"Account" - a junior ISA account governed by this Agreement and which is made up of a stocks and shares component only under the Regulations.
"Account Investments" - shares, cash and any other investments held in an Account.
"Account Manager" - iDealing.com Limited, who are responsible for administering your Account in accordance with the Regulations.
"Agreement" - the agreement between the client and iDealing for the provision of the service on the terms set out in the Conditions, these supplemental conditions, and incorporating the Application Form.
"Applicant" - a person defined by the Regulations as being eligible to make a JISA application.
"Application Form" - a JISA application form.
"Child" - The beneficiary of the JISA, as referred to in the Regulations.
"Conditions" - iDealing's Terms and Conditions as published and in force including the Schedule of Supplemental ISA Terms & Conditions and the Risk Warning Notices.
"JISA" - A junior ISA account as referred to in the Regulations.
"Regulations" - the Individual Savings Account Regulations 1998 as from time to time amended and in force.
2. Account Application
An application to open an Account must be made on an Application Form by an Applicant, which must be completed in full. Such application will be for the first relevant tax year in which it is received by us with a valid subscription and the applicant will not knowingly subscribe amounts to the account exceeding overall subscription limits applicable from time to time under the Regulations in any successive year.
The Account will be subject to these supplemental conditions as well as the Conditions and the Regulations.
As the Account is a junior ISA, you are responsible for making all the investment decisions.
If your Application Form is not completed in full, we will not open your Account and may return the form and any other documentation to you for amendment.
3. Account Transfers
It is possible to transfer existing JISAs with another manager to a stocks and shares JISA managed by iDealing. This can be done by registering for an Account and completing a Transfer Form. iDealing reserve the right to refuse transfers into our management.
Upon receipt of a signed Account Withdrawal Form an iDealing JISA may be transferred to another ISA manager.
4. Account Investments and Cash
As stated in our Terms & Conditions, we may not allow trading in certain investments not withstanding that such investments would otherwise be eligible as JISA investments.
You can only invest into qualifying investments in accordance with the Regulations. It is your responsibility to ensure that the investments you choose are eligible for inclusion in your JISA.
Any cash held in an account will be held on your behalf in a designated "Client Money" account with an approved bank(s).
Your Account includes your Account Investments and any cash balances, all income and other rights and proceeds.
Non-cash Account Investments will be registered in the name of a nominee; however, the relevant eligible child will remain the beneficial owner. Investments in a JISA account may not be used as security for a loan. No share certificates will be issued.
5. Cessation of Account
If you breach the Regulations or your JISA is otherwise in breach of the Regulations then you may lose tax benefits and your JISA may be voided.
In the event that your JISA is voided, the Account Manager will transfer the Account Investments to a Standard iDealing account or to you directly.
The Account Manager may deduct any charges or other amounts due to it, any tax liabilities under the Account and any additional expenses incurred in terminating or voiding the Account.
In the event of the Child's death the representatives of the estate must arrange to provide us with an original or certified copy (certified by a Solicitor, Commissioner for Oaths or Justice of the Peace) of the Child's Death Certificate in order for us to proceed winding up your JISA account.
No rights to withdraw or cancel your JISA apply.
6. Personal Data and Information
We reserve the right to refuse your application for an Account if we believe that any information provided by you is incorrect or if we believe that you or the named Child is not eligible.
You must provide us with the information referred to as mandatory on our Application Form. Your failure to do so will result in a delay in processing your application.
7. Charges
A copy of the latest Services and Prices can be viewed online at www.idealing.com.
All charges are subject to change at the discretion of the Account Manager.
8. Liability
Liabilities incurred by the Account Manager specifically in connection with your Account, which arise due to your breach of the Agreement (including the Regulations), shall be paid by you to the Account Manager upon the Account Manager providing details of the same, provided always that the Account Manager may only claim for its reasonable costs and expenses in connection with your breach.
The Account Manager is not liable for any loss caused through a fall in the value of Account Investments.
To the extent permitted by the rules of the FCA, the Account Manager accepts no responsibility for your Account until cleared funds are received, nor for any loss or delay caused in the payment or transfer of funds to the Account Manager.
For the purpose of this Clause references to you include your personal representatives and references to the Account Manager include its nominee(s) appointed in connection with the account.
9. Advice
We are unable to and therefore do not provide investment, tax or other advice. Any queries that you may have regarding investments, or whether a JISA is suitable for you, should be referred by you (or the named child beneficiary) to a professionally qualified financial advisor.
10. Regulations
These Supplemental JISA Terms & Conditions are based upon our understanding of the Regulations and applicable HMRC practice. These may change from time to time.
Your JISA is at all times subject to the Regulations, which, in the event of inconsistency, take precedence over this Agreement.
The iDealing JISA does not meet the Government's CAT standards.
In the event that the Account Manager delegates any of it's functions or responsibilities under this Agreement to another person then the Account Manager shall satisfy itself that such person is competent to carry out those functions or responsibilities.
In the event that there has been a failure to satisfy the provisions of the Regulations such that an JISA is or will become no longer exempt from tax by virtue of regulation 22(1) of the Regulations, then the Account Manager shall notify you.
Where the Regulations require, and subject to your paying a fee to be charged by the Account Manager, the Account Manager shall, if you so elect in writing to the Account Manager, arrange for you to (i) receive a copy of the annual report and accounts issued to investors by entities in which you have JISA investments, (ii) attend meetings of investors in entities in which you have JISA investments, (iii) to vote, or (iv) to receive any other additional information issued to investors by such entities.