Updates to the Share Trading Terms and Conditions (formerly called House Rules) and the Subscriptions, Packages, and Alerts Terms and Conditions effective 1 November 2023.

Share Trading Terms and Conditions (formerly called House Rules):

We have made the following changes to the Share Trading Terms and Conditions which will take effect from 1 November 2023:

1. Updated the document title from ‘House Rules’ to ‘Westpac Share Trading Terms and Conditions’.
   
   Terms and Conditions of Online Access (for information services and internet trading):
   
   
2. Under Section 2.0 Limited right of access:
• Sub-section 2.4: Added to the right to terminate or suspend Your access to the Trading Site and the Services: “acting reasonably in relation to ongoing compliance with a regulatory requirement or law; or where it’s necessary to protect the Broker’s legitimate interests; or it is reasonable in the circumstances to do so.”
3. Under Section 4.0 Your instructions:
• Sub-section 4.10: Added to the clause whereby you appoint the Participant as your attorney upon receiving your instructions: “If You do not wish to have the Participant act as Your appointed attorney, please contact our Customer Relations team on 1300 135 187 to discuss this further as we may not be able to continue to provide services to You.”
• New sub-section 4.11: “We may give you access to our chat service on the Trading Site (“webChat”), where you may chat with a virtual assistant (bot) or a member of our staff. The following sets out our terms of use for webChat:
  (a) webChat is only available for assistance with self-service enquiries and cannot be used to submit any trade orders or other instructions;
  (b) we will only provide general information on webChat relating to self-service enquiries;
  (c) if your computer or device has been compromised or accessed by a third party, please do not proceed with webChat and instead call our Customer Relations Team;
  (d) AUSIEX’s Privacy Policy available online applies to your use of webChat. We request that you do not provide any Personal Information in webChat;
  (e) use of webChat constitutes acceptance of these terms and conditions.”
• Updated subsequent numbers following 4.11.
• Sub-section 4.12 (previously 4.11):
• Replaced: “You authorise the Participant to record any telephone communications between Yourself, Your authorised representative(s) and the Participant, with or without an audible tone-warning device. You acknowledge that any recording is the Participant’s property and that the Participant reserves the right to charge You a cost recovery fee for access to a recording. You shall record all relevant details of any conversation You have with us, including the name of the operator and the date and time of the call, and You acknowledge that the Participant will ask You for this information when You seek access to a recording.”
• With: “You authorise the Participant to record any telephone or written communications between Yourself, Your authorised representative(s) and the Participant, with or without an audible tone-warning device. You acknowledge that any recording or written communication is the Participant’s property and that the Participant reserves the right to charge You a cost recovery fee for access to a communication. You may wish to record all relevant details of any conversation You have with us, including the name of the operator and the date and time of the communication, and You acknowledge, if you have this information available, that the Participant may ask You for this information, to assist us when You seek access to a communication. If you do not wish to have Your call recorded, please advise our customer services representative who will discuss alternative communication options with You.”
4. Under Section 6.0 Use of information: Re-ordered sub-section 6.2 – 6.4 (a) – (d) as 6.2 (a) – (g):
• Replaced:
6.2 “You acknowledge that the use or access of the Trading Site will not be free from any fault, error or defects in design or engineering.
6.3 You acknowledge that the transmission speed, format or content of the Information and Derived Information may be changed without any prior notice.
6.4 You acknowledge that:

(a) the Information and Derived Information have been prepared and distributed for general information only, and are without consideration to Your or any person’s investment objectives, financial situation or particular needs;
(b) the Information and Derived Information are not a recommendation that a particular course of action is suitable for You or any person;
(c) the Information and Derived Information may not be appropriate to You and that any decision made by You is based on Your own judgement or on independent advice, but in no case relies on the Information or Derived Information or any part of it; and
(d) the Information may be subject to additional conditions imposed by third party data owners and third party data providers.”
• With: “6.2 You acknowledge that:
(a) the use or access of the Trading Site will not be free from any fault, error or defects in design or engineering; and
(b) the Participant will, after becoming aware of any fault, error or defects in design or engineering resolve the issue as soon as practicable; and
(c) the transmission speed, format or content of the Information and Derived Information may be changed without any prior notice; and
(d) the Information and Derived Information have been prepared and distributed for general information only, and are without consideration to Your or any person’s investment objectives, financial situation or particular needs; and
(e) the Information and Derived Information are not a recommendation that a particular course of action is suitable for You or any person; and
(f) the Information and Derived Information may not be appropriate to You and that any decision made by You is based on Your own judgement or on independent advice, but in no case relies on the Information or Derived Information or any part of it; and
(g) the Information may be subject to additional conditions imposed by third party data owners and third party data providers.”
5. Under Section 7.0 Fees:
• Sub-section 7.1:
Replaced: “You agree to pay subscription fees, royalty charges and any other charges as specified by the Participant from time to time. You also agree to reimburse the Participant for any fees, taxes, consumption or value-added tax or any other charges levied in relation to Your use of the Services. The Participant reserves the right to vary such fees and charges, and the method of charging at any time, without prior notice.”
With: “You agree to pay subscription fees, royalty charges and any other charges as specified by the Participant from time to time. You also agree to reimburse the Participant for any fees, taxes, consumption or value-added tax or any other charges levied in relation to Your use of the Services. Subject to any minimum notice period required by the law, the Participant may vary such fees and charges, by giving You and/or any of Your authorised agents, pursuant to clause 10.3, no less than seven (7) days’ notice of any variation in writing on the client portal on our website.”
• Sub-section 7.3: Added: “to the extent permitted by law.”
6. Under Section 8.0 Release:
• Sub-section 8.1: Added: “(except to the extent resulting from or caused by our negligence, willful misconduct, fraud or dishonesty).”
7. Under Section 10.0 Variation and termination:
• Sub-section 10.2:
Replaced: “The Participant may terminate Your access to the Trading Site and Services at any time and without prior notice, subject to all outstanding obligations being duly discharged, if, for example, we suspect that:”
With: “The Participant may terminate Your access to the Trading Site and Services at any time and without prior notice, acting reasonably in relation to ongoing compliance with a regulatory requirement or law; or where it is necessary to protect the Broker’s legitimate interests; or it is reasonable in the circumstances to do so, subject to all outstanding obligations being duly discharged, if, for example, we suspect that:”
• Sub-section 10.3:
Replaced: “The Participant reserves the right to vary these terms and conditions to: …”
With: “The Participant reserves the right to vary these terms and conditions (acting reasonably in relation to ongoing compliance with a regulatory requirement or law, or where it is necessary to protect the Broker’s legitimate interests; or it is reasonable in the circumstances to do so) to:”
8. Removed Section 12.0 Dispute resolution and updated subsequent numbers.
   
   Terms and Conditions of Your Share Trading Account:
   
   
9. Section 2.0 General
• Sub-section 2.7:
Replaced: “You acknowledge that the Participant reserves the right to terminate or suspend Your Account at any time without prior notice, if, for example, we suspect that:”
With: “You acknowledge that the Participant reserves the right to terminate or suspend Your Account at any time without prior notice, acting reasonably in relation to ongoing compliance with a regulatory requirement or law, or where it is necessary to protect the Broker’s legitimate interests; or it is reasonable in the circumstances to do so, if, for example, we suspect that:”
• Sub-section 2.10: Added: “If You do not want to transfer to a new Cash Account or You consider the new Cash Account is not suitable for you, please contact our Customer Relations team on 1300 135 187, who can assist You further.”
• Sub-section 2.11:
Replaced: “We do not enter into trades with You on our behalf, except to close out an error position. We may trade with You on behalf of one of our related body corporates.”
With: “We do not enter into trades with You on our behalf, except to close out an error position. You acknowledge that:
(a) The Broker and its related bodies corporate may enter into Transactions in securities and other financial products as “Principal” (as defined in the ASX Rules). Where required by law or pursuant to clause 2.11, the Broker may take the opposite position in such a Transaction with the Customer, acting either for another client or on its own account.
(b) The Client consents to the Broker and its related bodies entering into such Transactions with the Client. In relation to commission on such Transactions:
(i) the Broker is entitled to received commission from both parties, where the Client’s Order matches an existing order placed by another client of the Broker: and
(ii) the Client consents to the Broker charging the Client a commission, where the Client is a wholesale client (as defined by the Corporations Act) and the Client’s Order matches an existing order placed by the Broker as a principal trade.”
10. Section 3.0 Security Identification
• Sub-section 3.5: Deleted: “This is the safest policy.”
11. Section 5.0 Instructions:
• Sub-section 5.11: Added to the clause whereby you appoint the Participant as your attorney upon receiving your instructions: “If you do not wish to have the Participant act as Your appointed attorney, please contact our Customer Relations team on 1300 135 187 to discuss your options, as we may not be able to continue to provide services to you.”
• Sub-section 5.12:
Replaced: “You authorise the Participant to record any telephone communications between Yourself, Your authorised representatives and the Participant, with or without an audible tone-warning device. You acknowledge that any recording is the Participant’s property and that the Participant reserves the right to charge You a cost recovery fee for access to a recording. You shall record all relevant details of any conversation You have with us, including the name of the operator and the date and time of the call, and You acknowledge that the Participant will ask You for this information when You seek access to a recording.”
With: “You authorise the Participant to record any telephone and written communications between Yourself, Your authorised representatives and the Participant, with or without an audible tone-warning device. You acknowledge that any recording or written communication is the Participant’s property and that the Participant reserves the right to charge You a cost recovery fee for access to a communication. You shall record all relevant details of any conversation You have with us, including the name of the operator and the date and time of the communication, and You acknowledge that the Participant will ask You for this information when You seek access to a communication. If you do not wish to have Your call recorded, please advise our customer service representative who will discuss alternative communication options with You.”
• Sub-section 5.18: Added: “If requested by You, we will, if required under the Market Integrity Rules, give You a statement of all the individual prices of the relevant transactions which are accumulated and averaged in a confirmation.”
12. Section 6.0 Straight through processing:
• Sub-section 6.5:
• Replaced: “The Participant reserves the right to terminate Your access to STP at any time in the Participant’s absolute discretion.”
• With: “The Participant reserves the right to terminate Your access to STP at any time in the Participant’s discretion, acting reasonably in relation to ongoing compliance with a regulatory requirement or law; or where it is necessary to protect the Broker’s interests; or it is reasonable in the circumstances to do so.”
13. Section 7.0 Payments and identity:
• Sub-section 7.1:
Replaced: “You will pay the Participant brokerage fees and charges as specified by the Participant from time to time; and reimburse the Participant for any fees, taxes, consumption or value-added tax, stamp duty or any other charges levied in relation to each transaction. The Participant reserves the right to vary such fees and charges, and method of charging, at any time and without prior notice.”
With: “You will pay the Participant brokerage fees and charges as specified by the Participant from time to time; and reimburse the Participant for any fees, taxes, consumption or value-added tax, stamp duty, domestic and foreign taxes (if applicable) or any other charges levied in relation to each transaction. The Participant reserves the right to vary such fees and charges, and method of charging, at any time and without prior notice, acting reasonably in relation to ongoing compliance with a regulatory requirement or law; or where it is necessary to protect the Broker’s interests; or it is reasonable in the circumstances to do so.”
• Sub-section 7.3: Added: “to the extent permitted by law.”
• Sub-section 7.4: Added: “to the extent permitted by law.”
• Sub-section 7.7: Added: “(except to the extent resulting from or caused by Participant fraud, willful misconduct, dishonest and negligence.”
14. Section 12.0 Variation and termination:
• Sub-section 12.4: Added: “acting reasonably in relation to ongoing compliance with a regulatory requirement or law; or where it is necessary to protect the Broker’s interests; or it is reasonable in the circumstances to do so…”
• Sub-section 12.5: Added: “acting reasonably in relation to ongoing compliance with a regulatory requirement or law; or where it is necessary to protect the Broker’s interests; or it is reasonable in the circumstances to do so.”
15. Section 13.0 Notice:
• Sub-section 13.2:
• Replaced: “You further acknowledge that the conditions set out in Part 3.4 of the ASIC Market Integrity Rules and part 7.3 of the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011 Rules apply to such confirmations. Any confirmation sent to You by such electronic communication shall be deemed to be received on the day it was sent.”
• With: “You further acknowledge that the conditions set out in Part 3.4 of the ASIC Market Integrity Rules apply to such confirmations. Any confirmation sent to You by such electronic communication shall be deemed to be received on the day it was sent.”
16. Removed Section 14.0 Dispute resolution and updated subsequent numbers.
    
    
17. Section 17.0 Complaints (previously 18.0)
• Removed sub-sections a) – f) and replaced with new sub section 17.1:“If You are not satisfied with the service or advice You receive from us, You are entitled to complain. We have established procedures to ensure all enquiries and complaints are dealt with. For more detail about our complaints process and the relevant internal and external parties you can contact to assist You further, please see our Financial Services Guide under the section ‘Complaints.”
Terms and Conditions Conditional Trading:


18. Under ‘General’:
• Point 28
Replaced: “Without limiting our rights under paragraphs (a) to (f), we may from time to time change any of the terms and conditions for reasons other than the ones mentioned above (e.g. due to unforeseen events).”
With: “Without limiting our rights under paragraphs (a) to (f), we may from time to time change any of the terms and conditions for reasons other than the ones mentioned above. For example, due to unforeseen events; or acting reasonably in relation to ongoing compliance with a regulatory requirement or law; or where it is necessary to protect the Broker’s legitimate interests; or it is reasonable in the circumstances to do so.”
• Point 32: Added:“except to the extent resulting from or caused by our negligence, willful misconduct, fraud or dishonesty”
Terms and Conditions of Participant Sponsorship Agreement:


19. Section 4 Participant Sponsored Holder’s Rights:
• New sub-section 4.5: “The Participant Sponsored Holder is entitled to receive an executed copy of this Agreement from the Participant but acknowledges that the Participant shall not be required to provide such copy unless requested by the Participant Sponsored Holder.”
20. Section 10 Claims for Compensation:
• Sub-section 10.4: Removed: “The Participant Sponsored Holder is entitled to receive an executed copy of this Agreement from the Participant but acknowledges that the Participant shall not be required to provide such copy unless requested by the Participant Sponsored Holder.”
21. Section 12 Variation:
• Sub-section 12.1: Replaced: “seven Business Days” with “seven (7) days.”

Subscriptions, Packages, and Alerts Terms and Conditions effective 1 November 2023.

We have made the following changes to the Subscriptions, Packages, and Alerts Terms and Conditions which will take effect from 1 November 2023:.

Updated all references to ‘House Rules Westpac Securities’ to ‘Westpac Share Trading Terms and Conditions’.

You can view the latest documents on our website under Contact & Support > Forms > Download Forms. Should you have any questions about these changes, please contact us.