Terms and Conditions

By accessing, using, opening or in any manner connecting to this Website (and/or continuing to, on each occasion, access, use, open or in any manner connect to this Website) and the services it offers and especially by logging each time using the login and user id and/or selecting the "I agree" option below and then clicking "Submit" below, you (which term includes the individual user and your employee and/or Principal) are expressly and willfully intending to and agree irrevocably and unconditionally to the following terms and conditions (the “Terms and Conditions”):

I (which term includes the individual user and your employee and/or Principal) hereby agree both by conduct and expressly that the Use of the Login and User ID to access this Website and/or its services is equivalent to and constitutes the use of an advanced electronic signature and that I hereby waive any right to raise any objection to the compliance of the user-id and login with the criteria of an advanced electronic signature.

SCOPE

This Service is only available with respect to CDS Elements, CDC Access as well as to Investor-Accountholders and Sub-Account Holders issued Login IDs by CDC.

USE OF THE USERID AND LOGIN

Each time you use the User ID and Login and once you click "I agree" below, you will be consenting to electronic delivery of the Records and Disclosures in HTML format and if you choose to generate records in Adobe format (which format may differ substantially with the HTML format).

By clicking "I agree" you will also be providing your advanced electronic signature that will affirm:

i. You understand and intend that the Terms and Conditions is a legally binding agreement and the equivalent of a signed, written contract;

ii. You will use all CDC Services, and the CDC Web site generally, in a manner consistent with applicable laws and regulations and in accordance with the Terms and Conditions, Privacy Policy and any other applicable rules, regulations, circulars, notifications, guidelines or other conditions that govern the use of a particular CDC Service as they may be amended by CDC from time to time; and

iii. You understand, accept, and have received these Terms and Conditions, and acknowledge and demonstrate that you can access the Terms and Conditions and other Records and Disclosures on the CDC Web site.

iv. You hereby waive any right to raise any objection to the compliance of the user-id and login with the criteria of an advanced electronic signature.

You agree to be bound by any affirmation, assent or agreement you transmit through the CDC Services you access by computer or other electronic device, including internet, telephonic and wireless devices, including but not limited to any consent you give to receive communications, store, generate or transmit and information or data from us solely through electronic transmission. You agree that, at any time in the future when you click on "I agree", "I consent" or other similarly worded "button" or entry field with your mouse, keystroke or other device, you confirm that all details entered are correct and complete and that your agreement or consent will be legally binding and enforceable and the legal equivalent of your handwritten signature and after use of a log in and user id as an advanced electronic signature.

If you do not agree with these Terms and Conditions, please select "I do not agree" below and click "Submit", you will exit the accessing process for the Website. You should be aware, however, that the use of any CDC Service, including the CDC Web site, is subject to these Terms and Conditions. These Terms and Conditions will always be available for your review as a link at the bottom of the https://www.cdcaccess.com.pk home page. If you click "I agree" below we will create an electronic record of your agreement and you will be able to continue with the registration process. You agree to carefully review these Terms and Conditions.

CDC'S LICENSE TO YOU

CDC grants you a single, non-exclusive, non-transferable and limited personal license to access and use this Web and other Services. This license is conditional on your continued compliance with these Terms and Conditions and all applicable regulations and laws.

YOUR LICENSE TO CDC

Unless otherwise indicated for a particular CDC Web and other Services, any communications or material of any kind that you e-mail, post or otherwise transmit through the CDC Web and other Services, including data, questions, comments, or suggestions (your "Communications”) will be treated as non-confidential and non-proprietary. You hereby grant a license to CDC to reproduce, disclose, transmit, publish, broadcast, or post your Communications either on the CDC Web site or elsewhere with no liability or obligation to you. CDC is free to use any ideas, concepts, know-how, or techniques contained in your Communications for any purpose including, but not limited to, developing and marketing products using such information.

COPYRIGHT

This website and the copyright in all text, graphics, images, software and any other materials on this website is owned by CDC or its licensors. You may only use the materials on this website solely for your own personal use and (except as permitted by these Terms and/or the Terms and Conditions when you registered with CDC (directly or indirectly through a Participant for an account) solely for non-commercial purposes.

You may display on a computer screen or print extracts from this website for the above-stated purpose only and without alteration, addition or deletion. Except as expressly stated herein, you may not without CDC's prior written permission alter, modify, reproduce, distribute or commercially exploit any materials from the website.

You acknowledge that "CDC" and "CDS" are trade marks and trade names of CDC. You may reproduce such trade marks or trade names without alteration on material downloaded from this website to the extent authorised above, but you may not otherwise use, copy, adapt or erase them without CDC's prior written permission.

The names and logos of other companies appearing on this website may be the trade marks and trade names of third parties and are used by CDC with the permission of their respective owners.

DISTRIBUTION

The information provided is not intended for distribution and only for use by authorized persons who have been issued a User ID and Login and are Registered with CDC either directly or indirectly through a Participant. It is the responsibility of recipient to ascertain the terms of and comply with any law or regulation to which they are subject.

THIRD PARTIES MATERIALS AND WEBSITES

This website may contain materials produced by third parties or links to other websites. Such materials and websites are provided by third parties and are not under CDC's direct control and CDC accepts no responsibility or liability in respect of any such third party materials or for the operation or content of other websites (whether or not linked to this website). You acknowledge that CDC shall be entitled to require you to remove any link from another website to this website which you install without obtaining CDC's prior written consent.

There are risks in using any information, software, service or product found on the Internet, and CDC cautions you to make sure you understand these risks before retrieving, using, relying upon, or any data or information or purchasing anything via the Internet. You agree that under no circumstances will you hold CDC liable for any loss or damage caused by use of or reliance on any information, data, content, goods or services available on other sites.

USE OF THIRD PARTY SERVICE PROVIDERS

CDC may use third party service providers to assist in providing certain CDC Services with or without notice to you (each, a "Third Party Service Provider"). CDC may also change Third Party Service Providers or may itself provide a CDC Service without the assistance of such third party. You consent and authorize CDC to delegate the authorizations you provide to CDC to its Third Party Service Provider(s) as CDC deems necessary or desirable to provide the applicable CDC Service to you. You agree that these Terms and Conditions, Privacy Policy, including any of the other terms, conditions, Regulations, warranty disclaimers and liability disclaimers, inure to the benefit of such Third Party Service Providers and such Third Party Service Providers are deemed to be third party beneficiaries of these Terms and Conditions, Privacy Policy, including any other terms, conditions, Regulations, warranty disclaimers and liability disclaimers. You also agree that all references to "CDC" within these Terms and Conditions and any incorporated terms are also deemed to include, where applicable, CDC's agents, such as the Third Party Service Providers.

CDC'S LIABILITY

If you register to become a Customer of CDC and receive Services from CDC, you will be required to accept the CDC's Terms and Conditions and be bound by, amongst others, the Central Depositories Act, 1997, the Central Depository Company of Pakistan Limited Regulations, the Companies Ordinance, 1984 for Registration of an Account (directly or indirectly through a Participant). You also hereby again agree that such Terms and Conditions and the Central Depositories Act, 1997, the Central Depository Company of Pakistan Limited Regulations, the Companies Ordinance, 1984 and the Privacy Policy will govern your relationship with CDC and CDC's liability to you in respect of Services provided thereunder and in use of this Website and/or any Service made available to you through this Website.

Although CDC attempts and makes best efforts to update the website on a regular basis, it does not warrant that the information or materials contained in the website are current or accurate or that any of products or services featured on the website are available. CDC may change the materials appearing on this website at any time without notice.

THE FOLLOWING APPLY TO YOUR USE OF ALL CDC SERVICES:

(a) You will not use any electronic communication feature of a CDC Service for any purpose that is unlawful, tortious, abusive, intrusive on another's privacy, harassing, libelous, defamatory, embarrassing, obscene, threatening or hateful.

(b) You will not upload, post, reproduce or distribute any information, software or other material protected by copyright or any other intellectual property right (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights.

(c) You will not collect or store personal data about other users.

(d) You will not use any CDC Service for any commercial purpose not expressly approved by CDC in writing. You will not upload, post, e-mail or otherwise transmit any advertising or promotional materials, including without limitation, "junk mail," "surveys," "spam," "chain letters," "pyramid schemes," or any other form of solicitation or unauthorized communication.

(e) You will not upload, post, e-mail or otherwise transmit any material that contains viruses or any other computer code, files or programs which might interrupt, limit or interfere with the functionality of any computer software or hardware or telecommunications equipment.

SAVE AS STATED ABOVE IN RESPECT OF THE SERVICES, THIS WEBSITE AND ALL CONTENT INFORMATION, DATA, SOFTWARE, APPLICATIONS AND OTHER MATERIALS ON THIS WEBSITE IS PROVIDED TO YOU ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT WARRANTY AS TO ACCURACY, TIMELINESS OR COMPLETENESS. TO THE MAXIMUM EXTENT PERMITTED BY LAW, ALL REPRESENTATIONS AND WARRANTIES, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WITHOUT LIMITATION ANY WARRANTIES OR CONDITIONS OF OR RELATED TO ACCURACY, CURRENCY, MERCHANTABILITY, SATISFACTORY QUALITY OR FITNESS FOR A PARTICULAR OR ANY PURPOSE ARE HEREBY EXCLUDED.

IN NO EVENT WILL CDC OR ITS THIRD PARTY SERVICE PROVIDERS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY TORT, CONTRACT, STRICT LIABILITY OR ANY OTHER LIABILITY OR OTHERWISE (INCLUDING NEGLIGENCE AND BREACH OF STATUTORY DUTY) ARISING IN CONNECTION WITH THE USE OF A CDC SERVICE, OR RELIANCE ON ANY INFORMATION OR SERVICES PROVIDED BY CDC OR FOR ANY DAMAGE TO YOUR COMPUTER OR COMPUTER SYSTEM OR SETTINGS, LOSS OF DATA, REVENUE OR PROFITS, OR FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY NATURE WHATSOEVER WHICH YOU MAY SUFFER ARISING OUT OF YOUR USE, DELAY IN USING, OR INABILITY TO ACCESS THIS WEBSITE, OR IN ANY OTHER WAY CONNECTED WITH THIS WEBSITE.

CDC AND ITS THIRD PARTY SERVICE PROVIDERS WILL UNDER NO CIRCUMSTANCES BE LIABLE TO YOU AND/OR ANY THIRD PARTY, REGARDLESS OF THE FORM OF ACTION, FOR ANY LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES, OR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR PUNITIVE DAMAGES WHATSOEVER, EVEN IF CDC OR ITS THIRD PARTY SERVICE PROVIDERS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, RESULTING FROM:

(i) THE USE OR THE INABILITY TO USE THE CDC SERVICES;

(ii) THE TIMELINESS, DELETION, MISDELIVERY, OR FAILURE TO STORE ANY USER DATA, COMMUNICATIONS OR PERSONALIZATION SETTINGS;

(iii) THE COST OF GETTING SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY PRODUCTS, DATA, INFORMATION OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO, THROUGH OR FROM THE CDC SERVICES; (iv) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; (v) STATEMENTS OR CONDUCT OF ANYONE ON THE CDC SERVICES;

(vi) THE USE, INABILITY TO USE, UNAUTHORIZED USE, PERFORMANCE OR NON-PERFORMANCE OF ANY THIRD CDC'S LIABILITY PARTY, EVEN IF THE THIRD PARTY HAS BEEN ADVISED PREVIOUSLY OF THE POSSIBILITY OF SUCH DAMAGES; OR

(vii) ANY OTHER MATTER RELATING TO THE CDC SERVICES. YOU AGREE THAT YOU WILL NOT IN ANY WAY HOLD CDC RESPONSIBLE FOR ANY SELECTION OR RETENTION OF, OR THE ACTS OR OMISSIONS OF, THIRD PARTIES (INCLUDING THIRD PARTY SERVICE PROVIDERS) IN CONNECTION WITH THE CDC SERVICES.

CDC DISCLAIMS ANY REPRESENTATION OR WARRANTY THAT THE WEBSITE OR MATERIALS WILL MEET YOUR REQUIREMENTS OR THAT THE WEBSITE AND ALL CONTENT INFORMATION, DATA, SOFTWARE, APPLICATIONS AND OTHER MATERIALS ON THE WEBSITE WILL BE UNINTERRUPTED, SECURE OR FREE FROM ERRORS OR VIRUSES.

REASONABLE EFFORTS HAVE BEEN TAKEN TO SEE THAT THE INFORMATION PLACED ON THIS WEBSITE IS REASONABLY ACCURATE, BUT NO GUARANTEE, WARRANTY OR REPRESENTATION EXPRESS OR IMPLIED WHATSOEVER ON THE PART OF CDC. CDC WILL NOT ACCEPT LIABILITY FOR ANY LOSS OR DAMAGE, INCLUDING WITHOUT LIMITATION TO, ANY LOSS OF PROFIT, WHICH MAY ARISE DIRECTLY OR INDIRECTLY FROM USE OF OR RELIANCE ON SUCH INFORMATION. NO INFORMATION PROVIDED CONSTITUTES INVESTMENT ADVICE. ALL INFORMATION INCLUDED CONSTITUTE A GOOD FAITH ATTEMPT TO REPRESENT THE INFORMATION AVAILABLE WITH CDC ONTO THIS WEBSITE AT THIS DATE, BUT ARE SUBJECT TO CHANGE WITHOUT NOTICE AND MAY REQUIRE RECHECKING BY YOU.

THERE ARE RISKS ASSOCIATED WITH UTILISING AN INTERNET-BASED SYSTEM INCLUDING, BUT NOT LIMITED TO, THE FAILURE OF HARDWARE, SOFTWARE, AND INTERNET CONNECTION AND THOUGH CDC ATTEMPTS TO MAKE REASONABLE EFFORTS TO EMPLOY BACK UP SYSTEMS AND CONTINGENCY PLANS TO MINIMISE THE POSSIBILITY OF SYSTEM FAILURE, CDC DOES NOT CONTROL SIGNAL POWER, ITS RECEPTION OR ROUTING VIA INTERNET, CONFIGURATION OF YOUR EQUIPMENT OR RELIABILITY OF ITS CONNECTION, CANNOT BE RESPONSIBLE FOR COMMUNICATION FAILURES, DISTORTIONS OR DELAYS WHEN TRADING VIA THE INTERNET.

ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE CDC WEBSITE OR SERVICES IS DONE AT YOUR OWN DISCRETION AND RISK AND YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER OR OTHER ELECTRONIC SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM CDC OR THROUGH OR FROM THE CDC SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS.

In any event the limitation of liability for consequential or incidental damages from use of the CDC Website and/or Services shall be capped at Rs. 1,000/- in aggregate and shall under no circumstances exceed such amount for any such loss that may arise due to any action, omission, action or otherwise.

In the event that a court or arbitration panel, as the case may be, should hold that the disclaimer, waiver of liability or limitations of liabilities or remedies available as set forth in these Terms and Conditions, or any portions thereof, are unenforceable for any reason, or that any of your remedies under these Terms and Conditions fail then you expressly agree that under no circumstances will the total, aggregate liability of CDC and its Third Party Service Providers, employees, distributors, agents or affiliates, to you or any party claiming by or through you for any cause whatsoever exceed in aggregate Rs. 1,000/-, regardless of the form of action and whether in contract, statute, tort or otherwise.

USE OF ACCESS DEVICES

With the exception of applications commonly known as Web Browser software, or other applications formally promoted, endorsed or approved by CDC in writing, you agree not to use any software, program, application or any other device to access or log on to any CDC Service, including CDC's computer systems, Website or proprietary software or to automate the process of obtaining, downloading, transferring or transmitting any information, data or any other content to or from any CDC Service, including CDC's computer systems, Website or proprietary software.

NO INVESTMENT ADVICE OR RECOMMENDATIONS

The CDC Services and content (including any information about other Participants or Users or any Issuer) are provided "AS IS" and CDC provides no warranty as to accuracy, completeness or otherwise of such information or data. Nothing contained in any CDC Service or any other content on our Web site constitutes a solicitation, recommendation, endorsement, or offer or accuracy of information of data by CDC or a Third Party Service Provider to buy or sell or as to the fitness, quality or soundness of any securities or other financial instruments.

You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any CDC Service before making any decisions based on such information or content contained in a CDC Service. In exchange for using CDC Services, you agree not to hold CDC or any Third Party Service Provider liable for any possible claim for damages arising from any decision you make based on information made available to you through any CDC Service.

CDC shall execute your Online Transaction Orders or Earmarking Instructions subject to these Terms and Conditions (and your compliance with the same). Online Transaction Orders will be processed as soon as possible (which can be within the same or next Business Day) following the submission of the Online Transaction Order and Earmarking Instructions will be processed in accordance with the Regulations. In each case, this is subject to you providing CDC with:

(a) your Online Transaction Order before [●] on a Business Day. If you provide CDC with your Online Transaction Order after this time or not on a Business Day, you agree that your Online Transaction Order was received by CDC on the following Business Day;

(b) a correctly completed and filled in Online Transaction Order or Earmarking Instruction including all mandatory information required;

(c) sufficient numberof Securities in your Investor Account for the purposes of an Online Transaction Order or Earmarking Instruction; and

(d) valid consent to authorise your Online Transaction Order or Earmarking Instruction, such valid consent is provided when you click “I agree” to these Terms and Conditions.

In the even the above is not complied with, you will not hold CDC liable for any damages resulting from a failure to execute an Online Transaction Order or Earmarking Instruction and CDC’s actions to return Securities to your Investor Account (if required).

You can inspect your transaction history at any time by logging in to the Website. It is very important that you immediately notify CDC if you have reason to believe any of the following activities have occurred:

(i) there has been an unauthorised transaction or instruction sent from your Investor Account;

(ii) there has been unauthorised access to your Investor Account;

(iii) your Login or User ID has been compromised, lost, stolen or deactivated, or

(v) someone has conducted a transfer or submitted an instruction from your Investor Account without your permission. You must also immediately notify CDC if you have reason to believe that any other error has occurred on your Investor Account. In order for you to notify CDC immediately of any of the above events, CDC strongly recommends that you monitor your Investor Account closely on a regular basis. CDC will hold you liable for unauthorised use of your Investor Account if CDC has evidence that you acted deliberately so as to enable any third person to gain access to your Login or User ID; you acted fraudulently; or if you have with intent or gross negligence failed to comply with your obligations to use your Online Transaction Order in the manner set out in these Terms and Conditions.

INDEMNITY

You agree to indemnify, defend and hold CDC, its parents, subsidiaries, affiliates, directors, officers and employees harmless from any loss, cost, damage, claim or demand, including reasonable legal fees, made by any third party or incurred or suffered by CDC or its parents, subsidiaries, affiliates, officers or employees in connection with your use of the website:

(a) in breach of these Terms and Conditions,

(b) in a reckless manner, or

(c) negligently or otherwise, for any reason whatsoever.

YOUR INFORMATION

In addition to any obligations that you may have if you register to become a user of CDC and/or this Website and/or its Service, you agree to ensure that all information which you provide to CDC is complete and accurate to the best of your knowledge and belief. You agree to notify CDC immediately of any changes to the details you have provided to enable CDC to keep its records up to date and accurate. The information that you provide about yourself to CDC will only be used by CDC in accordance with its Privacy and Security Policy and otherwise in accordance with the any data protection legislation that may exist or when its is enacted to such legislation in Pakistan.

MONITORING BY CDC

CDC, its affiliates and agents are entitled, but not obligated, to review or retain your Communications. CDC and our Third Party Service Providers may monitor your Communications to evaluate the quality of service you receive, your compliance with these Terms and Conditions, the security of the CDC Services, or for other reasons. You agree that these monitoring activities will not entitle you to any cause of action or other right with respect to the manner in which CDC or its Third Party Service Providers monitor your Communications and enforce or fail to enforce the Regulations, Rules and Guidelines of any CDC Service and these Terms and Conditions. In no event will CDC or its Third Party Service Providers be liable for any costs, damages, expenses or any other liabilities incurred by you as a result of any monitoring activities.

MODIFICATIONS, SUSPENSIONS AND TERMINATIONS OF CDC SERVICES

CDC reserves the right to modify or discontinue temporarily or permanently, a CDC Service (or any part thereof) with or without notice. You agree that CDC will not be liable to you or to any third party for any modification, suspension or discontinuance of a CDC Service. Please keep in mind that extended periods of inactivity may also result in your enrollment in a CDC Service being canceled. The license granted under the SOSA will terminate if CDC believes that any information provided by you, including your e-mail address, is no longer current or accurate, or if you fail to otherwise comply with any term or condition of the SOSA and all Rules and Guidelines for each CDC Service. Upon such violation, you agree to terminate access to the CDC Services.

NOTICES / COMMUNICATIONS

You agree to accept all communications from us regarding use of the CDC Services at the addresses you provide during Registration. Please promptly notify any changes to your registration information through the Web Service and/or directly inform CDC. CDC is entitled to rely on the e-mail address and mail address that you last provided to us. You agree to waive all claims resulting from failure to receive communications because of changes in your e-mail or mail address. From time-to-time we would like to send you information about CDC products and services. If you register for a CDC Service, you are granting CDC permission to communicate with you by e-mail. You can opt not to receive such information from us in the future by following the instructions in any e-mail that we send to you.

ENTIRE AGREEMENT

These Terms and Conditions (and, if relevant, the Terms and Conditions and the CDC Act and its Regulations, including its Privacy Policy agreed to when registering with CDC or any of its Participants) contain the entire agreement between you and us relating to your access and use of this website. CDC may change these Terms and Conditions and/or its Regulations and/or its Privacy Policy at any time and will notify you of such changes by posting an updated version of these Terms and Conditions and/or its Regulations and/or its Privacy Policy on this website. You are responsible for regularly reviewing these Terms and Conditions and/or its Regulations and/or its Privacy Policy and if you use this website after any such changes are published, such use shall constitute and deemed to be your agreement to such changes as well as notice of such Terms and Conditions and/or its Regulations and/or its Privacy Policy.

AMENDMENTS TO THESE TERMS AND CONDITIONS

You agree that CDC may make changes to these Terms and Conditions from time to time for any reason. This document was current as at [16 February 2015].

APPLICABLE LAW

This website (including these Terms and Conditions) shall be governed by Pakistani law and the Pakistani courts shall have exclusive jurisdiction over any disputes arising from this website.

CLICK "I AGREE" FOR YOUR SIGNATURE

As noted above in the second paragraph above and the "Use of the User ID and Login", by clicking "I agree" you will be signing these Terms and Conditions with a binding advanced electronic signature (as a result of the use of your User ID and Login), and you acknowledge that you have read and understood these Terms and Conditions.

i. “I AGREE” By choosing this option and clicking Submit I am agreeing to be irrevocably and unconditionally bound by all the above Terms and Conditions, which I have read and understood.

ii. “I DO NOT AGREE” By choosing this option and then clicking Submit I demonstrate my intention not to be bound by the Terms and Conditions above and therefore I will not be accessing Services and CDC Website.