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KEY DEFINITONS

In these Terms and Conditions:

“Adviser” means your financial planner, investment adviser, accountant, authorised representative, Australian Financial Service Licensee or other person nominated by you as your Adviser in your Application Form. You can nominate or change your nominated Adviser by writing to Rivkin Super.

“Agreement” means the signed Application Form and the Terms and Conditions

“Annual Period” is the period starting from July 1 (any year) until June 30 (the following year).

“Application Form” means the Rivkin Super Application Form (New Fund or Existing Fund) as completed and signed by you.

“Cash Account” means a Macquarie Cash Management account, a BankWest Cash Management Trust, or a BankWest Money Market Account, in the name of the fund.

“Fund” means the self managed superannuation fund to which you are a member and which is utilising the Service.

 “Reasonable Time” means what a reasonable person would take to be an appropriate amount of time and within the regulatory lodgement date requirements.

“Rivkin Report” means the financial research service offering general financial advice, provided by Tarfaya Nominees Pty Ltd (ACN 001 350 634, AFSL 247373), and where the context requires, its employees and agents.

“Rivkin Super” means Rivkin Securities Pty Ltd (ACN 123 290 602, AFSL 332 802) trading as Rivkin Super, and where the context requires, its employees and agents.

“Service” means the Rivkin Super Service which is an administration service for regulated self managed superannuation funds provided by Rivkin Super.

“SIS Act” means the Superannuation Industry (Supervision) Act 1993 (Cth).

 “Trust Deed” means the trust deed establishing the Fund and governing its operation.

“Trustee (/s)” means an individual trustee or a corporate trustee.

“Terms and Conditions” means the terms and conditions of the Service.

“Timely manner” means ten (10) days following the end of a quarterly period of time.

“you/your” means the trustees of the Fund (in their personal capacity and as trustee of the Fund) as identified in the Application Form or as amended from time to time, but also includes any Fund member or person using the Service on the Fund member’s behalf and with the Fund member’s authority.

“Variation” means Rivkin Super may, at any time, change either the fee structure or Terms and Conditions

  

(a) Rivkin Super is the facilitator and administrator of a compliance Service, exclusively for self managed super funds.

(b) The Service includes end of financial year accounting and auditing, an annual tax return and a discretionary quarterly report. The Service also includes the Rivkin Report at no extra charge. Rivkin Super does not offer personalised investment or accounting advice.

(c) Rivkin Report does not accept any liability in respect of the Service and does not guarantee the provision of the Service. In the event that Rivkin Super is not legally able to lodge a client’s tax return, Rivkin Super will engage a third party to lodge the tax return at no extra cost to the client.

(d) Rivkin Super will provide the Service to you during the term of this Agreement in accordance with these Terms and Conditions.

(e) Rivkin Super will charge you, and you agree to pay Rivkin Super, the fees for providing the Service to you in accordance with the fees outlined in the Application Form, or as updated from time to time at www.rivkinsecurities.com.au

(f) Rivkin Super will, in addition to an annual report, provide you with quarterly reports. Rivkin Super’s ability to provide a quarterly report is determined by you providing the required documentation in a timely manner, where necessary. If you cannot or do not provide these documents in a timely manner, Rivkin Super reserves the right not to produce the reports and will not be liable for not producing these reports.

 

You agree that:

(a) these Terms and Conditions govern your access to the Service;

(b) if applicable, you will have appropriate computer systems, hardware, software and internet access to allow your access to the Service;

(c) if applicable, Rivkin Super takes no responsibility for you obtaining or maintaining the appropriate computer based systems so you can access the Service;

(d) Rivkin Super cannot guarantee continuous uninterrupted access to the Service and that, despite their reasonable efforts, access may be temporarily interrupted or permanently cease due to force majeure events partially or completely outside their reasonable control, and should such an event occur, Rivkin Super does not accept responsibility or liability to you or any other person for your inability to access the Service during the downtime;

(e) you will use the Service only if permitted by Rivkin Super and for legitimate purposes, and you will not copy or otherwise interfere with or damage any part of the Service including any code, data or software, and you will not attempt to do any of those things, and you will tell Rivkin Super immediately in writing if you become aware of any other person’s attempt to do any of those things;

(f) Rivkin Super exclusively owns the right to distribute the Service and the intellectual property rights in the Service and you will not do anything to challenge or diminish those rights or to in any way use those intellectual property right in any way other than as expressly permitted by this Agreement;

(g) if applicable, you are responsible for keeping confidential and secure the User Name and password that Rivkin Super provide you to access the Fund’s information and also the Fund’s information that you extract from the Service; and

(h) your Fund will not accrue Rivkin Frequent Trading Points, or alternatively, Frequent Trading Points cannot be redeemed with the Rivkin Super product.

 

3.       YOUR OBLIGATIONS

You acknowledge and agree that:

(a) the Fund is under your control as trustee of the Fund, and as Rivkin Super has no authority to deal with the Fund’s assets without your express consent, you will cooperate with Rivkin Super's directions and requests so that Rivkin Super can reasonably provide the benefits of the Service to you;

(b) the Fund (and any of its activities) will be in compliance with the Fund’s Trust Deed and all applicable law including the SIS Act;

(c) you will open and/or maintain a Cash Account that must only be used for transactions relating to the Fund and will not be used for personal banking services;

(d) you will deposit or retain sufficient funds in the Cash Account to pay regular outgoings including Rivkin Super fees and charges under this Agreement which are debited on a monthly or annual basis and any extraordinary fees payable to external service providers who Rivkin Super engage on your behalf with your prior approval, such as legal or actuarial fees;

(e) Rivkin Super are authorised to deduct their fees for Service directly from the Cash Account;

(f) you will assist Rivkin Super by, within a reasonable time and without any unnecessary delay, providing Rivkin Super with any other documents or information that Rivkin Super may reasonably request from you that is necessary for Rivkin Super to provide the Service to you;

(g) you will ensure that each investment of the Fund pays any income or redemptions relating to that investment directly into the Cash Account;

(h) you will advise Rivkin Super if funds are removed from the Cash Account or deposited into the Cash Account for any reason other than in accordance with this Agreement;

(i) you will provide Rivkin Super with the Fund’s current written investment strategy and you will ensure that the Fund’s investments are made in accordance with that strategy;

(j) if you have requested Rivkin Super to prepare a report of any nature or a report is included in the Service, you are not entitled to that report, including any reports required by all the authorises in relation to superannuation funds, unless at all times during the preparation of the report (which may take up to or exceed 90 days after the end of the date of the report for all necessary information to be obtained), you remain a Rivkin Super client, have paid all your fees and performed your obligations under this Agreement and the Agreement remains in full force and effect.

(k) Rivkin Super are authorised to:

     i. deduct automatically from the Cash Account their fees and charges payable under this Agreement; and

     ii. deduct from the Cash Account payments for their extraordinary charges relating to other services that provide to the Fund, which may include consulting work and any ongoing Trust Deed variation costs as separately agreed with you and Rivkin Super, and it will advise you in writing of these fees before it deducts them

 

(a) You will indemnify Rivkin Super and Rivkin Report against all claims made against Rivkin Super and/or Rivkin Report and all claims, expenses, losses and costs suffered by Rivkin Super and/or Rivkin Report as a direct or indirect result of you failing to comply, or failing to comply in sufficient time, with any of your obligations under the SIS Act, any other applicable law, the Fund’s Trust Deed or this Agreement. In particular, you will indemnify Rivkin Super and Rivkin Report against all such claims and losses against Rivkin Super and/or Rivkin Report that Rivkin Super and/or Rivkin Report suffer in respect of:

     i. the trustee breaching the provisions of the Fund’s Trust Deed or any applicable laws which result in the Fund being deemed non-compliant with the SIS Act;

     ii. any act, omission, deceit, neglect, mistake or default of any person, except to the extent that such claim or loss is attributable to Rivkin Super’s and/or Rivkin Report’s negligence or fraudulent conduct;

     iii. any external advice provided to the trustee or the Fund, regardless of whether Rivkin Super and/or Rivkin Report facilitated the provision of that advice to the trustee or the Fund;

     iv. any failure to maintain the security of the information of the Fund, including but not limited to the information accessed through the Service including your password and access codes; and

     v. any particular investment or investment performance or rate of return affecting the Fund.

 

5.       TERMINATION AND VARIATION

(a) Rivkin Super and/or Rivkin Report may undertake a Variation. Rivkin Super or Rivkin Report will provide you with thirty (30) days notice in writing of their intention to make the Variation before the Variation takes effect.

(b) Rivkin Super reserves the right to vary the price of Rivkin Super and/or vary the price of the Rivkin Report and/or vary the price of brokerage, which is provided as part of the Rivkin Super product.

(c) You may terminate this Agreement at any time by giving Rivkin Super thirty (30) days notice in writing. The termination of this Agreement will have effect once the annual period has completed. All other fees and charges payable at the date of termination of the Agreement must be made for the termination to be effective. If you do not cancel, it will be assumed that you are extending this Agreement for the same period of time you elected in your Application Form.

(d) Rivkin Super may terminate this Agreement:

     i. at any time by giving you thirty (30) days notice in writing; and

     ii. immediately if you have failed to pay any fees or otherwise breach your obligations under this Agreement.

(e) In any circumstances that the Rivkin Super service is terminated, Rivkin Super will provide you with any original documentation that we have that is related to your fund, and this will include electronic records.

(f) Termination of this Agreement does not affect Rivkin Super rights under this Agreement which have arisen prior to the effective date of termination.

(f) You acknowledge that Rivkin Super may retain electronic records of documents for up to 10 years.

(g) If you change your address, it is your responsibility to ensure that all of the individual investment managers and other persons involved with the Fund are advised of the Fund’s change of address.

(h) Where the trustee is an individual, in the event of the trustee’s death, this Agreement will continue to be enforceable against the trustee’s estate.

 

(a) You agree that Rivkin Super may, in its sole and absolute discretion:

     i. delay, block or refuse to process any transaction; or 

     ii. refuse to perform any(more) of its obligations under this Agreement,

without incurring any liability, if Rivkin Super suspect for any reason, that:

     iii. an action it is required or requested to take under this Agreement;

     iv. its involvement in any transaction that is any way connected with this Agreement; or

     v. its performance of any service for any person in connected with this Agreement;

might in any way cause Rivkin Super:

     vi. to breach any law, regulation or other legal prohibition of any place or jurisdiction (including a foreign place or jurisdiction);

     vii. to deal in any way with the any person (natural, corporate or governmental) that is sanctioned, or is connected in any way to any person that is sanctioned, under economic trade sanctions imposed by the United Nations, the European Union or any country;

     viii. to breach any sanction of any kind imposed by any country (including any sanction that supports a decision or resolution of the United Nations Securities Council);

     ix. to deal in any way with any person (natural, corporate or governmental) that has been listed or named by any government, or independent authority (such as the United Nations or the European Union), as a person who is in any way suspected of being involved (or potentially involved) in terrorism or in any activities connected with terrorism; or

     x. to be involved (whether directly or indirectly) in any transaction which involved the proceeds of unlawful conduct or which involves proceeds which might be applied for the purposes of unlawful conduct.

For the purposes of this clause, the circumstances listed in paragraphs (6)(a)(vi) to (6)(a)(x) above are collectively described as unlawful acts.

(b) You must provide all information to Rivkin Super which Rivkin Super reasonably requires in order:

     i. to manage anti-money laundering, counter-terrorism financing and economic and trade sanctions risk;

     ii. to comply with any laws, regulations, or other prohibitions that may be applicable to Rivkin Super with respect to any transaction, requested action or obligation applicable to Rivkin Super; or

     iii. to avoid involvement in any unlawful act.

(c) You warrant to undertake to Rivkin Super that you will not request Rivkin Super to take any action, or to perform any obligation, in connection with this agreement that might cause Rivkin Super to be involved in any unlawful act on the part of Rivkin Super. Should you become aware that Rivkin Super might become involved in an unlawful act in connection with this Agreement, you must immediately tell Rivkin Super of the fact or circumstance that might cause Rivkin Super to be at risk or involvement in an unlawful act. Should you become aware that Rivkin Super has become involved in an unlawful act, as a result of its performance of any action or obligation in connection with this Agreement, you must immediately tell Rivkin Super of the fact or circumstances that has caused this to occur.

(d) You agree that Rivkin Super may disclose any information concerning you to any law enforcement agency or court where required to do so under any law or regulation (including a law or regulation of a foreign place or jurisdiction).

 

(a) In providing the Service, Rivkin Super may collect and use your personal information. The manner in which information is collected, used and stored is set out in this “privacy and personal information” clause.

(b) Rivkin Super may collect your personal information:

     i. to provide the Service, or information about the Service;

     ii. to consider your request for the Service;

     iii. to tell you about other products or services;

     iv. as part of arrangements with other organisations, such as loyalty partners, to promote and provide products or services;

     v. in line with other administrative and operational tasks – including, systems development and testing, staff training, and market or customer satisfaction research;

     vi. to prevent or investigate any fraud or crime, or a suspected fraud or crime; and

     vii. under the relevant laws, regulations, codes and external payment systems.

(c) In providing the Service to you it may be necessary for Rivkin Super to collect and/or disclose personal information concerning you, the Fund’s Members or the Fund to certain third parties and you consent to the disclosure of your personal information to persons including:

     i. related companies of Rivkin Super;

     ii. any service providers hired to assist in administering the service delivered by Rivkin Super;

     iii. an alliance partner, to promote or use its products or services, and any of its outsourced service providers;

     iv. regulatory bodies, government agencies, law enforcement bodies and courts;

     v. other parties that Rivkin Super must, by law, disclose information to;

     vi. participants in the payments systems – including payment organisations and merchants – and other financial institutions, such as banks;

     vii. any person who introduces you to Rivkin Super

     viii. your authorised agent, executor, administrator or legal representative;

     ix. Billing and Debt Recovery Agencies; and

      x. Rivkin Super professional advisers, including their accountants, auditors and lawyers.

(d) If you give Rivkin Super personal information about someone else, please show them this “privacy and personal information” clause, so they can understand how Rivkin Super may use or share their information.

(e) Rivkin Super may send you further information from time to time about Rivkin Super (including Rivkin Super alliance partners) services and/or products. You may elect to stop receiving such information at any time by contacting either:

     i. Rivkin Super on 1300 748 546; or

     ii. Rivkin Report on 1300 366 145

 

(a) If Rivkin Super makes a mistake, or our service does not meet your expectations, please let Rivkin Super know. If you have a complaint, we will work to resolve it quickly. Please either:

     i. call and speak with our Client Services team on 1300 366 145

     ii. write to or email (info@rivkin.com.au) our specialist complaints team, the Rivkin Customer Response Team.

(b) Rivkin Super will usually be able to solve the problem on the spot. If not, our Rivkin Client Services Team will work with you to resolve a complaint within five business days. If this isn’t possible, Rivkin Super will keep you up to date on how your complaint is progressing, and how long we expect it will take.

 

9.       CUSTOMER ADVOCATE

(a) If you are not happy with how Rivkin Super has handled a complaint, you can ask Rivkin Super’s Customer Advocate to review it. The Customer Advocate reviews more difficult complaints for free to help achieve a prompt solution.

 

(a) If you are not happy with all the steps Rivkin Super has taken to resolve the complaint, or with the result of our investigation, you can contact the Financial Services Ombudsman Service Limited, an alternative dispute resolution scheme. Details of the service can be found by visiting www.fos.org.au

 

 

End of Terms and Conditions

Version 1; 02/11

© 2011 Rivkin Securities and Rivkin Report