Introduction

If You are an investor and wish to gain access to this Service please read the following terms and conditions (“this Agreement”) carefully. By using the Service, You are deemed to accept this Agreement, as a binding contract between You and Legal & General (Portfolio Management Services) Limited regarding Your access to and use of the Service. These terms and conditions, as varied from time to time in accordance with clause 13 are referred to as the "Agreement".

If You do not understand any part of this Agreement, please contact Your Adviser or call our UK contact centre on 0845 272 0089. Call charges will vary. We may record and monitor calls. Lines are open Monday to Friday, 9.00am to 5.30pm.

1. Definitions

In this Agreement the following expressions shall have the following meanings, unless inconsistent with the context:

Expression Meaning

“Adviser” means those employees of Legal & General and its Group Companies who will be available to provide advisory services to You in accordance with the terms of this Agreement.

"Authorised User" an investor who has registered and been accepted by PMS to use the Service and has been supplied with a user password.

"Computer environment" any computer or network of computers used by an Authorised User to access the Service.

"Content" certain material and information (including material and information relating to the Products) from time to time appearing on the Service and made available to You under this Agreement as a read-only viewing function to enable You to check Your valuations and transaction history online.

“Group Company” or “Group Companies” means in relation to PMS, any subsidiary companies or undertakings of PMS, any holding companies of PMS and any subsidiary companies or undertakings of such holding companies;

“IPS” means Investor Portfolio Services.

“ISA” means Individual Savings Account.

“Key Features Documentation” means the Legal & General Portfolio Investments General Key Features and the Legal & General Portfolio Investments Key Features Fund Supplement as amended and updated from time to time by PMS and/or a Group Company, which are accessible via the Service.

"Links" hypertext links from this Service to other Third Party Sites or where expressly referred to in this Agreement, hypertext links from Third Party Sites to this Service.

“OEIC” means Open Ended Investment Company.

"PMS" means Legal & General (Portfolio Management Services) Limited, a company incorporated in England and Wales with registered number 2457525 and whose registered office is at One Coleman Street, London EC2R 5AA.

“Products” refers to the three available Products, namely UT/OEIC/ISA, Portfolio Bond and Portfolio Plus Self-Invested Personal Pension.

"Security Details" details used to log into the Service, as an Authorised User.

“Service” the Website provided by PMS under the domain name, for example, www.onlineIPS.co.uk, and the facilities provided by PMS through this Website, or such other website as PMS may notify You from time to time.

“Service Disruption Event" a factor outside the control of PMS including, without limitation, the in-operation, or interruption of the Internet or other telecommunication services.

“Switch”, “Switches” or “Switching” means the facility, where made available to You, that allows You to electronically instruct PMS, on an execution-only basis, to Switch investments held in Unit Trusts or OEICs, including when these investments are held within an ISA. This is subject to our standard dealing process through the Service as detailed in the Key Features Documentation.

"Third Party Sites" any websites other than the Service.

“UT/OEIC/ISA” means:

(a) a Unit Trust investment; and/or

(b) an OEIC investment, and/or

(c) a Unit Trust investment and/or an OEIC investment held within an ISA.

“We”,” Us” or ”Our” means PMS.

“Website” means www.onlineIPS.co.uk

"You”,” Your" or "Yourself" means you, the investor, who has accessed the Service under this Agreement.

2. Registration & Data Protection

2.1 In order to register for the Service You will need to provide Your e-mail address. Your e-mail address will be used by PMS purely for the following purposes:(a) Registration and password reminder.(b) Communications concerning the operation of this Service or any other product or service You have with Us.

2.2 PMS will use any other information You supply for the administration and servicing of Your investments and all other related activities. We may disclose Your information to our agents and service providers for these purposes. We may also disclose Your information to organisations for compliance with legal and regulatory requirements.

2.3 With the exception of the above provisions, we will not pass on Your details to any other third party without Your permission, but we will disclose information concerning Your investment to Your Adviser.

2.4 PMS may transfer Your information to countries outside the EEA for the servicing of Your investments. In such cases, contracts will be put in place to ensure that the service providers protect Your information in accordance with the requirements of the Data Protection Act.

2.5 PMS complies with its obligations under the Data Protection Act 1998 relating to the holding of personal data. Any information collected as part of the registration process which was not previously held by Us will only be used by PMS in relation to the management of this Service and for no other purpose. Information which is already held will continue to be used in accordance with the terms and conditions You signed up to when You provided the information to Us.

2.6 You have the right to request a copy of the personal data we hold on You in return for the payment of a small fee and to require us to correct any inaccuracies in the personal data.

3. Online Investor Service

3.1 Once You have accepted the terms and conditions of this Agreement, You will be entitled to access the Content and conduct Switching where made available to You in accordance with this Agreement. PMS will then make the Content and Switching (if relevant) available to You through the Service. Your right to use and have access to the Content and conduct Switching will continue until this Agreement is terminated in accordance with clause 12 of this Agreement.

3.2 There is no specific time limit applying to Your access to the Service and PMS will use reasonable endeavours to make the Service available for access at all times. Access to the Website may, however, be suspended from time to time for maintenance and development work.

3.3 PMS do not currently make a charge for:

3.3.1 accessing the Service; or

3.3.2 viewing the Content but reserve the right to do so in the future, which You shall be given notice of prior to accessing the Service or viewing the Content.

3.4 Switching charges are set out in the Key Features Documentation.

4. Execution-Only Terms and Conditions of Business

4.1 The IPS Platform is offered and managed by PMS which is authorised and regulated by the Financial Services Authority.

4.2 PMS reserves the right to refuse to conduct business with any Authorised User at its sole discretion and is not required to supply any information as to the reason.

4.3 PMS does not offer advice or recommendations to Authorised Users, when Authorised Users are using this Service, but arranges Switches of investments held in Unit Trusts or OEICs, including when these investments are held within an ISA, on behalf of Authorised Users on an execution-only basis.

4.4 Execution-only transactions are carried out on the electronic instructions of the Authorised User and PMS has not given advice nor exercised any judgement on the Authorised User’s behalf as to the merits, risks, tax consequences, use of trusts, or suitability of the transaction for the Authorised User. PMS has no intention of providing any advice when the Authorised User is using this Service. If the Authorised User has any doubt as to the suitability of a product or service, the Authorised User should seek a personal recommendation from an authorised and regulated adviser.

4.5 The capital value of investments and the income from them can go down as well as up and an investor may not get back the amount invested. Prospective investors should be aware of the underlying risks associated with investing in shares listed on certain stock markets whose price depends on fluctuations in the financial markets outside PMS’s control. The value of shares may rise or fall due to changes in the rate of exchange in the currency in which the funds are denominated if it is different from the investors' own currency. Past performance is not a reliable indicator of future results. If You have any doubts at all about investing You should consult a financial adviser.

4.6 PMS accepts no liability to Authorised Users who purchase ISAs in a manner which does not comply with ISA rules.

4.7 PMS will categorise Authorised Users as retail clients, unless a different categorisation has been specifically given to, or agreed with, Authorised Users in writing by PMS.

4.8, Fund Prospectus, UT/OEIC/ISA Terms and Conditions, and the Managers' Report and Accounts can be obtained on request from:

Legal & General Group Plc
The Investor Portfolio Service
PO Box 1112
Chelmsford
CM99 2UX

5. Use of content

All Content belongs to PMS, or its licensors and is protected by copyright law. You may retrieve Content from the Service for display, or print Content on paper (but not make photocopies) and store Content in electronic form on disk or computer hard drive (but not on any server or other storage device connected to a network), though only for Your personal, non-commercial use.

6. Trademarks

Copyright, trademarks, database rights, patents and all similar rights in the Website and the information contained in it are owned by or licensed to PMS and/or any Group Company, or are owned by third party providers. You may use the information on this site and reproduce it in hardcopy for Your personal reference only. The information may not otherwise be reproduced, distributed or transmitted to any other person or incorporated in any way into another database, document or other material. Any copy of materials which You make from the Website must retain all copyright or other proprietary notices and disclaimers contained therein. Trade names referred to in this Website are trademarks owned by or licensed to PMS and/or any Group Company or are owned by the relevant third party providers. Nothing on this Website should be considered as granting any licence or right under any trademark of PMS and/or any Group Company or any third party.

7.Security

7.1 Once You have registered for the Service and accepted the terms and conditions of this Agreement You will become an Authorised User and will be able to use Your Security Details to access the Website.

7.2 You must keep Your Security Details secret and take all reasonable precautions to prevent unauthorised or fraudulent use of them.

7.3 You must not disclose Your Security Details to any other person or record Your Security Details in any way that may result in them becoming known to another person.

7.4 Please note that after initial registration we will never contact You, or ask anyone to do so on our behalf, with a request to disclose Your Security Details in full. If You receive any such request from anyone (even if they are using our name and logo and appear to be genuine) then it is likely to be fraudulent and You must not supply Your Security Details to them in any circumstances. In the first instance You should report any such requests to us as soon as possible by calling our UK contact centre on 0845 272 0089. Call charges will vary. We may record and monitor calls. Lines are open Monday to Friday, 9.00am to 5.30pm. You shall treat such report as confidential and not disclose any information in relation to it to any third party (including the person to whom such report relates).

7.5 If You suspect someone knows Your Security Details You must contact us as soon as possible by calling our UK contact centre on 0845 272 0089. Call charges will vary. We may record and monitor calls. Lines are open Monday to Friday, 9.00am to 5.30pm. If You fail to do so, You will be liable for any unauthorised Switching on Your account confirmed by use of the Security Details.

7.6 Where Switching on the account is confirmed by use of the Security Details and the Service, but You subsequently show that is was not authorised by You, You will not be liable for that Switch provided You have kept Your Security Details secret, You have acted with reasonable care and in accordance with this Agreement, and You have not acted fraudulently.

7.7 You will be responsible for all Switching instructions that are received by us between the time You pass the security procedure until You exit from the Service. Please note that this includes any input errors, or instructions sent by someone other than Yourself so please do not leave the device You are using to access the Service unattended while You are still logged onto the Service.

8. Switching

8.1 Before using the Service to access the Content or conduct Switching, You agree to have read the Key Features Documentation. If there is any conflict between these terms and conditions and the terms of the Key Features Documentation, the terms of the Key Features Documentation will take priority.

8.2 Upon acceptance of Your Switching instruction, PMS will immediately provide You with a reference number as confirmation. It is important that You keep a record of this reference number, either by printing it directly off the Website, or saving it, as it represents evidence that Your electronic instruction has been received by PMS.

8.3 PMS accepts no liability for failure to carry out any Switching which You place using the Service, unless You can show that You have received a reference number confirming PMS acceptance for each and every instruction:

8.3.1 You will further notify PMS as soon as possible: if any aspect of the confirmation does not accurately reflect Your instruction; or if You receive a reference number, confirmation or contract note for an electronic instruction which has not been placed with Your Security Details.

8.3.2 If You fail to notify us as soon as possible in any of these circumstances, You will be deemed to have accepted the terms of the Switching as stated on the confirmation provided to You by us. You accept full responsibility for monitoring the Switching.

8.4 The following matters control the operation of Your PMS accounts and that the Service is provided subject to those matters:The Terms and Conditions of this Agreement. The Key Features Documentation which You have agreed to have read in accordance with Clause 8.1 of this Agreement. Any applicable instruments of incorporation, trust deeds, prospectuses and scheme particulars. All the applicable Rules and Regulations, including any updates or amendments.

9. Undertakings by you

9.1 You may not:

9.1.1 interfere or tamper with, alter, amend or modify the Content or Switching functionality of the Service, or any part of it;

9.1.2 copy or disassemble any of the software comprised in the Service; or

9.1.3 Attempt to do any of the above or permit any of the above to be done, in each case, except as necessary to use the Service in accordance with the provisions of these Conditions of Use or as expressly required, or allowed by law.

9.2 You may not reproduce, modify or in any way commercially exploit the Content. In particular, You may not do any of the following without the prior written permission of PMS:

9.2.1 Redistribute any of the Content, including by using it as part of any library, archive or similar service;

9.2.2 Remove any copyright or trademark notice from any copies of the Content.

9.3 You are responsible for ensuring the security of the computer environment from which You access the Service.

9.4 You will ensure that any information You provide to PMS in connection with the use of the Service is to the best of Your knowledge complete, accurate and up-to-date.

10. Links

10.1 The Service may contain Links to, and from, Third Party Sites, over which PMS has no control. The provision of a linked site is not evidence of any endorsement by us of the material held there. PMS do not accept any responsibility for information contained in Third Party Sites, or any link contained in a linked site, or for any material when You leave this Website (whether knowingly, or not). Companies independent of PMS, who may not be regulated to conduct investment business, have produced the information and services offered within these Third Party Sites.

10.2 Where possible, PMS will make it clear where Links to Third Party Sites are being made, though Third Party Sites may be co-branded with PMS and so include PMS trademarks.

10.3 Any information, views or opinions accessed via Links from the Service are solely those of the relevant provider and are not necessarily shared by PMS. As such, PMS accepts no responsibility.

11.Limitation of liability

11.1 PMS use reasonable skill and care in selecting the providers of the Content and providing secure access to the Content and Switching. Due to the inherent nature of the Internet, however, and the number of sources from which PMS obtains the Content, PMS does not give any warranties, express or implied, or make any representations as to the accuracy, adequacy or ability to access, or any delay in access, security of access, suitability or security of use of any Content.

11.2 PMS does not accept any responsibility and will not be liable for any failure in the operation of the Service, which arises as a result of any error in data transmission, or machine, or software malfunction, or from Your operating error (other than any such failure arising as a result of PMS negligence, fraud, or wilful default).

11.3 You acknowledge that a Service Disruption Event may prevent Your uninterrupted access to the Service. Non-performance by PMS of its obligations under this Agreement will not amount to a breach of this Agreement, where such non-performance results directly or indirectly from a Service Disruption Event.

11.4 PMS make no warranty, or representation that the Service can be accessed at all times. The Service, or any part of it may be temporarily unavailable, or restricted for administration, or other reasons. Save where required to do so by law, PMS does not accept any responsibility and will not be liable for any loss arising out of, or in connection with, the unavailability of the Service or withdrawal of any part of it.

11.5 PMS accepts no liability for any problems that may arise as a result of any downloaded software. If You are in any doubt, we recommend that You take specialist advice before downloading as any software download is conducted entirely at Your own risk.

12. Termination

12.1 PMS may terminate Your right to use the Service to access and use the Content and conduct Switching at its absolute discretion by giving You 60 days prior written notice at any time.

12.2 PMS may terminate Your right to use the Service to access and use the Content and conduct Switching at its absolute discretion by giving You notice which will be effective immediately if:

12.2.1 You are in breach of the terms of this Agreement; or

12.2.2 the agreement with the hosting provider of this Website terminates.

12.3 You may terminate Your right to use the Service by giving notice in writing to PMS at the following address:

Legal & General Group Plc
The Investor Portfolio Service
PO Box 1112
Chelmsford
CM99 2UX

Upon receipt, Your written instruction will be processed without undue delay.

12.4 On termination of this Agreement, Your right to access the Content and conduct Switching, if relevant, will cease.

13. Variation

13.1 PMS reserve the right to vary the terms of this Agreement from time to time by posting an amended version of this Agreement on the Service, which You shall be given notice of prior to accessing the Content or conducting Switching.

13.2 We may, where we consider it appropriate for You or Your protection, suspend, withdraw or restrict the use of the Service, or any part of it. We will tell You as soon as practicable if we take such action.

13.3 You will be able to access this Agreement via a link from each page on the Service showing the date this Agreement was last updated. Please revisit this Agreement from time to time to check for changes. Use of the Service implies Your acceptance of the current Conditions of use for the Service.

14. Complaints or queries

14.1 For further information or if You wish to complain about any aspect of the service You have received from PMS, please contact us at:

Legal & General Group Plc
The Investor Portfolio Service
PO Box 1112
Chelmsford
CM99 2UX

14.2 Alternatively You can also call our UK contact centre on 0845 272 0089. Call charges will vary. We may record and monitor calls. Lines are open Monday to Friday, 9.00am to 5.30pm.

14.3 Complaints we cannot settle can be referred to the Financial Ombudsman Service.

The address is:

The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR

Telephone: 0845 080 1800
Website: http://www.financial-ombudsman.org.uk/

15. Notices

15.1 Any notices to be given under this Agreement will be in writing and sent to the address of the recipient as set out below:

15.1.1 PMS Address:

For the attention of: Customer Services Manager
Legal & General Group Plc
The Investor Portfolio Service
PO Box 1112
Chelmsford
CM99 2UX

15.1.2 Authorised User Address: The address provided by the Authorised User in the PMS registration forms, unless subsequently updated by notifying PMS in accordance with this clause 15.

15.2 Any such notice may be delivered personally or by prepaid letter, telex or fax and shall be deemed to have been served if by hand when delivered, if by post 72 hours after posting and if by telex or fax when despatched (on production of the relevant confirmation/transmission report).

16. Waiver

The failure, or delay by a party, to enforce any obligation under this Agreement is not a waiver of that right nor will it bar enforcement of that obligation (or any similar or other obligation) at that time or at any subsequent time.

17. Severance

If any clause or part of this Agreement is found by any court, tribunal, administrative body or authority of competent jurisdiction to be illegal, invalid or unenforceable then that provision shall, to the extent required, be severed from this Agreement and shall be ineffective without, as far as is possible, modifying any other clause or part of this Agreement and this shall not affect any other provisions of this Agreement which shall remain in full force and effect.

18. Governing law and jurisdiction

This Agreement shall be governed by and construed in accordance with English law and the parties agree to submit to the non-exclusive jurisdiction of the English courts.

Last updated 10th November 2008.

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