1. Welcome to Sharesies!
Hi, we’re Sharesies and we’re really excited that you’re part of our effort to make investing easy and accessible.
When you create an Account with us or access the Sharesies Website or Sharesies App you accept these terms and conditions. During your time with us you agree to follow these terms and conditions so it's important you read and understand them. There might also be different or extra terms and conditions that apply for certain customers, accounts, products or services that are provided or made available to you at the time, and you agree to be bound by those as well.
If specific terms and conditions apply to for a particular customer, account, product or service, and they are inconsistent with these terms and conditions, then the specific terms and conditions will apply. Other terms may also be implied by law.
When we refer to "our terms" for a particular customer, account, product or service, we mean these terms and conditions together with our specific terms and conditions for that customer, account, product or service.
See our 'Gift Code Terms and Conditions' if using a Gift Code.
When we say "we", "us" or "our", we mean Sharesies Limited, which provides the Service to you.
When we talk about "you" or "your", we mean the person to whom we provide the Service as notified to us when an application is made. Where applicable, this applies to your duly authorised representatives, legal personal representatives and successors.
2. Info about our Service
You must be 18 or over to open an Account with us at the moment.
Your residential and postal address must be in New Zealand and you must be a New Zealand tax resident. In opening an Account with us you also confirm that:
- you are not a citizen or resident of the United States for tax purposes; and/or
- you are not tax resident in any other country.
We may add or remove funds or other financial products available to buy via our Service at any time without prior notice.
We may offer a welcome bonus of cash in your Account. This is to use or put towards your first buy order(s) with us. You won’t be able to withdraw this from your Account as cash until you begin investing. You’ll have 90 days to use your welcome bonus.
We will not provide, and nor is our Service designed to provide you with any personalised advice (including investment advice) or recommendations. Anything provided on the Sharesies Website, Sharesies App, or communications from us does not take into account your particular investment objectives, financial situation or investment needs and is therefore not to be taken as personalised investment, financial or tax advice. This may change, and we may begin offering personalised advice in future. If we do, we will notify you when we start offering personalised advice. If you’re unsure whether or not a particular investment is right for you, you should get advice from a financial adviser.
All investments can go down in value as well as up and we’re not responsible for any losses you incur or any tax liabilities, which arise as a result of your dealings with us and/or use of the Service. Ultimately you could get back less than you invest. Any returns will vary over time so income is variable and not guaranteed.
You must apply and complete your application through the Sharesies Website or Sharesies App. You warrant and represent that when you submit your application, all the information contained in your application is complete and accurate.
We may use an electronic verification service and/or approach a credit reference agency to confirm your identity, and of anyone else providing or receiving money on your behalf, and by applying you consent to this and confirm that you have the consent of any person providing or receiving money on your behalf.
We may also need to get additional information from you, including to verify your identity and for other compliance purposes, in which case until we have all of the information we need we may:
- delay ‘activating’ your Account for trading;
- suspend access to your Account; and/or
- withhold settlement of your trade(s) and/or withdrawal of funds from your Account.
You will automatically be enrolled for our ‘paperless service’. This means you agree that we may make the information relating to your transactions and your account activity (including for the purposes of section 5(1) of the Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014) available to you through the Online Service.
4. Account security
We will assume we are dealing with you, and will be entitled to rely on any instructions you give us if dealing with us via the Online Service. You must take all reasonable steps to keep your Account secure and prevent any fraudulent use of it. This includes things like (but is not limited to):
- changing any passwords regularly;
- taking care to ensure that no one sees you enter your security details when you log in to access the Online Service;
- keeping the details we hold about you up to date; and
- if you use the Sharesies App, keeping your mobile device safe and not storing your security details on it where they may be accessed by someone coming into possession of it.
We may introduce new security procedures for your Account and/or our Service. We will notify you as soon as reasonably practicable in accordance with clause 6 where these might affect you.
We may stop or block access to your Account where we suspect:
- that the security of your Account has been compromised;
- that there has been unauthorised or fraudulent use or attempted unauthorised or fraudulent use of your Account;
- that your Account is being used for illegal purposes (including, but not limited to, money laundering or committing financial crime); or
- we are required to do so by law or any regulatory authority.
Where we are able, we will notify you if we propose to block or have blocked access to your Account and give you reasons for doing so. We do not accept any liability for any loss you may suffer where we act in accordance with the provisions of this clause or where you fail to meet your obligations under this clause.
Please send any communications to Sharesies Limited at [email protected] or through the help icon via our Online Service.
If we receive a communication (including an apparent instruction) relating to your Account other than via the Online Service, we may choose to either act or not on that communication, or to impose further requirements as we see fit. We may take such action and impose such requirements as we see fit. You accept that when you send a communication outside of the Online Service, that communication may not be secure, and that we will not be liable if we act on that communication.
You must protect your Account details and the associated passwords and report any information loss, suspected theft or misuse of your Account to us immediately by emailing us at [email protected] or contacting us through the help icon via our Online Service.
6. Changes to these terms and conditions and notices
We may change our terms, including our fees and charges, from time to time in whole or in part, by giving you reasonable notice of the change in accordance with this clause.
Except where our specific terms state otherwise, we will generally give you at least 14 days’ notice of any change to these terms and conditions that may be detrimental to you, unless we are required to make the change sooner or immediately (for example for regulatory or legal reasons).
As part of our provision of a ‘paperless service’, we can give notice by one or more of the following ways:
- direct communication with you (including email, text message, or a message when you log in to access the Online Service); or
- by showing a message on the Sharesies Website and/or Sharesies App.
We will also make the amended terms and conditions available on the Sharesies Website and Sharesies App.
We do not need to give notice of changes that are in your favour, do not materially reduce the benefit of the relevant Service to you, or are incidental changes (such as clarity, drafting and typographical amendments) which may take effect immediately and will be available on the Sharesies Website or through the Sharesies App.
By continuing to use the Service or access the Sharesies Website or Sharesies App after the effective date of any change, you will be deemed to have accepted the change. If you don’t accept any proposed change, you should notify us immediately and stop using the Service and close your Account before the effective date of that change.
7. Client money
Client money is money received from you or a third party for your benefit, which includes money held pending investment, as well as the proceeds and income from selling investments before the money is paid to you.
Your client money is held by us on bare trust for you and is segregated from our own funds (although we may hold a buffer of our own funds in the same account). Client money may be held in ‘pooled accounts’, which means your money may be held in the same accounts as that of other customers using the Service.
Client money is deposited with an approved bank in instant access or term accounts opened in the name of Sharesies Nominee Limited. The banks we use are independent of us and we do not accept liability for any default or delay in the distribution of funds as a result of their failure.
If we are unable to identify which Account money should be credited to, we reserve the right to return money to the source it originated from, subject to normal banking clearance times.
When you or we close your Account, we will make reasonable endeavours to pay out any residual balances that subsequently accrue. If we are holding any money which becomes unclaimed money, we may account for that money in accordance with the Unclaimed Money Act 1971.
8. Income and dividends
Any income payments or tax credits we collect on your behalf from each fund or in respect of another financial product (less tax, fees and costs) will be paid to you as distributions into your wallet. We may also issue further interests in any investment in your Account to reflect tax credits received in respect of your investments.
Our Service does not currently provide for distributions to be automatically reinvested. Instead distributions will be paid out as cash and credited to your Account (i.e.wallet) as soon as practicable. It will then be held in your wallet as cash pending your instructions.
We will not be liable for any loss due to any delay outside our control in crediting any income to your wallet.
9. No interest payable on cash
Money received from you or a third party for your benefit, which includes your money held pending investment, payment to you as the proceeds and income from selling investments, may attract interest from the bank at which it is deposited. You consent to such interest being deducted from that bank account and being retained by us as part of the fees for using the Service.
10. Information about dealing
You must read the Product Disclosure Statement (PDS) and/or any of the other disclosure materials for an investment on the Sharesies Website or Sharesies App before instructing us to place a buy order, and in placing a buy order you confirm you have read and understood it.
It is also your responsibility to ensure you are aware of current charges or levies applying to any fund or other financial product you instruct us to buy, or sell. Details of these are available in the PDS on the Sharesies Website or Sharesies App, but we accept no liability for the accuracy or completeness of these.
You will be able to place orders online via the buy or sell sections of the Online Service.
Details of which investments may be dealt via the Sharesies Website or Sharesies App can be found on the Sharesies Website or Sharesies App.
We generally process orders each Working Day. Daily cut-off times are at our discretion and may vary. If your order is received after the relevant daily cut-off time, it will be processed on the next Working Day. The price we display may not be the price you receive as prices change regularly. Orders are normally processed each Working Day at around 12:30pm. When you place an order to buy or sell investments this forms a commitment from you. You may be able to cancel your unprocessed orders through the Online Service. But you cannot cancel orders already processed by us.
Our acceptance of orders via our Online Service and our execution of those orders is at our sole discretion and subject to change at any time without notice.
We may put limits on certain orders or types of orders.
We reserve the right to treat as void from the outset any order or transaction containing or based on any manifest error. In the absence of our fraud or wilful default, we will not be liable to you for any loss, cost, claim, demand or expense following any manifest error.
You acknowledge that all prices shown on the Sharesies Website and Sharesies App are indicative prices only and are not based on live data feeds. We receive these prices from third parties and the data can be delayed by at least 20 minutes. We are not responsible for any loss suffered from the reliance on these prices. The actual price of a particular investment is set by the fund provider or their representative at the time your buy or sell order is executed and confirmed by us.
The recording by us, in whatever form, of an instruction will be conclusive evidence of the contents of that instruction.
We may execute a buy or sell order for an investment with ourselves or with others as the counterparty, at our election.
We are unable to process an order if there are insufficient funds or units in your Account.
Where a delay occurs because the NZX or fund provider closes or is unavailable for any reason, we will complete the order as soon as reasonably practicable. However, we have no control over the price at which your order is executed and confirmed following such a delay. Settlements will be made to or from your Account.
11. Availability of the Service
We make no express or implied warranties or representations, and cannot guarantee that access to, or trading on your Account via the Online Service, will be available at all times or without delay or errors. You acknowledge that the Online Service may be interrupted and the Services available may be variable in certain circumstances.
We may at our absolute discretion suspend the operation of our Service (including the Online Service) where we consider it necessary. For example, suspension may be necessary for technical reasons, emergencies, regulatory reasons, where we decide it is sensible for our or your protection, in periods of exceptional trading activity or to ensure the continued availability of other services.
Occasionally, we may need to suspend the provision of the Service (including the Online Service) to maintain or upgrade our systems. To improve and maintain the Service, we may from time to time request that you install updates and upgrades.
We will not be liable to you if our systems or services are unavailable to you for trading or information purposes for whatever reason.
12. General settlement
We are not responsible for any delay in the settlement of an order resulting from circumstances beyond our control, or the failure of any other person or party (including you) to perform all necessary steps to enable completion on the settlement date. We will carry out each transaction for you solely as your agent.
If you place a buy order we will place a reservation on your Account (i.e. wallet) for the relevant amount of your order. This does not mean that your order has been accepted and/or that we are obliged to accept and execute it.
If you place a buy order we will buy the maximum number of financial products on your behalf for the amount of your order. Once we have executed and confirmed your buy order any remaining amount will be returned as a refund on your Account (i.e. wallet).
The date and time of processing (of either a buy or sell order instruction) will depend on both our processing requirements and those of the fund provider or their representative.
You will receive the benefits of holding investments from the date we receive confirmation that the order has been executed, at which point it will form part of the valuation of your portfolio.
The sale proceeds will be credited to your Account as soon as reasonably practicable after settlement occurs, this normally takes 2 Working Days. The value of the investment holding sold will be added to your wallet when we receive confirmation that the trade has been placed.
We currently charge an annual platform service fee of $30 for our Service (inclusive of GST, if any) . This fee is payable on registration for our Service, and before your Account is ‘activated’ for trading. We may change our fees and charges in accordance with clause 6. We also receive interest as set out in clause 9 above.
You will be responsible for paying any other taxes, costs and fees applying to the funds or other financial products that you invest in through the Service. Fund or other financial product providers’ management fees and expenses may be built into the value of the investments they offer. These may change from time to time, and details are available in the relevant PDS or other offer document.
You acknowledge and agree that we may deduct from your Account any amounts due under this clause.
14. Outstanding fees and unpaid debts
If you owe us money, we may sell or redeem investments in your Account or any other account in which you have an interest (such as a separate joint Account) to meet amounts you owe to us.
If you default on any payment owed to us, we may also immediately cancel, terminate and/or suspend any transaction with you without having any resulting liability to you. If we need to take legal action against you for recovery of a debt then you will be liable for any and all costs and expenses incurred by us in recovering such debt.
15. How we are paid by third parties
We may receive payments from the investment managers and other providers with whom we place business for the distribution and administration of their investments. This is at no additional cost to you.
If we execute instructions for the underlying investment we will receive any commission payable. Members of the Sharesies Group may also receive remuneration from product and service providers for any administrative or information services we provide them.
We will keep detailed records of all your investments and assets in your Account (i.e. portfolio) at all times.
Investments purchased by us on your behalf will be held on bare trust as your nominee in the name or to the order of Sharesies Nominee Limited or any other approved third party custodian to our order.
Sharesies Nominee Limited is a non-trading company set up to hold investments on behalf of our clients. Sharesies is responsible and liable for Sharesies Nominee Limited to the same extent as for its own acts.
Your investments held by us on your behalf may be pooled with the investments of other clients and as a result your holding may not be individually identifiable on the relevant issuer register.
You confirm that you are the beneficial owner of your Account, or you are the sole trustee on behalf of the beneficial owner, and that the investments in your Account are and will remain free from any encumbrance.
17. Intellectual Property
By using the Service, you acknowledge and agree:
- We own or licence the Intellectual Property Rights in our brand, name, the software and associated technology, the Service and all related materials. Except as expressly set out in these our terms, you have no rights in or to the Intellectual Property Rights or in any improvements or variations that may be made to the Service or any related materials;
- nothing in our terms is to be construed as granting you any right to use any Intellectual Property Rights without the prior written consent of us or our licensors;
- that you will not reverse engineer, decompile, disassemble, modify or create derivative works of the Service;
- to provide feedback on the Service. Each experience may be different, but generally we will ask you for your opinions on the Service as you have found it.
18. Liability and Indemnity
You are responsible for all liabilities or costs incurred in relation to your Account and use of the Service, and you agree to indemnify us from and against those liabilities or costs except:
- to the extent they result directly from our gross negligence, wilful default or fraud; or
- in circumstances where our liability is not able to be limited under any applicable law.
You acknowledge that we are not obliged to forward or take any action in connection with reports, notices, proxy forms, or other communications received in respect of investments in your Account. We may, however, forward such items to you and may take such steps as we consider (in our discretion) to be in the best interests of all affected Sharesies customers.
The Service is provided on an "as is" and "as available" basis. As far as the law allows, we are not liable to you for any loss or damage you suffer in respect of the Service except where caused by our negligence, wilful default or fraud. Matters for which we are NOT liable include (but are not limited to) the following:
- losses if you are unable to access the Online Service (for example, if you can’t obtain an investment at a stated price);
- if the device you use to access the Sharesies App or to send or receive information doesn’t work properly or is not compatible with the Service;
- any loss or damage arising out of your use or inability to use the Sharesies Website or Sharesies App or its functionality;
- corruption or loss of data or other information;
- malware that may be transmitted to your computer by use of the Service;
- losses or costs caused by unforeseeable circumstances outside our reasonable control, including (but not limited to) failures caused by problems with another system or network, third party data delays or errors, inability to communicate with market makers or other brokers, third party viruses or malware and the actions or failures of any counterparty or any other broker or agent, or their systems);
- where you have been fraudulent or careless or where you have breached our terms, in particular security requirements;
- any consequential or indirect losses arising from timing delays where we must comply with the law (for example losses where there are timing delays in transactions where we have to carry out money laundering, fraud or regulatory obligations such as delaying or blocking payments).
If you are a "consumer" for the purposes of the Fair Trading Act 1986 and Consumer Guarantees Act 1993, nothing in our terms is intended to limit any rights or remedies that you may have under the Fair Trading Act 1986 or the Consumer Guarantees Act 1993.
To the maximum extent permitted by law, our total liability under these terms and conditions, or in connection with the Service, for any event or act in any calendar year, is capped at the lesser of:
- the market value of the investments in your Account in respect of which, and at the time, the liability arose; and
- the amount equal to the average market value of the investments in your Account for that calendar year.
How we use your personal information
The personal information you provide or we obtain from third parties (such as a credit reference agency) may be used for the following purposes:
- to create, manage and administer your Account in accordance with these terms and conditions;
- verify your identity or undertake credit assessments;
- to obtain quotations or arrange investments with third parties;
- if you complete an application on behalf of an applicant pursuant to a power of attorney, the personal data you provide about the applicant (including information about the applicant’s mental health) and your position as the attorney will be processed for the purpose of administering the product or service to which the application relates;
- to comply with our legal obligations, co-operate with the court service, our regulators and law enforcement agencies and to prevent and detect crime;
- to check instructions you have provided or resolve disputes;
- to provide customer support, improve the quality of the Service we provide and train our staff;
- to keep you informed (by email, text, or via the Online Service) of products and services we consider may be of interest to you (including from our selected business partners and members of the Sharesies Group), unless you ask us not to provide you with this information;
- to obtain your feedback on a product or service via a third party appointed by us (we will only provide such third parties with your name and email address); and
- aggregating data for analysis and research and to provide management information or other services internally and to third parties.
By using the Sharesies App, you’re also agreeing to us collecting and using technical information about the device and related software, hardware and peripherals for services that are internet based or wireless. This will allow us to improve our products and to provide our Services to you.
Personal information will be held by or on behalf of Sharesies Limited and will be retained by us for a reasonable time after enquiries are received by us (whether or not an Account is subsequently opened), but only for as long as is required for the purposes for which it was collected.
Sharing your information
We may share the personal information we hold about you with other members of the Sharesies Group, or with third parties that provide services to or for us (or the Sharesies Group) to enable us to better understand your needs and operate your Account.
In connection with the purposes set out in these terms and conditions, you authorise us to share your personal information with governmental, judicial or regulatory bodies, our partners, suppliers and sub-contractors including but not limited to payment service providers, advertising networks, electronic verification, credit reference agencies and our professional advisers such as our lawyers.
Where we use external third parties to process your information on our behalf for the purposes set out in these terms and conditions, we may need to transfer your personal information overseas. By providing us with your personal information you consent to such information being processed by us and our appointed third parties in the manner and for the purposes set out in these terms and conditions. We will not sell, trade, or rent your personal data.
Collection of analytics information
To improve our website and advertising, and to help us better understand browsing behaviour, we may use website measurement software and other analytics tools and services (including Google Analytics) to gather information such as traffic patterns, mouse click activity, IP addresses, and any other information you may provide through use of our website. This information is aggregated and anonymised so that you can’t be identified.
A cookie is a data file that is sent to your browser from a web server and stored on your computer or device, then sent back to the server by your browser each time you access certain sections of our website.
- providing more customised content and material to you on our website or app that better matches your interests and needs;
- security, including helping us to identify you when you log in to your Account; and
- business and marketing analysis.
This information may be retained in an anonymous or aggregated form after we have erased personal information that identifies you from our systems.
You can choose to disable cookies via your device’s website browser settings. However, if you choose to reject cookies, you may not be able to use or access some features of the services that we offer.
If you would prefer not to receive direct marketing information or be contacted to provide feedback, please let us know. You may contact us through the Online Service or by email on [email protected].
You have the right to request a copy of the personal data we hold about you. If you would like a copy of some or all of this information you may contact us by email using the details above. We may charge a nominal fee for providing this information.
If any of the information we hold is inaccurate, you can ask us to make any necessary amendments. You must inform us if any of your personal information changes, to ensure that the details we hold about you are up to date and correct.
We have reasonable security measures in place to protect against the loss, access, misuse, alteration and/or unauthorised disclosure of the information under our control. However, we do not make any warranties in relation to the security of any information you disclose or transmit to us and we are not responsible for the theft, destruction, or inadvertent disclosure of your personal information where our security measures have been breached. Your use of our Services is at your own risk.
20. Assignment, delegation and third parties
We may appoint any person (whether connected to Sharesies or not) to advise on or perform any of our functions or responsibilities under our terms. We will satisfy ourselves that any person to whom we delegate any of our functions or responsibilities is competent to carry out those functions and responsibilities. We may assign our terms and conditions in whole or in part to any person. Any member of the Sharesies Group shall be entitled to enforce provisions of these terms and conditions, which shall apply to it as if it were a party to the contract.
You may not assign your rights to your Account or the Service to any other person without our prior written consent.
Obviously we don’t want something to go wrong, but if it does please let us know straight away by getting in touch with us via the help function in the Online Service or email us on [email protected].
If we fail to resolve a complaint to your satisfaction or if we fail to do so within 40 Working Days of receiving your complaint, you can also direct your complaint to the Financial Services Complaints Limited Service at FSCL, PO Box 5967, Wellington 6145, or call 0800 347 257 or email [email protected].
22. Termination and closure
You may terminate these terms and conditions with immediate effect, at any time, by giving notice to us via the Online Service and ceasing to use the Service.
Without affecting any other right or remedy available to us, and except where our specific terms say otherwise, we may terminate our relationship with you and these terms and conditions with immediate effect, at any time, by giving written notice to you, if:
- you fail to pay any amount due under our terms on the due date for payment and remain in default for more than 7 days after being notified in writing to make such payment;
- you breach any of our terms which is irremediable or (if such breach is remediable) you fail to remedy that breach within a period of 7 days after being notified in writing to do so;
- you are declared bankrupt (if an individual) or become subject to any liquidation or similar process, or are otherwise unable to pay your debts as they fall due;
- we have reasonable grounds for believing you have committed or are about to commit a crime in connection with your use of the Service; or
- we are required to terminate our agreement with you or the Service by any competent regulatory authority or as a matter of law.
In addition to the right to terminate set out above (including in our specific terms), we may also terminate our agreement and these terms and conditions for any other reason, by giving you at least 14 days’ written notice.
Termination shall be without prejudice to the completion of transactions already initiated under these terms and conditions. Unless specifically prohibited, we will complete such transactions as soon as practicable, provided that you pay us all outstanding amounts owing to us under these terms and conditions.
On termination of our agreement you will pay us all outstanding costs, fees, charges or expenses relating to the Service and any transactions already initiated prior to termination. If we terminate this agreement in accordance with any of the first four bullet points set out above, you also agree to pay us any expenses necessarily incurred by us in terminating our agreement and in concluding outstanding obligations and you will bear any losses necessarily realised in concluding any outstanding obligations.
On termination, unless we agree otherwise with you in writing, we may sell, redeem, or withdraw your investments and pay the net proceeds (after deducting fees, costs and charges, and any amounts owing to us) to you. We may (but are not obliged to) transfer investments to you in accordance with your direction, or agree to continue to hold investments for you, subject to agreement on suitable terms. We will not refund any part of any fees, costs, or charges already incurred (including your annual subscription fee).
In relation to certain investments, we may act as a PIE investor proxy (sometimes called a PIP) for tax purposes. This means that when you invest in a PIE, we will be holding the investment on your behalf for tax purposes. You acknowledge that we will undertake all tax compliance for your PIE investments through the Service. We may be required to collect certain tax information from you and provide it to the PIE, for them to meet their tax obligations.
On registration, you must provide us with your IRD number and you must keep us notified of your prescribed investor rate (PIR). If you do not notify us of your PIR and/or your IRD number, we may use the default rate of 28%. If you notify a PIR that is lower than your correct rate, you will need to include your PIE income in your tax return and pay any tax shortfall (including penalties or interest) to Inland Revenue. If the default rate or your notified PIR is higher than your correct rate, you will not get a refund of any overpaid tax.
We may cancel, withdraw, or redeem interests in any investment in your Account to allow for the payment of tax, or issue further interests in any investment in your Account to reflect tax credits received in respect of your investments.
Withdrawals from the Service can be made via the Online Service. Withdrawals may be paid by bank transfer to a NZ registered bank account only. We may set a maximum daily amount that can be withdrawn, as published on the Sharesies Website. We may change this at any time without prior notice.
If we don’t insist that you perform your obligations under our terms, it doesn’t mean you don’t have to. Similarly, if we don’t enforce our rights under our terms, or we delay in doing so, it doesn’t mean we’ve given up those rights.
Each term of these terms and conditions and our specific terms operates separately. If any court of competent authority decides that any of them are unlawful or unenforceable, the other terms will remain in full force and effect.
Our rights under clauses 14 to 18 survive termination of this agreement.
These terms and conditions are governed by New Zealand law and the Courts of New Zealand have exclusive jurisdiction if there’s a dispute.
"Account" means your account held within the Service and includes your portfolio and wallet;
"Gift Code(s)" means the gift code(s) issued by Sharesies under specific Gift Code Terms and Conditions for redemption in connection with an Account;
"Gift Code Terms and Conditions" means the specific terms and conditions available on our Website and/or the Sharesies App;
"Intellectual Property Rights" means any and all vested, contingent and future intellectual property rights, including but not limited to copyrights, patents, trademarks, service marks, design rights (whether registered or not), know how, trade secrets, inventions, set-up and any applications for the protection or registration of these rights anywhere in the world;
"Online Service" means the functionality of the Sharesies Website or the Sharesies App, which enables you to access your Account and place orders online;
"PIE" means portfolio investment entity;
"PIR" means the prescribed investor rate, which is the notified tax rate applied to investments in a PIE;
"Sharesies Group" means Sharesies Limited and Sharesies Nominee Limited;
"Sharesies App" means a software application and/or web application we make available to you to enable you to access the Service using mobile devices;
"Sharesies Website" means the Sharesies website available at www.sharesies.co.nz and any other website operated and maintained by us;
"Service" means the overall service we agree to provide to you under our terms and comprises services relating to the operation of your Account (including your wallet and portfolio), together with the various underlying services (such as the ‘paperless service’ and the Online Service) which enable us to provide these facilities to you, as well as the use of and access to the Sharesies Website; and
"Working Day" means a day when the New Zealand Stock Exchange is open for dealings (excluding Saturdays, Sundays and public holidays in Wellington, New Zealand).