1.1 Gallium PE Depositary Limited ("Gallium") will be the manager of your CapitalRise Innovative Finance ISA. Gallium will not facilitate the holding of investments within your CapitalRise Innovative Finance ISA pursuant to these Terms and Conditions other than bonds acquired through the CapitalRise website.
1.2 Gallium may delegate functions under this agreement to another person, including CapitalRise Finance Limited, where this is permitted by law. References to "we", "us" and "our" in these Terms and Conditions are to Gallium or its delegates.
1.3 To open a CapitalRise Innovative Finance ISA account, we must be in receipt of a completed ISA application, together with your payment (including a transfer of cash from an existing ISA) for any whole pound (£) amount between £1,000 and the maximum annual subscription allowance for an Innovative Finance ISA.
1.4 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.
1.5 When you open an Innovative Finance ISA account, we will ask you to make a declaration to allow you to subscribe for an Innovative Finance for each subsequent tax year.
1.6 In accordance with the Individual Savings Account Regulations 1998 (ISA Regulations), you are not eligible to apply if you have already subscribed to an Innovative Finance ISA, or have already subscribed the maximum available allowance to a Cash and/or Stocks and Shares ISA, in the same tax year as you are applying for this ISA. These restrictions do not apply if you are:
1.6.1 transferring an existing Innovative Finance ISA from another ISA Provider to this Innovative Finance ISA (in circumstances where this is permitted under the ISA Regulations), or
1.6.2 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.
1.7 ISA investments will be, and must remain in, your beneficial ownership and must not be used as security for a loan.
1.8 Any documents evidencing your title to the Innovative Finance ISA investments will be held by us or as we may direct.
1.9 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.
1.10 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.
1.11 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 your CapitalRise Innovative Finance ISA in the following tax year.
1.12 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.