Help to Buy: ISA Account Declaration

Agreement to Assign Any Conversion Windfalls To Charity

Words printed in bold in this section of the form are explained in the notes at the end.

1) I understand that paragraphs 2 to 6 will apply to me unless I am either an established customer or in an exempt group at the time the Society opens my account.

2) I agree with the Society that, if any windfall rights are granted to me after my account is opened; I will assign my windfall rights to the selected charity.

3) I authorise the Society and the successor to pass any benefits derived from my windfall rights direct to the selected charity (or to any other charity or charities which the selected charity may nominate as the recipient of those benefits), without notice to me.

4) I understand that the Society has promised to transfer to the selected charity the benefit of the agreement which I have given under paragraph 2, above; and neither the Society nor the selected charity will release me from that agreement.

5) I authorise the Society to supply the selected charity with any information concerning me or any account which I have with the Society (now or in the future) if the selected charity reasonably requires it in connection with the agreement I have given under paragraph 2.

6) I understand that the Society will require any person who opens a new share account (not being a person who is then an established customer or in an exempt group) to enter into an agreement to assign to charity any windfall rights to which that person may subsequently become entitled. The terms of the agreement will be decided by the Society and may be different from the terms set out in paragraphs 1 to 5, above. This paragraph will cease to apply if the Society publishes a termination notice.

Notes

These notes govern the interpretation of paragraphs 1 to 6:

(a) Your “account” is the investment account which you are applying to open by completing this form.

(b) An “established customer” is an investing member of the Society (i.e. a saver with a share account) at all times since 15th November 1998.

(c) An “exempt group” is one of the special groups of people who, in the Society’s opinion, do not need to be asked to agree to terms which are the same as, or similar to, those in paragraphs 2 to 6. A list of these groups is available from the Society at any time. The Society may alter the number or composition of the groups from time to time, but no alteration will apply retrospectively.

(d) The “selected charity” means Cumberland Building Society Charitable Foundation (“the Foundation”) or, if the Foundation at any time ceases to be a registered charity, any other charity or charities selected by the Foundation to receive assignments of windfall rights and any benefits derived from them.

(e) The “successor” is any company or other corporate body to which the Society transfers its business under section 97 of the Building Societies Act 1986 (or under any provision which amends or replaces it).

(f) A “windfall right” is a right to receive, as a shareholding member of the Society, a benefit under the terms of any future transfer of the Society’s business to a successor (i.e. on a conversion or take-over) other than a right to have savings in a share account with the Society converted into savings in a deposit account with the successor; and a right conferred under the terms of a transfer which is publicly announced by the Society more than three years after the Society has published a termination notice.

(g) A “termination notice” means a press release publicising a decision by the Society that it will no longer require new shareholding members to enter into agreements of the kind described in paragraph 6.

(h) Where more than one of you is applying to open the account, paragraph 1 and (if applicable) paragraphs 2 to 6 apply to each of you separately.

(i) If the Society ceases to exist following a merger with another building society, paragraphs 2 to 6 will still be binding between you and the other society.

Declaration

I declare that:

  • All subscriptions made, and to be made, belong to me;
  • I am the beneficial owner of the monies to be invested in Cumberland Building Society and no other person has any interest in such monies;
  • I am 16 years of age or over;
  • I have not subscribed and will not subscribe more than the overall subscription limit in total to any combination of permitted ISA types in the same tax year;
  • I have not subscribed and will not subscribe to another Cash ISA in the same tax year that I subscribe to this Cash ISA;
  • I am resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or I am married to, or in a civil partnership with, a person who performs such duties. I will inform Cumberland Building Society if I cease to be so resident or to perform such duties or be married to, or in a civil partnership with, a person who performs such duties;
  • The information I have provided throughout the application process which has been presented to me on screen is true and correct.
  • I understand that in the event of this account losing its tax exempt status, the account will be closed and the balance transferred to an existing or new Cumberland Instant Savings account or other named account.

Authorisation

I authorise Cumberland Building Society:

  • to hold my cash subscription, ISA investment, interest, dividends or any other rights or proceeds in respect of those investments and any other cash;
  • to make on my behalf any claims to relief from tax in respect of ISA investments
  • to process any Relevant Personal Data and provide such Relevant Personal Data to HM Treasury and to the Administrator, as the data processor of HM Treasury.

I agree to the ISA terms and conditions contained in the ISAs leaflet and Cumberland Savings & Current Account Terms & Conditions.

Important Notes

  • I agree that Cumberland Building Society will process my personal data in accordance with the Privacy Notice.
  • I confirm that the account details have been explained to me and that I understand fully the specific terms and conditions of the account including any notice of withdrawal.
  • I acknowledge receipt of, via Secure Message, the following leaflets that will be applicable to my account and confirm that I accept their terms; Savings & Current Account Terms & Conditions, Savings leaflet, Charges for Accounts Services, Interest Rates (Fixed or Variable) leaflet, ISAs leaflet (inc. Key Features Document) and any other specific leaflet(s) relating to the terms and conditions of this account. I acknowledge that the Society may notify me of any changes to these documents in future by any durable medium.
  • I acknowledge receipt of, and have read and understood, the Financial Services Compensations Scheme Information Sheet.
  • I consent to the Society updating my personal details for all accounts with those provided in my application.

Help to Buy: ISA Eligible Customer Declaration

I confirm, for the benefit of the Administrator and HM Treasury, that by making this Eligible Customer Declaration:

1) I do not own, and never have owned, any interest in land, whether in the United Kingdom or elsewhere, which:

A) is:

  • (i) in England or Wales:
    (a) freehold;
    (b) leasehold, where the lease was originally granted for a term certain exceeding 21 years; or
    (c) commonhold; or

  • (ii) in Scotland, registered or recorded, or would be capable of being registered or recorded, as a right of absolute ownership in the Land Register of Scotland or General Register of Sasines in Scotland, as applicable; or

  • (iii) in Northern Ireland:
    (a) freehold; or
    (b) leasehold, where the lease was originally granted for a term certain exceeding 21 years; or

  • (iv) an equivalent interest in land to the interests in land listed in paragraphs (A)(i) to (iii) above under the laws of any jurisdiction outside the United Kingdom;

B) comprises a building that is used or suitable for use as a dwelling, or is in the process of being constructed or adapted for such use; and

C)

  • (i) which I acquired as a purchaser by way of sole or joint ownership; or
    (ii) which entitles me to possess or occupy that land.

2) I have not previously received payment of a Bonus under the Help to Buy: ISA Scheme Rules (unless the full amount of such Bonus has subsequently been repaid to the Administrator in accordance with the Scheme Rules).

3) I have not paid, and will not pay, into this Help to Buy: ISA more than the applicable monthly allowance, as set out in the Scheme Rules.

4) I understand that I can only hold one Help to Buy: ISA at any time.

5) I have been supplied with, or have had made available to me, a copy of the Scheme Rules, or have been provided with, or had made available to me, a link to a website where the Scheme Rules can be accessed, and I agree to be bound from the date of this agreement as an Eligible Customer by the Scheme Rules, as such may be amended and/or restated from time to time.

I declare that this application form has been completed to the best of my knowledge and belief.

For your benefit and protection you should read the Declaration, Authorisation and Important Notes carefully. If you do not understand any point, please ask for further information.