Common use of Guidelines and Restrictions Clause in Contracts

Guidelines and Restrictions. 1. There will be no restrictions placed on the types of investment in which the money comprised in the Portfolio will be invested provided that the services to be provided by JOHP will not include advising on or effecting Contingent Liability Transactions, nor will they, without the express prior authority of the Client, relate to options, futures or contracts for differences (or to any right or interest in such investments). 2. The contents of the Portfolio may be invested in any market save for the following. There shall be no restriction on the amount of monies or proportion of the Portfolio invested in any one investment or type of investment permitted hereunder provided that, subject to the provisions relating to overdraft contained in paragraph 6 of this Agreement, under no circumstances will JOHP make investments on behalf of the Client to a value in excess of the aggregate of the value of the funds and securities held by JOHP on behalf of the Client in the accounts referred to in paragraph 16 of this Agreement. PART III - Risk Warnings and Risk Disclosure Statement Investments Denominated in Foreign Currencies If a liability of the Client in one currency is to be matched by an asset in a different currency, or if JOHP provides services under this Agreement relating to an investment denominated in a foreign currency, a movement in exchange rates may have an effect which may be either favourable or unfavourable on the investment, which effect may be separate from the gain or loss otherwise experienced on such investment. Investments not readily realisable Certain categories of investments comprised in the Portfolio may not be readily realisable. You should be aware that there can be no certainty that market makers or brokers will be prepared to deal in such investments and that proper information for determining their current value may not be available.

Guidelines and Restrictions. 1. There will be no restrictions placed on the types of investment in which the money comprised in the Portfolio will be invested provided that the services to be provided by JOHP will not include advising on or effecting Contingent Liability Transactions, nor will they, without the express prior authority of the Client, relate to options, futures or contracts for differences (or to any right or interest in such investments). 2. The contents of the Portfolio may be invested in any market save for the following. : There shall be no restriction on the amount of monies or proportion of the Portfolio invested in any one investment or type of investment permitted hereunder provided that, subject to the provisions relating to overdraft contained in paragraph 6 of this Agreement, under no circumstances will JOHP make investments on behalf of the Client to a value in excess of the aggregate of the value of the funds and securities held by JOHP on behalf of the Client in the accounts referred to in paragraph 16 of this Agreement. PART III - Risk Warnings and Risk Disclosure Statement Investments Denominated in Foreign Currencies If a liability of the Client in one currency is to be matched by an asset in a different currency, or if JOHP provides services under this Agreement relating to an investment denominated in a foreign currency, a movement in exchange rates may have an effect which may be either favourable favorable or unfavourable unfavorable on the investment, which effect may be separate from the gain or loss otherwise experienced on such investment. Investments not readily realisable Certain categories of investments comprised in the Portfolio may not be readily realisable. You should be aware that there can be no certainty that market makers or brokers will be prepared to deal in such investments and that proper information for determining their current value may not be available.

Guidelines and Restrictions. 1. There will be no restrictions placed on the types of investment in which the money comprised in the Portfolio will be invested provided that the services to be provided by JOHP will not include advising on or effecting Contingent Liability Transactions, nor will they, without the express prior authority of the Client, relate to options, futures or contracts for differences (or to any right or interest in such investments). 2. The contents of the Portfolio may be invested in any market save for the following. There shall be no restriction on the amount of monies or proportion of the Portfolio invested in any one investment or type of investment permitted hereunder provided that, subject to the provisions relating to overdraft contained in paragraph 6 of this Agreement, under no circumstances will JOHP make investments on behalf of the Client to a value in excess of the aggregate of the value of the funds and securities held by JOHP on behalf of the Client in the accounts referred to in paragraph 16 of this Agreement. PART III - Risk Warnings and Risk Disclosure Statement Page 155 of 258 Pages Investments Denominated in Foreign Currencies If a liability of the Client in one currency is to be matched by an asset in a different currency, or if JOHP provides services under this Agreement relating to an investment denominated in a foreign currency, a movement in exchange rates may have an effect which may be either favourable or unfavourable on the investment, which effect may be separate from the gain or loss otherwise experienced on such investment. Investments not readily realisable Certain categories of investments comprised in the Portfolio may not be readily realisable. You should be aware that there can be no certainty that market makers or brokers will be prepared to deal in such investments and that proper information for determining their current value may not be available.

Guidelines and Restrictions. 1. There will be no restrictions placed on the types of investment in which the money comprised in the Portfolio will be invested provided that the services to be provided by JOHP will not include advising on or effecting Contingent Liability Transactions, nor will they, without the express prior authority of the Client, relate to options, futures or contracts for differences (or to any right or interest in such investments). 2. The contents of the Portfolio may be invested in any market save for the following. There shall be no restriction on the amount of monies or proportion of the Portfolio invested in any one investment or type of investment permitted hereunder provided that, subject to the provisions relating to overdraft contained in paragraph 6 of this Agreement, under no circumstances will JOHP make investments on behalf of the Client to a value in excess of the aggregate of the value of the funds and securities held by JOHP on behalf of the Client in the accounts referred to in paragraph 16 of this Agreement. PART III - Risk Warnings and Risk Disclosure Statement Page 107 of 258 Pages Investments Denominated in Foreign Currencies If a liability of the Client in one currency is to be matched by an asset in a different currency, or if JOHP provides services under this Agreement relating to an investment denominated in a foreign currency, a movement in exchange rates may have an effect which may be either favourable or unfavourable on the investment, which effect may be separate from the gain or loss otherwise experienced on such investment. Investments not readily realisable Certain categories of investments comprised in the Portfolio may not be readily realisable. You should be aware that there can be no certainty that market makers or brokers will be prepared to deal in such investments and that proper information for determining their current value may not be available.