Terms and Conditions - Police Mutual Premier Cash Account

Definitions

• 1.1 The "Bank" means Anglo Irish Bank Corporation plc, its successors, assigns and transferees.
• 1.2 "Deposit or Deposits" means the sum (or sums) of money deposited with the Bank in the Account.
• 1.3 The "Account Holder" is the person(s) in whose name the Account is maintained.
• 1.4 The "Applicant" is the Account Holder in the case of a sole account or each individual person in the case of a joint account.
• 1.5 The "Account" is the Police Mutual Premier Cash Account.
• 1.6 "Review Date" is the date on which the interest rate is set on the Account from time to time.
• 1.7 The "Act" is the Data Protection Act 1998.
• 1.8 The "FSA" is the Financial Services Authority.
• 1.9 Police Mutual consists of Police Mutual Assurance Society Limited, Police Mutual Insurance and Financial Services Limited, and Police Mutual Financial Services Limited.
• 1.10 The "Application Form" is the document completed by the Account Holder to enable the opening of this Account.

Deposit

• 2.1 The minimum deposit is �1 per Account.
• 2.2 The maximum deposit is �2,000,000 per Applicant.
• 2.3 Cheques received to open an Account and additions to the same account will earn interest from the second business day following the date of receipt of the cheque. The general UK clearing cycle is three working days. These funds are available for withdrawal from the account on the sixth business day after receipt of the cheque subject to the notice period as set out in clause 5.2.

Interest

• 3.1 The rate earned on the Account is variable and will be adjusted on the review date. The interest rate will be at least equal to the Bank of England's Base Rate until 1st January 2009. If the rate is changed we will notify you within three working days of the change by notice on our website and also by advertisement in two or more newspapers with national circulation. You will also be advised of the rate change in your annual statement. Details of applicable rates are available by phoning 0845 045 2626.
• 3.2 Interest is calculated each day based on the cleared balance in the Account using the then prevailing interest rate.
• 3.3 Interest is paid to the Account annually on the 31st March or if not a working day on the next business day in England and Wales.
• 3.4 Interest will normally be paid net of income tax at the appropriate rate or, subject to receipt of a valid declaration of eligible non-taxpayer status (Form R85, available on request), interest will be paid gross.

Lodgements

• 4.1 Initial lodgements should be received by cheque, electronically via BACS or from Police Mutual as a result of the maturity of a Police Mutual policy. Cheques should be made payable to Anglo Irish Bank Corporation plc and the name in which your account is held e.g. Anglo Irish Bank - John Smith.The cheque must be drawn on a UK bank or building society in the name of the Account Holder. For joint Accounts a personal cheque drawn on the Account Holders' own current account which must be drawn on a UK bank or building society account. Alternatively, two cheques can be accepted (one from each applicant). BACS payments will only be accepted provided the ordering customer is the same as the Account Holder.
• 4.2 If an Account Holder does not have a current account we will accept a Bankers Draft drawn on a bank or building society on provision of a certified copy of the Applicant's current driving licence or passport and an original recently dated statement from the account where these funds originated. The bank can accept same day payments (CHAPS) or three day electronic payments (BACS) if the transfer is made by the named account holder.
• 4.3 Additional lodgements can be made by cheque or electronically. Cheques should be made payable to Anglo Irish Bank Corporation plc and the name in which your account is held, e.g. Anglo Irish Bank � John Smith. The ordering customer quoted must be the same name as your Account with us.
• 4.4 No lodgements are permitted from any third party accounts.
• 4.5 You must keep a record of all cheques deposited. If you do not, we may not be able to help you if any cheques become lost.
• 4.6 We reserve the right to refuse any lodgements into the Account at any time at our sole discretion.
• 4.7 Where lodgements are being made by cheque they should be sent to our Freepost address as set out in clause 21.2.

Withdrawals

• 5.1 Withdrawals will be provided from your Account on teleauthorisation by calling our Personal Deposit Team on 0845 045 2626 or in writing to our Freepost address as set out in clause 21.2. We will issue a cheque payable to the Account Holder, or pay electronically to the bank account from which the initial funds to the Account originated.
• 5.2 Five days notice will be required per withdrawal transaction. Where no notice of withdrawal is given, a charge will apply. This charge is equivalent to five days' interest on the amount withdrawn and is calculated using the interest rate prevailing on the Account at the date of withdrawal. Where notice of less than five days is given, the charge will be reduced to reflect the actual number of days' notice given.
• 5.3 On the death of a sole Account Holder the capital value of the Account and the interest accrued is payable, without notice or loss of interest, to the deceased personal representatives.
• 5.4 On the death of a joint Account Holder, the capital value of the Account and accrued interest will be payable to the survivor without notice or loss of interest, or the survivor may elect to have the Account invested in his name or in the name of the surviving Account Holder held at a UK Bank or Building Society from which funds have been paid into this Account in the past. Confirmation of the death of a customer and any third parties acting on behalf of the deceased will need to be notified to the Bank with full supporting documents. For further advice, please call the Personal Deposit Team on 0845 045 2626.
• 5.5 Withdrawals using a Standing Order or Direct Debit facility are not available with this Account.
• 5.6 No payments will be permitted to third parties.

Teleauthorisation facility

• 6.1 Telephone withdrawals will only be permitted to the Bank or Building Society account from which the initial funds originated, or if opened initially as a result of the maturity proceeds of a Police Mutual policy to the bank account detailed on the Application Form, or by cheque to the Account Holder and only then if we are satisfied that our security conditions detailed below, are satisfied fully.
• 6.2 The security conditions are that, at our request, you must identify the appropriate letters we may ask you from your nominated password. Failure to comply with our request satisfactorily will result in access to your funds via the teleauthorisation facility being denied.
• 6.3 If you wish to amend your bank details for withdrawals, i.e. you have closed the account that the initial funds came from you must confirm this request in writing and provide us with an original and recently dated bank statement for this new nominated account. This account must be in the name of the Account Holder. At the sole discretion of the Bank, additional identification may be requested.
• 6.4 For joint accounts authorisation from only one party is required to make a withdrawal. This agreement has been authorised by you as part of the Declaration on the Application Form.
• 6.5 Telephone calls made between you and us may be recorded or monitored for training or security purposes.
• 6.6 If for any reason you believe that another person knows or is likely to know your nominated password, it is critical that you advise the Bank immediately by calling the Personal Deposit Team on 0845 045 2626. The Bank will immediately suspend this service on your Account for your protection until the new nominated password has been provided by you in writing to the Bank at the address given in clause 21.2 below.

Identification

• 7.1 In order for the Bank to comply with the requirements of the FSA, the Bank's financial regulator in the UK, and as an integral part of prudential management to protect the Bank and its customers, the Bank ensure its full compliance with all laws and regulations.
• 7.2 Customers opening accounts are required to provide one original of the following for each Applicant showing their current address.
• • Inland Revenue Notice of Tax Coding for the current tax year. Please note Self-Assessment forms, P45s and P60s are not acceptable.
  • Gas, Electricity, Water and/or Telephone (not mobile phone) bill received within the last six months at your current address
  • Council Tax Bill for the current tax year for your current address
  • Bank or Building Society statement or confirmation received within the last three months at your current address.
• 7.3 If an Applicant does not have a current account in their name the Bank will accept a Bankers Draft drawn on a UK bank or building society on provision of a certified copy of your driving licence or passport and an original and recently dated statement from the account where these fund originated. Where a certified copy of a document is required, the copy of the document should be certified by a UK lawyer, banker, accountant or by a police officer independent of the Applicant. The name and telephone number of the person certifying should be written on the copy document and the words "A true copy of the original and a true likeness".
• 7.4 Further, due to changes in identification requirements there are additional checks to prove identity. In order to carry out these checks you will be asked to provide your home, mobile and business telephone numbers on the application form. For withdrawals and transfers from one account to another, the Bank, at its sole discretion, may also request suitable and additional means of proof of identity which may include original or certified copies of your passport or original or certified copies of your driving licence.
• 7.5 In the event that the documentation provided is not sufficient to verify the identity of the Applicant, the Bank may, at its sole discretion, delay processing your application and lodging your cheque until such time as the requested information is provided. If your application is processed but you have not provided the required documentation, then withdrawals will not be permitted from the Account until you have provided the relevant documents.

Change of original details supplied on the Application Form

• 8.1 You must inform us in writing if you change your name, your address or if there are any other changes relevant to your Account.

Statements, Confirmations and Interest Certificates

• 9.1 The Bank issues to the Account Holder a statement annually in April reflecting all transactions since the last statement or the opening of the Account, including interest paid and tax deducted (where applicable). If an Applicant to a joint Account requires a statement to be sent to a separate address, this request should be sent in writing to the Bank at the address given in Clause 21.2 below.
• 9.2 Confirmations are issued for all payments and receipts.
• 9.3 Interest Certificates for tax purposes are available on request.
• 9.4 We recommend that you check your statement or confirmations. If you believe there is an entry or detail which seems to be incorrect on your Account please contact the Personal Deposit Team on 0845 045 2626 to get the matter resolved.

Taxation

• 10.1 Subject to the required Inland Revenue certification, interest may be paid gross. The Inland Revenue form R85 is available from the Inland Revenue website (http://www.inlandrevenue.gov.uk/menus/otherforms.htm) or by contacting the Personal Deposit Team on 0845 045 2626. In the absence of valid certification, interest will be paid after deduction of tax at the basic rate, currently 20%, which may be reclaimed from the Inland Revenue by non-taxpayers.
• 10.2 In the case of joint Accounts interest may be paid entirely gross without deduction of tax, provided, all Account Holders provide the Bank with a valid R85 certificate.
• 10.3 For joint Accounts with no more than two Applicants, interest may be paid half net and half gross where only one Applicant is eligible to certify to receive gross interest. In other circumstances interest will be paid entirely net. The net rates shown in the Bank's investment literature and promotional material are illustrative assuming tax at the current applicable rate of 20% for basic rate tax.

Joint Accounts

• 11.1 Joint Accounts are opened based on the requirement by the Bank that only one Applicant�s instruction is required to operate the account. Therefore, one Applicant could withdraw all the funds in the Account without the knowledge of the other Applicant. Upon the death of an Applicant the funds will be deemed to be owned by the surviving Applicant upon the provision of a death certificate of the other Applicant. Joint ownership may continue through divorce, separation or dispute between the parties. Variation of ownership can be achieved by mutual written agreement between the parties or by order of a court.
• 11.2 In the event of the Bank becoming aware of a dispute, separation or divorce and in the absence of mutual written agreement between the parties or order of a court, the Bank will require authorisation in writing signed by both Applicants for any future transactions unless the instructions from both Applicants permits the continued operation of the Account on the signature of one Applicant. However, if a party to a joint account wishes to freeze the proceeds of the account it is necessary to provide a written request to the Bank to this effect.

The Banking Code

• 12.1 The Banking Code is a voluntary code followed by banks and building societies in their relations with personal customers in the U.K. The Code, which the Bank subscribes, sets out standards for banks and building societies to follow in their dealings with customers. Account Holders requiring a copy of the Banking Code can obtain it from the Banking Code Standards Board (www.bankingcode.org.uk) or from the Bank.
• You may find the following website useful - British Bankers Association - www.bba.org.uk

The Financial Services Compensation Scheme

• 13.1 The Bank is a participant of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to a maximum of �35,000, which is 100% of the first �35,000 of an Account Holder's total deposits with the Bank.

Data Protection Act 1998

• 14.1 The Bank complies with the Data Protection Act 1998 in relation to the processing of information about you. The Act provides that upon payment of a fee you are entitled to receive details of the information that we hold about you.
• If you wish to request access to this information, please write to: The Data Protection Officer, Anglo Irish Bank Corporation plc, FREEPOST LON21430, London, EC2B 2QB.
• 14.2 Telephone calls to the Bank may be recorded for your security and for the purpose of staff training.

What to do if you have a complaint

• 15.1 Occasionally, situations arise where customers may wish to express their views on the Bank's products and service.
• If you are dissatisfied with the service you have received, you should contact the Personal Deposit Team on 0845 045 2626 and discuss your views and concerns.
• We will always try to resolve your complaint immediately. However, if that is not possible, or upon request, we will acknowledge your complaint in writing. Full details of our Internal Complaints Procedure are available upon request from The Compliance Officer, Anglo Irish Bank Corporation plc, FREEPOST LON21430, London, EC2B 2QB. If we cannot resolve your complaint to your satisfaction you have the right to refer the matter to the Financial Ombudsman Service.

Recognition of Other Interests and Claims

• 16.1 We do not have to recognise the interest or claim of any person other than the Account Holders in respect of money held in any account, nor will we be liable in any way for failing to recognise such interest or claim, except as required by law.

Cooling off

• 17.1 If, within 14 days of your opening investment you decide that the type of Account you have opened is not appropriate for you, the Bank will, on being advised by you, return your Deposit to you without penalty provided that any cheque or funds you have paid to the Bank has met our clearance period.

Account Availability

• 18.1 The Account is only available for personal investors over the age of 16 on a sole or joint basis, with no more than two parties on a joint Account. The Account must not be used for business purposes. All Account Holders must be UK resident(s) at the time of opening the Account and throughout the duration of the Account's existence. The Account is only available to members of Police Mutual.

Exclusions of our Liability to you

• 19.1 We shall use our reasonable endeavours to ensure that the teleauthorisation service is available during normal business hours on a working day but we shall not be held liable for any loss or damage caused by the failure of any systems beyond our control.
• We shall not be liable for any loss you suffer due to any omission, error or inaccuracy in the information or instruction you give to us.

Closure of the Account for additional funds

• 20.1 The Bank may, at its sole discretion, determine that the Account is no longer available for the addition of further funds by the Account Holder. The Bank will give the Account Holder at least 30 days notice in writing of such an event. The Bank will advise the Account Holder of other suitable products where these are available.

Communication with the Bank

• 21.1 You may contact the Bank by telephone by calling our Personal Deposit Team on 0845 045 2626.
• 21.2 If you wish to instruct us in writing please write to:
• Anglo Irish Bank, FREEPOST LON21430, London, EC2B 2QB
• This is a free service and no postage is required on your envelope.

Governing Law

• 22.1 The Account and Terms and Conditions will be governed and interpreted in accordance with English Law.

Alteration of Terms and Conditions

• 23.1 The Bank reserves the right to vary these Terms and Conditions if there is any relevant material change in the prevailing legal, tax or regulatory conditions during the term. If there have been any significant changes in any one year, the Bank will send a copy of the new Terms and Conditions, or a summary of the key changes to Account Holders with the annual statement.

Registered Office

• 24.1 The registered office of the Bank in the United Kingdom is Anglo Irish Bank Corporation plc, 10 Old Jewry, London, EC2R 8DN.

Date of Issue and Effective Date

• 25.1 These terms and conditions are issued on 1st October 2007. They are effective immediately for both existing Account Holders and new customers.

• 1st October 2007