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Modern Merchant Banking

Application form and guidance notesSapphire SSAS fixed term deposits

Applying for the Sapphire SSAS fixed term deposits

Sapphire SSAS fixed term deposit acceptance criteria

The Account terms of deposit are 9 months, 1 year, 18 months, 2 years, 3 years, 4 years and 5 year (the ‘Term’)

We will only accept deposits and documentation from SSAS Trustees and SSAS Administrators where we are satisfied that:(a) the SSAS is a HMRC registered pension scheme and there is no reason why that registration might be withdrawn; and (b) the SSAS is registered with the UK Pension Regulator (unless the SSAS is exempt from this requirement).

The Account is open to funds held in a UK registered SSAS only. Application is subject to availability and we may withdraw the offer at any time without notice. We reserve the right to refuse a deposit or decline to open an Account.

Please:(a) carefully read the information and Additional Conditions on pages 1 and 2 (retain these for your information); and(b) complete the details requested on pages 3 to 5 in pen using BLOCK CAPITALS; and(c) sign the declarations in Section 6 on page 5.

All fields in the application form are mandatory, unless stated otherwise. We may have to return incomplete or incorrectly filled application forms which may delay the processing of your application.

Please send the completed requested (see documentation checklist inapplication form, together with any documentation that we haveSection 5) to Close Brothers Limited, 4th floor, 10 Crown Place, London, EC2A 4FT.

Important informationOur agreement with you ('Agreement') comprises the following documents:

dna ;tuo tes snoitidnoC lanoitiddA eht gnidulcni ,mrof noitacilppa siht.12. the Customer Agreement Terms and Conditionsincluding any amendments to any of these documents that may be made from time to time.

A copy of the Customer Agreement Terms and Conditions is provided with this application form and can be found on our website (www.closesavings.co.uk). A copy is also available upon request by telephoning or emailing our Business Relationship team using the details below.The Agreement is a contract between us and you. By signing and returning the application form to us, you are signifying that you agree

If you have any questions about this application or the Agreement or do not understand anything, please contact our Business Relationship team on 020 3857 3060 (opening hours: Monday to Friday, 9am - 5pm, excluding UK bank holidays) or email savings@closebrothers.com.

to the terms of the documents that comprise the Agreement, as set out above.

dna gningis yb meht ot gnieerga erofeb ylluferac tnemeergA eht gnisirpmoc stnemucod eht daer tsum uoy ,noitcetorp dna tifeneb ruoy roFreturning the application form to us.

Please retain pages 1 and 2 for your information.A SSAS is a Small Self Administered Pension Scheme. A SSAS will be set up by an employer on behalf of one or more individuals in order to save for their retirement (SSAS Member). However, the assets of the SSAS will be legally owned by the SSAS’s trustee(s) (SSAS Trustees). A SSAS Member must be a SSAS Trustee. Some SSASs will also have an additional professional trustee, SSASs will be administered either by the SSAS Trustees, or by someone appointed on their behalf to do that, or possibly both (the ‘SSAS Administrator’).

Depending on the terms of your SSAS and how it has been set up, one or more of the SSAS Trustees and the SSAS Administrator may have the power to open and operate bank accounts for your SSAS (Legal Applicant). All applications for the Sapphire SSAS fixed term deposit account (Account) must be made by the appropriate Legal Applicant(s).

are the SSAS Trustees, references in the application form to ‘you’ and ‘your’ means the SSAS Where the Legal Applicant for an AccountTrustees. Where the Legal Applicant for an Account is the SSAS Administrator, references to ‘you’ and ‘your’ means the SSAS Administrator. Where the Legal Applicant for an Account is one or more of the SSAS Trustees and the SSAS Administrator, references to ‘you’ and ‘your’ means one or more of the SSAS Trustees and the SSAS Administrator accordingly.

References in this application form to ‘our’ and ‘us’ means both of Close Brothers Limited and Close Brothers Savings, or either of them as the context requires.

For the application to be considered we must receive both a fully completed signed application form and a cheque, or an electronic transfer of funds or alternatively an instruction to transfer funds from an account with us in your name. The total amount to be deposited with us must be received by us in one single payment.

The Account is a fixed term deposit with interest paid annually (excluding 9 month fixed term) and at maturity (all terms). This offer is limited and subject to availability. Please note that no early withdrawals are permitted. Interest payments will automatically be paid by electronic transfer to a designated bank account in your name to which repayments from the Account will be made by us (the ‘SSAS Account’). We will contact you approximately four weeks ahead of the maturity of the Account notifying you of options to either have the principal deposit and final interest payment repaid or reinvested into a new fixed term deposit account which may be available at that time. The balance (the principal sum deposited) will therefore not change during the term of the Account.

Sapphire SSAS fixed term deposit Additional ConditionsAll deposits placed with us are subject to the terms of the Agreement (as may be varied from time to time) which include these Additional Conditions. If there is any conflict between the Customer Agreement Terms and Conditions and the Additional Conditions, the Additional Conditions will apply and are overriding.

1. You may not withdraw funds or deposit additional funds into the Account during the Term.

How to send funds Funds may be deposited by way of electronic transfer or cheque. Further details included on page 4. We require both an orginal completed application form and cleared funds in order to open the Account.

Deduction of tax on interest

SSAS AccountPlease note that the SSAS Account nominated for repayments is the account to which we will make repayments of principal and interest from the Account. The SSAS Account must be in the same name as the Account or a pooled client account. For verification purposes, please enclose a photocopy of a recent bank statement dated within the last 3 months for the SSAS Account with the account holder's name, account number and sort code clearly visible or alternatively a paying in slip or a voided cheque. Please be advised that any originals may be retained for our records.

Any changes to the SSAS Account must be received by us in writing and must be signed by all Legal Applicants who have signed this application form, at least 10 days prior to any repayments being made by us. The request must be accompanied by a photocopy of a bank

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statement for the SSAS Account dated within the last 3 months confirming the amended repayment details.

All interest will be paid gross of tax.

Processing of applicationsWe make every effort to process all application forms as soon as we receive them, but in the event of high demand it could take up to 10 working days to open the Account. Interest is payable upon receipt of cleared funds which in the case of electronic transfers is the value date our account is credited. If your application is rejected, funds will be returned to you within 5 working days (from the date the application was rejected).

4. The interest rate is fixed for the Term. We will not change any other terms of the Agreement except for a reason listed in conditions14.11 and 14.12 of the Customer Agreement Terms and Conditions.

Interest rates are reviewed on a weekly basis and are available on our website www.closesavings.co.uk or by calling our BusinessRelationship team on 020 3857 3060. The interest rate applied to your Account will be the rate advertised on our website (www.closesavings.co.uk) on the date we receive your completed application form and will be fixed until the first maturity date. Please note, we reserve the right to cancel your application if we do not receive all cleared funds within 5 working days of us receiving the application form.

3.

5. Interest is accrued daily at the agreed rate and is payable annually (excluding 9 month fixed term) and at maturity (all terms). Interest payable on the Account will be paid into the SSAS Account. Please note, interest is not compounded. The confirmation of our acceptance of this application form will show the projected interest that will be earned over the Term.

6. Whenever a payment is due on a day that is not a working day in the UK, we will make that payment on the next working day.Interest will be calculated up to the end of the day prior to the day on which payment is made.

7. All interest earned will be paid gross of tax.

8. Once we have accepted your application form, you will not have a right to cancel the Agreement.

In the event of:

(a) the death of a SSAS Member to which the Account relates; or(b) an effective pension sharing order within the meaning of section 28 of the Welfare Reform and the Pensions Act 1999 being

made in relation to the SSAS assets of a SSAS Member to whom the Account relates and which are held by you under theSSAS to which the Account relates,

10. The minimum balance is £100,000 and the maximum balance (the principal sum deposited) is £5 million per Account.

11. We will only accept one single remittance of funds into the Account, by way of cheque or electronic transfer.

12. The Account will be opened within 10 working days of receipt of the completed application form and cleared funds. However, wemay require additional documentation for anti-money laundering purposes, in order to finalise our account opening procedures.

We will contact you four weeks prior to the maturity of the Account giving you notification of the options that are available at the time.If we have not received instructions from you on maturity, the principal deposit and the final interest payment will be repaid into the SSAS Account.

13.

14.

and you providing us with such documentary evidence as we may reasonably request, we will terminate the Account and send thedeposit, plus any interest accrued to the date of the death/pension sharing order (as applicable), to the SSAS Account.‘

9. You cannot close or amend the Account before the maturity date. Once the Account has been opened, you may not in any waytransfer it into another person’s name or remove a person from the Account. However you may, with our written consent, assign thebenefit of the Account to the trustees of another UK registered pension scheme of which you are a member provided that you enterinto any documents (including a deed of assignment) or provide such information or take such steps as we may require as acondition of that consent.

Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited ('CBL'), a subsidiary of Close Brothers Group plc. CBL is registered in England and Wales with company number 195626 and registered office at 10 Crown Place, London EC2A 4FT. Close Brothers Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 124750. CBL is a member of the Financial Services Compensation Scheme ('FSCS') which protects up to £85,000 of an eligible depositor’s funds held with CBL. The FSCS limit relates to the total funds held by a depositor with CBL, including their share of any joint account and not to each separate account.

2. We will only accept instructions on the Account from the Legal Applicant.

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Sapphire SSAS fixed term deposit Account application form

Modern Merchant Banking

Account holder contact details (please tick to confirm the contacts that should be sent the correspondence)

SSAS Administrator

Account holder (name of scheme): Please note that the Account holder must be the same as the attached bank statement

Person(s) authorised under scheme’s rules to open the account

Account designation (e.g. ABC1234)

SSAS Trustee

Full name

Address

Postcode

Contact name

Telephone number

Email address

Section 1. About the scheme

Full name

Address

Postcode

Contact name

Telephone number

Email address

SSAS Co-Trustee Full name

Address

Postcode

Contact name

Telephone number

Email address

Please tick the appropriate contact boxes above to confirm where correspondence should be sent to. If no box is ticked, we will automatically send correspondence to the SSAS Administrator.

Please complete this form in BLOCK CAPITALS and then return to Close Brothers Limited, 4th floor, 10 Crown Place, London EC2A 4FT. All fields are mandatory, unless stated otherwise. We may have to return incomplete or incorrectly filled forms which may delay the processing of the application.For any questions regarding the application, please contact us on 020 3857 3060.

If you require additional pages for additional SSAS Trustee Legal Applicants, please refer to the Appendix at the back of this application form.

SSAS

Date of birth

Date of birth

Full name of regulated firm

Please fill in the boxes below if you consent for us to contact the Financial Adviser on this deposit with account specific information (e.g notification of a deposit maturity).

Regulator reference number

Name of regulator

Address for correspondence Postcode

Contact name

Email address

Please tick to OPT OUT of marketing updates from Close Brothers Savings

Financial Adviser

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Sapphire SSAS fixed term deposit account - application form

*If you require additional pages for multiple deposits, please print supplementary copies of this page and submit with theapplication form. • BACS/CHAPS electronic transfers should be made to Sort code 16-04-00, quoting ‘Account number 31277401’, and referencing

account designation in the reference box. Please send funds so they are available when we process your application. We requireapplication and cleared funds in order to open the account.

• Cheques should be made payable to Close Brothers Limited ‘Account holder name’ e.g. if the account was to be opened in the nameof Company ‘X’ Ltd, the cheque should be made payable to Close Brothers Limited a/c ‘re: Company ‘X’ Ltd’.

both an original completed

Financial information - Source of Funds

To opt in, please tick here:

If you do not want to receive marketing information from Close Brothers Limited in this context, please tick here:

If you do not want to receive marketing information from other companies in our group in this context, please tick here:From time to time we would like to offer you products and services that we believe may be of interest or benefit to you and are offered by companies outside of Close Brothers Group. We will not disclose your details to third parties, unless you specifically opt-in to this type of mailing.

You may contact us at any time to ask us not to use your information in this way by writing to us either by email at savings@closebrothers.com or by post at Customer Services, Close Brothers Savings, 4th floor, 10 Crown Place, London, EC2A 4FT.

Section 4. How we use your informationPlease note that Close Brothers Limited will hold and use your personal information for the purposes of providing our services to you and for other purposes connected with our relationship with you, and we may share your personal information with others, including credit reference agencies and fraud prevention agencies, for certain purposes. Please see condition 11 of the Customer Agreement (’How we use your information’), which describes the information we will be using and sharing, who we may share it with and the purposes that we and they will use it for. We may also use your personal information and share it with other companies within Close Brothers Group for us and them to send you information about products or services that we or they think may be of interest to you. By signing this application form you agree to this. You may contact us at any time to ask us not to use your information in this way.

How did you hear about Close Brothers Savings and / or our Pension Deposits range?

Google searchEmail from Close Brothers Investmentsense.co.uk

Citywire.co.ukClose Treasury teamFinancial Adviser

Other (please specify below)

Section 3. Account requirements

We are required by anti-money laundering guidelines to ask for the source of the SSAS Account funds (which may be from inheritance, a property sale, maturing deposit etc). Please provide this information below, and note that we reserve the right to request reproductions of supporting documentation.

Existing pension funds

Other (please specify)

Please tick if appropriate

Section 2. Nominated SSAS account for repaymentsAll requested repayments will be sent solely to the SSAS Account.

Bank name & address

Sort code Account number

Roll number

Deposit amount (£)

£100,000 Example:

Please complete details of the deposit(s)*:

Term of deposit

htnom 811 year 2 year 3

year 4 year 5 year

htnom 811 year 2 year 3 year 4 year 5 year

htnom 811 year 2 year 3 year 4 year 5 year

htnom 811 year 2 year 3 year 4 year 5 year

9 month

9 month

9 month

9 month

Sapphire SSAS 0517Sapphire SSAS fixed term deposit account - application form

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Section 6. Declarations by the SSAS Administrator / Trustees

By signing this Section 6, you agree and confirm that:

6.i you are applying to open the Account as described in this application form and you have read and accepted the terms of this applicationform, the Additional Conditions, the Customer Agreement Terms and Conditions and all documents that constitute the Agreement and any other marketing material previously sent to you by us;

6.ii the information contained in this application form is true and complete and you will notify us promptly if any of the information changesand on request provide us with any revised documentation reasonably required by us;

6.iii once we have confirmed acceptance of this application form, you shall be bound by the Agreement in replacement of any otheragreement with us relating to the Account;

6.iv you warrant that our appointment to provide the Account pursuant to the Agreement complies with the governing documentation of yourS SAS in respect of which this Account has been applied for and all relevant laws applicable to your SSAS;

6.v you warrant that the person(s) signing this application form and providing the information required by it are legally authorised to do soand open an Account as the relevant Legal Applicant(s) under the governing documentation of your SSAS, with authority and capacity to enter into and be bound by their respective obligations contained in the Agreement. In signing this Section 6 all SSAS Trustees who are also SSAS

Members are signing both in their capacity as SSAS Members and as SSAS Trustees;

6.vi you confirm that the SSAS Members have understood the extent of the compensation provided by the Financial Services Compensation Scheme (FSCS) in the event that we are unable to meet our financial obligations under the Agreement and that levels of protection under the FSCS can vary over time. Please note, each individual SSAS Member is protected by the FSCS for eligible deposits up to £85,000.

Signature SSAS Trustee / SSAS Administrator

You will indemnify us on a joint and several basis against all losses incurred by us, as a result of any breach by you of your obligations under this Agreement. Notwithstanding any other provision of this Agreement, your liability under this Agreement shall be limited to the value of the assets of the SSAS at the time that the liability in question must be satisfied by you based on the latest available valuation information for the SSAS’s assets.

Signed below by the SSAS Trustee(s) and / or SSAS Administrator as Legal Applicants.

Signature SSAS Trustee / SSAS Administrator (if applicable)

Print name

Date Date

Print name

If you require additional signatory boxes for additional SSAS Trustee Legal Applicants, please refer to the Appendix at the back of this application form.

Financial Services Compensation Scheme (‘FSCS’) Information Sheet and Exclusions List (mandatory)

PIease note, we cannot accept your deposit without receipt of this signed acknowledgement.

I confirm receipt of the enclosed FSCS Information Sheet and Exclusions List. Further, I confirm that I have provided all SSAS Members with a copy of the document.

Name of Scheme Administrator / Trustee:

Signature of Scheme Administrator / Trustee:

Account officer SAS

Current signatory list of the Authorised Officials (Legal Applicant)

Section 5. Documentation checklist

To complete our account opening formalities, please enclose the following documents with the completed application form. If a HMRC scheme approval letter and signatory list have previously been provided, we do not need to receive these documents again unless there is a change to either (original documentation may be retained for our records).

Original or certified copy of the current Trust Deed and Rules

A copy of a bank statement, dated within the last 3 months , confirming t S Account for repayments as detailed in section 2.ASS eh Alternatively, a paying in slip or cheque marked ‘void’.

A certified HMRC Confirmation of Registration status screenshot

Sapphire SSAS 0217 Appendix I

Sapphire SSAS - Appendix ILegal Applicants continued

Yes No Existing customer number (if applicable)

Modern Merchant BankingAre you an existing or previous customer?

Account holder contact details (please tick to confirm the contacts that should be sent correspondence)

SSAS Trustee / Co-Trustee (clearly delete one as appropriate)

Full name

Address

Postcode

Signature

Telephone number

Email address

Date

Please tick the appropriate contact boxes above to confirm where correspondence should be sent to. If no box is ticked, we will automatically send correspondence to the SSAS Administrator as detailed on page 3 of the Sapphire SSAS application form.

As part of your application, if you require additional contact details and signatures of SSAS Trustee Legal Applicants, please complete the belowas appropriate and return with the Sapphire SSAS application form to Close Brothers Limited, 10 Crown Place, London EC2A 4FT.

All SSAS Trustee Legal Applicants signing this Appendix must do so having read the Sapphire SSAS fixed term deposits application form and guidance notes in full.

SSAS

SSAS Trustee Legal Applicants (continued)

SSAS Trustee / Co-Trustee (clearly delete one as appropriate)

Full name

Address

Postcode

Signature

Telephone number

Email address

Date

SSAS Trustee / Co-Trustee (clearly delete one as appropriate)

Full name

Address

Postcode

Signature

Telephone number

Email address

Date

SSAS Trustee / Co-Trustee (clearly delete one as appropriate)

Full name

Address

Postcode

Signature

Telephone number

Email address

Date

Date of birth

Date of birth

Date of birth

Date of birth

Customer copy

(please retain)

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Merchant Banking

Continue overleaf

Information Sheet and Exclusions List

General limit of protection2

Scheme responsible for the protection of your deposit

Additional information1

Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme.

Basic information about the protection of your eligible deposits

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Eligible deposits in Close Brothers Limited are protected by:

Limit of protection:

If you have more eligible deposits at the same bank / building society / credit union:

If you have a joint account with other person(s):

Reimbursement period in case of bank, building society or credit union’s failure:

Currency of reimbursement:

To contact Close Brothers Limited for enquiries relating to your account:

To contact the FSCS for further information on compensation:

More information:

the Financial Services Compensation Scheme (“FSCS”)

£85,000 per depositor per bank / building society / credit union

The following trading names are part of your bank / building society / credit union:

Close Brothers Treasury and Close Brothers Savings are trading styles of Close Brothers Limited (‘CBL’), a subsidiary of Close Brothers Group plc.

All your eligible deposits at the same bank / building society / credit union are “aggregated” and the total is subject to the limit of £85,000.

The limit of £85,000 applies to each depositor separately.

20 working days

Pound sterling (GBP, £) or, for branches of UK banks operating in other EEA Member States, the currency of that State.

Close Brothers Limited4th Floor10 Crown PlaceLondonEC2A 4FT

Tel: 020 3857 3060

Financial Services Compensation Scheme10th Floor Beaufort House15 St Botolph StreetLondonEC3A 7QU

Tel: 0800 678 1100 or 020 7741 4100

Email: ICT@fscs.org.uk

http://www.fscs.org.uk

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If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum £85,000 per bank, building society or credit union. This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with £80,000 and a current account with £20,000, he or she will only be repaid £85,000.

In some cases eligible deposits which are categorised as “temporary high balances” are protected above £85,000 for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:

(a) certain transactions relating to the depositor’s current or prospective only or main residence or dwelling;(b) a death, or the depositor’s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity;(c) the payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction.

More information can be obtained under http://www.fscs.org.uk.

n

Financial Services Compensation Scheme

Moder

Please retain this FSCS Information Sheet and Exclusions List for your records.

This method will also be applied if a bank, building society or credit union operates under different trading names. Close Brothers Limited also

trades under Close Brothers Treasury and Close Brothers Savings. This means that all eligible deposits with one or more of these trading namesare in total covered up to £85,000.

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Limit of protection for joint accounts3

In case of joint accounts, the limit of £85,000 applies to each depositor.

However, eligible deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of £85,000.

Reimbursement4

The responsible Deposit Guarantee Scheme is the Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London, EC3A 7QU, Tel: 0800 678 1100 or 020 7741 4100, Email: ICT@fscs.org.uk. It will repay your eligible deposits (up to £85,000) within 20 working days until 31 December 2018; within 15 working days from 1 January 2019 until 31 December 2020; within 10 working days from 1 January 2021 to 31 December 2023; and within 7 working days from 1 January 2024 onwards, save where specific exceptions apply.

Other important information

In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. Your bank, building society or credit union will also inform you of any exclusions from protection which may apply. If deposits are eligible, the bank, building society or credit union shall also confirm this on the statement of account.

Other important information

Exclusions list

If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under http://www.fscs.org.uk.

Where the FSCS cannot make the repayable amount available within 7 working days, it will, from 1 June 2016 until 31 December 2023, ensure that you have access to an appropriate amount of your covered deposits to cover the cost of living (in the case of a depositor which is an individual) or to cover necessary business expenses or operating costswithin 5

(in the case of a depositor which is not an individual or a large company) working days of a request.

A deposit is excluded from protection if:

(1) The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank, bank building society or credit union.

(2) The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering.

(3) It is a deposit made by a depositor which is one of the following:

• credit institution• financial institution• investment firm• insurance undertaking• reinsurance undertaking• collective investment undertaking• pension or retirement fund1

• public authority, other than a small local authority

For further information about exclusions, refer to the FSCS website at www.FSCS.org.uk

1Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded.