Skip to main content

Additional Company Account Holder Terms

Account Operation

1. The person named as the account holder (Account Holder) when signing up to a Sharesies Company Account  for the named company (Company) will hold and operate an account on behalf of the Company (Company Account)  in accordance with these terms.

2. The Account Holder and Company agree and acknowledge: 

a. the Account will be operated in the Account Holder’s name and not in the name of the Company; 

b. as between the Company and Account Holder, the investments and money in the Account from time to time belong to the Company and not the Account Holder;

c. the Account Holder is a current director or other person authorised to make decisions on behalf of the Company pursuant to the Company’s Rules;

d. the Company must advise Sharesies in the event there is required to be a change in the Account Holder or the Account Holder dies and agree to do all such acts necessary to effect the change in Account  Holder.  The Company further agrees and acknowledges that:

i. Sharesies may require additional documentation and information to be provided to confirm and effect any such change; and 

ii. A change in Account Holder (for any reason including the death of the Account Holder) may require Sharesies to close the Account - this may mean selling the investment in the Account and returning the money to the Company;

iii. Sharesies may act in any other reasonable way in its discretion under the circumstances;

e. any notifications relating to the Account will be sent to the Account Holder only and Sharesies is not required to separately notify the Company; 

f. the Company and Account Holder agree to confirm or provide further information to Sharesies at Sharesies’ request, including without limitation such information as Sharesies requests to meet its obligations under the Anti-Money Laundering and Countering the Financing of Terrorism Act 2009 or any other regulatory requirements; and

g. the Account Holder acknowledges that it may be limited to operating one account in their name on the Sharesies platform, and that as they operate the Account for the Company in their name, they may not be able to open an individual account.

Tax 

3. The tax treatment of companies may differ from individuals or other entities.  The Company and Account Holder acknowledge that the Company is responsible for all the Company’s tax obligations related to the Account.  Sharesies does not accept any responsibility for any taxation obligations or liabilities that the Company may incur.  In the event Sharesies withholds tax on the Company’s behalf, it is the Company’s responsibility to ensure that the tax rate notified to Sharesies is correct.  If we need to recover additional tax from the Company for any reason, including where we have withheld tax, the Company agrees that is money the Company owes Sharesies.

Responsibility and Indemnity 

4. As set out in our Terms and Conditions, the Company and Account Holder accept that Sharesies is responsible to you for your personal direct Loss to the extent that such loss is directly caused by our breach of Applicable Law, negligence, fraud, or wilful default on, or breach of, our obligations to you under these additional terms and the Sharesies’ Terms and Conditions.  Sharesies is not otherwise responsible to you or anyone else for anything in any way related to our Services, whether for breach of contract, tort, misrepresentation, or other cause;

5. The Company and Account Holder indemnify and hold Sharesies harmless from any liability to the extent that Sharesies acts in accordance with these terms. The maximum liability of Sharesies to the Account Holder and/or Company is capped at the prior 12 months of fees paid to Sharesies in relation to the Account. 

Custody Fees

6. The Company and Account Holder agree that there will be a custody fee equivalent to 0.1% p.a. of the portfolio balance in the Account. This amount will be calculated daily and a monthly equivalent will be deducted from the Sharesies wallet each month.

Terms and Conditions

7. These additional terms form part of and supplement the Sharesies’ Terms and Conditions. By agreeing to these additional terms, the Company and Account Holder agree to the Sharesies’ Terms and Conditions in respect of the Account.  

8. In the event of any conflict between these additional terms and the Sharesies’ Terms and Conditions, these terms will apply. 

9. The Company and Account Holder acknowledge that notification of updates of the Sharesies’ terms and conditions will only be sent to the Account Holder. 

Express direction to deduct fees

10. The Company and Account Holder agree that by agreeing to these additional terms that they provide express direction to Sharesies to deduct the CustodyFees and any other fees that may apply when using the Sharesies platform as set out in the Sharesies’ Terms and Conditions.