules.
"Prescribed Term"
means a right or a term:
| (a) | which is implied by law, by statute or otherwise, including (but not limited to) a right or term implied by the Australia Securities and Investments Commission Act 1989 (Cth) or the Trade Practices Act 1974 (Cth); and |
| (b) | in respect of which liability to you cannot be excluded or limited. |
"Service"
The information, trading and settlement service provided by the third party Service Provider, whether accessed via the Sites, the Telephone Service or via any other service. The Service includes any information provided on the Sites, or on sites accessed via the Sites, via the Telephone Service or otherwise provided by the Service Provider.
"Service Provider"
The third party service provider nominated by us to provide the Services.
"Settlement Rules"
means the settlement rules of the ASX Settlement and Transfer Corporation.
"Sites"
means the Entry Site and the Trading Site.
"Telephone Service"
means the Telephone Service accessed from the telephone number 13 13 80, or any other number we or the Service Provider notify to you.
"these Terms"
the Terms set out in clauses 1-14.
"Trading Site"
the Site accessed from the Entry Site.
"we"
National OnLine Trading Limited and includes our directors, officers and employees and our agents and representatives and references to 'our' or 'us' have a similar meaning.
"writing"
does not include facsimile or electronic messages unless otherwise stated.
"you"
each person who signs the Application as the client and whose Application is accepted by us and the Service Provider, and to the extent relevant includes your Authorised Representative.
Part B - Privacy Notice
Section 1 of this Privacy Notice explains the way in which your personal information will be used and disclosed between us and the Service Provider.
Section 2 of this Privacy Notice provides further information about how the National Australia Bank Group, including National OnLine Trading Limited, deals with your personal information.
Section 1 - Providing The NAB OnLine Trading Service
The NAB OnLine Trading service is an information, trading and settlement service provided by the Service Provider (currently Australian Investment Exchange Ltd). The NAB OnLine Trading service was established by National OnLine Trading Limited, who facilitates access to the NAB OnLine Trading service.
Consequently, in order to provide the NAB OnLine Trading service to you, information concerning you, including any information:
- contained in your Application;
- concerning the Services which you acquire from us or the Services that you acquire from the Service Provider (or which you have acquired from us in the past if you are an existing customer of the NAB OnLine Trading service);
- concerning your NAB Identification Number (NIN), any Trading PIN previously issued to you by us and any keyword nominated by you; and
- concerning your use of the Services;
You agree that this information may be:
- collected by or made available by us to our agents or sub-contractors, the Service Provider, National Australia Bank Limited and any regulatory authority or financial market ("Recipients");
- used by any of our related bodies corporate and the Service Provider or exchanged between the Recipients for the purposes of:
- administering any use of the NAB OnLine Trading service;
- complying with its regulatory obligations;
- providing you with information about the NAB OnLine Trading service, including information about new features and functionality, and associated services;
- exercising rights or performing obligations in connection with the NAB OnLine Trading service; and
- research, planning, product development, risk assessment and modelling;
- used by us and our related bodies corporate for marketing (direct and all other kinds), unless you tell us not to.
Section 2 - Your Privacy: NAB Privacy Notification
Your Personal Information And Privacy
The privacy of your personal information has always been important to the National Australia Bank Group ('Group'). The Group is the National Australia Bank Limited and its subsidiaries such as MLC Limited and Custom Service Leasing Limited (trading as Customer Fleet). It includes all NAB's banking, financing, funds management, financial planning, superannuation, insurance, broking and e-commerce organisations.
This statement is an outline of certain matters relating to the collection and handling of your personal information by the Group.
The statement is for you if you are:
- a customer of the Group ('Customer'); or
- a representative of a Customer (for example, a signatory) a beneficiary (which includes a potential beneficiary) or some kind of third party relevant to a Customer (for example, a guarantor) (each a 'Third Party').
Collecting Your Personal Information
The purposes for which your personal information is collected will depend on the organisation with which you deal. Personal information is collected by Group organisations offering:
- banking and finance products or services such as personal accounts, loans, credit cards, term deposits, internet banking, e-commerce, derivatives, leasing and related lifestyle products or services;
- financial planning or broking services or investment products such as managed funds, investment services, superannuation funds, investment bonds, retirement savings accounts and related lifestyle products or services;
- trustee or custodial services such as safe deposit boxes or custody of assets for managed funds or superannuation funds;
- life insurance products or general insurance products which includes those offered in conjunction with other Group products or services.
- providing you with the relevant product or service (including assessing your application and identifying you);
- managing and administering the product or service;
- protecting against fraud where it is a banking and finance, or insurance, product or service.
If you are a representative of a Customer then your personal information will be collected for the purpose of identifying you.
If you are a beneficiary your personal information will be collected for the purpose of determining whether you will be paid a benefit that has become payable upon another person's death.
If you are any other type of Third Party your personal information will be collected for the purpose of providing the Customer with the relevant product or service (including assessing their application and identifying them), managing and administering the product and service or protecting against fraud where it is a banking and finance or insurance product or service.
If a Group organisation does not obtain the information it seeks it may not be able:
- to process your request;
- to manage or administer your product or service;
- to tell you about other products or services from across the Group that might better serve your financial, e-commerce and lifestyle needs;
- if you are a representative, to verify your authority to act on behalf of a Customer;
- if you are a beneficiary, to consider the information you have not provided in determining whether you will be paid a benefit;
- if you are another type of a Third Party, to provide a Customer will the relevant product or service (including assessing their application and identifying them), manage and administer their product or service or protect against fraud.
In line with modern business practices common to many financial institutions and to meet your specific needs (such as where you have a financial adviser), we may disclose your personal information to the organisations described below. Where your personal information is disclosed, we will seek to ensure that the information is held, used or disclosed consistently with the National Privacy Principles in the Privacy Act 1988 (Commonwealth), and other applicable privacy laws and codes.
The relevant organisations are those:
- involved in providing, managing or administering your product or service such as third party suppliers, other Group organisations, loyalty and affinity program partners, printers, posting services, call centres, lenders, mortgage insurers and our advisers;
- which are Group organisations who wish to tell you about their products or services that might better serve your financial, e-commerce and lifestyle needs or promotions or other opportunities, and their related service providers, except where you tell us not to;
- who are your financial advisers and their service providers;
- involved in maintaining, reviewing and developing our business systems, procedures and infrastructure including testing or upgrading our computer systems;
- involved in a corporate re-organisation;
- involved in a transfer of all or part of the assets or business of a Group organisation;
- involved in the payments system including financial institutions, merchants and payment organisations;
- involved in product planning and development;
- which are your representatives including your legal advisers;
- as required or authorised by law, for example, to government or regulatory bodies for purposes related to public health or safety, the prevention or detection of unlawful activities or to protect public revenue;
- where you have given your consent.
- banking and finance products or services - other organisations to which personal information is usually disclosed are card producers, card schemes, credit and fraud reporting agencies, debt collection agencies, mortgage insurance companies, your guarantors, organisations involved in valuing, surveying, or registering a security property or which otherwise have an interest in such property, purchasers of debt portfolios, underwriters, re-insurers and other organisations involved in NAB's normal business practices (such as securitisation).
- financing planning or broking services or investment products - other organisations to which personal information is usually disclosed are superannuation and managed funds organisations and their advisers, organisations in which you invest and other organisations involved in NAB's normal business practices (such as securitisation).
- trustee or custodial services - other organisations to which personal information is usually disclosed are superannuation and managed funds organisations and their advisers and other organisations involved in NAB's normal business practices.
- life insurance products or general insurances products - other organisations to which personal information is usually disclosed are medical professionals, medical facilities, health authorities, assessors, underwriters, reinsurers, insurance reference organisations and fraud detection agencies and other organisations involved in NAB's normal business practices. Your personal information may also be used in connection with such purposes. Because NAB operates throughout the world, some of these uses and disclosures may occur outside Australia.
It is our practice to seek your consent to use or disclose your personal information, to tell you about, and develop, other products or services from across the Group that might better serve your financial, e-commerce and lifestyle needs, or other promotions or opportunities in which you may be interested. This may be done after an initial marketing contact. We assume we have your consent to use service providers to assist us with this (such as a posting service or an advertising agency), unless you tell us otherwise (see Contacting us).
Gaining Access To Your Personal Information
You can gain access to your personal information. This is subject to some exceptions allowed by law. We will give you reasons if we deny access. Contact us to get a form requesting access (see Contacting us). In some cases, we may be able to deal with your request over the telephone.
Contacting Us
To obtain more information about how your personal information is managed, or if you would like a copy of the our Privacy Policy or a form requesting access, please call 13 13 80, 8am to 7pm EST Monday to Friday or visit our website at nab.com.au/trading.
Part C - Account Authority
Appointment Of Service Provider To Operate Your Cash Account
If you have nominated your existing NAB Cash Manager account as your Cash Account, you hereby appoint the Service Provider to be your authorised representative on that account, on the applicable Terms and Conditions, including the Appointment of Authorised Representative form, contained in the Application Form relating to the NAB Cash Manager.
If you select a National Australia Bank Limited bank account or a NAB Cash Manager account as the Cash Account, you hereby appoint the Service Provider to be an authorised signatory on that account.
Authority To Cash Account Provider
In either case:
- you irrevocably authorise the Service Provider to operate your Cash Account on your behalf (including making deposits into it);
- you acknowledge that both withdrawals and deposits may be made electronically;
- you irrevocably authorise the Cash Account Provider to act on instructions from the Service Provider;
- you acknowledge that, where such an instruction is made, the relevant funds may be set aside in your Cash Account and may not be available to you for other purposes. You irrevocably instruct the provider of your Cash Account to set aside the funds required to settle any order and to only act on the Service Provider's instructions with respect to those funds set aside and to disregard any contrary instruction from you or any agent of yours; and
- subject to the EFT Terms and Conditions set out below, you agree that the Cash Account Provider may assume the authenticity of any instructions given or purportedly given by the Service Provider which quote your Cash Account Number and your NAB Identification Number. You authorise the Cash Account Provider to act upon any such instructions believed by the Cash Account Provider to be authentic, and agree that the Cash Account Provider is not obliged to make any enquiries into such instructions.
Transactions on Cash Account will be treated as Internet banking transactions for the purposes of calculating any fees under the Terms and Conditions of Cash Account or the Terms and Conditions of NAB Internet Banking.
For information about resolving problems or disputes, contact the NAB on 1800 152 015 or ask at any branch of the NAB.
If you subsequently feel that an issue has not been resolved to your satisfaction, you may be able to raise your concerns with the Banking and Financial Services Ombudsman scheme.
If National Australia Bank Limited is your Cash Account Provider, the Cash Account Provider warrants that it will comply with the requirements of the Electronic Funds Transfer Code of Conduct in relation to the Cash Account or transactions on it which are EFT transactions within the meaning of that Code.
Definitions
The terms NAB Cash Manager, Cash Account, Cash Account Provider and Service Provider, have the meanings as defined in Part A - Access Terms.
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 Security Update - 09 Sep 2010
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