1.0 General

1.1 Dexus Asset Management (DXAM) is the issuer of Financial Products.

1.2 You are a person who has been authorised by DXAM to access APN Online for
the purposes of accessing and transacting on your Account.

1.3 This Agreement forms a binding agreement between DXAM and you in respect of
your access and use of APN Online and the Website.

1.4 The terms and conditions relating to the issue of Financial Products are contained
in the disclosure documents for that Financial Product and are not governed by this

1.5 By indicating your acceptance of this Agreement at the end of these terms and
conditions and sending it to DXAM, or, by otherwise indicating agreement in the
manner requested by DXAM you agree to be bound by this Agreement.

1.6 If you are applying as, or for, a corporate entity, you agree that you have
the authority to bind that entity to this Agreement, and have attached such written
Authority to this Agreement or otherwise have sent it to DXAM.


2.0 Definitions

In this Agreement:

“Account” means your account with DXAM in relation to any investment of Financial
Products held with us, accessible via APN Online.

“Account details” means information relating to your Account, including but not
limited to your name, address and the nature and amount of your investments,

“Agreement” means this user agreement governing the access to and use of APN Online.

“Application Form” means an application form that is available for download from
the Website or as an online form to be completed and submitted electronically via
the Website or through APN Online, relating to the issue of Financial Products by
DXAM to you.

“DXAM”, “Us” or “We” means Dexus Asset Management Limited ACN 080 674 479, AFSL 237500 or any
of its associates or related bodies corporate, within the meaning in the Corporations
Act, that issue Financial Products.

“APN Online” means a service available via the Website and operated by APN FM which
includes access to view, modify your Account details, and transact on your Account.

“Client” means a wholesale or retail client, as defined in the Corporations Act.

“Content” means any information and material provided on the Website which is made
available by us, including information associated with Financial Products.

“Corporations Act” means the Corporations Act 2001(Cth) and the regulations made
under that legislation, as modified.

“Financial Product” means a financial product, as defined under the Corporations
Act, that is issued by APN FM under the relevant disclosure document.

“Login Details” means the username and password we may provide you with, or as modified
by you from time to time, granting you to access APN Online.

“Unit balance” means the number of units held by an investor in funds operated by

“You” or “your” means those person(s) who wish to have access to APN Online subject
to and on the terms and conditions of this Agreement.

“Website” means the website located at, which APN FM has developed
and is the proprietor of.

“Withdrawal price” means the withdrawal price of units in funds operated by APN


3.0 Access

3.1 We agree to you to accessing the Website and APN Online on the terms and conditions
set out in this Agreement and for the purposes of:

(a) accessing your Account;

(b) making modifications to your Account;

(c) transacting on your Account, which includes applying for additional units of
a Financial Product;

(d) facilitating an application for Financial Products by completing and submitting
an Application Form online; and

(e) accessing the Content,

or such other facilities in relation to your Account that DXAM wish to offer you
from time to time.

3.2 Access to the Website or to APN Online is only available to residents of Australia
and, unless expressly stated otherwise, does not constitute an offer or solicitation
for the purchase of Financial Products.

3.3 Where you have accessed APN Online or the Website as agent or trustee of a person,
you are bound by these terms and conditions as a trustee or agent of that person.


4.0 Application for Financial Products

4.1 You may be able to apply for Financial Products via APN Online on the basis
of a properly completed and submitted Application Form, or by downloading an electronic
copy of an Application Form made available to you on the Website and sending it
in to DXAM once properly completed.

4.2 In doing so, you agree that:

(a) you have been provided and have read the relevant disclosure documents in their
complete and unaltered form (be it paper of electronic) prior to applying for a
Financial Product; and

(b) you understand that upon request to DXAM, DXAM will provide you with paper
copies of any disclosure document that has been provided to you electronically.

4.3 You agree:

(a) that all information contained in the completed Application Form is true, accurate,
current and complete;

(b) that upon lodgment of an Application Form via APN Online, you will print the
Application Form, ensure that you have signed the Application Form and post it to

(c) that you will use best endeavours to provide any information or documentation
relevant to your use of APN Online in order to assist DXAM in relation to any
discrepancies that DXAM may discover and any queries or demands that DXAM may
receive from any regulatory, law enforcement or statutory body; and

(d) where you have provided access to the Website for another person to apply for
Financial Products, you will ensure that they have read the relevant disclosure
document for that Financial Product.

4.4 You warrant that, prior to the lodgment of an Application Form or request for
any modification to or transaction on your Account, you have the appropriate authority
to proceed with the relevant application, modification or transaction request via
APN Online.


5.0 Login Details

5.1 On acceptance of this Agreement, we will issue Login Details to you.

5.2 You are responsible for maintaining the secrecy and confidentiality of your
Login Details and any other means of identification required for you to access APN
Online, including any additional Login Details that may be issued to you from time
to time.

5.3 You agree not to record your Login Details in the same place or in a manner
in which their confidentiality could be compromised.

5.4 If you become aware or suspect that:

(a) your Login Details (or any part of them) have been lost, stolen or misused;

(b) any person has obtained knowledge of your Login Details;

(c) any person is accessing APN Online without your authorisation; or

(d) the security of your Login has otherwise been compromised,

you will immediately:

(a) notify us by telephoning us on the telephone number available on the Website
(or any other number that we advise you of from time to time); and

(b) We will issue your new Login Details.

5.5 You are responsible for any action carried out, and authorise us to act upon,
any instructions given by any person having accessed APN Online with your Login

5.6 You accept full responsibility and indemnify us for any expenses, loss, damage,
costs, demands or liabilities incurred by us directly or indirectly, out of or in
connection with, the use, including (without limitation) any improper or unauthorised
use of your Login Details.

5.7 You must only access APN Online for legitimate and lawful purposes and in accordance
with any instructions or directions posted to you or on APN Online or the Website
from time to time.

5.8 You acknowledge that we may withdraw or restrict your access to the Website
or APN Online at any time and can withdraw or restrict your access if you instruct
us to do so.


6.0 Value of your investment in the

Financial Products and Unit Prices

6.1 The value of your investment(s) in the Financial Products as stated in your
Account on APN Online is based on the latest allotted Withdrawal price and your
unit balance as recorded in your Account.

6.2 The latest allotted Withdrawal price is generally the price of the Financial
Product from the previous day. This price may differ from the actual price you may
receive for your investment if you were to lodge or apply for a transaction request
to withdraw your investment. Your actual price will only be confirmed upon APN FM
receiving (whether in paper form or online via APN Online) a completed transaction

6.3 Prices will usually be released after or around 4:00pm (EST), however delays
may occur in updating the prices.

6.4 Your Account details may not reflect any recent changes or transactions made
to the Account.


7.0 Information

7.1 You agree that, at all times, you will provide true, accurate, current and complete
information about you to us.

7.2 If you are providing advice to a person outside Australia you must ensure that
the person does not rely on any advertising, information or other material available
on or via the Website or APN Online.


8.0 Assignment

8.1 You cannot assign your rights under this agreement without the prior written
consent of DXAM.


9.0 Variation

9.1 We may, at our sole discretion, vary or modify this Agreement without notice.
Any subsequent access to, or use of, the Website or APN Online by you will constitute
an acceptance of those modifications.

9.2 You agree that any instructions for using or accessing APN Online provided to
you or posted on APN Online or the Website from time to time form part of the Agreement.

9.3 We will advise you electronically of any material changes to this Agreement
or to any Financial Products.


10.0 Disclaimer

10.1 Any Content available on the Website or APN Online, including (without limitation)
any tools, calculators articles and information about the Financial Products is
of a general nature only. It does not take into account the investment objectives,
particular needs or financial situations of any individuals. The Content does not
purport to provide financial or investment advice or make any recommendations. The
Content should not be relied upon as the basis of an investment decision or as a
substitute for the application of your own knowledge, skill and judgment in fulfilling
any obligations that you may have to your Clients or potential clients.

10.2 Unless expressly stated otherwise, the fact that the Content is accessible
through APN Online or the Website:

(a) is not a recommendation by DXAM of the merits, or a guarantee of the performance,
of any Financial Product; and

(b) is not intended to be a representation that persons will be issued Financial
Products or otherwise be able to acquire any Financial Product by applying for such
Financial Products via APN Online or directly from DXAM.

10.3 You agree that where DXAM is required, by law or otherwise, to provide you
with a document or notice, you consent to the provision of that document or notice
via electronic means and/or through links provided on APN Online. We suggest that
any such document be printed or electronically stored for future reference.


11.0 No express warranty

DXAM makes no warranty that the use or operation of the Website, APN Online, the
Content or any aspect of APN Online or the Website will be uninterrupted or error-free
or that APN Online, the Website or any of its functions are suitable for any particular
purpose or have any performance, functionality or security features except as required
by law.


12.0 Limitation of liability

Where any Act, law or statute implies in this Agreement any term, condition or warranty
and that Act, law or statute avoids or prohibits a contract excluding or modifying
the application of or exercise of or liability under such term, condition or warranty,
such term, condition or warranty will be deemed to be included in this Agreement.
However, the liability of DXAM for any breach of such term, condition or warranty
will be limited, at the option of DXAM, to:

(a) if the breach relates to goods:

(i) the replacement of the goods or the supply of the equivalent goods;

(ii) the payment of the cost of replacing the goods or of acquiring equivalent goods;

(b) if the breach relates to services:

(i) the supply of the services; or

(ii) the payment of the cost of having the services supplied again.


13.0 Intellectual property

13.1 All trade marks on the Website and APN Online are owned, or used under licence
by, us.

13.2 Nothing contained on the Website or APN Online should be construed as granting
any licence or right to use any trade mark. Your use of the trade marks, or any
other Content, except as provided herein, is strictly prohibited.

13.3 All Content is protected by copyright laws and is owned, or used under licence
by, us.

13.4 You agree not to delete any copyright notices or other indications of protected
intellectual property rights from materials that you print or download from the
Website or APN Online. You will not obtain any intellectual property rights in or
any right or licence to use the Content on the website or on APN Online other than
as set out in this Agreement.

13.5 You agree not to upload, post, reproduce or distribute any information, software
or other material protected by copyright or any other intellectual property right
(as well as the rights of publicity and privacy) that are not expressly authorised
by us.


14.0 Privacy

14.1 You agree that we may handle your personal information in accordance with our
privacy policy as amended from time to time.


15.0 Anti-money laundering and other illegal activities

15.1 To meet our regulatory and compliance obligations under the Anti-money Laundering
and Counter Terrorism Financing Act 2006 (Cth) and relevant regulations and rules
(“AML Legislation”), we may need to:

(a) delay, block or refuse transactions where we have reasonable grounds to believe
that these transactions breach Australian law or the law of any other country; and

(b) from time to time, require additional information from you to assist us in meeting
our obligations as required by the AML Legislation.

15.2 You acknowledge that, the information collected by DXAM may be used for identification
purposes, and may be disclosed to a third party verification service, in accordance
with our privacy policy, to enable APN FM to comply with all its customer identification
obligations under the AML Legislation.

15.3 We may disclose the information gathered by us to regulatory and/or law enforcement
agencies in accordance with AML Legislation and our privacy policy.

15.4 You agree that you must not initiate, engage in or effect a transaction that
may be in breach of Australian law or the law of another country including (but
not limited to) the AML Legislation.


16.0 Jurisdiction

16.1 This Agreement is governed and construed in accordance with the laws of Victoria,
Australia. You irrevocably and unconditionally submit to the non-exclusive jurisdiction
of the courts of Victoria.