ACCREDITED INVESTOR CONSENT PROVISIONS

CONSENT PROVISIONS

This document provides a summarised description of the applicable Consent Provisions prescribed under the Regulations. As this is a summary of the applicable Consent Provisions, this document is qualified by the relevant consent provisions set out in full under the SFA and the Securities and Futures (Licensing and Conduct of Business) Regulations ("SFLCBR"). You should read and fully understand this Consent Provisions before providing your consent to be treated as an accredited investor for the purposes of the Consent Provisions.

You should seek independent professional advice if you require any advice with respect to the matters stated in this Consent Provisions.

Regulations 3(9)(b) and (c) relate to the prospectus registration rules and the associated advertising rules under Singapore law. Generally, all offers of securities and securities-based derivatives contracts, and units of collective investment schemes under Singapore law are considered to be public offers and a Singapore law compliant prospectus is required to be registered as a "prospectus" under the SFA before such offer to the public may be made. In addition, secondary sales made to institutional investors and relevant persons remain exempt from the prospectus registration requirement provided that certain requirements are met. The issuer and/or offeror is not subject to the statutory prospectus liability under the SFA. Subsequent sales of securities, securities-based derivative contracts and collective investment schemes first sold under inter alia sections 275 and 305 can also be made to you, as well as transfers of securities of certain corporations and interests in certain trusts.

Sections 251 and 300 of the SFA prohibit any advertisement or publication referring to an offer or intended offer of securities and securities-based derivatives contracts, and units of collective investment schemes from being made, except in certain circumstances. These restrictions do not apply to certain communications containing material on matters in a preliminary document lodged with the Monetary Authority of Singapore. You may receive such communications and are therefore not protected by the requirements in sections 251 and 300 of the SFA.

Regulation 3(9)(d) relates to certain protections accorded to retail investors under the SFLCBR. Part III of the SFLCBR relates to the Company's handling and protection of client moneys and assets. Moneys and assets belonging to retail customers are subject to more stringent requirements and safeguards, such as requirements to deposit assets with a licensed institution which can accord greater protection over the assets, enhanced identification and disclosure requirements. The opt-in to be treated as an accredited investor will result in you not being able to benefit from these enhanced measures and safeguards.

Regulation 47BA of the SFLCBR provides that the Company must not deal with a retail customer as an agent when dealing in certain capital markets products. The Company is not subject to this prohibition if you are an accredited investor and, subject to applicable laws and regulations, may deal with you as an agent in relation to over-the-counter derivatives contracts and/or spot foreign exchange contracts, for the purposes of leveraged foreign exchange trading.

The Company is not under any obligation under regulation 47E(2) of the SFLCBR to provide for certain risk disclosure requirements for (a) trading in futures contracts, spot foreign exchange contracts for the purposes of leveraged foreign exchange trading and foreign exchange over-the-counter derivatives (the "Products"), (b) soliciting or entering into fund management agreements to manage Products for you.'

Regulation 3(9)(e) relates to certain responsibilities of the Company with respect to the supervision of persons who carry on regulated activities as a provisional representative or temporary representative, where a principal of the representative is generally required to arrange for an appointed representative to accompany such provisional representative or temporary representative in the course of such provisional representative or temporary representative meeting, communicating by mail or telephone and performing any regulated activity on behalf of the principal. This legal safeguard is afforded only when servicing a member of the public. The legal obligation on the part of the principal to have an appointed representative accompany the provisional representative or temporary representative does not apply when dealing with an accredited investor. Accordingly, if you opt-in to be treated as an accredited investor, you will not be able to benefit from the safeguard provided under such an arrangement.

Regulation 3(9)(f) relates to, inter alia, lending of a client's specified products, provision of statement of account to clients, and general risk disclosure requirements in respect of opening a trading account for a customer for the purpose of entering into transactions of sale and purchase of any specified capital markets products. The Company is not under any statutory obligation under regulation 33(2)(a) of the SFLCBR to explain the risks involved to you prior to the Company lending or arranging for a custodian to lend your specified products.

Provided: (a) the Company has made available to you (on a real-time basis) with your consent monthly and quarterly statements of account containing prescribed particulars electronically; or (b) you have requested in writing not to receive the statement of account, the Company is not under any statutory obligation under regulation 40(1) of the SFLCBR to furnish a monthly or quarterly statement of account to you.

The Company is not required to provide certain general risk disclosures required under regulation 40(1) of the SFLCBR or disclose to you the capacity in which the Company acts when opening a trading account for entering into transactions of any products that are not futures contracts, spot foreign exchange contracts and foreign exchange over-the-counter derivatives.

Regulation 3(9)(h) relates to due diligence exercise that the Company must carry out before selling or marketing any new product in Singapore to any targeted client to ascertain whether the new product is suitable for the targeted client. The Company is not under any statutory obligation to carry out a due diligence exercise to ascertain whether any new product it wishes to sell or market is suitable for you.