Nominated Bank Account
Any changes to the
nominated bank account must be provided in writing and authorized by
all parties to the original application form. For your protection,
we will not accept e-mailed instructions for changes to the
nominated bank account. Faxed instructions will only be accepted if
sent from an ANZ branch or from the office of a UDC registered
broker.
Resident Withholding Tax
The interest earned on UDC Secured Term Investments,
Capital Drawdown Option and the UDC Telephone Call Account is
taxable. The applicable withholding tax or levy will be deducted
before interest is direct credited or compounded. Please ensure that
you include your IRD number and preferred tax rate on the
application form. If no IRD number is provided, UDC is required to
deduct Resident Withholding Tax (RWT) at the
non-declaration rate.
If you are exempt from Withholding Tax, you must provide us
with both your IRD number and a copy of your Certificate of
Exemption.
Overseas Investors
If you are an overseas resident and
require either Non-Resident Withholding Tax (NRWT) or the Approved
Issuer Levy (AIL) to be deducted, UDC must be provided with your
full overseas address and a signed AIL application where applicable.
Correspondence may be sent to either your overseas address or to a
nominated New Zealand address.
Early Repayments
Any request for a
part, or full, early withdrawal of funds must be given in writing
and signed by all parties to the investment. An interest rate
adjustment will apply to investments that are partially or fully
repaid prior to maturity. Early repayments are at the discretion of
UDC and only one part repayment will be permitted, if necessary,
during the term of an investment. If a part repayment is required on
an investment with a term of less than one year or, within six weeks
of the maturity date, the investment must be fully withdrawn and a
new term negotiated for the remaining balance. If an early repayment
of SuperBonds is required, the full amount must be repaid - part
payments are not permitted.
Investor Identification
| Investor Type |
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| Individual & Joint Investors |
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A certified** copy of your Passport/New Zealand Drivers Licence.
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Company/
Partnership/
Trust
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A certified** copy of the partnership agreement or trust deed (as applicable); and
A certified** copy of the Passport/Drivers Licence for each Trustee, signing Director, signing Partner and Authorised Signatory.
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Incorporated /
Unincorporated Orgainisation
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A copy of the Meeting Minutes authorising the signatories; and
A certified** copy of the Passport/Drivers Licence for each signing Board member and Authorised Signatory.
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* These are our basic identification requirements and we may request additional information.
** The identification documents must be certified by one of the following authorised people:
ANZ / National Bank or UDC Officer
UDC Accredited Financial Adviser
Practising Accountant
Barrister or Solicitor
Notary Public
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Disputes Between Parties
In
the event of a dispute arising between the parties to a joint
investment, UDC may refuse to allow any changes to, or repayments
from the investment until all parties confirm in writing that the
dispute has been resolved.
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