THE GOJI SERVICE
- Goji Financial Services Limited, is authorised and regulated by the Financial Conduct Authority under firm reference number 805323. References in these Terms and Conditions to “Goji”, “we”, “us” and “our” are to Goji Financial Services Limited.
- The Goji service is available to investors that become members through our website. We provide members with details of potential investments, such as bonds issued by Goji Investment Holdings Limited (“GIHL”) or its subsidiary undertakings (also known as special purpose vehicle companies (“SPVs“)), set up to make investments (including, without limitation, entering loans, acquiring debt securities and purchasing debt receivables through online lending platforms) as set out in the relevant Investment Brochure on our website.
- Goji or its associates shall provide the directors for GIHL and shall manage the SPV’s investment portfolio and have oversight of the SPV’s risk management. The investment management agreement for each SPV shall be made available on our website.
- If you are eligible for membership, you can invest online and receive online investment reports.
- We will treat all members as retail clients for the purposes of the Financial Conduct Authority’s rules (retail clients receive the highest degree of regulatory protections under those rules).
- As a member of Goji, you are bound by these Terms and Conditions in relation to your use of our website and your participation in investment opportunities. Users of the website who are not members are also bound by these terms insofar as they are capable of application to non-members. By using the Goji website, you confirm that you have read, understood and agree to these Terms and Conditions and our Privacy and Cookies Policy about.gojip2p.com/privacy-policy (each as amended from time to time). If you do not agree to the Terms and Conditions, you must stop using the website immediately.
- We make details of investment opportunities available to all users of our website, but only members are able to apply to invest or view investment offers by logging in at https://platform.goji.investments/investments/account/register.
- In order to become a member of Goji, you will need to apply to join and be approved by us. We reserve the right to reject applications on such grounds as we see fit, including, without limitation, your knowledge and understanding of investing, your financial status, your capacity to be bound by these Terms and Conditions or the jurisdiction in which you live or are a citizen.
- Provided that we accept your application to become a member, you will then be able to view the investment offers available through the Goji platform.
- Only members can invest, so your application for membership should be completed in the name of the same person that will invest.
- You will be required to provide personal details and a password to register as a member, which are unique to your individual Goji membership and are not transferable. Your registration details and password are how we identify you and so you must keep them secure at all times.
- You are responsible for all information and activity on the platform by anyone using your details. If you authorise an agent, family member, employee or sub-contractor to use Goji account you will be responsible for their activity on the platform. Any breach of security, loss, theft or unauthorised use of your security details must be notified to us immediately. We reserve the right not to act on your instructions where we suspect that the person logged into your Goji account is not you or we suspect illegal or fraudulent activity or unauthorised use.
- You agree not to adapt or circumvent the systems in place in connection with the platform, nor access our systems other than by using the credentials assigned to you and by following the instructions that we have provided for that type of connection.
MAKING INVESTMENTS THROUGH THE PLATFORM
- If you wish to subscribe for an investment, you will need to specify the size of the investment you wish to make and place funds in your Goji account.
- Whether we choose to accept your application to invest will be at our discretion, even if you are a member and satisfy our eligibility criteria, for example, because the offer is over-subscribed or under-subscribed or because of legal or regulatory matters. The allocation policy for each investment is based on a first-come-first-served basis, by reference to the time your Goji account is funded. If it is not possible to allocate investments to you, we may hold your subscription for participation in a subsequent issue of like investments, although you will be entitled to request to have your unallocated subscription monies returned to you until they have been committed.
- All bonds will be governed by the terms of the Bond Instrument; the Investment Brochure; the Investment Management Agreement and these Terms and Conditions. To the extent that there are any inconsistencies between these documents, the provisions of the Bond Instrument shall prevail over the Investment Brochure, which shall prevail over the Investment Management Agreement, which shall prevail over these Terms and Conditions.
- We do not provide investment advice, legal advice or tax advice. In particular, we will not assess the suitability of an investment in light of your personal circumstances and you are responsible for making your own investment decisions. If you are in any doubt as to your own personal circumstances, you should seek such advice from an appropriately qualified professional.
- We will not facilitate investment where we are aware that it is illegal, although it is your responsibility to ensure that you have complied with any relevant legal or regulatory restrictions that would prohibit you from investing.
- We will typically offer bonds where the SPV has the right to defer redemption to the extent that it has not yet received sufficient returns from the underlying investments to redeem. In such circumstances, the SPV will generally partially redeem the bonds and pay through sums it recovers as soon as practicable. SPVs generally have the right to defer full redemption until 5 years after the target redemption date. The provisions of the bond instrument shall determine the redemption process.
- Our SPVs may issue more than one series of bond. Where they do so, a default on one bond series may mean that all bondholders suffer a corresponding loss. The activities of each SPV shall be limited to issuing and investing the proceeds of bonds, so a default is only likely if the underlying investments do not perform.
YOUR MONEY AND INVESTMENTS
- If we accept your application to make an investment, we will provide you with bank account details into which you should transfer your subscription amount (your “Goji account“). Payment must be made by electronic transfer from a bank account in your name whose details you provide to us and which we have accepted (your “Nominated Account”), into your Goji account, where subscriptions will be held pending investment. The Goji account will be held by and administered by Starling Bank Limited as a client account and will be kept separate from Starling’s own money in accordance with FCA rules. We may take over control of the Goji account at any time and you authorise Starling Bank Limited to transfer any monies it holds for you in the Goji account to us or to such other person as we may nominate in such circumstances without seeking your express instruction to do so.
- When an SPV issues investments to you, your subscription monies shall be paid from your Goji account to the SPV’s account for onward investment by the fund manager and payment of our fees.
- Your bonds will not generally have voting rights attached to them, but you will be entitled to vote on any amendments we may propose to the bond instrument.
- You may request any of your cash that has not been allocated to an investment, including investment returns, to be paid back into your Nominated Account. If you wish to replace your Nominated Account, you may request to do so by email. Any alternative account must be in your name and be held with a bank or credit institution that is acceptable to us.
- Payments to you will be made after deduction of any relevant tax. Regardless of whether we withhold tax, it is your responsibility to account for any taxes that may be payable to the appropriate authorities.
- You can view details of the investments and money in your portfolio through the Goji website. For reporting purposes, we will value your bonds by reference to their nominal value and will only report interest after it has accrued on payment.
- If you want us to hold money that has not been allocated in your Goji account in order to invest in future opportunities, you may do so. No interest is payable on money held in the Goji account and no fees are charged in respect of establishing the account. Goji may retain a payment representing interest on the money held in the Goji account.
- Goji will, where applicable, treat money in your Goji account as Client Money in accordance with the FCA’s Client Money Rules. Client Money will be held in an approved bank account under the FCA Rules. Goji will use reasonable skill and care for the selection, use and monitoring of Approved Banks, as defined by the Client Money Rules, with which Client Money is held but will not be liable for their acts or their insolvency.
- All uninvested cash in your Goji account will be held in a Client Money bank account with Starling Bank Limited.
- You should note that unless otherwise agreed the Client Money will be held in a pooled account and will not be separately identifiable from Client Money of other clients of Goji or its associates on Starling Bank’s books and records. Accordingly, should Goji default on its obligations to its clients, any shortfall in Client Money held by Starling Bank Limited may be shared pro-rata among all clients whose money is held in the pooled client money account.
- Where a bank with which Goji holds Client Money fails (including the appointment of a liquidator, receiver, administrator, or trustee in bankruptcy, or any equivalent) this will constitute a secondary pooling event under the FCA Rules. The consequences of the failure of a bank holding Client Money for Goji’s clients include that there may be a shortfall in the funds held for you so that you may incur a potential loss.
- Where a Client Money balance remains unclaimed and provided Goji has taken the following reasonable steps to trace the client and return the balance, Goji may cease to treat the money as Client Money and pay the Client Money to a registered charity of Goji’s choice. Goji must, except in the case of aggregate Client Money balances of £25 or less:
- determine that there has been no movement on the client’s balance for a period of at least six years (ignoring any payments or receipts of charges, interest or similar items);
- determine, as far as reasonably possible, the correct contact details of the client;
- write to the client at the last known address (either by post of e-mail) informing the client of the intention of no longer treating that balance as Client Money and to pay the sums concerned to charity, giving the client 28 days to make a claim;
- where the client does not respond after 28 days, attempt to communicate the information in (c) above to the client on one further occasion by any means other than that used in (c), including by post, e-mail, telephone or media advertisement;
- where the client has not responded within a further 28 days following the communication in (d), write to the client by post or e-mail at the client’s last known address informing the client that as Goji has not received a claim for the Client Money, Goji will in 28 days’ pay that sum to a registered charity and provide an undertaking to pay to the Client an equivalent sum if the client seeks to claim the Client Money in future. This sub-clause (e) does not apply if Goji has obtained confirmation that none of the contact details held for the client is accurate or that the communication is unlikely to reach the client;
- make and retain records of all balances released from client bank accounts all relevant documentation (including charity receipts) and details of all actual or attempted communications in accordance with this clause 5; and
- undertake to make good any valid claim against any released balances.
- Your Goji account is non-interest bearing and no interest accrues on the Client Money deposited within it or is repayable to you.
- There is no established secondary market for bonds available through the platform and so you should normally expect to hold your investments until the redemption date, or beyond, if there is a significant default on the underlying investments.
- If you find a buyer for your bonds, you may sell them through us by providing us with details of the purchaser, the price to be paid and the number of bonds to be sold. If the buyer wishes us to account to them for the investment proceeds, they will need to be registered as a Goji member (although we shall be able to refuse to accept membership applications at our absolute discretion). We may charge fees for registering the transfer as set out in the Fees section of our website from time to time.
FEES AND CHARGES
- The Investment Brochure, contained within the Investment Brochure, relating to the relevant SPV, will set out full details of the relevant fees, which are charged on an investment by investment basis, although generally, we will charge fees to the SPV.
- We may, where provided for in the Investment Brochure, charge fees to investors in respect of investment transfers made pursuant to clause 6. No such fee shall be charged upon death or incapacity of a member.
- If you no longer want to be a member of Goji, provided you have no investments with us, you can let us know by email and we will end your membership straight away. Termination will not affect the terms of any investment you have entered into.
- We may terminate your membership in respect of making new investments at any time and for any reason, including but not limited to breach of these Terms and Conditions, applicable law, mis-use of our website or account inactivity for a period of 12 months or more. If you hold investments through us, our cancellation of your membership will not affect the charges we will levy to the SPV and we will continue to maintain your account in accordance with clause
CONFLICTS OF INTEREST
- We will generally provide the directors to the SPV and work as investment manager. If there is a default on your investment by the SPV, we will ensure that the terms of the bond instrument are adhered to and seek to procure the appoint independent directors to the SPV if we deem it to be in your interests.
- We will not knowingly permit the investment of bond proceeds into any investment from which we or an associate of ours may benefit directly or indirectly.
- Conflicts that are specific to a particular investment shall be disclosed in the Investment Brochure.
- You may request a copy of our full conflicts of interest policy at any time.
COMPLAINTS AND COMPENSATION
- We have established procedures in accordance with the Financial Conduct Authority’s rules for the effective consideration of complaints. Please contact us to request a copy of our complaint handling policy.
- If you are still unhappy with the outcome of a complaint, you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone 0800 023 4567 or email [email protected].
- We participate in the Financial Services Compensation Scheme (the “FSCS“). If we owe you money in connection with the Goji service and are unable to pay it, then you may be entitled to compensation from the FSCS, up to a maximum of £50,000.
- If the bank with which your Goji account is held becomes insolvent, this will not be our responsibility. The maximum compensation available from the FSCS in respect of money held in a bank account is £75,000.
- For more information you can contact the FSCS in writing at 7th Floor, Lloyds Chambers, Portsoken Street, London, E1 8BN by telephone on 0800 678 1100, by email to [email protected] or by going to www.fscs.org.uk.
- You shall be liable to us for any loss or damage suffered by us as a result of any breach of these Terms and Conditions or the terms of any investment you make through Goji.
- We shall not be liable to you for any loss or damage which you may suffer as a result of being a member of Goji or using the Goji services except where such loss or damage arises from our breach of these Terms and Conditions or was caused by our negligence, wilful default or fraud. We are not responsible for any breach of these Terms and Conditions arising from circumstances outside our reasonable control. Our total liability to you in connection with these Terms and Conditions, your membership of Goji and your use of the services provided via the platform shall not exceed the amount of money you have invested giving rise to the liability.
- Nothing in these Terms and Conditions shall limit our liability for personal injury or death, fraud, nor for any other liability, the exclusion or limitation of which is not permitted by applicable law or regulation.
- When we make forward-looking statements, we will base them on reasonable assumptions, but we shall not otherwise be responsible for the achievement of such statements where they are outside of our control.
- Subject to clause 12.3 below, as between you and us, we own all present and future copyright, registered and unregistered trademarks, design rights, unregistered designs, database rights and all other present and future intellectual property rights and rights in the nature of intellectual property rights existing in or in relation to the platform.
- If and to the extent that any such intellectual property rights vest in you by operation of law or otherwise, you agree to do any and all such acts and execute any and all such documents as we may reasonably request in order to assign such intellectual property rights back to us.
- You shall retain ownership of all copyright in data you upload or submit to the platform. You grant us a world-wide exclusive, royalty-free, non-terminable licence to use, copy, distribute, publish and transmit such data in any manner.
We may need to update or amend these Terms and Conditions from time to time to comply with law or to meet our changing business requirements. We may make such changes without your specific agreement where those updates are, in our reasonable opinion, of an immaterial and routine nature and may not always be able to give you advanced notice of such updates or amendments but we will always post them on our website, so you can view them when you next log in. By continuing to use the Goji service, you agree to be bound by the terms of any such updates and amendments.
- These Terms and Conditions are governed by and to be construed in accordance with English law. In the event of any matter or dispute arising out of or in connection with these Terms and Condition, you and we shall submit to the non-exclusive jurisdiction of the English courts.
- If any of these Terms and Conditions is found to be illegal, invalid or unenforceable by any court of competent jurisdiction, the remainder shall, so far as possible, continue in full force and effect.
- No single or partial exercise, or failure or delay in exercising any right, power or remedy by us shall constitute a waiver by us of, or impair or preclude any further exercise of, that or any right, power or remedy arising under these Terms and Conditions or otherwise.
- In the event of our insolvency, Starling Bank Limited will continue to hold your money pending investment, but will not facilitate any new investments. Starling Bank Limited will notify you of changes to reporting requirements in such event.
- In the event of our insolvency, we shall attempt to find an alternative services provider to enable the platform to continue to function.
- We may exercise any of our rights or discharge our obligations under these Terms and Conditions in our own capacity or through any company or other legal entity which has all relevant legal authorisations, licences or permissions to discharge those functions. No person shall have rights to enforce terms under the Contracts (Rights of Third Parties) Act 1999.
- You consent to the processing by us, (and by associated and affiliated companies and by any third parties involved in the provision to you of products or services), of the personal data submitted by you and/or created in the course of your relationship with Goji and to the transmission of such personal data to such associated and affiliated companies and/or third parties for purposes connected with customer administration.
If you have any questions about these Terms and Conditions, or wish to contact us for any other reason, you can contact us in writing at: Goji Financial Services Limited, 133 Whitechapel High Street, London, E1 7QA; by telephone on: 020 3865 5243 or by email to: [email protected].
SCHEDULE – FEES AND CHARGES
Goji charges a simple, low fee of 0.95% of the value of your invested funds, per annum. This fee is accrued on a daily basis and automatically taken once a month on the last day of each calendar month.
Goji does not charge any upfront or performance fees. Goji will not charge its fee if investors do not earn returns.
Goji will take no fees or make any deductions or charges of any kind on the interest paid by the Goji Diversified Lending Bond or Goji Renewables Bond.
GOJI INNOVATIVE FINANCE ISA
Goji Financial Services Limited (“Goji”) Innovative Finance ISA Terms and Conditions
Please read your Innovative Finance ISA terms and conditions. You must accept these terms and conditions in order to open your Innovative Finance ISA account with Goji. These terms and conditions will apply in conjunction with Goji’s general investor terms and conditions.
YOUR GOJI INNOVATIVE FINANCE ISA ACCOUNT
- Goji Financial Services Limited (or ‘Goji’ or ‘us’ or ‘we’) is authorised and regulated by the Financial Conduct Authority under firm reference number X. Goji will act as your ISA manager.
- Your Individual Savings Account (‘ISA’) will be an Innovative Finance ISA (IFISA).
- The Goji IFISA is only available to customers who have a Goji Investment account in their sole name and who are solely beneficially entitled to any cash or investments in the Goji IFISA.
- ISA investments will be, and must remain in, your beneficial ownership and must not be used as security for a loan.
OPENING A GOJI INNOVATIVE FINANCE ISA ACCOUNT
- To open a Goji IFISA account (‘Goji IFISA’), we must be in receipt of a completed ISA application, together with your payment for any amount between our stated minimum subscription up to the maximum annual subscription allowance for a Goji Innovative Finance ISA.
- You may subscribe to an ISA in any tax year (i.e. period starting on 6 April of one year and ending 5 April of the following year) for which you are either resident and ordinarily resident in the United Kingdom; or, although non-resident in the United Kingdom, perform duties of a Crown employee which are treated as being performed in the United Kingdom, or are the spouse or civil partner of such a person.
- When you open a Goji IFISA account we will ask you to make a declaration. Making this declaration will allow you to subscribe for a Goji IFISA in the tax year that you make the declaration and for each subsequent tax year, provided you make a subscription to your Goji IFISA every tax year. If you do not make a subscription to your Goji IFISA one year then when you next want to subscribe to your Goji IFISA you will have to make a new declaration.
- In accordance with the ISA Regulations you are not eligible to apply if you have already subscribed to another IFISA in the same tax year, or if you have already subscribed the maximum available allowance to a Cash ISA and/or Stocks and Shares ISA, in the same tax year as you are applying for this IFISA. These restrictions do not apply if you are:
- transferring an existing IFISA from another ISA Provider to the Goji IFISA (in circumstances where this is permitted under the ISA Regulations), or
- where you have already subscribed the maximum allowance to a cash and/or stocks and shares ISA and this is transferred to this Innovative Finance ISA.
- If you have any questions, doubts or issues relating to ISA’s or your eligibility to hold an ISA, you should consult the HMRC website (https://www.gov.uk/government/organisations/hm-revenue-customs) or contact them directly.
- Any documents evidencing your title to the IFISA investments will be held by us or as we may direct.
- We will satisfy ourselves that any person to whom we delegate any of our functions or responsibilities under the terms agreed with the investor is competent to carry out those functions and responsibilities.
- We will notify you if, by reason of any failure to satisfy the provisions of the ISA regulations, an ISA has, or will, become void. If the failure cannot be corrected or if you fail to take any action requested by us in writing within a reasonable period of time, we may close your account by written notice.
- If you do not place any money in your account during a tax year, you will need to make a new declaration should you wish to make subscribe to you Goji Innovative Finance ISA in the following tax year.
- We are obliged to confirm the true identity of all applicants and reserve the right to decline an application to open an account from you or any deposit.
- Subject to applicable law, we may decline the opening of a Goji IFISA.
- You must inform us if any declarations or confirmations you have made about your eligibility to hold an ISA no longer apply.
- You must inform us immediately if you are no longer a UK resident or cease to perform duties of a Crown employee which are treated as being performed in the United Kingdom, or cease to be the spouse or civil partner of such a person.
SUBSCRIPTIONS AND WITHDRAWALS
- All cash in your Goji IFISA will be held by Starling Bank Limited in a segregated client money account.
- Subscriptions can be made into your Goji IFISA account by transfer from your Goji Investment account. You can do this through your online Goji Investment account.
- All subscriptions must be in cash.
- The initial subscription into the ISA must be at least equal to the minimum required investment amount.
- The maximum you can subscribe to a Goji IFISA is the maximum ISA limit per tax year as prescribed in the ISA Regulations.
- If funds are subscribed into your Goji IFISA account which exceed the amount prescribed in the ISA Regulations, then the excess subscription will be transferred to a Goji Investment account.
- You may make cash withdrawals from your Goji IFISA account; however, you cannot withdraw funds which are invested in a Bond unless through any existing Goji redemption proposition.
- Your IFISA will be flexible as defined in the ISA Regulations. This flexibility means cash which is withdrawn can be replaced, in whole or part, within the same tax year and this will not affect your ISA subscription limit for that year.
- You agree to reimburse us for any administrative fees, charges from HMRC or any tax authority incurred as a result of your failure to comply with ISA Regulations in opening your ISA, making subscriptions or the operation of your Goji IFISA.
- If you decide you no longer want a Goji IFISA, you will have the right to cancel your account within 14 calendar days of the date your account is opened. You can do this by contacting us by written notice, phone or email. Our contact details can be found here: https://www.goji.investments/about/#contact
- When your account is cancelled, any investments and money credited to your ISA account will be transferred to a Goji Investment account. You can then proceed to use your Goji Investment account as per Goji’s Investor Terms and Conditions.
- If you choose to cancel your Goji IFISA within the 14 day cancellation period outlined in clause 5.1, you will remain eligible to open an IFISA with us or another ISA manager. This will not apply if you cancel your Goji IFISA after this period.
- If you wish to close your IFISA account, you can do so by written notice or phoning us. Our contact details can be found here: https://www.goji.investments/about/#contact
- If you have subscribed to your IFISA during a tax year and then close the account, and do not arrange with another ISA provider to transfer the money in your account to them, you will not be able to subscribe to another IFISA with another ISA provider in the same tax year.
- If you have subscribed to your IFISA during a tax year and then close the account, you will be able to re-open the account with us during the same tax year.
- We may close your account with immediate written notice to you if we are directed to close it by HM Revenue & Customs.
- If you or we close your Goji IFISA account, any investments and money credited to your account will be transferred to a Goji Investment account. You can then proceed to use your Goji Investment account as per Goji’s Investor Terms and Conditions.
- In closing your IFISA we may deduct any sums due to us.
- You will reimburse us any amounts required to be paid in tax or otherwise if you close your IFISA.
- We will notify you, by reason of any failure to satisfy the provisions of the ISA regulations, if all or part of your Goji IFISA account has or will become invalid.
- If the failure can be corrected, we will repair your Goji IFISA account. You will be charged £35.00 for the administration of an account if Goji is required to repair your IFISA account.
- If the failure cannot be corrected, your Goji IFISA account will be voided. You will be charged £35.00 for the administration of an account if Goji is required to void your IFISA account.
DEATH OR BANKRUPTCY
- In the event of your death, ISA tax exemptions will no longer apply. Any interest or gains in respect of investments that arise after the date of death to the date of closure will not be exempt from tax.
- When we receive notification of your death we will suspend all transactions and investments in your Goji IFISA account. ISA tax exemptions will no longer apply from the date of death.
- We may require a grant of probate or letters of administration before releasing any monies in your account to your executors.
- Your IFISA account will be valued for probate as at the death and dealt with as instructed by your executors.
- We will support the setting up of a Goji IFISA based on Additional Permitted Subscriptions (APS) for your spouse.
- In the event of your bankruptcy, ISA tax exemptions will no longer apply from the date on which a trustee is appointed to manage your estate.
- When we receive notification of your bankruptcy we will close your Goji Innovative Finance ISA account and any investments and money credited to your account will be transferred to a Goji Investment account.
- A charge of £50.00 is applied for a valuation of the deceased’s Innovative Finance ISA account that may be required for Grant of Probate.
- You will be charged £25.00 for the administration of an account should we receive a bankruptcy order.
- You may transfer money into your Goji IFISA with us from an existing ISA with another provider, in cash only. An online transfer-in form will need to be completed and then we will send you a Transfer Authority form to approve and sign. We can then arrange for the funds to be transferred to us from your existing ISA provider in accordance with your instructions and ISA Regulations.
- The transfer process will begin on the date on the Transfer Authority form or the date you stipulate for us to begin the transfer process, whichever is later. We will then send your request for the transfer of money in your existing ISA to your existing ISA Provider together with confirmation that we will accept the ISA transfer, within 5 business days of receiving your Transfer Authority form.
- We will not charge you for a transfer of an ISA from a 3rd party ISA plan manager to Goji.
INTERNAL TRANSFER TO ISA
Cash in your Goji Investment account (non-ISA account) can be transferred into your Goji IFISA account so long as they are not currently invested in a Bond.
- All transfers must be made in cash.
- If you choose to transfer out funds from your Goji IFISA to another ISA provider, you will be charged a fee of £35.00.
- You may transfer your current year’s ISA subscriptions in whole, and/or parts of any funds (together with interest) in your account from previous tax years to another ISA provider in accordance with the ISA Regulations and these conditions. You will need to contact your other ISA provider to arrange a transfer and you can choose the date funds are transferred, subject to us being allowed a reasonable period to implement that transfer. That reasonable period shall not exceed 30 days and shall be consistent with the requirements of the ISA Regulations.
EXISTING BOND INVESTMENTS
If you are an existing Goji Investments customer, you cannot transfer existing investments from your Goji Investment account into your Goji IFISA account.
CHANGES TO TERMS AND CONDITIONS
- We may, at any time, change these Terms and Conditions by giving you written notice. Such an amendment will take effect on the date specified in the written notice. For the avoidance of doubt, these changes may impact our fees and charges or the level of service provided. Any amendment that adversely affects you will not apply to sums already lent out.
- Goji may amend these Terms and Conditions if it believes it necessary to respond proportionally to changes in law and regulations.
- We may also amend these Terms and Conditions to reflect changes to our systems, administrative processes, and procedures, market practice or client requirements and to reflect other legitimate cost increases (or reductions) associated with providing your Goji IFISA.
- You will be given at least 30 days’ notice in respect of any changes to these Terms and Conditions unless the specific circumstances require a shorter or longer period. Any amendments will comply with any applicable laws and regulations.
- The management of your Goji IFISA account will be subject to the ISA Regulations. Any changes made by HMRC to the ISA Regulations that affect these terms will apply as soon as they come into effect.
- We will inform you if your Goji IFISA account has or will lose its tax exemption through any failure to meet the ISA Regulations. If an investment which was previously allowed under the ISA Regulations ceases to be allowed, Goji will notify you and provide instruction to transfer it out of the account.
- These ISA account Terms are based on our understanding of current law and HMRC’s practice as at April 2016. These may change in the future and the favorable tax treatment of ISAs may not be maintained.
‘Goji’ ‘We’, ‘Us’ or ‘Our’ means Goji Financial Services Limited.
‘Business days’ refers to any day other than Saturday, Sunday or a Bank holiday in England and Wales.
‘Goji IFISA’ means your ISA account held with Goji Investments.
‘Goji Investment account’ or ‘general account’ means your non-ISA account held with Goji.
‘HMRC’ means Her Majesty’s Revenue & Customs.
‘ISA’ means Individual Savings Account.
‘IFISA’ means Innovative Finance Individual Savings Account.
‘ISA Regulations’ or ‘Regulations’ means the Individual Savings Account Regulations 1998 (as amended or replaced from time to time).
‘Subscription’ means any contribution made by you to your Innovative Finance ISA during a tax year that counts towards the annual subscription limits under the Regulations.