Panorama SMSF Establishment Service

Panorama SMSF Establishment Service Panorama SMSF Establishment Service Guide and Terms and Conditions Dated 14 October 2017

Purpose of this Guide This Guide is important because it includes the following information: > > information about the Panorama SMSF Establishment Service > > an outline of the documentation you will receive, and > > the Terms and Conditions of using the Panorama SMSF Establishment Service. By applying to use the Panorama SMSF Establishment Service, you will also be applying to open an account in Panorama Investments, an Investor Directed Portfolio Service (IDPS). Accordingly, you should also read the Panorama Investor Guide, Additional Information and Terms Booklet and the BT Cash Management Account and related Payment Services Terms and Conditions. You can obtain a copy of these documents from your adviser or by contacting us. Updates to this Guide Information in this Guide is subject to change. The latest version of this Guide is available by logging into panorama.com.au. Information that is not materially adverse may be communicated via a notice to you or your adviser or by updating the information available through the online service panorama.com.au. You can obtain the updated information at any time by visiting panorama.com.au or contacting your adviser, who can provide you with a copy of any updated information free of charge. About the provider of the Panorama SMSF Establishment Service BT Portfolio Services Ltd ABN 73 095 055 208 AFSL 233715 ( BTPS ) provides the Panorama SMSF Establishment Service. In this Guide, BTPS is referred to as the Service Provider, us or we. We issue this Guide in Australia. BTPS is also the operator and administrator of Panorama Investments (Panorama). For more information about BTPS s role in relation to Panorama please refer to the Panorama Investor Guide, a copy of which is available from your adviser or by contacting us. Role of Westpac Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac) is the issuer of the BT Cash Management Account ( BT CMA ). BTPS is a subsidiary of Westpac. Apart from any interest investors may have in Westpac term deposits, Westpac securities or the BT CMA acquired through Panorama, an investment in, or acquired using Panorama, is not an investment in, deposit with or any other liability of Westpac or any other company in the Westpac Group. These investments are subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. Westpac and its related entities do not stand behind or otherwise guarantee the capital value or investment performance of any investments in, or acquired through, Panorama. Eligibility The Panorama SMSF Establishment Service is available only to investors who receive the Guide in Australia, whether in hard copy or electronically. If you (or any member of the proposed SMSF) are not a resident of Australia for the purposes of Australian tax law, your proposed SMSF may not qualify as a complying superannuation fund entitled to concessional tax treatment. You should obtain advice about the tax treatment of your proposed SMSF before setting up an SMSF. General information only The information in this document is general information only and doesn t take into account your personal objectives, financial situation or needs. The information in this Guide concerning Panorama does not constitute financial product advice or a recommendation about Panorama. Therefore, before acting on the information, you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. You should consult a licensed financial adviser for financial advice that s tailored to suit your personal circumstances.

Contents The Panorama SMSF Establishment Service 2 Your responsibilities as trustee 2 Setting up your SMSF is easy with Panorama 3 How does it work? 4 SMSF documents 6 Activating your SMSF s Panorama Investments account 7 How much will it cost? 7 What s next? 8 Additional information 8 Privacy Statement 9 Terms and Conditions 10

The Panorama SMSF Establishment Service Our SMSF Establishment Service includes everything you need to get your Self Managed Superannuation Fund (SMSF) up and running: > > Key documents including a Trust Deed, trustee declarations and consents, fund Product Disclosure Statement (PDS), member applications and minutes > > Establishment of a company to act as corporate trustee (where applicable), including registration of the company with the Australian Securities & Investments Commission (ASIC) > > Registration of your fund for a Tax File Number (TFN) and an Australian Business Number (ABN) > > Notification to the Australian Taxation Office (ATO) of your fund s election to be a regulated fund > > Investment strategy template > > Set up of a Panorama Investments account with a BT Cash Management Account (BT CMA). You can have up to four members in your SMSF. Generally, each member must be an individual trustee or a director of a corporate trustee (i.e. a company acting as trustee for your SMSF). There are a number of things to consider in determining which trustee structure is right for you. For more information speak to your adviser or visit the ATO website. Your responsibilities as trustee When setting up an SMSF, it is important that you are aware of your responsibilities as a trustee. As the trustee, or as a director of a corporate trustee, you ll be responsible for ensuring that your fund operates within the law and complies with the trust deed for your fund. If you don t, you may face severe penalties and your fund may suffer tax consequences. Your responsibilities for your SMSF will include: > > Maintaining all SMSF records > > Establishing, implementing and reviewing the SMSF s investment strategy > > Lodging all required tax and regulatory returns. Each trustee and each director of a corporate trustee must sign an ATO Trustee declaration that confirms they understand their duties and responsibilities, which we will provide you with. For directors of a corporate trustee, your responsibilities also include maintaining all company records and paying the ASIC company annual review fee. For more information about your responsibilities speak to your adviser or visit the ATO website. Directors of a corporate trustee should also visit the ASIC website. 2

Setting up your SMSF is easy with Panorama The Panorama SMSF Establishment Service is an intuitive and simple way to get you started with your SMSF. We keep you informed throughout the whole process, and once you have executed all the required documents, we ll look after all necessary steps and registrations to get your fund up and running. One simple, combined application You or your adviser can set up your SMSF and open a Panorama Investments account, with a BT CMA ( your SMSF s cash account ), in one simple, combined application. Everything you need All the documents you need to establish your SMSF are at your fingertips, including an SMSF Trust Deed. The Trust Deed is prepared and provided by a specialist law firm, and is designed to cater for a wide variety of SMSF strategies. Speak to your financial adviser (if you have one) for more information on the key features of the Trust Deed. We recommend you seek independent financial and/or legal advice to ensure the Trust Deed is suitable for your circumstances. Set up a corporate trustee If you choose to have a corporate trustee for your SMSF, we ll set up and register a special purpose company to be the trustee. Fund registration We take care of registering your SMSF with the ATO, including arranging the fund s TFN and ABN and notifying the ATO of the fund s election to be a regulated fund. Access your documents all in one place Your SMSF documents are stored in your fund s online document library, once your SMSF s Panorama Investments account is active. You can securely store all your important SMSF documents in one place and easily share them with your linked adviser and/or accountant. Is an SMSF right for you? You should speak to your financial adviser or visit the ATO website to help you decide whether an SMSF is right for your particular circumstances. The ATO provides a range of information to help you assess whether an SMSF might be suitable for you. Please refer to the ATO website for more information. 3

How does it work? 1 Completing your application We, or your adviser, will complete the application for your new SMSF, the establishment of a corporate trustee (if applicable) and your SMSF s Panorama Investments account on your behalf, in accordance with your instructions. Each of the trustees, or directors of the corporate trustee, will be emailed a copy of the application to approve. What you need to do > > If you opt for a corporate trustee, prior to authorising your application, you must ensure that all relevant company consent forms are completed and signed. Consent forms will be made available to you directly or via your adviser. Instructions for completing each consent form are outlined below: Director Appointment Consent (each director to sign); Member Consent and Share Application (each director to sign); Occupier Consent (Occupier to sign only required if the registered office of the company will be using another address such as your accountant s address); Proposed Director Acknowledgement (each director to sign); and Secretary Appointment Consent (nominate one director to be company secretary and have them sign the consent). > > For the SMSF establishment to proceed, the Terms and Conditions of the Panorama SMSF Establishment Service and the Terms and Conditions of Panorama Investments must be accepted by: all proposed individual trustees of the SMSF; or authorised directors of the corporate trustee, on behalf of the company. 2 Signing and returning the SMSF documents Your SMSF documents (including your trustee company documentation if you opt for a corporate trustee) will be automatically produced and provided to you directly or via your adviser. What you need to do > > Arrange for your SMSF documents (and trustee company documentation, where applicable) to be signed. > > Once your Trust Deed has been executed you must also settle a nominal amount on the trust, to do this, the ATO recommends attaching $10 to the trust deed (see ATO website for more information). Your adviser can also help you do this, alternatively contact us for more information. Remember, trustees also need to keep the original signed Trust Deed. > > Return all documents to your adviser. If you do not have an adviser, return all original signed documents to Panorama. Panorama will return the original SMSF documents to you once your SMSF has been established. 4

3 Registering your fund Once we ve received all the necessary signed documents, we will: > > apply for your SMSF s Tax File Number (TFN) and Australian Business Number (ABN) > > apply to register your SMSF as a regulated fund with the ATO Please Note: It may take upwards of 28 days for the ATO to issue an ABN and TFN and an additional 7 days to update the ATO register that your SMSF is a regulated fund. We will track your application and keep you informed of the progress, noting that the ATO do not provide any updates during the initial 28 day timeframe. 4 Activating your Panorama Investments account Once your SMSF has been issued with an ABN, TFN and registered with the ATO we can activate your fund s Panorama Investments account. We ll send you an email when your SMSF establishment has been completed and your SMSF s Panorama Investments account is active. If you have an adviser, your adviser will also receive an email notifying them of this. You re ready to start contributing and arranging rollovers into your SMSF s cash account. 5

SMSF Documents As part of the Panorama SMSF Establishment Service, the following documents will be made available to you directly or via your adviser: Document and description Trustee Action Return to Panorama or your adviser 1 SMSF documents Trust Deed Outlines the basis under which the SMSF can operate. To be signed by each Trustee/Director (Please see section 2 on page 4). Yes Application to become a Member Application for members to join the SMSF. An application to be signed by each Member. Yes Trustee Resolution to establish the SMSF Documents the trustees agreement to establish the SMSF and adopt the Trust Deed. To be signed by Chairperson. Yes Australian Taxation Office (ATO) Trustee Declaration ATO form to confirm that as a trustee, or director of the corporate trustee, you are aware of your duties and responsibilities in relation to the operation of your SMSF. A Declaration to be signed per Trustee/Director and also witnessed. Yes Consent to Appointment as Trustee/ Director of a Corporate Trustee Form to confirm that you consent to act as trustee, or director of the corporate trustee, of your fund and that you are not disqualified from acting in this capacity. To be signed by each Trustee/Director. Yes Investment Strategy Template provided to document your SMSF s investment strategy. This template can be used to fulfil your trustee obligation to maintain a relevant Investment Strategy. If using this template, asset allocation ranges and current targets should be completed and once agreed, signed by each Trustee/Director. No (Retain with your SMSF records) Letter of Comfort Letter from the law firm confirming that your Trust Deed complies with superannuation law at date of issue. No signature required. No (Retain with your SMSF records) SMSF Product Disclosure Statement (PDS) Outlines the key features, benefits and risks in respect of an SMSF. No signature required. No (Retain with your SMSF records) Trustee Company Documentation (if applicable) Company constitution Outlines the basis under which the company will operate. Certificate of Registration of a Company Certificate of your trustee company registration issued by ASIC Company Forms Includes: > Director Appointment Consent; > Member Consent and Share Application; > Occupier Consent (if applicable); > Proposed Director Acknowledgement; and > Secretary Appointment Consent. No signature required. Directors to review and confirm appropriateness for the corporate trustee of your SMSF. No signature required. For reference only These are duplicates of the original trustee company set up consent forms which were signed and dated by the Directors authorising your application (see section 1 on page 4). Please ensure the original consents are kept for safekeeping. No (Retain with your SMSF records) No (Retain with your SMSF records) No (Retain original consents with your SMSF records) 6 1 Copies of documents marked as Yes under the column Return to Panorama or your Adviser will need to be returned to Panorama so we can complete the SMSF Establishment Service. Where you have appointed an adviser, you will need to provide them with the completed documents, your adviser will then return the documents to us. Remember, although copies of your SMSF documents will be stored online, it s important that you keep the original signed documents in a safe place.

Activating your SMSF s Panorama Investments account When you apply to use the Panorama SMSF Establishment Service you will also apply to open a Panorama Investments account which includes your BT CMA ( your SMSF s cash account ). Contributions, rollovers and investment income can be deposited into your SMSF s cash account, and asset purchases, insurance premiums, pension payments and all other outgoings can be paid from your SMSF s cash account. Once your SMSF s Panorama Investments account is activated, you can then arrange for rollovers and contributions to be made. Note your SMSF s Panorama Investments account cannot be activated until we receive confirmation from the ATO that your SMSF is registered as a regulated fund. How much will it cost? Corporate trustee The fee to set up your SMSF with a corporate trustee using the Panorama SMSF Establishment Service is $1,475 (inclusive of GST). This fee covers the costs of: > > setting up a special purpose company to act as corporate trustee of your SMSF, > > registering the company with ASIC, > > providing the Trust Deed and other documentation to establish your SMSF. Additional fees may apply if stamp duty is payable following execution of your Trust Deed (currently Northern Territory only), and > > arranging for all of the required registrations, including the registration of your SMSF as a regulated fund with the ATO. Individual trustees The fee to set up your SMSF with individual trustees using the Panorama SMSF Establishment Service is $695 (inclusive of GST). This fee covers the costs of: > > providing you with the Trust Deed and other documentation to establish your SMSF. Additional fees may apply if stamp duty is payable following execution of your Trust Deed (currently Northern Territory only), and > > arranging for all of the required registrations, including the registration of your SMSF as a regulated fund with the ATO. The fund establishment fee will be deducted from your SMSF s cash account once your SMSF s Panorama account is activated and there are sufficient funds in your SMSF s cash account. 7

What s next? If you haven t already, you should speak to your adviser or contact us if you require more information. The ATO website also has a range of helpful information regarding SMSFs, including: > > setting and implementing your SMSF investment strategy > > nominating any beneficiaries. Panorama will also provide a range of documents and forms to help you manage your SMSF and record decisions made by the trustees. Panorama SMSF Administration Service The Panorama SMSF Administration Service includes a range of services designed to assist trustees with the ongoing administration of their SMSF. For more information speak to your adviser, contact us or visit BT SMSF. Advisers please visit btpanorama.com.au. Additional information Communicating with us Providing instructions You can provide instructions by post, email, telephone, online or via your adviser. Our contact details are located on the back cover of this Guide. Any correspondence will be sent to the trustee, or director of the corporate trustee, who is the primary contact for your SMSF, unless you instruct us otherwise. Addressing your concerns How do I give feedback or lodge a complaint? If you have a concern or complaint about the Panorama SMSF Establishment Service that you can t resolve with your adviser (if you have one), please call us on 1300 881 716 from 8.00am to 6.30pm, Monday to Friday (Sydney time). If we are unable to resolve your concerns over the phone, we will refer the matter to our Complaints Officer. Alternatively, you can outline your complaint in writing to: The Complaints Officer Panorama SMSF Establishment Service GPO Box 2861 Adelaide SA 5001 The Complaints Officer will acknowledge receipt of your complaint, and will try to resolve or assist with the resolution of the matter within 45 days of receiving your letter. If you have a concern or complaint about your adviser or the financial product advice you have received, please approach the Australian Financial Services Licensee for whom your adviser was acting. What should I do if I don t receive a response or I m dissatisfied with the Administrator s response? If you are dissatisfied with our response (or have not received a response within 45 days), you may refer your complaint to the Financial Ombudsman Service ( FOS ) by: > > Calling 1800 367 287 > > Faxing to 03 9613 6399 > > Writing to: Financial Ombudsman Service Limited GPO Box 3 Melbourne VIC 3001 FOS is an independent body, set up to assist investors in the resolution of complaints relating to members of the financial services industry including life insurance and funds management companies. 8

Privacy Statement Why we collect your personal information We collect personal information from you so that we can provide you with products or services, and manage your products or services. We may also use your information to comply with legislative or regulatory requirements in any jurisdiction, prevent fraud, crime or other activity that may cause harm in relation to our products or services and to help us to run our business. If you do not provide all the information we request, we may no longer be able to provide a product or service to you. How we collect your personal information We may collect your information from many places including correspondence with you or your adviser, our telephone calls with you or you using our website, mobile app or emailing us. We may also collect your information from the trustee, or the director of the corporate trustee, who is the primary contact for your SMSF. We may also collect your information from other members of the Westpac Group or from a service provider engaged to do something for us or another member of the Westpac Group. Our service providers typically include custodians, investment administrators, information technology advisers, mailhouses, auditors, legal advisers and consultants. Disclosing your personal information We may disclose your personal information to other members of the Westpac Group, anyone we engage to do something on our behalf such as a service provider, other organisations that assist us with our business and any person who acts on your behalf in relation to your investment (such as your adviser or accountant). We may disclose your personal information to an entity which is located outside Australia. We may also disclose your personal information to the other trustees/members of your SMSF. Details of the countries where the overseas recipients are likely to be located are in the BT Privacy Policy. As a provider of financial services, we have obligations to disclose some personal information to government agencies and regulators in Australia, and in some cases offshore. We are not able to ensure that foreign government agencies or regulators will comply with Australian privacy laws, although they may have their own privacy laws. By using our products and services, you consent to these disclosures. Other important information We are required or authorised to collect personal information from you by certain laws. Details of these laws are in the BT Privacy Policy. The BT Privacy Policy is available at bt.com.au or by calling 1300 881 716. It covers: > > How you can access the personal information we hold about you and ask for it to be corrected; > > How you may complain about a breach of the Australian Privacy Principles, or a registered privacy code and how we will deal with your complaint; and > > More detail on how we collect, hold, use and disclose your personal information. The BT Privacy Policy will be updated from time to time. 9

Terms and Conditions 1. BTPS as Service Provider The Panorama SMSF Establishment Service ( Establishment Service ) is offered and provided by BT Portfolio Services Ltd ( BTPS ) ABN 73 095 055 208, AFSL No. 233715. In these Terms and Conditions, BTPS is referred to as we and us. You and your refers to: > > the individuals applying to set up a Self-Managed Superannuation Fund (SMSF) with individual trustees; > > the company applying to set up an SMSF as corporate trustee; and > > each director of a corporate trustee. 2. Your instructions We will accept instructions from you or your adviser, if you have appointed one. Instructions can be provided online through panorama.com.au. We will act on instructions from you or your adviser that we reasonably believe to be genuine. We will not act on instructions if, in our opinion, they are not genuine, clear, complete or otherwise in accordance with these Terms and Conditions. We will advise you or your adviser (depending on who provided the instruction to us), if we will not act on any instruction and we do not accept any liability for instructions we do not implement in these circumstances. 3. Our Agreement This Guide, these Terms and Conditions, and your completed application together make up the legally binding agreement between you and us ( Agreement ). The Agreement is binding when you authorise the application. By authorising the application, you agree to pay the fees for using the Establishment Service. You will be liable both personally and in your capacity as a trustee/trustee director of your SMSF when it is established. In particular: > > You authorise BTPS to deduct the fund establishment fee outlined in this Guide as well as any costs associated with arranging payment of any stamp duty from your SMSF s cash account. > > If you initiate the Establishment Service but do not proceed to establish the SMSF or transfer sufficient funds to your SMSF s cash account within 90 days, you will be personally liable to pay the fund establishment fee. You should read all documents carefully and take professional advice before making your own assessment whether the Establishment Service is appropriate for you. We are not responsible for any loss or damage (whether direct or indirect) to you or anyone else if the Establishment Service is not appropriate or suitable for you. You acknowledge that the Establishment Service or material provided in the provision of the Establishment Service contains intellectual property rights that we or others engaged or arranged by us exclusively own the rights to use and distribute. You agree not to do anything to challenge or diminish those rights or in any way to use those intellectual property rights other than as expressly permitted in this Agreement. If any term of this Agreement is held invalid, unenforceable or illegal for any reason, the Agreement will remain otherwise in full force apart from that term which will be deemed deleted. 4. Limitation of services Third party services In providing the Establishment Service, we will engage or arrange for others to perform services for you. These services include, without limitation, legal services such as providing an SMSF Trust Deed and other related SMSF establishment documentation. Our involvement in preparing the SMSF Trust Deed and the related SMSF establishment documentation is limited to inserting names and other details based on instructions provided to us by you or your adviser. Accordingly, subject to any applicable law that cannot be excluded: > > you release us from any liability in relation to any part of the Establishment Service in connection with any errors in documentation or the Establishment Service caused by an error in the information provided to us by you or your adviser, including without limitation where we insert names and other details based on instructions provided to us by you or your adviser into the SMSF Trust Deed and related SMSF Establishment Documentation (except to the extent the liability is caused by our fraud, wilful default, dishonesty or negligence); and > > if you have appointed an adviser, you acknowledge that we are not responsible for any advice or recommendation made by your adviser to establish an SMSF. Otherwise, our liability for these services generally is as set out in clause 8 of these Terms and Conditions. SMSF management and compliance We are only responsible for providing or arranging the services described in this Guide and we provide guidance only to help you in the establishment of your SMSF and do not provide any advice on aspects of SMSF compliance to you. You acknowledge that you will be responsible for the ongoing: > > management of your SMSF, including formulating, implementing and reviewing the SMSF s investment strategy; and > > compliance of your SMSF including with the SMSF Trust Deed or superannuation and taxation laws. You should obtain professional advice regarding your obligations in this regard. We are not responsible for providing investment advice or dealing with SMSF assets other than to the extent required to provide the Establishment Service or otherwise as agreed in writing between you and us. 5. Our powers You agree that we have the power to do anything required to provide the Establishment Service. For the avoidance of doubt, you acknowledge that: > > we are authorised to deal with the ATO on your behalf in relation to applying for an ABN/TFN and 10

your election for the SMSF to be a regulated superannuation fund and we assume that the responses we are required to give the ATO as part of the application process on your behalf are true and correct; > > we are authorised to use the information you have provided to us directly or via your adviser to attend to the incorporation of your trustee company, registration with ASIC and arranging payment of any stamp duty payable; > > for that part of the Establishment Service provided by us, we are providing the Establishment Service as principal and not as your agent. This does not apply to the limited agency for dealing with the ATO and ASIC above, the limited agency for providing details to other providers of Establishment Services on your instructions, or any other agency specifically indicated in this Guide; and > > we have no liability to you for any loss arising from the performance of any products you may acquire, including the investment performance of any assets that you may acquire, for yourself or on behalf of the SMSF. 6. Representation and warranties We represent and warrant to you that we will perform the Establishment Service with a reasonable degree of professional skill, care, competence and diligence. 7. Joint and several liability Each individual trustee acknowledges and agrees that their liability under this Agreement is a joint liability, and a separate liability of each of them. Each agrees that these Terms and Conditions are binding on them personally and in their capacity as trustee of the SMSF when it is established. 8. Your acknowledgements You acknowledge that: > > We cannot provide the Establishment Service to you if you do not comply with our reasonable requests for assistance. > > We may provide data and information about you to third parties to facilitate the establishment of your SMSF and corporate trustee and we are not liable to you or any other person for any loss or damage caused by an act or omission of the third party. > > The ASIC Act, the Australian Consumer Law and other similar laws may impose certain mandatory obligations on us in relation to the Establishment Services. Except as provided by these laws, we and other members of the Westpac Group are not liable to you the trustee or the SMSF for any losses (direct or indirect) relating to the Establishment Service, including without limitation (i) loss of profits, loss of revenue, loss of opportunity or loss of business, loss of savings, loss of reputation or any other direct, indirect or consequential loss, and (ii) any such losses arising in connection with the preparation of the SMSF Trust Deed and any other related SMSF establishment documentation or other services obtained by us from third parties in connection with the Establishment Services. However, this limitation of liability does not apply to the extent that the liability directly results from our fraud, wilful default, dishonesty or negligence. > > Our liability for a breach of any condition or warranty in this Agreement is limited to either supplying the Establishment Services again, or paying you the cost of having the Establishment Services supplied again. > > 9. Your indemnity to us You indemnify us and our officers, employees and agents, members of the Westpac Group and their officers, employees and agents in relation to any claim or for any loss incurred arising from or in connection with: > > any breach of this Agreement by you; > > any wilful, unlawful or negligent act or omission by you or your adviser; > > a breach of any warranty you have given in this Agreement; or > > any action we take based on an instruction from you or your adviser, or any instruction we reasonably believe to be genuine. 10. Your undertakings By authorising us to provide the Establishment Service to you, you warrant that you are eligible to be a trustee/trustee director and member of an SMSF and that all information provided to us by you or your adviser is correct. You undertake to: > > immediately notify us in writing if your SMSF ceases to exist or of any other matter that may affect the establishment process; > > provide us on request with any documents, information or instructions we reasonably require to perform our obligations as detailed in the Agreement or as imposed by the law, and to ensure that any such information will be accurate; > > notify us as soon as practicable where any information previously supplied to us has changed or you believe it is incorrect. We do not take responsibility for any loss that may occur as a result of incorrect or outdated information provided by you or your adviser; and > > before providing the executed documents to us so that we can submit the required documentation with the ATO, settle the trust with at least a nominal amount. 11. Termination of Agreement Either party may terminate this Agreement by giving the other party 30 days written notice. Notwithstanding any termination, you will still be liable to pay the fees for using the Establishment Service to the extent you have not already paid them. 12. Jurisdiction The Agreement is governed by the law in force in the State of New South Wales, and the parties irrevocably submit to the non-exclusive jurisdiction of the courts of New South Wales and the courts of appeal from them for determining any dispute concerning the conditions. 11

For more information panorama.com.au Call our contact centre on 1300 881 716 Email a query to support@panorama.com.au GPO Box 2861 Adelaide SA 5001 BT50208-0917ab