HANG SENG BANK LIMITED INTEGRATED ACCOUNT TERMS AND CONDITIONS
PART VII TERMS AND CONDITIONS FOR HANG SENG MONTHLY INVESTMENT PLAN
1.	Choice of Securities
	1.01	The Customer may select for the Monthly Investment Plan such securities made available by the Bank from time to time for the purpose of the Monthly Investment Plan subject to any minimum or maximum number or type of securities which the Bank may prescribe and other provisions in this Part.
	1.02	The Bank is entitled to specify any conditions concerning the composition of the Monthly Investment Plan and the various portfolios comprised in the Monthly Investment Plan including, without limitation, any minimum or maximum period for which a portfolio must be maintained.
	1.03	Before selecting any securities for the Monthly Investment Plan, the Customer is required to read the product materials in relation to the Monthly Investment Plan and the relevant securities or type of securities published by the Bank. Further, before selecting any collective investment schemes, the Customer is required to read the offering documents of the relevant collective investment schemes published by the issuers of the collective investment schemes.
	1.04	The Bank reserves the right to refuse to purchase or subscribe for securities on behalf of the Customer in relation to the Monthly Investment Plan and/or to return to the Customer any securities remaining in the Monthly Investment Plan if required by any Applicable Regulations or otherwise has reasonable grounds for doing so.
2.	Monthly Contributions and Investment
	2.01	The Customer agrees to make contributions to the Monthly Investment Plan at such regular intervals as agreed by the Bank from time to time. The Bank is entitled to prescribe from time to time any minimum or maximum amount (whether in respect of the Monthly Investment Plan or any portfolio comprised in the Monthly Investment Plan) of the initial contribution to be made by the Customer to the Monthly Investment Plan and of each monthly contribution.
	2.02	The initial contributions and all monthly contributions must be made in Hong Kong dollars or any other currency as the Bank may agree by direct debit from an account (the "Payment Account") in the Customer's name with the Bank or any other bank in Hong Kong as the Bank may agree. The Bank may specify other payment methods from time to time.
	2.03	The Bank and the Customer will agree on the date on which the initial contribution will be debited from the Payment Account and the month from which monthly contributions become payable in respect of the Monthly Investment Plan or any portfolio comprised in the Monthly Investment Plan.
	2.04	The Payment Account will be debited for the monthly contributions on the same day of each month as the Bank may specify or the next Business Day if that day is not a Business Day (the "Payment Date") subject to the Bank's right to vary the Payment Date from time to time where it has reasonable grounds for doing so.
	2.05	The Bank will use the monthly contributions paid by the Customer to purchase or subscribe for the securities selected by the Customer for the Monthly Investment Plan and, if applicable, in such proportion as the Customer may have specified to the Bank.
	2.06	The Bank and the Customer will agree on the month from which the Bank will purchase or subscribe for the securities selected by the Customer for the Monthly Investment Plan on behalf of the Customer. The Bank will normally purchase or subscribe for securities within five trading days after the Payment Date (the "Securities Purchase Date") subject to the receipt of the relevant monthly contribution by the Bank and subject further to the Bank's right to vary the Securities Purchase Date from time to time where it has reasonable grounds for doing so. No interest will be payable by the Bank on any monthly contribution for the period between the Payment Date and the Securities Purchase Date.
	2.07	If there are insufficient available funds in the Payment Account to pay for the monthly contributions in full in respect of all the portfolios comprised in the Monthly Investment Plan, the Bank shall have discretion whether or not to apply the available funds towards payment of monthly contributions and, if so, to apply them towards payment of the monthly contributions in respect of any one or more of the portfolios comprised in the Monthly Investment Plan.
	2.08	The Bank is entitled to combine the Customer's orders with orders of other persons (including other customers of the Bank) and, without having to make prior disclosure to the Customer, to retain any benefit arising from combining orders. Any securities remaining after the Bank has allocated the securities to satisfy all the orders will be retained by the Bank or its nominee. The Bank may sell any such securities as principal to the Customer in order to satisfy the Customer's order from time to time at the market opening ask price on the Securities Purchase Date on which the sale is effected.
	2.09	The Customer is not allowed to transfer any securities or other investments to the Monthly Investment Plan other than the payment of monthly contributions in accordance with this Part.
3.	Changing Contributions, Securities and Direct Debit Authorization
	3.01	The Customer may change the amount of monthly contributions in respect of the Monthly Investment Plan or any portfolio comprised in the Monthly Investment Plan, change the securities selected by the Customer for the Monthly Investment Plan or any portfolio comprised in the Monthly Investment Plan and/or make any other changes as the Bank and the Customer may agree from time to time subject to:
		(a)	any restriction against change or any minimum or maximum amount or value applicable to any change or type of change reasonably prescribed by the Bank from time to time;
		(b)	the Customer giving prior notice of such reasonable period specified by the Bank from time to time;
		(c)	the Customer maintaining a valid direct debit authorization to enable the relevant change to become effective; and
		(d)	the Customer submitting such form or following such other procedures or requirements reasonably prescribed by the Bank from time to time.
	3.02	The Customer must notify the Bank immediately if there is any change in the direct debit authorization relating to the Payment Account.
4.	Dividends and Reinvestment
	The Customer authorises the Bank either to pay to the Customer any dividend or distribution received by the Bank in relation to any securities comprised in the Monthly Investment Plan or to reinvest it in the Monthly Investment Plan by purchasing or subscribing for such further securities as the Bank may decide. For the avoidance of doubt, the Bank shall be entitled to handle and dispose of dividends and distributions arising from different types of securities under the Monthly Investment Plan in different ways in accordance with this Clause 4.
5.	Redemption, Switching and Other Disposal
	5.01	The Customer may instruct the Bank to effect any redemption and/ or switching of interests in collective investment schemes comprised in the Monthly Investment Plan subject to such minimum or maximum amount reasonably prescribed by the Bank from time to time including, without limitation, any amount in respect of the value of the interests redeemed or switched or the value of the interests remaining in the Monthly Investment Plan after redemption or switching.
	5.02	The Customer may instruct the Bank to sell or dispose of any securities (other than interests in collective investment schemes) comprised in the Monthly Investment Plan subject to such restrictions, procedures, fees and charges and/or other requirements reasonably specified by the Bank from time to time.
6.	Refund of Monthly Contribution
	6.01	Unless otherwise specified by the Bank, the Bank will use each monthly contribution to purchase or subscribe for securities (other than interests in collective investment schemes) on behalf of the Customer up to the nearest whole number. Any amount of a monthly contribution remaining after purchasing or subscribing for such securities on behalf of the Customer will be refunded (without interest) to the Customer in accordance with Clause 6.03 of this Part.
	6.02	Where the Bank is unable to purchase or subscribe for securities to satisfy the Customer's order in full due to market conditions or other reasons beyond its reasonable control, the Bank shall have the right to effect the relevant purchase or subscription later. The Bank reserves the right to refund the relevant monthly contribution to the Customer (without interest) in accordance with Clause 6.03 of this Part.
	6.03	Any refund will usually be made by the Bank within 5 trading days after the relevant Securities Purchase Date subject to the Bank's right to vary the refund date from time to time where it has reasonable grounds for doing so. Any refund shall be credited to an account maintained by the Customer with the Bank or The Hongkong and Shanghai Banking Corporation Limited.
7.	Fees and Charges
	7.01	Fees and charges (including, without limitation, stamp duty and levy payable for the purchase or subscription of securities, custodian, service, handling and/or administrative fees and charges) shall be charged in accordance with the schedule of fees and charges applicable to the Monthly Investment Plan and as amended from time to time at the Bank's discretion. In the event of any increase in fees or charges applicable to the Monthly Investment Plan, the Customer will be given at least 30 days' prior notice.
	7.02	The Bank is authorized to deduct any fees and charges payable by the Customer from any monthly contribution or other moneys which may be owing by the Bank to the Customer.
8.	Termination of the Monthly Investment Plan
	8.01	The Customer or the Bank may terminate the Monthly Investment Plan at any time by giving to the other prior notice of such reasonable period specified by the Bank from time to time.
	8.02	The Bank shall be entitled to terminate the Monthly Investment Plan immediately at any time if:
		(a)	the Customer fails to make two or more consecutive monthly contributions;
		(b)	the direct debit authorization relating to the Payment Account is cancelled or becomes ineffective for whatever reason;
		(c)	the Securities Account is suspended or closed for whatever reason; or
		(d)	no securities remain in the Monthly Investment Plan as a result of the Bank exercising its right under Clause 1.04 of this Part.
	8.03	The Bank reserves the right to charge handling and/or administrative fees in connection with the termination of the Monthly Investment Plan.
	8.04	Upon termination of the Monthly Investment Plan for whatever reason, any securities comprised in the Monthly Investment Plan as at the date of termination will remain in one or more of the Securities Accounts maintained by the Customer with the Bank at the disposal of the Customer subject to the terms and conditions governing such Securities Accounts from time to time and payment of fees and charges prescribed by the Bank in connection with such Securities Accounts. The Bank is entitled to deduct any such fees and charges from any account maintained by the Customer with the Bank.