LOAN FUND COMPANIES ACT 1976 - SCHEDULE 1
LOAN FUND COMPANIES ACT 1976 - SCHEDULE 1
SCHEDULE 1
Part 1 - Notice to purchaser--right of cancellation
1.
You have for a short period a legal right to cancel the contract that you entered into with *for the acquisition of †on the ‡the day of19.
2.
You can cancel the contract by giving notice to the company at §before the end of the period of 1 month after the day on which you entered into the contract.
3.
You can give the notice by posting it in a prepaid letter, or by delivering it, to the company at the address shown in paragraph 2 of this notice.
4.
If you exercise your right to cancel the contract within the period referred to in paragraph 2 of this notice, any money you have paid under the contract is repayable and must be refunded to you.
5.
‖(a) The company does not give any undertaking as to the period within which you will, should you eventually become a member of the company, receive a loan from the company.
‖(b) The company undertakes that you will be entitled to a loan from the company of the amount specified in paragraph 9 of this notice not later than the ‡day of19.
¶6
The amount that you are required to pay is $on or before theday of each month. That amount is made up of $in respect of, $in respect ofand $in respect of.
7.
If you do not exercise your right to cancel the contract, any money that you have paid under the contract will be repayable to you or your representative only in the circumstances mentioned in paragraph 8 of this notice.
8.
If you forfeit or surrender shares allotted to you, or an option granted to you to acquire shares, you must not expect to be repaid the whole of the amount that you have paid for the shares or option and the company is not, unless any provision of the memorandum or articles of association of the company or the prospectus relating to those shares or that option obliges it to do so, obliged by the Loan Fund Companies Act 1976 to make repayment of any amount due to you in respect of the shares or option until the expiration of 3 years from the date on which the shares were, or the option was, forfeited or surrendered, although the company may make the repayment within that period if it so wishes.
**9.
The maximum amount of loan that you may receive from the company is $and you would be required to provide as security for that loan the following:
10.
You are reminded that your application is subject to the terms of the prospectus dated the ‡day of19that has been given to you and you are advised to read that prospectus.
* The name of the loan fund company concerned to be inserted.
† Particulars of the number and nominal value of shares to be allotted or, as the case may be, to which the option relates to be inserted.
‡ Particulars of relevant date to be inserted.
§ The address of the loan fund company concerned to be inserted.
‖ Subparagraph (a) or subparagraph (b), whichever is inapplicable, to be deleted.
¶ Total amounts, payment intervals and composition of amount payable to be inserted.
** Particulars of amount and nature of security that would be required to be inserted.
Part 2 - Requirements as to statutory statement
1.
The statement set out in Part 1 of this Schedule shall appear on the contract on the page which contains particulars of the shares or option that are or is the subject of the contract.
2.
In the statement:
(a) the lettering shall be roman or upright sanserif, and
(b) the height of the smallest letter shall be not less than 3 millimetres.
3.
The requirement referred to in paragraph 2 (a) does not apply to any part of the statement which consists of handwriting.
4.
The words "NOTICE TO PURCHASER--RIGHT OF CANCELLATION." shall be in bold capital letters not less than 10 millimetres in height, but, except for those words, the initial letters of other words and any part of the statement which consists of handwriting, lettering in the statement shall not be in capital letters.
5.
The statement shall be legible and shall be capable of being easily read by a person with normal vision.
6.
Except in the case of particulars required to be inserted in the statement, the contents of the statement shall not consist of handwriting or a reproduction of handwriting.