Modulo per adeguata verifica del cliente e valutazione del ......soggetto per conto del quale...

Modulo di adeguata verifica D.lgs. 231/2007 – Persone Giuridiche – Ed. Maggio 2016

Modulo per adeguata verifica del cliente

e valutazione del livello di rischio di riciclaggio e di

finanziamento del terrorismo

(ai sensi del D.Lgs. n. 231 del 21 novembre 2007) QUESTIONARIO - PERSONA GIURIDICA - RAPPORTO CONTINUATIVO

Obblighi di adeguata verifica della clientela. Spettabile Cliente, al fine del corretto assolvimento degli obblighi antiriciclaggio previsti dal decreto legislativo 21 novembre 2007 n. 231, che dà attuazione in Italia alle disposizioni della Direttiva 2005/60/CE relativa alla prevenzione dell'uso del sistema finanziario a scopo di riciclaggio dei proventi di attività criminose e di finanziamento del terrorismo, Le sottoponiamo il presente questionario. Le nuove disposizioni, infatti, richiedono per una completa identificazione ed un'adeguata conoscenza del cliente e dell'eventuale titolare effettivo la raccolta di informazioni ulteriori rispetto a quelle già richieste in fase di censimento anagrafico, anche nei confronti della clientela già acquisita. La menzionata normativa impone al cliente di fornire, sotto la propria responsabilità, tutte le informazioni necessarie ed aggiornate per consentire alla banca di adempiere ai nuovi obblighi di adeguata verifica e prevede specifiche sanzioni nel caso in cui le informazioni non siano fornite o siano false. Le informazioni fornite saranno inoltre utilizzate al fine del corretto assolvimento della normativa in materia di trasparenza bancaria di cui al titolo VI del d.lgs. 385/1993 e alle relative disposizioni attuative, che prevedono per le banche obblighi informativi differenziati in funzione delle categorie di appartenenza della clientela.

Informativa privacy Le indicazioni che precedono sono fornite al cliente, e, per il suo tramite, all’eventuale titolare effettivo, anche ai sensi della normativa sulla privacy (art. 13 d.lgs. 196/2003 – Codice in materia di protezione dei dati personali). Si informa inoltre che il conferimento dei dati personali per l’identificazione dell’interessato e per la compilazione del presente questionario è obbligatorio per legge e, in caso di loro mancato rilascio, Bank Sepah – Filiale di Roma, non potrà procedere ad instaurare il rapporto o ad eseguire l’operazione richiesta e dovrà valutare se effettuare una segnalazione all’Unità di Informazione Finanziaria presso la Banca d’Italia. I dati dell’interessato potranno essere trattati anche con procedure informatizzate per le seguenti finalità: 1) individuare il profilo di rischio di riciclaggio, associato alla clientela ed alle operazioni dalla stessa effettuate, al fine di adeguare le attività di verifica poste dalla legge a carico delle banche; 2) individuare la categoria di appartenenza della clientela, al fine di adeguare gli obblighi informativi posti a carico delle banche dalla normativa in materia di trasparenza bancaria. Bank Sepah – Filiale di Roma, qualora rivesta la qualifica di “terzo” ai sensi degli artt. di cui alla Sezione IV, Capo I, Titolo II, Del D. Lgs. n. 231/2007, potrà trasmettere ad altro intermediario assoggettato agli obblighi di adeguata verifica le informazioni del presente questionario nonché le copie necessarie dei dati di identificazione e di verifica e di qualsiasi altro documento pertinente riguardante l’identità del cliente o del/dei titolare/i effettivo/i. Per ogni altra informazione sull’uso dei dati e sui diritti dell’interessato (art. 7 d.lgs. 196/2003) si prega comunque di consultare l’informativa più dettagliata consegnata dalla banca e disponibile presso la nostra sede e sul nostro sito internet.

Modulo di adeguata verifica D.lgs. 231/2007 – Persone Giuridiche – Ed. Maggio 2016

modulo 2 / 7

Quadro A - DATI RIFERITI AL CLIENTE

1. Generalità del cliente:

[ ] Persona fisica

Nome e cognome

Luogo e data di nascita

Codice Fiscale

Luogo di residenza

Documento di identificazione numero

Rilasciato da il scadenza

Persona politicamente esposta: [ SI ] [ NO]

Informazioni sul titolare del rapporto

[ ] Dipendente [ ]Imprenditore [ ] Libero professionista [ ] Lavoratore autonomo

ATTIVITA’ COD. ( ) DESCRIZIONE ( )

[ ] Non occupato [ ] Casalinga [ ] Studente [ ] Pensionato [ ] Altro

[ ] Persona giuridica/ditta individuale

Denominazione della Società/Ente giuridico

Nome e Cognome del Legale Rappresentante/Soggetto delegato ad operare


Codice Fiscale

Luogo di residenza



Persona politicamente esposta [ SI ] [ NO ]

COD. S.A.E. R.A.E. ATECO

Provincia / Stato dell’attività economica prevalente

SUSSISTENZA DEL TITOLARE EFFETTIVO: [ SI ] [ NO ] [ ] Non presente

Quadro B – DATI RIFERITI AL TITOLARE EFFETTIVO

Titolare Effettivo (1) Nome e cognome


Codice Fiscale

Luogo di residenza



Persona politicamente esposta □ SI □ NO

Titolare Effettivo (2)

Nome e cognome


Codice Fiscale

Luogo di residenza




Titolare Effettivo (3)

Nome e cognome


Codice Fiscale

Luogo di residenza




Quadro C – DATI RIFERITI AL RAPPORTO

DATI RIFERITI AL RAPPORTO Natura del rapporto continuativo:

[ ] [ ]

Erogazione garanzia

Altro (specificare )

Natura operazione occasionale Scopo del rapporto o dell’operazione occasionale:

[ ] [ ]

Finanziamento

Altro (specificare )

IMPORTO OPERAZIONE

PROVINCIA DI DESTINAZIONE

PAESE CONTROPARTE

Quadro D – DATI IDENTIFICATIVI DELL’EVENTUALE ESECUTORE PER CONTO DEL TITOLARE

Nome e cognome


Codice Fiscale

Luogo di residenza




Tipo delega: [ ] Legale rappresentante [ ] Tutore [ ] Delegato [ ] Delegato occasionale [ ] Esibitore

QUADRO E – DOCUMENTAZIONE A SUPPORTO

fotocopia del documento di identificazione

altro (specificare)

………………………………………………………………………………………………………………… ……………………………………………………………..………………………………………

QUADRO F – SOTTOSCRIZIONI

Consapevole delle responsabilità previste dal decreto legislativo n. 231/07 e presa visione dell’informativa riportata in premessa, confermo le informazioni e i dati dichiarati e mi impegno a comunicare tempestivamente all’Intermediario

ogni eventuale variazione intervenuta.

data Firma del titolare/delegato/esecutore del rapporto

…………………………. …………………………………………………..

DATI IDENTIFICATIVI DEL SOGGETTO TERZO INCARICATO DELL’IDENTIFICAZIONE

Nome ………………………………………………….

Cognome………………………………………………

Tipo documento………………………………………

N. documento…………………………………………

Rilasciato da/il ………………………………………..

Codice Fiscale…………………………………………

Spazio riservato alla Banca:

□ Addetto che ha raccolto le informazioni e innanzi al quale il dichiarante ha apposto la firma nel

presente quadro.

□ Addetto che ha identificato il cliente non fisicamente presente.

Data Nome e Cognome

.................................... ………………………………………………

Riferimenti normativi DECRETO LEGISLATIVO 21 novembre 2007, n. 231 Attuazione della direttiva 2005/60/CE concernente la prevenzione dell'utilizzo del sistema finanziario a scopo di riciclaggio dei proventi di attività criminose e di finanziamento del terrorismo nonché della direttiva 2006/70/CE che ne reca misure di esecuzione. (GU n.290 del 14-12-2007 - Suppl. Ordinario n. 268 ) Obblighi del cliente Art. 21 – I clienti forniscono, sotto la propria responsabilità, tutte le informazioni necessarie e aggiornate per consentire ai soggetti destinatari del presente decreto di adempiere agli obblighi di adeguata verifica della clientela. Ai fini dell'identificazione del titolare effettivo, i clienti forniscono per iscritto, sotto la propria responsabilità, tutte le informazioni necessarie e aggiornate delle quali siano a conoscenza. Sanzioni penali Art. 55, comma 2 – Salvo che il fatto costituisca più grave reato, l'esecutore dell'operazione che omette di indicare le generalità del soggetto per conto del quale eventualmente esegue l'operazione o le indica false è punito con la reclusione da sei mesi a un anno e con la multa da 500 a 5.000 euro. Art. 55, comma 3 – Salvo che il fatto costituisca più grave reato, l'esecutore dell'operazione che non fornisce informazioni sullo scopo e sulla natura prevista dal rapporto continuativo o dalla prestazione professionale o le fornisce false è punito con l'arresto da sei mesi a tre anni e con l'ammenda da 5.000 a 50.000 euro.

Titolare effettivo Art. 1, co. 2 lett. u) – “titolare effettivo”: la persona fisica per conto della quale è realizzata un’operazione o un’attività, ovvero, nel caso di entità giuridica, la persona o le persone fisiche che, in ultima istanza, possiedono o controllano tale entità, ovvero ne risultano beneficiari secondo i criteri di cui all’allegato tecnico al presente decreto, qui di seguito riportato

Per titolare effettivo s’intende: a) in caso di società: 1) la persona fisica o le persone fisiche che, in ultima istanza, possiedano o controllino un’entità giuridica, attraverso il possesso o il controllo diretto o indiretto di una percentuale sufficiente delle partecipazioni al capitale sociale o dei diritti di voto in seno a tale entità giuridica, anche tramite azioni al portatore, purché non si tratti di società ammessa alla quotazione su un mercato regolamentato e sottoposta a obblighi di comunicazione conformi alla normativa comunitaria o a standard internazionali equivalenti; tale criterio si ritiene soddisfatto ove la percentuale corrisponda al 25 per cento più uno di partecipazione al capitale sociale; 2) la persona fisica o le persone fisiche che esercitano in altro modo il controllo sulla direzione di un’entità giuridica; Nozione di persona politicamente esposta Art. 1, co. 2 lett. o) – “persone politicamente esposte": le persone fisiche residenti in altri Stati comunitari o in Stati extracomunitari, che occupano o hanno occupato importanti cariche pubbliche nonché i loro familiari diretti o coloro con i quali tali persone intrattengono notoriamente stretti legami, individuate sulla base dei criteri di cui all'allegato tecnico al presente decreto, qui di seguito riportato 1. Per persone fisiche che occupano o hanno occupato importanti cariche pubbliche s'intendono: a) i capi di Stato, i capi di Governo, i Ministri e i Vice Ministri o Sottosegretari; b) i parlamentari; c) i membri delle corti supreme, delle corti costituzionali e di altri organi giudiziari di alto livello le cui decisioni non sono generalmente soggette a ulteriore appello, salvo in circostanze eccezionali; d) i membri delle Corti dei conti e dei consigli di amministrazione delle banche centrali; e) gli ambasciatori, gli incaricati d'affari e gli ufficiali di alto livello delle forze armate; f) i membri degli organi di amministrazione, direzione o vigilanza delle imprese possedute dallo Stato. In nessuna delle categorie sopra specificate rientrano i funzionari di livello medio o inferiore. Le categorie di cui alle lettere da a) a

e) comprendono, laddove applicabili, le posizioni a livello europeo e internazionale. 2. Per familiari diretti s'intendono: a) il coniuge; b) i figli e i loro coniugi; c) coloro che nell'ultimo quinquennio hanno convissuto con i soggetti di cui alle precedenti lettere; d) i genitori. 3. Ai fini dell'individuazione dei soggetti con i quali le persone di cui al numero 1 intrattengono notoriamente stretti legami si fa riferimento a: a) qualsiasi persona fisica che ha notoriamente la titolarità effettiva congiunta di entità giuridiche o qualsiasi altra stretta relazione d'affari con una persona di cui al comma 1; b) qualsiasi persona fisica che sia unica titolare effettiva di entità giuridiche o soggetti giuridici notoriamente creati di fatto a beneficio della persona di cui al comma 1.

QUADRO G – A CURA DI BANK SEPAH

CLIENTE (denominazione)……………………………………N. PRATICA………………………………………… 1 – Comportamento tenuto dal cliente nella compilazione del questionario

□ Collaborativo

□ Falso collaborativo

□ Reticente

Note:

2 - Coerenza del rapporto di garanzia e di finanziamento

□ Coerente

□ Inusuale rispetto al mercato e all’operatività dell’impresa □ Illogica perché priva di convenienza finanziaria

Note:

3 - Individuazione del titolare effettivo

□ Titolare effettivo non presente

□ Titolare effettivo non individuabile

□ Presenza di elementi che inducono a ritenere falsa la dichiarazione

Note:

4 - Condanne o pendenze penali/misure cautelari relative ai reati di riciclaggio

□ Nessun procedimento

□ In corso

□ Estinte

Note:

5 - Reiterate estinzioni prima della scadenza e rinnovi anomali

□ No □ Si, con stessi intermediari

□ Si, con intermediari diversi

Note:

l’Incaricato della verifica sulla base di quanto sopra riportato assegna il seguente profilo di rischio

[ ] Basso e Medio [ ] Alto

Firma del Compilatore ………………………………………….

Firma del Responsabile ………………………………………………

(la firma del responsabile è obbligatoria per verifica rafforzata)

MODELLO N. 1

CONTRATTO APERTURA CONTO PER NON RESIDENTI EURO E/O DIVISA ESTERA

PERSONE FISICHE E/O GIURIDICHE

BANK SEPAH COPY FOR THE CUSTOMER (pagg. n. 12) Rome Branch

NOTICE TO FOREIGN CUSTOMERS

Dear Client,

Thank you for choosing our Bank.

It is important that trust and transparency regulate our Bank-Client relationship; therefore, we are pleased to provide you with an English translation of the key legal documents that you need to sign in order to open a current account with us and to make use of the banking services we offer.

Please note that documents containing the financial terms and conditions (such as interest rates, value dates, fees and charges, etc.) relating to banking products and services have not been translated as such information is specifically tailored to each individual client. This information is contained in the following documents which are available in Italian:

- Il Documento di Sintesi (The Summary) which can be found on the front page of The Bank Current Account

Agreement; - Le Condizioni Economiche (Financial Terms and Conditions) for each of the banking services: Conto Corrente

Bancario (Bank Current Account), Bancomat (ATM or Cash Dispenser), Affidamenti (Loans), etc..

Please note that, for all legal purposes, the Italian version of the agreement is the sole document which is valid and effective.

You are kindly requested to sign a copy of this letter.

Yours faithfully

BANK SEPAH Rome Branch

To

Further to your request of today and as agreed by all parties concerned, we are pleased to inform you of the coming into effect of the services offered, in accordance with the specific sections of this contract. The services will be governed by the laws and contractual regulations applicable to each of them as detailed in the under mentioned sections, but also by the below detailed "General Terms and Conditions governing the Bank-Customer relationship" which may only be referred to the sections concerning the services offered by the Bank. In order to confirm your obligations as stated in this contract, you are kindly requested to return the attached copy to us duly signed by you three times at the foot thus confirming your agreement with all legal and financial terms and conditions of this document and specifically with some onerous clauses and acknowledging receipt of the specimen of this letter due to you.

GENERAL TERMS AND CONDITIONS GOVERNING THE BANK-CUSTOMER RELATIONSHIP

Art. 1 - Due diligence to be applied by the bank in its relationship with its customers

1. The bank applies to its relationship with its customers the due diligence pertaining to its professional status and the nature of its activity, in accordance with the provisions of art. 1176 of the Italian Civil Code. (1)

Art. 2 - Publicity and transparency of terms and conditions and Customers' Complaints Bureau 1. The bank, in its relationships with its customers, complies with the provisions of the Legislative Decree no. 335 of 1 September 1993 no. 335 as subsequently amended and supplemented (Banking and Financial Consolidation Act) and the related provisions of implementation. 2. If any complaint arises regarding the relationship with the bank, the customer may contact the bank's Complaints Bureau (Via Barberini n. 50

00187 ROMA) which replies within 30 days from receipt of the claim. For any further information regarding the claim forwarding and treatment procedures consult the Policy on customer claim treatment by Bank Sepah, Rome Branch, which is available at every branch of the bank and from the following web site address: : www.mps.it under the section "reclaim" (claims). 3. Depending on the kind of service supplied by the bank, if the customer is not satisfied with the treatment of a claim he/she may resort, provided certain conditions are met, to the following systems of extrajudicial dispute resolution: - the Banking Financial Arbiter (Arbitro bancario finanziario = ABF), a system of dispute resolution in accordance with art. 128-bis of the Legislative Decree no. 385/1993 (Banking Consolidation Act), following the procedures reported in the special "Practical guide to the ABF" which can be found from the following web site address: www.arbitrobancariofinanziario.it, at the branches of the bank or on the following web site address: www.mps.it under the section "reclami" (claims) (only for disputes regarding banking services); - the Banking Ombudsman, system of dispute resolution established with the Banking Financial Conciliator following the procedures reported in the special Regulation available on the following web site address: www.conciliatorebancario.it, at the branches of the bank and on the following web site address: www.mps.it under the section "reclami" (claims) (only for disputes regarding investment services); 4. the customer may also submit a claim to the Bank of Italy.

Art. 3 - Implementation of the instructions issued by the customers

1. The bank will carry out the instructions issued by its customer within the limits of and in accordance with the terms of each individual contract entered into with the customer; however, the bank may, with valid reason, refuse to act upon the instructions received immediately informing the customer of such refusal. 2. In the absence of specific instructions by the customer, the bank determines the procedure to implement the instructions with the due diligence appropriate to its professional status and in any case taking into account the customer's best interests and the nature of the instructions. 3. With reference to the commitments undertaken and in addition to the rights granted to it by art. 1856 of the Italian Civil Code (2), the bank is, nevertheless, authorized, in accordance with art. 1717 of the Italian Civil Code (3), to have itself replaced in the fulfilment of its duties by one of its, also non-banking correspondent. 4. The customer has the right to withdraw the mandate given to the bank, in accordance with art. 1373 of the Italian Civil Code (4), up to when the mandate has become effective, in line with the procedures of said implementation.

Art. 4 - Forwarding of correspondence to the Bank 1. Any notice, instruction and any other communication of the customer, addressed to the bank, shall be sent to the branch where the account is held. 2. The customer will ensure that any communication and written instruction, in addition to any other document addressed to the bank, including credit instruments, is clear and legible.

Art. 5 - Forwarding of correspondence to the customers

1. Any letter or statement of account, any notice, or any other statement or communication of the Bank, including those relating to these "General terms and conditions", will be sent to the customer, with full effect, to the latest address as notified in writing. 2. If not otherwise stated, when an account is opened in the names of several joint account holders, any communication, notification and statement of account shall be sent by the bank to only one of the account holders to his/her latest address, as notified in writing, and such communications will be fully effective in respect of all account holders.

Art. 6 - Identification of customers and of any other party entering into a relationship with the bank

1. Upon establishing each individual relationship, the customer will give his/her own proof of identification and those ones of the persons, if any, who will be authorized to represent him/her with the bank, as well as other necessary data and information, in compliance with current regulations, including those ones related to money laundering . 2. In order to safeguard its customer, the bank, while executing the customer's instructions, will assess whether the documents produced are suitable to prove the personal identity of the parties - such as cheque bearers, beneficiaries of payment orders, etc - entering in relationship with the bank.

Art. 7 - Tax obligation

1. The Customer undertakes to provide the Bank with all financial and personal data necessary to comply with tax regulations including the provisions ruling the international exchange of information with tax authorities of third countries. 2. If it is requested by the Bank, the Customer has also to provide any explanations, additional documents or statements which may prove the accuracy, the completeness and the truthfulness of the financial and personal data and information provided. Moreover, the Customer shall use the utmost diligence to autonomously report any changes in status and circumstances concerning the data and information provided to the Bank so that they can be timely updated. 3. To obtain such data and information from the Customer, the Bank may use any procedure prescribed by law from time to time, including the use of techniques of distance communication in electronic form and/or telematic (e-mail, fax, etc.) which the Customer declares to accept from now on. 4. The Bank is not responsible for the accuracy, completeness and truth fullness of the data and information received from the Customer or their failed updating due to the Customer. The latter is therefore responsible for the consequences that may result from the release of data and information false, incomplete, inaccurate or untimely, as well as the failure to update due to these and to this end, undertakes to indemnify the Bank and any third party having the right from any harm that may be suffered by the Bank and / or third parties, including as a result of imposition of sanctions.

Art. 8 - Deposit of authorized signatures

1. The signatures of the customer and of those parties authorized to operate with the Bank are deposited with the branch where the account is held. 2. In their relationships with the bank, the customer and the parties, mentioned in the previous paragraph, will use their signatures graphically corresponding to the deposited ones or - subject to prior agreement of all parties - to any other forms authorized by the laws in force (e.g.: e-signature).

Art. 9 - Power of attorney

1. The customer must state, in writing, the names of the persons authorized to act on his/her behalf with the bank, specifying the limitations, if any, of their powers. 2. Any revocation or amendment of the powers granted to the authorized persons as well as their waiver cannot be objected the Bank until it has received the relevant notice by registered letter, telegram, telex, fax, or such notice is delivered to the branch where the account is held and at least one day has passed from receipt of such notice; the same applies when the revocation, amendment and waiver has been publicly disclosed.

http://www.mps.it/

http://www.arbitrobancariofinanziario.it/

http://www.mps.it/

http://www.conciliatorebancario.it/

http://www.mps.it/

3. Unless otherwise specifically provided for, a subsequent authorization to utilise the account does not imply an implicit revocation of any previous authorization. 4. When the same account is held by joint account holders, the parties authorized to act for the joint account holders must be appointed in writing by all joint account holders. Departing from the terms of Art. 1726 of the Italian Civil Code (5), the power of attorney may be revoked by one single account holder, whereas any amendments of the power of attorney must be confirmed by all joint account holders. The provisions of the previous paragraph apply to both the form and the effect of revocations, amendments or waiver. The account holder giving the instruction to revoke must inform the other account holders accordingly. 5. The Bank is not liable for any other cause of termination of the power of attorney until it receives formal and legally binding notification; the same applies also when the account is held by more than one joint account holder.

Art. 10 - Joint account holders with the right to utilise the account severally

1. When the account is held by several joint account holders, each one being authorized to operate the account severally, any joint account holder may instruct the bank in respect of said account, thus fully releasing the bank from any obligation also towards the other account holders. The right to act on a several basis may be amended or revoked only by way of written communication to the bank by all the joint account holders. On the other hand, closure of the account may be requested by any one joint account holder, who must immediately inform accordingly all other account holders. 2. The joint account holders are jointly and severally liable to the bank for all obligations which may result for whatever reason, even by way of a deed or action of a single joint account holder, especially for those obligations arising from credit lines even if they are only granted to one account holder and are unknown to the other ones. 3. In case of death or of intervened legal incapacity of one of the joint account holders, each of the other holders retains its right to severally access the account. The same right is acquired by the heirs of the deceased account holder, who must however act jointly, and the legal representative of the incapacitated account holder. 4. In the cases mentioned in the previous paragraph, the bank must claim the concurrence of all account holders, and of their heirs and legal representatives of any incapacitated persons, if any of said party has communicated to the bank his/her objection, even if by registered letter only.

Art. 11 - Right to a guarantee

1. The bank has the right to take a pledge and to retain title over securities or other valuables pertaining to the customer, who is not qualified as a consumer in accordance with art. 3 of the Code of Consumption (Legislative Decree no. 206 of 6 September 2005). These securit ies and valuable are held by the bank or subsequently received by the bank, as security in respect of any amounts payable, notwithstanding the fact that such amounts are not liquid and due and are supported by a collateral or a personal security. Such amount may be a payable balance on current account and/o a result from banking transactions, such as: any type of credit facilities, letters of credit, documentary credits, advances on securities or goods, advances on credits, discounting or trading of securities or other financial instruments, granting of guarantees to third parties, guarantee deposits, Stock Exchange contangos, trading of securities and foreign currencies, brokerage or supply of services. The right to take a pledge and to retain titles are exercised on above-mentioned securities and valuables or on part of them for amounts duly related to the loans claimed by the Bank and anyhow not higher than twice said loans. In particular, any credit assignment and secured credit anyway granted in favour of the bank shall guarantee any other credits of the Bank towards the same customer irrespective of when it was established or whether the credit is due and payable.

Art. 12 - Set-Off 1. When the customer has more than one relationship or account of any type or nature, including deposits, with the bank, the bank has the right, with full effect, to apply legal set-off also when the various accounts are held with other domestic and foreign branches of the bank. 2. If any of the assumptions stated in art. 1186 of the Italian Civil Code (6) becomes applicable or any event occurs which negatively affects the financial or economic situation of the customer in such way that the bank's recovery of its credit is clearly jeopardized, the bank has the right of set-off, at any time, even if the amounts concerned, although in different currencies, are not yet due and payable. The bank may exercise the right of set-off without having any obligation to give any advance notice to the customer or follow any specific procedure, being however, understood that the bank will promptly notify the set-off to the customer in writing. The exercise of the set-off will release the bank from its obligation to cash any further cheque presented for payment (refer to the cheque agreement). 3. In the event of the account being held by joint account holders, the bank has the right to exercise the rights stated in the previous paragraph and in art. 10, up to the amount of the total resulting credit, also accessing any account and other relationships pertaining to only some of the account holders. 4. The right of set-off as per par. 2 cannot be exercised in respect of those accounts where the customer acts as consumer in accordance with art. 3 of the Code of Consumption unless otherwise later agreed with the customer himself.

Art. 13 - Joint and several liability of the obligations undertaken by the customers and allocation of payments 1. All obligations of the customer towards the bank, and in particular those obligations resulting from credit lines, are deemed to have been undertaken jointly and severally, including if the account is held by joint account holders, and also apply to any assignee of the customer. 2. If the customer has more than one account with the bank, the customer has the right, in accordance with art. 1193, par. 1° of the Italian Civil Code, to specify, upon payment, which debt he wants to settle. In the absence of such notification, and with the exception of the customer being a consumer, in derogation of Art. 1193, par. 2° of the Italian Civil Code (7), the bank may apply any amount received from the customer, or received by the bank from third parties on behalf of the customer, to repay or to reduce one or more obligations undertaken by the customer, subject to notification to the same.

Art. 14 - Determination of terms and conditions and their amendment 1. The financial conditions applicable to the accounts with the customer are detailed in the specific sections "Financial conditions" which are an integral part of this document. 2. If there are good reasons, the bank reserves the right to amend the financial and contractual conditions applied to this contract except for the interest rate in presence of a term contract, which will be notified to the customer via the "Proposal of unilateral amendment to the contract" upon notice of at least 2 months in writing or via another durable mean previously agreed upon and accepted by the customer , in compliance with the provisions of art. 118 of the Legislative Decree no 385/1993 (8). 3. The amendment is deemed to be approved if the Customer does not withdraw, without penalty, from the account within the date provided for its application. In case of withdrawal the customer has the right of application of the conditions previously applied 4. In any case, the Customer has always the right to withdraw from the contract without penalty and without closing costs.

Art. 15 - Taxation 1. Taxes, which the bank must pay in respect of its services granted to the customer, are to be charged to the customer.

Art. 16 - Applicable law and competent Court and extrajudicial dispute resolution

1. The contract is governed by Italian law. 2. For any dispute which may arise between the parties in connection with the contract, competent Court is the court provided for by Italian law (s. articles 1 and following articles of the Italian Code of civil procedure). If the Customer is qualified as a consumer the competent Court is determined in compliance with the provisions of the Code of Consumption. 3. As to the obligation, provided for by art. 5 of the Legislative Decree of March 4, 2010, no. 28 and following amendments, of starting arbitration proceedings before appealing to the judicial authorities, the contracting parties agreed (to implement the above-mentioned art. 5 par. 5) to submit the disputes, if any, which might arise during the life of this contract, to the following bodies, on the basis of their specific knowledge of banking or financial issues - the Banking Financial Arbiter, a system of dispute resolution in accordance with art. 128-bis of the Legislative Decree no.385/1993 (Banking Consolidation Act), following the procedures reported in the special "Practical guide to the ABF" which can be found on the following website: www.arbritobancariofinanziario.it, in the branches of the bank or on the following website: www.mps.it (the section can only be started by the customer and only for disputes regarding banking services); - Arbitration and Conciliation Centre with the Consob in accordance with Act no. 262/05 implemented by the Legislative Decree no. 179/2007 and, subsequently, by CONSOB Resolution no. 18275 of July 18, 2012 ruling the organization of the Centre and the procedures. The forwarding procedures of the application can be found on the website http://www.camera-consob.it/, in the branches of the bank, or on the following website: www.mps.it (the section can be started by both the bank and the customer for disputes regarding both banking and investment services); - Banking Conciliation Body which is made up of the Banking Financial Conciliation Association according to the procedures provided for by the "Conciliation procedure regulation". which can be found on the following website: www.conciliatorebancario.it, in the branches of the bank or on the following website: www.mps.it (the section can be started by both the bank and the customer for disputes regarding both banking and investment services).

The parties may still start arbitration proceedings, if any, also after having undersigned this contract, also with bodies other than the above-mentioned ones which are registered in the special Register of the Ministry of Justice, with specific knowledge of banking and financial issues and on which both parties agree.

Art. 17 Communications

1. Each communication concerning the contract must be in Italian. 2. The customer may forward communications to the Bank sending them to the branch with which he/she has his/her account or according to the procedures reported in the official website of the Bank.

Art. 18 - Access to the information and to the other conditions of the contract The Customer has the right to receive copy of this agreement as well as information and data concerning it and the Bank according to the terms and conditions provided for by the applicable law.

Art. 19 - Execution and starting date of a remotely underwritten contract

The Customer shall return/forward the underwritten documentation of the agreement to the Bank together with the necessary documents, also via electronic mail, if he/she has a digital signature, to enable the Bank to correctly implement the procedures of adequate/strengthened verification of the Customer in accordance with the Legislative Decree no. 231 of 27 November 2007 ("anti-money laundering"). This agreement is executed only after the Bank's receiving the whole documentation of the contract duly underwritten by the Customer and its implementation of the procedures regarding the adequate/strengthened verification in accordance with and for the purposes of the Legislative Decree no. 231 of 27 November 2007. In case of positive result of the above-mentioned procedures, the Bank shall inform the Customer, in the way notified by the Customer, of the starting moment of the account from which it enters into effect.

Art. 20 - Withdrawal in case of a remotely underwritten contract In case of remote commercialization of this contract in accordance with and for the purposes of art. 67-duocecies of the Code of Consumption, the Customer, who is qualified as a consumer, has 14 (fourteen) days to withdraw from the contract without penalty and without obligation to disclose the grounds subject to the provisions of the following article 67-terdecies. Said period starts from the date as per paragraph 3 of article 67-duodecies of the Code of Consumption. The legal force of the agreement concerning investment services is suspended, subject to the exceptions provided for by art. 67-duodecies, 5 paragraph of the Code of Consumption, during the period provided for exercising the right of withdrawal. The Customer must inform of the withdrawal via a registered letter with advice of receipt to be sent to Bank Sepah, Rome Branch. The request of the Customer, qualified as a consumer, of implementing instructions on the account is equivalent to a request of starting implementation in accordance with and for the purposes of art. 67-terdecies, 1 paragraph of the Code of Consumption.

Art. 21 - Forwarding procedures of the periodical reports

The periodical forwarding of reports to the Customers shall be carried out using following procedures: - Paper report via post - Electronic report to the reported e-mail address or to the fax number The information and communications provided for by law which are sent via paper statement imply the debiting of the respective charges whereas information sent via electronic means are free of charge. The expenses to forward information and communications which are not provided for by law are always to be charged to the customer. If other or more frequent communications than those provided for by the contract or their forwarding via communication instruments other than those provided for by the contract are requested by the customer the relative expenses are to be charged to the customer. The Bank states that the costs charged for the periodical forwarding of reports do not exceed the actual cost of their sending. The costs are reported in the financial terms and conditions related to each service.

http://www.arbritobancariofinanziario.it/

http://www.mps.it/

http://www.camera-consob.it/

http://www.mps.it/


http://www.mps.it/

Art. 22 - Relationship between the current general terms and conditions and the legal terms and conditions ruling each section of the agreement In case of disagreement between the provisions of the section "General terms and condition Bank-customer" and the provisions of the following sections dealing with specific services the latter will prevail.

Art. 23 - Information on the bank

The information on the bank is reported on the title page of the contract The bank is subject to the supervision of the Bank of Italy

(1) Art. 1176, Italian Civil Code: "When complying with its obligations, the creditor must apply the same due diligence as that of a reasonable and prudent man. When complying with the obligations arising from the practice of a profession, such due diligence must be assessed with reference to the nature of the activity undertaken". (2) Art. 1856, Italian Civil Code: "The bank is liable, in accordance with the terms of the mandate, for the execution of the instructions received from the account holder or another customer. If the instructions are to be carried out in a location where the bank does not have a branch, then the bank may instruct accordingly another bank or a correspondent." (3) Art. 1717, Italian Civil Code: "The attorney who, when acting as per the mandate, substitutes another party without being authorized or without any requirement to do so, is liable for the actions of the person he/she substituted. If the principal had authorized the substitution without appointing a specific person, the attorney is liable only if he/she is to blame for his/her choice. The attorney is liable for the instructions he has imparted to the deputy. The principal can directly sue the person replaced by the attorney". (4) Art. 1373, Italian Civil Code: "If one of the parties has the right to withdraw from the contract, this right can only be exercised prior to the coming into effect of the contract. With regard to open-ended or term contracts, such right may also be exercised at a later stage, however any withdrawal will not affect those instructions which have been or are being carried out . If a cancellation fee was agreed, it will be payable once the instruction has been carried out, unless otherwise stipulated. (5) Art. 1726, Italian Civil Code: "If the mandate was given by more than one party with a single document in respect of an act/deal which would benefit all parties, the closure of the account is not effective unless it is confirmed by all joint account holders subject to an otherwise true and just cause". (6) Art. 1186, Italian Civil Code: "Notwithstanding the fact that the term [of the account] has been agreed to benefit the debtor, the creditor may demand immediate payment in the event of insolvency or intentional misrepresentation in respect of the value of a guarantee granted being reduced or refraining from issuing the guarantee promised". (7) Art. 1193, Italian Civil Code: "The party having more than one debt towards the same person can indicate, when making a payment, the specific debt he/she wants to settle. In the absence of such notification, the payment must be applied to the debit due; where more than one debit, to the debit with the lowest level of security; where debits with equal level of security to the most onerous debit; where more than one onerous debit, to the oldest debit If this criteria does not apply, the payment is applied pro rata to all the debits". (8) Art. 118, Legislative Decree, no. 385/1993: "In open-ended contracts the right to unilaterally amend rates, charges and other conditions provided for by the contract may be agreed upon with a clause specifically approved by the customer, if there are good grounds. In the other term contracts the right of unilateral amendment may be agreed upon only for clauses not concerning interest rates, if there are good grounds. Any amendment to the contract shall be expressly communicated to the customer according to procedures clearly showing the wording "Proposal of unilateral amendment to the contract" with a notice of at least 2 months in writing or via other durable mean previously agreed upon by the customer. In the bearer's accounts the communication is carried out according to the procedures set out by the Interdepartmental Committee for Credit and Savings. The amendment is deemed to be approved if the customer does not withdraw, without penalty, from the contract within date established for the coming into force. In this case, while settling the account the customer has the right of applying previous conditions. The amendments to the contract for which the provisions of this article were not complied with are null and void if they are unfavourable to the customer. The changes in interest rates in view of or resulting from monetary policy resolutions simultaneously concern both payable and receivable interest rates and are applied with procedures which are not detrimental to the customers."

Legal terms and conditions - BANK CURRENT ACCOUNT SECTION

Art. 1 - Cheque agreement

1. Transactions involving cheques drawn on the current account are carried out utilising the specific blank cheques forms issued by the bank. The customer is required to issue the statement as per art. 124 of the Act on Cheques (1). 2. The customer is required to take good care of the cheques and relating application forms. The customer will not be responsible for any damages resulting from the unauthorized or illegal use of the above-mentioned forms from the time when he notifies the bank in writing per registered letter, telegram or fax, their loss or theft; it is understood that the bank will continue to exercise due diligence, as per its professional status, in respect of the payment of any cheques also before such notification. The bank advises the account holder directly or also by way of displayed notices, pre-printed forms, etc. of the procedures to follow in order to protect himself/herself against the cheques being utilised illegally (stop payment, claiming etc.). 3. In the event of revocation of the cheque agreement and with the termination of the current account relationship, all unused blank cheques must be returned to the bank. 4. In accordance with regulations governed by "Legal Terms and Conditions - CashPoint/Bancomat/ Pagobancomat Section - Card Use", in the event of CashPoint/Bancomat/Pagobancomat withdrawals which would result in the funds in the account becoming insufficient to cover utilisations, the bank will refrain from paying any cheque received for payment, notwithstanding the fact that these may have been issued on a date prior to the date of withdrawal, and that the bank may have been notified of the withdrawal subsequently to receipt or presentation of the cheques, albeit prior to the account being debited. 5. When a customer holds more than one account, the bank is not obliged to pay any cheques drawn on accounts with insufficient balances, notwithstanding the fact that the other accounts may hold sufficient credit balances, unless the account holder and any other joint account holder of the account where funds are available, gives specific instructions to the bank, prior to the presentation of the specific cheque. 6. In compliance with art. 8-bis of the Act no. 386/90 and further amendments the customer fixes his/her domicile at the post address for each current account which is stated in the "Financial terms and conditions - Bank current account section". 7. In case of an online request for a cheque book via electronic media, the Bank shall charge the shipping costs in accordance with the list of the rates negotiated by the Bank with the major market operators, as disclosed on the Bank's website (www.mps.it) and available at the Bank Branches.

Art. 2 - Debiting cheques and drafts to the account

1. The customer authorizes the bank to debit his/her account, with any cheques and drafts he/she has issued or drawn, even if these are endorsed by illegible, incomplete signature or which , in any case, are not in compliance with the requirements of Art. 11 of the Cheque Act (2) and art. 8 of the Bill of Exchange Act (3).

Art. 3 - Security measures concerning the payment of cheques into the account

1. In view of the fact that, for security purposes, banks cut the upper left corner of any type of cheques and promissory notes presented by customers and issued by the Bank of Italy, Banco di Napoli and Banco di Sicilia, the customer undertakes to verify the validity of the cheques received, taking note that the bank does not accept any of the above-mentioned cheques and promissory notes whose upper left corner has been cut.

Art. 4 - Payment of bank cheques and banker's drafts and of commercial credit collection (RiBa, RID and SDD) into the account

1. The amount on bank cheques and banker's drafts are credited to the account subject to verification and collection, and are available as soon as the terms stated in the "Financial terms and conditions - Bank Current Account Section" have elapsed. The bank may extend such terms solely in case of acts of God, -including staff strikes -which take place in the same bank and/or its correspondents (including non-banking correspondents). The bank will immediately inform the customers of such extension also by way of indirect communications (notices, pre-printed forms, etc.). 2. The value date of a crediting to the account has the sole purpose of determining the start date for the accrual of interest and does not convey the right to the customer to utilise the amount, as per previous par. 1. 3. However, should the bank authorize the customer to utilise, totally or partially said amount in advance, prior to the elapsing of terms as per previous par. 1 and even if interest is accruing on the amount in question, this will not constitute an authorization for future transactions of similar nature. Prior to the elapsing of such terms, the bank reserves the right to debit at any time the amounts of cheques received, as well as to exercise, in the event of non- collection, all rights and actions, including those as per art. 1829 of the Italian Civil Code (4), and to charge the account. 4. After the elapsing of the terms as per previous par. 1, it is understood that the drawee bank, when dealing with bank cheques, or the issuing bank, when dealing with banker's drafts, reserves the right, when applicable, to act directly against the customer in order to recover the amount of the unduly paid cheques. 5. RiBa RID and SDD orders, which are presented for collection by the customer, fall under the provisions contained in the previous paragraphs. It is understood that the paying bank reserves the right to act directly against the customer, as per par. 4, in respect of the orders presented for collection.

Art. 5 - Payment to the account of other instruments, bills of exchange, receipts and similar documents

1. Cheques other than those as per par. 4 (promissory notes and other similar instruments) as well as bills of exchange, receipts and similar documents are credited subject to verification - and to collection - and funds are not available until satisfactory verification of collection by the bank and until the crediting branch has been advised that collection has taken place. 2. The value date of a crediting to the account has the sole purpose of determining the start date for the accrual of interest and does not convey the right to the customer to utilise the amount. 3. However, should the bank authorize the customer to utilise the amount, totally or partially, prior to collection, and even if the accrual of interest has commenced, this will not constitute an authorization for future transactions of similar nature. 4. The bank reserves the right to debit the amount on credit instruments at any time, prior to satisfactory verification or collection even when the bank had granted the customer prior authorisation to utilise the same amount. In the event of non-collection, the bank reserves all rights and actions, including those as per art. 1829 of the Italian Civil Code, as well as the right, at any time, to debit the amount to the account.

Art. 6 - Payment into the account of foreign cheques

1. With reference to the fact that banks in the United States and other countries require a guarantee of repayment by the assignors of cheques and bills of exchange in the event that, subsequently to the payment having been made, an objection is raised in respect of the formal correctness or authenticity and completeness of any endorsement on said instruments, the transferor of said documents for said countries must make good said amounts, at any time and upon simple request of the bank, in the event that the bank receives a similar request from its correspondent or from the drawee. 2. Moreover, the transferor must accept, as legal enforcement and proof of the payment request, any document thus eligible in accordance with the specific foreign law even if it replaces a credit instrument.

Art. 7 - Movements of account

1. Unless otherwise specifically instructed and unless the transaction calls for an alternative requirement, all debit and credit transactions between the bank and the account holder, including credit transfers and remittances by third parties, in favour of the same customer, are to be duly evidenced on said account.

Art. 8 - Utilisation of the current account in foreign currency

1. Whenever foreign currency transactions are authorised by the bank, the customer may make payments to the account in any of the agreed currencies and, accordingly, the relating counter-value will be credited into the account, subject to conversion into euro, or in the agreed currency, at the then current exchange rate as made public by the bank at the date of implementation of the instruction. With similar procedures credit transfers and collections ordered by third parties are credited to the account as well as all transactions in foreign currency ordered by the customer via any mean including cheques. 2. The customer undertakes not to apply the "effective" clause as per art. 1279 of the Italian Civil Code to any foreign currency orders. In the event of non compliance to such obligation, if the order relates to cash payment by the bank, the latter may refrain from complying to such instruction. Therefore, if the beneficiary does not accept any alternative payment procedure, the bank will refuse to carry out the above transaction and the customer will be liable for any related consequence.

Art. 9 - Periodical closing of the account and payment of interest, fees and charges

1. The debit and credit entries (either payable or receivable) on the account are settled on a regular basis and the account will include, with the same value date, interest, fees and charges net of legal tax deductions. The balance resulting from this exercise will accrue interest in the same way. 2. The balance resulting after the actual closing of an account accrues interest as agreed; no capitalization is allowed in this instance. 3. Cheques paid by the bank are debited to the current account of the customer on the agreed value date.

4. Unless otherwise agreed, with the exception of the opening of credit or other credit facilities regulated by the "Legal terms and conditions - Current Account Credit Facilities Section", each party always reserves the right to claim payment for any outstanding.

Art. 10 - Dormant account

1. If the account has been inactive for more than one year and it evidences a credit balance below € 258.23, the bank will cease to pay interest, debit administration charges and send statements of account. 2. The orders given by third parties or the transactions carried out by the bank on its own initiative (such, for instance, crediting of interest accrued and recovery of expenses), or transactions carried out in compliance with legal or administrative provisions will not be considered movements to the account for the purpose of the previous paragraph although implemented during the year of reference.

Art. 11 - Approval of the statement of the account

1. The bank shall send the statements of account as at the pre-agreed closing dates for each accounting period within 30 days from said closing dates also in compliance with the obligations as per art. 1713 of the Italian Civil Code . 2. Subject to the provisions of paragraph 3 here below, and unless specifically contested in writing by the customer within a period of 60 days from the date of receipt, the statements are deemed to be approved by the customer once said period expires. 3. In the event of incorrect recording or computing, omission or duplication of entries, the customer can demand the correction of these mistakes or omissions as well as the crediting, with good value date, of the amounts which were incorrectly debited or omitted within the statutory period from the date of receipt of the statement of account; said correction or crediting will not incur any expenses for the customer. Within the same statutory period, and starting from the dispatch date of the statement, the bank can request the amounts due for the same reasons and for incorrect crediting. 4. Subject to the provisions as per previous paragraphs 2 and 3, any claim relating to the transactions carried out by the bank on behalf of the customer must be submitted by the latter as soon as he has received communication (by letter or by telegram) that said transaction has been executed, and such claim must be in the same form as the above communication (i.e. letter or telegram). After 30 days, the transaction is deemed approved (9).

Art. 12 - Set-off and payment of cheques

1. If the bank applies the legal set-off as per art. 12, par. 1 of the "General terms and conditions governing the bank-customer relationship" the bank is not obliged to pay the cheques which are drawn or presented on a date which is subsequent to the date of set-off on condition that as a result of said set-off, the funds on the account are insufficient. 2. If the bank applies the set-off in respect of funds which are not due and payable, as per art. 12, par. 2 of the General terms and conditions of the contract, the bank is not obliged to pay - within the limits of the shortfall in the account -those cheques which are drawn and presented on a date which is subsequent to the date of receipt by the customer of the notification of set-off. 3. In the above-mentioned cases, the customer is obliged to immediately pay the funds necessary to allow the payment of the cheques drawn on an earlier date than that of the set-off, where the term of submission of said cheques is not yet expired. The customer will pay said funds to the account or accounts where the set-off has been applied and for the amount of the resulting shortfall. 4. The provisions of this article also apply where accounts are in the name of joint account holders.

Art. 13 - Exceeding the limits

1.Exceeding the limits means that the Customer uses funds, if any, guaranted by the Bank, exceeding the current account balance in absence of credit opening. If the Customer is qualified ad a consumer, in case of remarkable excess (i.e. an amount equal to or higher than € 300,00) lasting longer than one month, the Bank informs the Customer in writing, or otherwise as agreed upon, of the excess, its amount, the applicable interest rate, the fines, the charges and the interest in arrears, if any.

Art. 14. Termination

1. Both the customer and the bank have the right at any time to terminate the current account contract and/or from the related cheque agreement subject to a 15-day prior written notice - by registered letter with advice of receipt or without any notice in case of good reasons or just cause - in addition to requesting the payment of all amounts due by each party. The termination of the contract results in the closure of the account. 2. If the bank terminates the current account contract, the bank is not obliged to execute the instructions received, nor to pay any cheque issued, on a date which is subsequent to the date when the termination of the account, duly notified as per the previous paragraph, has become effective. If the bank only terminates the cheque agreement, the bank is not obliged to pay any cheque drawn on a date subsequent to that hereby specified. Any other effect of the bank's termination on the authorization to issue cheques as per art. 9 of the Law dated Dec. 15, 1990, no. 386 as subsequently integrated and/or amended, remains valid. 3. If the customer terminates the current account contract, the bank, subject to the above paragraph, is not obliged to carry out the instructions received nor to pay any cheque drawn on a date prior to the effective date of the termination the latter having been duly notified as per paragraph 1. of this clause; if the termination only relates to the cheque agreement, the bank is not obliged to pay any cheque drawn on a date prior to the date hereby specified. 4. As an exception to the provisions of the first and third paragraphs of this clause, the customer, while exercising the right of termination of the contract, can notify the bank in writing, of his/her requirement for a longer period of notice than stated in the first -paragraph in order to regulate, according to his/her own requirements, the effect of the termination on existing instruction and cheques drawn; the customer may also indicate to the bank, which instructions and cheques he/she wishes to have honoured as long as these were issued prior to the effective date of the termination. 5. The bank will implement the instructions and pay the cheques as indicated in the previous paragraphs within the funds available on the account. 6. The termination of the cheque agreement by one of the joint account holders or by the bank vis-à-vis one of the joint account holders will not impact on the same agreement with the remaining joint account holders if the agreement allows for the joint account holders to carry out separate transactions. 7. The withdrawal from the current account contract and/or from the relative cheque agreement automatically implies the withdrawal from all other services provided for in the contract.

(1) Art. 124 of Royal Decree no. 1736 of 21 December 1933 1736 (and amendments of art. 37 of the Legislative Decree no.507 of 30 December 1999):

"Upon issuing of the cheque forms or post forms the applicant must state to the drawee that he/she is in no way disqualified to issue cheques. The applicant stating falsehood is punished with imprisonment from six-months to two-years". (2) art. 11 of the Royal Decree no. 1736 of 21 December 1933: "Each signature must show the name and surname or the company of the obligor. However the signature in which the name is abbreviated or only initialled is valid". (3) art. 8 of the Royal Decree no. 1669 of 14 December 1933: "Each bill signature must show the name and surname or the company of the obligor. However the signature in which the name is abbreviated or only initialled is valid". (4) Art. 1829 of the Italian Civil Code: "if not otherwise stated by the parties the entry to the account of a credit towards a third party is deemed implemented subject to collection. In this case, if the credit is not settled the receiver may either act for collection or cancel the entry from the account indemnifying the payer. The receiver may cancel the entry from the account after having unsuccessfully started legal claims against the debtor". (5) The disclosed exchange rate is the rate shown in the "pool of exchange rates" in compliance with the current provisions on transparency of banking transactions and services" (6) Art. 1279, Italian Civil Code: -"The contents of the previous article do not apply if the currency, which is not legal tender in the country, is qualified with the clause "effective" or similar wording, unless on the due date it is not possible to obtain this currency". (7) Art. 2 of the resolution of the Credit and Savings Interdepartemental Committee of 9 February 2000: "Interest rates are credited and debited in the current account on the basis of rates and according to the periodicity provided for by the contract. The periodical balance accrues interest according to the same procedure. Payable and receivable interest must be calculated, in each current account, on the basis of the same period. The balance resulting after definitely closing the account may bear interest if provided for by the contract. Periodical capitalization of interest is not allowed on this interest". Art. 6 of the resolution of the Credit and Savings Interdepartemental Committee of 9 February 2000: "The contracts concerning savings collection and credit exercising which are underwritten after the coming into force of this Resolution report the periodicity of the capitalization of interest and the applied interest rate. Whenever an intrannual capitalization is provided for the interest rate is reported on a yearly basis taking into account the effects of capitalization. The clauses concerning capitalization of interest are not effective if they are not specifically approved in writing". (8) Art. 1713 of the Italian Civil Code: "The attorney must account the principal for his/her actions and remit him everything he/she has received because of his/her mandate. The previous exemption from the obligation of account is void if the attorney must account out of fraud or grave offense." (9) This provision is based on art. 1712, Italian Civil Code according to which: "The attorney must immediately inform the principal that the powers under the mandate have been exercised. The delay by the principal in responding after having received this communication, such delay being a longer period than that required by the nature of the transaction or normal practice, implies approval, even if the attorney has not complied with the instructions or has exceeded the limits of the mandate". (10) Art. 9, Law no. 386/1990: "When, in the event of a partially or totally unpaid cheque, due to insufficient funds, such cheque is protested or an equivalent action is carried out, the drawee bank must revoke the authorization granted to the drawer to issue cheques and request the drawer to return the blank cheques. The revocation is communicated to the drawer by registered letter or telegram with acknowledgement of receipt and is effective as from actual receipt. The payment of cheques during the ten days following the date when the notification of said cheque revocation has been sent does not constitute a new authorization according to the par. 1 of art. 10, if there are sufficient funds in the account to cover said cheques. (omissis)×. A new authorization cannot be granted until a period of three months has elapsed from receipt of the notification of revocation. The period increases to six months if the unpaid amount, resulting from one or more cheques issued before receipt of the revocation notice, was for a total amount in excess of €10,329.14". This provision is amended by art. 34, Legislative Decree Dec. 30, 1999, no. 507: "1. In the event of partial or total non-payment of a cheque as a result of the absence of specific authorization or funds, the drawee writes the name of the drawer in the register as per art-10-bis 2. The registration is carried out: a) in the event of non-authorization, within the twentieth day from the date when the cheque is presented for payment; b) in the event of insufficient funds when the period stated in art. 8 is elapsed without the customer producing proof of payment, subject to art. 9-bis, par. 3.3. Such registration constitutes the revocation of any authorization to issue cheques. A new authorization cannot be granted until a six-month period has elapsed from the inscription of the name in the register. 4. The revocation constitutes a six months ban for any bank and post office to enter into any cheque agreement with the drawer and to pay cheques drawn by the later after the inscription in the register even if the account has sufficient funds to cover said cheques". The enforcement of this regulation is governed by art. 105 of the above-mentioned Legislative Decree No. 507/1999.

Legal Terms and Conditions - COLLECTION OR ACCEPTANCE OF BILLS OF EXCHANGE, DOCUMENTS AND CHEQUES SECTION

Art. 1 - Scope and limits of the service

1. The collection and acceptance of bills of exchange, documents and cheques are carried out, on behalf of the customer, on the basis of the regulations hereunder; in respect of collection and acceptances abroad, the Regulations of the International Chamber of Commerce in force as to documentary collections, also apply. 2. The bank is obliged to carry out its activity in accordance with the professional diligence criteria as per art. 1 of the "General terms and conditions concerning the bank-customer relationship"; however, the client is liable for any adverse consequence resulting from actions not pertaining to the bank, including, for example, consequences resulting from: - Incorrect, not precise or insufficient information relating especially to the amount, expiry date, place of payment, name, both on bills of exchange, documents, cheques and remittance slips; - acts of God, impediments and obstacles resulting from current regulations in the place where bills, documents and cheques are to be presented for payment, drawn in the local currency or in foreign currency; or actions by local or foreign authorities, also de facto, or judicial measures or acts (such as seizures, attachments) or third parties' acts. 3. If the customer requests the bank to carry out services in respect of bills of exchange, documents or cheques to be presented in locations which are not recognised by the issuing bank and, generally, in locations where it is difficult to carry out the duties relating to this service, the bank is not liable for these bills and documents not being presented for payment, nor for acceptance or protest not being carried out within the prescribed time. The clause "collection through" and any other similar clause not implying domiciliation, are not binding for the bank which, in any event, is not liable for the protest not occurring in respect of bills of exchange the payment of which is requested through a bank counter located in a place other than the one elected for payment. 4. The bank is entitled to recover from the customer all charges relating to or resulting from the service rendered if the bank has made the payment, including those charges incurred in respect of stamp duty on bills and those relating to financial penalties.

Art. 2 - Notification of non-acceptance and of non-payment of bills

1. The bank is authorized not to send notifications of non-acceptance or of non payment of bills of exchange and cheques and limits itself to return the financial instruments as soon as they are in its possession.

Art. 3 - Bills of exchange with the wording "without charges" or other equivalent

1. In respect of bills of exchange, the bank does not materially present the bills but it sends the drawee a notice inviting him/her to go to the branch for acceptance or payment; this procedure is applied also to bills of exchange marked with the wording "without charges", "without protest" or equivalent, either signed or unsigned. 2. The bank is entitled not to lodge protest where the bills of exchange are marked with the wording "without charges", "without protest" or equivalent which is not signed in accordance with legal requirements.

Art. 4 - Instructions for the extension of the term of bills of exchange

1. In the event of instructions for the extension of the term of bills of exchange, and in the absence of specific written instructions, the bank sends to the bill debtor, a simple notice of the new term granted; this procedure is applied also in the event of bills of exchange with several endorsements or drawn drafts. If the bill of exchange, whose term has been extended, is not paid on the new expiry date, the bank will not, in accordance with the ban as per art. 9 of Act no. 349/1973, serve protest.

Art. 5 - Payment by cheques

1. In case of bills payable by way of bank cheques, the bank in charge of the collection reserves the right to send these cheques to the transferor, as a revenue, without taking on any guarantee irrespective of the fact that it may have endorsed them.

Art. 6 - Discounting or negotiation of bills of exchange, documents and cheques

1. Presentation for acceptance and/or payment of bills of exchange, documents and discounted or negotiated cheques or on which an advance of any kind has been made, is carried out by the bank, -directly or through either a bank or a non-bank correspondent - by applying all regulations stated in the articles of this Section, excluding those as per art. 4. 2. Subject to the regulations relating to crediting to the account cheques, bills of exchange and other instruments, as per articles 4 and 5 of the "Legal Terms and Conditions - Bank Current Account Section", the customer must refund the bank within 3 days from request, if - as a result of an event for which the bank is not liable in accordance with the previous articles - the instruments were not presented and/or protested in accordance with legal requirements; if the bills of exchange, documents or cheques were either lost or destroyed or stolen and the bank is unable to determine their exact circumstances or if , in the event of effected collection, is unable to access the funds.

Legal terms and conditions - CURRENT ACCOUNT CREDIT LINE SECTION

(The clause cannot be applied to credit openings ruled by Title VI, Chapter II, of the Consolidation Banking Act)

Art. 1 - Opening of Credit lines

1. Credit lines that the bank would grant to the current account holder, are subject to the following conditions: -the customer may draw the amount available on the current account in one or more utilisations and may restore the amount available with subsequent payments; -where the credit line is available for an agreed term, the customer is obliged to repay all outstanding amount at maturity, without any prompting by the bank.

Art. 2 - Accrual of interest

1. Interest due by the customer to the bank is calculated at the agreed terms, subject to the regulations contained in art. 9 of the "Legal Terms and Conditions-Bank Current Account Section".

Art. 3 - Interest and "consideration on the granted credit line" (CA)

1. A "consideration on the granted credit line" (hereunder CA) is applied to the opening of credit lines on a current account; the consideration is all inclusive and shall be calculated according to the amount and the actual life of the credit line. Therefore, in case of advanced termination of the account the CA is only calculated for the granting period of the credit line and according to its amount. The all inclusive CA - which is however not calculated on any excess which could be authorized - is specifically periodically reported with the specification of the actual utilization during the reference period. 2. Interest is calculated applying two rates which are previously provided for by the agreement: - An interest rate on overdraft line of credit if the credit line is utilized within the granted amount; - An interest rate for any "amount exceeding the credit line" (the so-called "extra-credit line") which must be authorized anyway. This rate shall be only applied to the amount in excess for the days of the period exceeding the credit line. This "amount exceeding the credit line" shall be otherwise authorized by the Bank.

Art. 4 - Termination

1. The bank has the right, at any time, to cancel the credit lines, including those with an agreed term, and to reduce or suspend them also through verbal notification; the bank will give at least 2-day notice of payment of outstanding by registered letter. 2. If the customer is a consumer in accordance with art. 3 of the Code of Consumption (Legislative Decree no. 206 of 6 September 2005) the bank has the right to cancel the open-ended credit line, to reduce it or to suspend it with immediate effect upon the occurrence of a valid reason or with a 15-day prior notice. In the event of a term credit line, the bank has the right to cancel it, reduce it or suspend it, with immediate effect, subject to a true and just cause. In both instances, the bank will give a 15-day prior notice of payment of outstanding amounts to the customer, by registered letter. 3. Similarly, the customer has the right to cancel the credit line by paying all amounts due. 4. In any event, the exercise of the termination option has the immediate effect of suspending any utilisation of the credit line. 5. Any overdraft order which the bank would implement subsequently to the agreed expiry or subsequently to the termination notice, does not imply the restoration of the credit line not even for the amount of the orders carried out. Any allowed overdrawn balance in excess of the credit line limit does not imply any increase of such overdraft limit. 6. The contents of this article, with the exception of art. 5, apply to all other credit facilities, of whatever type, which are granted by the bank to the customer.

Art. 5 - Termination, set-off and cheque payments

1. In the event of the bank's termination of a credit line, the customer is obliged to make available, without delay, the funds necessary to cover the payment of those cheques drawn before the receipt of the termination notification, whose presentation term has not elapsed. 2. In the event described in the previous paragraph, set-off relating to not liquid due payables as per art. 11, par. 2 of the contract's "General Terms and Conditions", is deemed to have been carried out with effect from the time when the customer receives the termination notice. 3. The contents of Art. 12 of the "Legal Terms and Conditions - Bank Current Account Section" apply also in the event of termination of the credit line.

Art. 6 - Credit line which may be utilised by presenting bills of exchange, cheques, receipts or any similar instruments

1. Whenever utilisation of the credit line is subject to the customer presenting cheques, money orders or other similar financial instruments, as well as bills of exchange, collection orders or similar documents for discount or subject to collection, the bank reserves the right to inspect and, if necessary, reject these financial instruments or documents which, in its opinion, could be irregular or not meeting the bank's requirements. The bank will promptly notify the customer of any refusal. 2. In the event that the bank cancels the credit lines as per the previous articles 3 and 4 and where the financial instruments and documents submitted are not yet expired or the bank has not yet been established whether they will be honoured, the bank has the right to demand full payment of the amounts due, including the amount of said financial instruments and documents. 3. If these financial instruments and documents are honoured subsequently to the bank's termination, the relating funds are made available to the customer or are offset against any amount due by the customer to the bank.

I/We declare to know and approve the parts of this document concerning: - the General Terms and Conditions governing the Bank-Customer Relationship; - the Legal Terms and Conditions - Bank Current Account Section; - the Legal Terms and Conditions - Collection or Acceptance of Bills of Exchange, Documents and Cheques Section; - Legal Terms and Conditions - Current Account Credit Line Section;

The above-mentioned documents are included in this booklet which inlcudes n 10 pages (excluding the enclosure), stapled together.

I/We hereby declare to have chosen, as forwarding procedure of the periodical reports, being aware that, failing any choice, the reports will be sent by post: - Paper report via post -Electronic report to the reported e-mail address of to the following fax number:

(date)

(Signature)

I/We specifically consent, in accordance with art. 1341, par. 2, Italian Civil Code, to the contents of the following clauses:

GENERAL TERMS AND CONDITIONS RULING THE BANK-CUSTOMER RELATIONSHIP

Art. 9, par. 2, 4, and 5 (termination, amendment and termination of the power of attorney) Art. 11 (right of pledge and retention, credit assignments and guarantees) Art. 12 (right of set-off and implementation of the right of set-off and of guarantee towards the joint account holders) Art. 14 (amendments of terms and conditions) Art. 16 (competent court) Art. 21 (forwarding procedure of the periodical reports)

Legal Terms and Conditions - BANK CURRENT ACCOUNT Section

Art. 2 (charging the account with cheques or drafts) Art. 8, par. 2 (not inserting of the "effective" clause) Art. 9, par. 1 and 2 (capitalization of interest) Art. 11, par 4 (consenting to the statement of the account) Art. 12, par. 2,3 and 4 (clearing and payment of cheques) Art. 13 (Exceeding the limits) Art 14 (termination)

Legal Terms and Conditions - COLLECTION OR ACCEPTANCE OF BILLS OF EXCHANGE, DOCUMENTS AND CHEQUES

Art. 2 (failed forwarding of non-acceptance and non-payment of the Bills of exchange and cheques)

Legal Terms and Conditions - CURRENT ACCOUNT CREDIT LINE section

Art. 3 (interest and "consideration on the granted credit line" (CA)) Art. 4 (termination) Art.5 (termination, set-off and cheques collection)

Date

Signature

I/We hereby declare that a copy of this document was delivered to me

Date

Signature

BANK SEPAH .Rome Branch

To

SPECIAL RULES FOR FOREIGN CURRENCY CURRENT ACCOUNTS (to complete and partially deviate from the "General rules concerning current account and related services")

Art.1 - It is agreed upon that each transfer and/or remittance ordered by third parties in our favour will be carried out by yourselves according to the

instructions received by the remitter. If the above transfers and/or remittances are in a currency (included Euro) other than the currency in which the current account is denominated and which must be credited in compliance with the instructions of transfer and/or remittance, you are authorized to carry out the requested arbitrage at the market exchange rate available at the moment of the execution in view of the crediting within a reasonable period of time. Failing specific remitter's instructions about the number of current account to be credited and if a current account denominated in the same currency of the transfer is held with you, you are authorised, starting from now, to credit said account. Failing the above-mentioned specific instructions and also an account denominated in the same currency of the transfer and/or remittance the crediting will be carried out in compliance with the provisions of the second paragraph.

Art.2 -Cheques will be usually expressed in the same currency of the account. However, if said instructions are given in a different currency, which, in

any case, shall be a foreign exchange account currency, you are authorised to proceed with the relative arbitrage at the market exchange rate available at the moment of execution to debit the amount within a reasonable period of time.

Art.3 - Cheque forms will bear the clause "da accreditare" (funds to be credited), which we undertake to show on each cheque, otherwise we will be responsible for any damage you may suffer. We also undertake to replace the words "Euro" in the cheque form with the foreign currency in which the cheque will be issued as well as to affix, next to the amount to be paid written in words, our underwriting to validate the amendments carried out.

Art.4 - Fixed-term current account will be regulated as follows:

The current account may be only credited by the initial credit amount and further deposits will be referred to as many other accounts to be opened. The first expiry is the end of the ongoing quarter as at the date of the deposit and may be tacitly renewed (capital and accrued interest) at the interest rate in force from time to time. Normally no withdrawal will be allowed other than at the expiry date save in exceptional cases which will however necessarily require the bank's prior authorization. If authorized, the withdrawal will however be subject to a penalty set in the contract . i.e. a reduction in the interest rate then established for the whole quarter The following withdrawals are to be considered due and therefore not subject to the penalty: - interest concerning the previous month; - capital withdrawn from the 29th day of the end-of-quarter month until the 5th day of the following month.

Art.5 - The crediting requested via foreign bank notes denominated in the same currency of the current account will be carried out on the basis of their different quotation against the currency or, alternatively, with value date 10 working days after the payment date. Similarly, the different quotation will be taken into account in case of debiting for the withdrawal of foreign bank notes.

Art.6 -The foreign currency current accounts currency will be liquidated with the same periodicity for interest both payable and receivable:

( ) quarterly calculating interests, fees, management and account closing fees, any other fees and charges, with value date being the end of the quarter ( ) monthly (last day of each month ),calculating interests, fees, management and account closing fees, and any other commission and charges, with value date being the end of the month. Interest will be debited or credited to the account in the same currency in which the account is denominated at the rates agreed upon. Taxes, as provided for by law, will be applied to the interest in our favour.

Art.7 - Any currency regulations that may come into force will be applied in any case.

(Signature)

In compliance with article 1341 of the Italian Civil Code, we specifically approve the provisions contained in the following articles :

3 - cheque form - "da accreditare " (funds to be credited) clause; 5 - different quotation for crediting/debiting foreign bank notes or recovery of the exchange rate margin via value date post/backdating.

(Signature).


To

With reference to the "Collection or acceptance of bills of exchange, documents and cheques section", which this document supplements and partially derogates, concerning the rules governing collection or acceptance of Italian or foreign bills of exchange, documents and cheques which is also valid for discounted or anyhow negotiated bills of exchange, documents and cheques we hereby declare to accept further following clauses:

-in case of collection of Italian bills of exchange and/or documents and/or cheques in euro or in a foreign currency other than the one in which the foreign account is denominated you shall carried out, on our behalf, the arbitrages which are necessary to credit the foreign currency account at the exchanges rates at the moment of the arbitrage;

-if the collection of Italian bills of exchange and/or documents and/or cheques is carried out with the operating support of a foreign currency account the relative acceptance or collection fees must be debited to said account and, if necessary, their counter-value calculated at the exchange rates to be then agreed upon;

-the operating activity in the foreign account concerning the acceptance, collection of bills of exchange, documents and/or cheques does not prevent the application of the related regulation.

If the support of the operating activity hinders in some way the carrying out of the obligations of collection and/or acceptance we undertake, starting from now, to authorize you to carry out said obligation on our euro account no....we hold with you or we are going to immediately open upon your request.

If currency regulations prevent the implementation of said operating activities in this kind of accounts we will comply with the instructions you will give us in that case.

(Signature)

BANK SEPAH COPY FOR THE BANK (pagg. n. 12)

Rome Branch

NOTICE TO FOREIGN CUSTOMERS

Dear Client,

Thank you for choosing our Bank.

It is important that trust and transparency regulate our Bank-Client relationship; therefore, we are pleased to provide you with an English translation of the key legal documents that you need to sign in order to open a current account with us and to make use of the banking services we offer.

Please note that documents containing the financial terms and conditions (such as interest rates, value dates, fees and charges, etc.) relating to banking products and services have not been translated as such information is specifically tailored to each individual client. This information is contained in the following documents which are available in Italian:

- Il Documento di Sintesi (The Summary) which can be found on the front page of The Bank Current Account

Agreement; - Le Condizioni Economiche (Financial Terms and Conditions) for each of the banking services: Conto Corrente

Bancario (Bank Current Account), Bancomat (ATM or Cash Dispenser), Affidamenti (Loans), etc..

Please note that, for all legal purposes, the Italian version of the agreement is the sole document which is valid and effective.

You are kindly requested to sign a copy of this letter.

Yours faithfully


To

Further to your request of today and as agreed by all parties concerned, we are pleased to inform you of the coming into effect of the services offered, in accordance with the specific sections of this contract. The services will be governed by the laws and contractual regulations applicable to each of them as detailed in the under mentioned sections, but also by the below detailed "General Terms and Conditions governing the Bank-Customer relationship" which may only be referred to the sections concerning the services offered by the Bank. In order to confirm your obligations as stated in this contract, you are kindly requested to return the attached copy to us duly signed by you three times at the foot thus confirming your agreement with all legal and financial terms and conditions of this document and specifically with some onerous clauses and acknowledging receipt of the specimen of this letter due to you.

GENERAL TERMS AND CONDITIONS GOVERNING THE BANK-CUSTOMER RELATIONSHIP

Art. 1 - Due diligence to be applied by the bank in its relationship with its customers 1. The bank applies to its relationship with its customers the due diligence pertaining to its professional status and the nature of its activity, in accordance with the provisions of art. 1176 of the Italian Civil Code. (1)

Art. 2 - Publicity and transparency of terms and conditions and Customers' Complaints Bureau

5. The bank, in its relationships with its customers, complies with the provisions of the Legislative Decree no. 335 of 1 September 1993 no. 335 as subsequently amended and supplemented (Banking and Financial Consolidation Act) and the related provisions of implementation. 6. If any complaint arises regarding the relationship with the bank, the customer may contact the bank's Complaints Bureau (Via Barberini n. 50

00187 ROMA) which replies within 30 days from receipt of the claim. For any further information regarding the claim forwarding and treatment procedures consult the Policy on customer claim treatment by Bank Sepah, Rome Branch, which is available at every branch of the bank and from the following web site address: : www.mps.it under the section "reclaim" (claims). 7. Depending on the kind of service supplied by the bank, if the customer is not satisfied with the treatment of a claim he/she may resort, provided certain conditions are met, to the following systems of extrajudicial dispute resolution: - the Banking Financial Arbiter (Arbitro bancario finanziario = ABF), a system of dispute resolution in accordance with art. 128-bis of the Legislative Decree no. 385/1993 (Banking Consolidation Act), following the procedures reported in the special "Practical guide to the ABF" which can be found from the following web site address: www.arbitrobancariofinanziario.it, at the branches of the bank or on the following web site address: www.mps.it under the section "reclami" (claims) (only for disputes regarding banking services); - the Banking Ombudsman, system of dispute resolution established with the Banking Financial Conciliator following the procedures reported in the special Regulation available on the following web site address: www.conciliatorebancario.it, at the branches of the bank and on the following web site address: www.mps.it under the section "reclami" (claims) (only for disputes regarding investment services); 8. the customer may also submit a claim to the Bank of Italy.

Art. 3 - Implementation of the instructions issued by the customers

5. The bank will carry out the instructions issued by its customer within the limits of and in accordance with the terms of each individual contract entered into with the customer; however, the bank may, with valid reason, refuse to act upon the instructions received immediately informing the customer of such refusal. 6. In the absence of specific instructions by the customer, the bank determines the procedure to implement the instructions with the due diligence appropriate to its professional status and in any case taking into account the customer's best interests and the nature of the instructions. 7. With reference to the commitments undertaken and in addition to the rights granted to it by art. 1856 of the Italian Civil Code (2), the bank is, nevertheless, authorized, in accordance with art. 1717 of the Italian Civil Code (3), to have itself replaced in the fulfilment of its duties by one of its, also non-banking correspondent. 8. The customer has the right to withdraw the mandate given to the bank, in accordance with art. 1373 of the Italian Civil Code (4), up to when the mandate has become effective, in line with the procedures of said implementation.

Art. 4 - Forwarding of correspondence to the Bank 3. Any notice, instruction and any other communication of the customer, addressed to the bank, shall be sent to the branch where the account is held. 4. The customer will ensure that any communication and written instruction, in addition to any other document addressed to the bank, including credit instruments, is clear and legible.

Art. 5 - Forwarding of correspondence to the customers

3. Any letter or statement of account, any notice, or any other statement or communication of the Bank, including those relating to these "General terms and conditions", will be sent to the customer, with full effect, to the latest address as notified in writing. 4. If not otherwise stated, when an account is opened in the names of several joint account holders, any communication, notification and statement of account shall be sent by the bank to only one of the account holders to his/her latest address, as notified in writing, and such communications will be fully effective in respect of all account holders.

Art. 6 - Identification of customers and of any other party entering into a relationship with the bank

3. Upon establishing each individual relationship, the customer will give his/her own proof of identification and those ones of the persons, if any, who will be authorized to represent him/her with the bank, as well as other necessary data and information, in compliance with current regulations, including those ones related to money laundering . 4. In order to safeguard its customer, the bank, while executing the customer's instructions, will assess whether the documents produced are suitable to prove the personal identity of the parties - such as cheque bearers, beneficiaries of payment orders, etc - entering in relationship with the bank.

Art. 7 - Tax obligation

5. The Customer undertakes to provide the Bank with all financial and personal data necessary to comply with tax regulations including the provisions ruling the international exchange of information with tax authorities of third countries. 6. If it is requested by the Bank, the Customer has also to provide any explanations, additional documents or statements which may prove the accuracy, the completeness and the truthfulness of the financial and personal data and information provided. Moreover, the Customer shall use the utmost diligence to autonomously report any changes in status and circumstances concerning the data and information provided to the Bank so that they can be timely updated. 7. To obtain such data and information from the Customer, the Bank may use any procedure prescribed by law from time to time, including the use of techniques of distance communication in electronic form and/or telematic (e-mail, fax, etc.) which the Customer declares to accept from now on. 8. The Bank is not responsible for the accuracy, completeness and truth fullness of the data and information received from the Customer or their failed updating due to the Customer. The latter is therefore responsible for the consequences that may result from the release of data and information false, incomplete, inaccurate or untimely, as well as the failure to update due to these and to this end, undertakes to indemnify the Bank and any third party having the right from any harm that may be suffered by the Bank and / or third parties, including as a result of imposition of sanctions.

Art. 8 - Deposit of authorized signatures

3. The signatures of the customer and of those parties authorized to operate with the Bank are deposited with the branch where the account is held. 4. In their relationships with the bank, the customer and the parties, mentioned in the previous paragraph, will use their signatures graphically corresponding to the deposited ones or - subject to prior agreement of all parties - to any other forms authorized by the laws in force (e.g.: e-signature).

Art. 9 - Power of attorney

6. The customer must state, in writing, the names of the persons authorized to act on his/her behalf with the bank, specifying the limitations, if any, of their powers. 7. Any revocation or amendment of the powers granted to the authorized persons as well as their waiver cannot be objected the Bank until it has received the relevant notice by registered letter, telegram, telex, fax, or such notice is delivered to the branch where the account is held and at least one day has passed from receipt of such notice; the same applies when the revocation, amendment and waiver has been publicly disclosed.

http://www.mps.it/

http://www.arbitrobancariofinanziario.it/

http://www.mps.it/


http://www.mps.it/

8. Unless otherwise specifically provided for, a subsequent authorization to utilise the account does not imply an implicit revocation of any previous authorization. 9. When the same account is held by joint account holders, the parties authorized to act for the joint account holders must be appointed in writing by all joint account holders. Departing from the terms of Art. 1726 of the Italian Civil Code (5), the power of attorney may be revoked by one single account holder, whereas any amendments of the power of attorney must be confirmed by all joint account holders. The provisions of the previous paragraph apply to both the form and the effect of revocations, amendments or waiver. The account holder giving the instruction to revoke must inform the other account holders accordingly. 10. The Bank is not liable for any other cause of termination of the power of attorney until it receives formal and legally binding notification; the same applies also when the account is held by more than one joint account holder.

Art. 10 - Joint account holders with the right to utilise the account severally

5. When the account is held by several joint account holders, each one being authorized to operate the account severally, any joint account holder may instruct the bank in respect of said account, thus fully releasing the bank from any obligation also towards the other account holders. The right to act on a several basis may be amended or revoked only by way of written communication to the bank by all the joint account holders. On the other hand, closure of the account may be requested by any one joint account holder, who must immediately inform accordingly all other account holders. 6. The joint account holders are jointly and severally liable to the bank for all obligations which may result for whatever reason, even by way of a deed or action of a single joint account holder, especially for those obligations arising from credit lines even if they are only granted to one account holder and are unknown to the other ones. 7. In case of death or of intervened legal incapacity of one of the joint account holders, each of the other holders retains its right to severally access the account. The same right is acquired by the heirs of the deceased account holder, who must however act jointly, and the legal representative of the incapacitated account holder. 8. In the cases mentioned in the previous paragraph, the bank must claim the concurrence of all account holders, and of their heirs and legal representatives of any incapacitated persons, if any of said party has communicated to the bank his/her objection, even if by registered letter only.

Art. 11 - Right to a guarantee

1. The bank has the right to take a pledge and to retain title over securities or other valuables pertaining to the customer, who is not qualified as a consumer in accordance with art. 3 of the Code of Consumption (Legislative Decree no. 206 of 6 September 2005). These securit ies and valuable are held by the bank or subsequently received by the bank, as security in respect of any amounts payable, notwithstanding the fact that such amounts are not liquid and due and are supported by a collateral or a personal security. Such amount may be a payable balance on current account and/o a result from banking transactions, such as: any type of credit facilities, letters of credit, documentary credits, advances on securities or goods, advances on credits, discounting or trading of securities or other financial instruments, granting of guarantees to third parties, guarantee deposits, Stock Exchange contangos, trading of securities and foreign currencies, brokerage or supply of services. The right to take a pledge and to retain titles are exercised on above-mentioned securities and valuables or on part of them for amounts duly related to the loans claimed by the Bank and anyhow not higher than twice said loans. In particular, any credit assignment and secured credit anyway granted in favour of the bank shall guarantee any other credits of the Bank towards the same customer irrespective of when it was established or whether the credit is due and payable.

Art. 12 - Set-Off 5. When the customer has more than one relationship or account of any type or nature, including deposits, with the bank, the bank has the right, with full effect, to apply legal set-off also when the various accounts are held with other domestic and foreign branches of the bank. 6. If any of the assumptions stated in art. 1186 of the Italian Civil Code (6) becomes applicable or any event occurs which negatively affects the financial or economic situation of the customer in such way that the bank's recovery of its credit is clearly jeopardized, the bank has the right of set-off, at any time, even if the amounts concerned, although in different currencies, are not yet due and payable. The bank may exercise the right of set-off without having any obligation to give any advance notice to the customer or follow any specific procedure, being however, understood that the bank will promptly notify the set-off to the customer in writing. The exercise of the set-off will release the bank from its obligation to cash any further cheque presented for payment (refer to the cheque agreement). 7. In the event of the account being held by joint account holders, the bank has the right to exercise the rights stated in the previous paragraph and in art. 10, up to the amount of the total resulting credit, also accessing any account and other relationships pertaining to only some of the account holders. 8. The right of set-off as per par. 2 cannot be exercised in respect of those accounts where the customer acts as consumer in accordance with art. 3 of the Code of Consumption unless otherwise later agreed with the customer himself.

Art. 13 - Joint and several liability of the obligations undertaken by the customers and allocation of payments 3. All obligations of the customer towards the bank, and in particular those obligations resulting from credit lines, are deemed to have been undertaken jointly and severally, including if the account is held by joint account holders, and also apply to any assignee of the customer. 4. If the customer has more than one account with the bank, the customer has the right, in accordance with art. 1193, par. 1° of the Italian Civil Code, to specify, upon payment, which debt he wants to settle. In the absence of such notification, and with the exception of the customer being a consumer, in derogation of Art. 1193, par. 2° of the Italian Civil Code (7), the bank may apply any amount received from the customer, or received by the bank from third parties on behalf of the customer, to repay or to reduce one or more obligations undertaken by the customer, subject to notification to the same.

Art. 14 - Determination of terms and conditions and their amendment 5. The financial conditions applicable to the accounts with the customer are detailed in the specific sections "Financial conditions" which are an integral part of this document. 6. If there are good reasons, the bank reserves the right to amend the financial and contractual conditions applied to this contract except for the interest rate in presence of a term contract, which will be notified to the customer via the "Proposal of unilateral amendment to the contract" upon notice of at least 2 months in writing or via another durable mean previously agreed upon and accepted by the customer , in compliance with the provisions of art. 118 of the Legislative Decree no 385/1993 (8). 7. The amendment is deemed to be approved if the Customer does not withdraw, without penalty, from the account within the date provided for its application. In case of withdrawal the customer has the right of application of the conditions previously applied 8. In any case, the Customer has always the right to withdraw from the contract without penalty and without closing costs.

Art. 15 - Taxation 1. Taxes, which the bank must pay in respect of its services granted to the customer, are to be charged to the customer.

Art. 16 - Applicable law and competent Court and extrajudicial dispute resolution

4. The contract is governed by Italian law. 5. For any dispute which may arise between the parties in connection with the contract, competent Court is the court provided for by Italian law (s. articles 1 and following articles of the Italian Code of civil procedure). If the Customer is qualified as a consumer the competent Court is determined in compliance with the provisions of the Code of Consumption. 6. As to the obligation, provided for by art. 5 of the Legislative Decree of March 4, 2010, no. 28 and following amendments, of starting arbitration proceedings before appealing to the judicial authorities, the contracting parties agreed (to implement the above-mentioned art. 5 par. 5) to submit the disputes, if any, which might arise during the life of this contract, to the following bodies, on the basis of their specific knowledge of banking or financial issues - the Banking Financial Arbiter, a system of dispute resolution in accordance with art. 128-bis of the Legislative Decree no.385/1993 (Banking Consolidation Act), following the procedures reported in the special "Practical guide to the ABF" which can be found on the following website: www.arbritobancariofinanziario.it, in the branches of the bank or on the following website: www.mps.it (the section can only be started by the customer and only for disputes regarding banking services); - Arbitration and Conciliation Centre with the Consob in accordance with Act no. 262/05 implemented by the Legislative Decree no. 179/2007 and, subsequently, by CONSOB Resolution no. 18275 of July 18, 2012 ruling the organization of the Centre and the procedures. The forwarding procedures of the application can be found on the website http://www.camera-consob.it/, in the branches of the bank, or on the following website: www.mps.it (the section can be started by both the bank and the customer for disputes regarding both banking and investment services); - Banking Conciliation Body which is made up of the Banking Financial Conciliation Association according to the procedures provided for by the "Conciliation procedure regulation". which can be found on the following website: www.conciliatorebancario.it, in the branches of the bank or on the following website: www.mps.it (the section can be started by both the bank and the customer for disputes regarding both banking and investment services).

The parties may still start arbitration proceedings, if any, also after having undersigned this contract, also with bodies other than the above-mentioned ones which are registered in the special Register of the Ministry of Justice, with specific knowledge of banking and financial issues and on which both parties agree.

Art. 17 Communications

3. Each communication concerning the contract must be in Italian. 4. The customer may forward communications to the Bank sending them to the branch with which he/she has his/her account or according to the procedures reported in the official website of the Bank.

Art. 18 - Access to the information and to the other conditions of the contract The Customer has the right to receive copy of this agreement as well as information and data concerning it and the Bank according to the terms and conditions provided for by the applicable law.

Art. 19 - Execution and starting date of a remotely underwritten contract

The Customer shall return/forward the underwritten documentation of the agreement to the Bank together with the necessary documents, also via electronic mail, if he/she has a digital signature, to enable the Bank to correctly implement the procedures of adequate/strengthened verification of the Customer in accordance with the Legislative Decree no. 231 of 27 November 2007 ("anti-money laundering"). This agreement is executed only after the Bank's receiving the whole documentation of the contract duly underwritten by the Customer and its implementation of the procedures regarding the adequate/strengthened verification in accordance with and for the purposes of the Legislative Decree no. 231 of 27 November 2007. In case of positive result of the above-mentioned procedures, the Bank shall inform the Customer, in the way notified by the Customer, of the starting moment of the account from which it enters into effect.

Art. 20 - Withdrawal in case of a remotely underwritten contract In case of remote commercialization of this contract in accordance with and for the purposes of art. 67-duocecies of the Code of Consumption, the Customer, who is qualified as a consumer, has 14 (fourteen) days to withdraw from the contract without penalty and without obligation to disclose the grounds subject to the provisions of the following article 67-terdecies. Said period starts from the date as per paragraph 3 of article 67-duodecies of the Code of Consumption. The legal force of the agreement concerning investment services is suspended, subject to the exceptions provided for by art. 67-duodecies, 5 paragraph of the Code of Consumption, during the period provided for exercising the right of withdrawal. The Customer must inform of the withdrawal via a registered letter with advice of receipt to be sent to Bank Sepah, Rome Branch. The request of the Customer, qualified as a consumer, of implementing instructions on the account is equivalent to a request of starting implementation in accordance with and for the purposes of art. 67-terdecies, 1 paragraph of the Code of Consumption.

Art. 21 - Forwarding procedures of the periodical reports

The periodical forwarding of reports to the Customers shall be carried out using following procedures: - Paper report via post - Electronic report to the reported e-mail address or to the fax number The information and communications provided for by law which are sent via paper statement imply the debiting of the respective charges whereas information sent via electronic means are free of charge. The expenses to forward information and communications which are not provided for by law are always to be charged to the customer. If other or more frequent communications than those provided for by the contract or their forwarding via communication instruments other than those provided for by the contract are requested by the customer the relative expenses are to be charged to the customer. The Bank states that the costs charged for the periodical forwarding of reports do not exceed the actual cost of their sending. The costs are reported in the financial terms and conditions related to each service.

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Art. 22 - Relationship between the current general terms and conditions and the legal terms and conditions ruling each section of the agreement In case of disagreement between the provisions of the section "General terms and condition Bank-customer" and the provisions of the following sections dealing with specific services the latter will prevail.

Art. 23 - Information on the bank

The information on the bank is reported on the title page of the contract The bank is subject to the supervision of the Bank of Italy

(9) Art. 1176, Italian Civil Code: "When complying with its obligations, the creditor must apply the same due diligence as that of a reasonable and prudent man. When complying with the obligations arising from the practice of a profession, such due diligence must be assessed with reference to the nature of the activity undertaken". (10) Art. 1856, Italian Civil Code: "The bank is liable, in accordance with the terms of the mandate, for the execution of the instructions received from the account holder or another customer. If the instructions are to be carried out in a location where the bank does not have a branch, then the bank may instruct accordingly another bank or a correspondent." (11) Art. 1717, Italian Civil Code: "The attorney who, when acting as per the mandate, substitutes another party without being authorized or without any requirement to do so, is liable for the actions of the person he/she substituted. If the principal had authorized the substitution without appointing a specific person, the attorney is liable only if he/she is to blame for his/her choice. The attorney is liable for the instructions he has imparted to the deputy. The principal can directly sue the person replaced by the attorney". (12) Art. 1373, Italian Civil Code: "If one of the parties has the right to withdraw from the contract, this right can only be exercised prior to the coming into effect of the contract. With regard to open-ended or term contracts, such right may also be exercised at a later stage, however any withdrawal will not affect those instructions which have been or are being carried out . If a cancellation fee was agreed, it will be payable once the instruction has been carried out, unless otherwise stipulated. (13) Art. 1726, Italian Civil Code: "If the mandate was given by more than one party with a single document in respect of an act/deal which would benefit all parties, the closure of the account is not effective unless it is confirmed by all joint account holders subject to an otherwise true and just cause". (14) Art. 1186, Italian Civil Code: "Notwithstanding the fact that the term [of the account] has been agreed to benefit the debtor, the creditor may demand immediate payment in the event of insolvency or intentional misrepresentation in respect of the value of a guarantee granted being reduced or refraining from issuing the guarantee promised". (15) Art. 1193, Italian Civil Code: "The party having more than one debt towards the same person can indicate, when making a payment, the specific debt he/she wants to settle. In the absence of such notification, the payment must be applied to the debit due; where more than one debit, to the debit with the lowest level of security; where debits with equal level of security to the most onerous debit; where more than one onerous debit, to the oldest debit If this criteria does not apply, the payment is applied pro rata to all the debits". (16) Art. 118, Legislative Decree, no. 385/1993: "In open-ended contracts the right to unilaterally amend rates, charges and other conditions provided for by the contract may be agreed upon with a clause specifically approved by the customer, if there are good grounds. In the other term contracts the right of unilateral amendment may be agreed upon only for clauses not concerning interest rates, if there are good grounds. Any amendment to the contract shall be expressly communicated to the customer according to procedures clearly showing the wording "Proposal of unilateral amendment to the contract" with a notice of at least 2 months in writing or via other durable mean previously agreed upon by the customer. In the bearer's accounts the communication is carried out according to the procedures set out by the Interdepartmental Committee for Credit and Savings. The amendment is deemed to be approved if the customer does not withdraw, without penalty, from the contract within date established for the coming into force. In this case, while settling the account the customer has the right of applying previous conditions. The amendments to the contract for which the provisions of this article were not complied with are null and void if they are unfavourable to the customer. The changes in interest rates in view of or resulting from monetary policy resolutions simultaneously concern both payable and receivable interest rates and are applied with procedures which are not detrimental to the customers."

Legal terms and conditions - BANK CURRENT ACCOUNT SECTION

Art. 1 - Cheque agreement

8. Transactions involving cheques drawn on the current account are carried out utilising the specific blank cheques forms issued by the bank. The customer is required to issue the statement as per art. 124 of the Act on Cheques (1). 9. The customer is required to take good care of the cheques and relating application forms. The customer will not be responsible for any damages resulting from the unauthorized or illegal use of the above-mentioned forms from the time when he notifies the bank in writing per registered letter, telegram or fax, their loss or theft; it is understood that the bank will continue to exercise due diligence, as per its professional status, in respect of the payment of any cheques also before such notification. The bank advises the account holder directly or also by way of displayed notices, pre-printed forms, etc. of the procedures to follow in order to protect himself/herself against the cheques being utilised illegally (stop payment, claiming etc.). 10. In the event of revocation of the cheque agreement and with the termination of the current account relationship, all unused blank cheques must be returned to the bank. 11. In accordance with regulations governed by "Legal Terms and Conditions - CashPoint/Bancomat/ Pagobancomat Section - Card Use", in the event of CashPoint/Bancomat/Pagobancomat withdrawals which would result in the funds in the account becoming insufficient to cover utilisations, the bank will refrain from paying any cheque received for payment, notwithstanding the fact that these may have been issued on a date prior to the date of withdrawal, and that the bank may have been notified of the withdrawal subsequently to receipt or presentation of the cheques, albeit prior to the account being debited. 12. When a customer holds more than one account, the bank is not obliged to pay any cheques drawn on accounts with insufficient balances, notwithstanding the fact that the other accounts may hold sufficient credit balances, unless the account holder and any other joint account holder of the account where funds are available, gives specific instructions to the bank, prior to the presentation of the specific cheque. 13. In compliance with art. 8-bis of the Act no. 386/90 and further amendments the customer fixes his/her domicile at the post address for each current account which is stated in the "Financial terms and conditions - Bank current account section". 14. In case of an online request for a cheque book via electronic media, the Bank shall charge the shipping costs in accordance with the list of the rates

negotiated by the Bank with the major market operators, as disclosed on the Bank's website (www.mps.it) and available at the Bank Branches.

Art. 2 - Debiting cheques and drafts to the account

1. The customer authorizes the bank to debit his/her account, with any cheques and drafts he/she has issued or drawn, even if these are endorsed by illegible, incomplete signature or which , in any case, are not in compliance with the requirements of Art. 11 of the Cheque Act (2) and art. 8 of the Bill of Exchange Act (3).

Art. 3 - Security measures concerning the payment of cheques into the account

1. In view of the fact that, for security purposes, banks cut the upper left corner of any type of cheques and promissory notes presented by customers and issued by the Bank of Italy, Banco di Napoli and Banco di Sicilia, the customer undertakes to verify the validity of the cheques received, taking note that the bank does not accept any of the above-mentioned cheques and promissory notes whose upper left corner has been cut.

Art. 4 - Payment of bank cheques and banker's drafts and of commercial credit collection (RiBa, RID and SDD) into the account

6. The amount on bank cheques and banker's drafts are credited to the account subject to verification and collection, and are available as soon as the terms stated in the "Financial terms and conditions - Bank Current Account Section" have elapsed. The bank may extend such terms solely in case of acts of God, -including staff strikes -which take place in the same bank and/or its correspondents (including non-banking correspondents). The bank will immediately inform the customers of such extension also by way of indirect communications (notices, pre-printed forms, etc.). 7. The value date of a crediting to the account has the sole purpose of determining the start date for the accrual of interest and does not convey the right to the customer to utilise the amount, as per previous par. 1. 8. However, should the bank authorize the customer to utilise, totally or partially said amount in advance, prior to the elapsing of terms as per previous par. 1 and even if interest is accruing on the amount in question, this will not constitute an authorization for future transactions of similar nature. Prior to the elapsing of such terms, the bank reserves the right to debit at any time the amounts of cheques received, as well as to exercise, in the event of non- collection, all rights and actions, including those as per art. 1829 of the Italian Civil Code (4), and to charge the account. 9. After the elapsing of the terms as per previous par. 1, it is understood that the drawee bank, when dealing with bank cheques, or the issuing bank, when dealing with banker's drafts, reserves the right, when applicable, to act directly against the customer in order to recover the amount of the unduly paid cheques. 10. RiBa RID and SDD orders, which are presented for collection by the customer, fall under the provisions contained in the previous paragraphs. It is understood that the paying bank reserves the right to act directly against the customer, as per par. 4, in respect of the orders presented for collection.

Art. 5 - Payment to the account of other instruments, bills of exchange, receipts and similar documents

5. Cheques other than those as per par. 4 (promissory notes and other similar instruments) as well as bills of exchange, receipts and similar documents are credited subject to verification - and to collection - and funds are not available until satisfactory verification of collection by the bank and until the crediting branch has been advised that collection has taken place. 6. The value date of a crediting to the account has the sole purpose of determining the start date for the accrual of interest and does not convey the right to the customer to utilise the amount. 7. However, should the bank authorize the customer to utilise the amount, totally or partially, prior to collection, and even if the accrual of interest has commenced, this will not constitute an authorization for future transactions of similar nature. 8. The bank reserves the right to debit the amount on credit instruments at any time, prior to satisfactory verification or collection even when the bank had granted the customer prior authorisation to utilise the same amount. In the event of non-collection, the bank reserves all rights and actions, including those as per art. 1829 of the Italian Civil Code, as well as the right, at any time, to debit the amount to the account.

Art. 6 - Payment into the account of foreign cheques

3. With reference to the fact that banks in the United States and other countries require a guarantee of repayment by the assignors of cheques and bills of exchange in the event that, subsequently to the payment having been made, an objection is raised in respect of the formal correctness or authenticity and completeness of any endorsement on said instruments, the transferor of said documents for said countries must make good said amounts, at any time and upon simple request of the bank, in the event that the bank receives a similar request from its correspondent or from the drawee. 4. Moreover, the transferor must accept, as legal enforcement and proof of the payment request, any document thus eligible in accordance with the specific foreign law even if it replaces a credit instrument.

Art. 7 - Movements of account

1. Unless otherwise specifically instructed and unless the transaction calls for an alternative requirement, all debit and credit transactions between the bank and the account holder, including credit transfers and remittances by third parties, in favour of the same customer, are to be duly evidenced on said account.

Art. 8 - Utilisation of the current account in foreign currency

3. Whenever foreign currency transactions are authorised by the bank, the customer may make payments to the account in any of the agreed currencies and, accordingly, the relating counter-value will be credited into the account, subject to conversion into euro, or in the agreed currency, at the then current exchange rate as made public by the bank at the date of implementation of the instruction. With similar procedures credit transfers and collections ordered by third parties are credited to the account as well as all transactions in foreign currency ordered by the customer via any mean including cheques. 4. The customer undertakes not to apply the "effective" clause as per art. 1279 of the Italian Civil Code to any foreign currency orders. In the event of non compliance to such obligation, if the order relates to cash payment by the bank, the latter may refrain from complying to such instruction. Therefore, if the beneficiary does not accept any alternative payment procedure, the bank will refuse to carry out the above transaction and the customer will be liable for any related consequence.

Art. 9 - Periodical closing of the account and payment of interest, fees and charges

5. The debit and credit entries (either payable or receivable) on the account are settled on a regular basis and the account will include, with the same value date, interest, fees and charges net of legal tax deductions. The balance resulting from this exercise will accrue interest in the same way.

6. The balance resulting after the actual closing of an account accrues interest as agreed; no capitalization is allowed in this instance. 7. Cheques paid by the bank are debited to the current account of the customer on the agreed value date. 8. Unless otherwise agreed, with the exception of the opening of credit or other credit facilities regulated by the "Legal terms and conditions - Current Account Credit Facilities Section", each party always reserves the right to claim payment for any outstanding.

Art. 10 - Dormant account

3. If the account has been inactive for more than one year and it evidences a credit balance below € 258.23, the bank will cease to pay interest, debit administration charges and send statements of account. 4. The orders given by third parties or the transactions carried out by the bank on its own initiative (such, for instance, crediting of interest accrued and recovery of expenses), or transactions carried out in compliance with legal or administrative provisions will not be considered movements to the account for the purpose of the previous paragraph although implemented during the year of reference.

Art. 11 - Approval of the statement of the account

5. The bank shall send the statements of account as at the pre-agreed closing dates for each accounting period within 30 days from said closing dates also in compliance with the obligations as per art. 1713 of the Italian Civil Code . 6. Subject to the provisions of paragraph 3 here below, and unless specifically contested in writing by the customer within a period of 60 days from the date of receipt, the statements are deemed to be approved by the customer once said period expires. 7. In the event of incorrect recording or computing, omission or duplication of entries, the customer can demand the correction of these mistakes or omissions as well as the crediting, with good value date, of the amounts which were incorrectly debited or omitted within the statutory period from the date of receipt of the statement of account; said correction or crediting will not incur any expenses for the customer. Within the same statutory period, and starting from the dispatch date of the statement, the bank can request the amounts due for the same reasons and for incorrect crediting. 8. Subject to the provisions as per previous paragraphs 2 and 3, any claim relating to the transactions carried out by the bank on behalf of the customer must be submitted by the latter as soon as he has received communication (by letter or by telegram) that said transaction has been executed, and such claim must be in the same form as the above communication (i.e. letter or telegram). After 30 days, the transaction is deemed approved (9).

Art. 12 - Set-off and payment of cheques

5. If the bank applies the legal set-off as per art. 12, par. 1 of the "General terms and conditions governing the bank-customer relationship" the bank is not obliged to pay the cheques which are drawn or presented on a date which is subsequent to the date of set-off on condition that as a result of said set-off, the funds on the account are insufficient. 6. If the bank applies the set-off in respect of funds which are not due and payable, as per art. 12, par. 2 of the General terms and conditions of the contract, the bank is not obliged to pay - within the limits of the shortfall in the account -those cheques which are drawn and presented on a date which is subsequent to the date of receipt by the customer of the notification of set-off. 7. In the above-mentioned cases, the customer is obliged to immediately pay the funds necessary to allow the payment of the cheques drawn on an earlier date than that of the set-off, where the term of submission of said cheques is not yet expired. The customer will pay said funds to the account or accounts where the set-off has been applied and for the amount of the resulting shortfall. 8. The provisions of this article also apply where accounts are in the name of joint account holders.

Art. 13 - Exceeding the limits

1.Exceeding the limits means that the Customer uses funds, if any, guaranted by the Bank, exceeding the current account balance in absence of credit opening. If the Customer is qualified ad a consumer, in case of remarkable excess (i.e. an amount equal to or higher than € 300,00) lasting longer than one month, the Bank informs the Customer in writing, or otherwise as agreed upon, of the excess, its amount, the applicable interest rate, the fines, the charges and the interest in arrears, if any.

Art. 14. Termination

8. Both the customer and the bank have the right at any time to terminate the current account contract and/or from the related cheque agreement subject to a 15-day prior written notice - by registered letter with advice of receipt or without any notice in case of good reasons or just cause - in addition to requesting the payment of all amounts due by each party. The termination of the contract results in the closure of the account. 9. If the bank terminates the current account contract, the bank is not obliged to execute the instructions received, nor to pay any cheque issued, on a date which is subsequent to the date when the termination of the account, duly notified as per the previous paragraph, has become effective. If the bank only terminates the cheque agreement, the bank is not obliged to pay any cheque drawn on a date subsequent to that hereby specified. Any other effect of the bank's termination on the authorization to issue cheques as per art. 9 of the Law dated Dec. 15, 1990, no. 386 as subsequently integrated and/or amended, remains valid. 10. If the customer terminates the current account contract, the bank, subject to the above paragraph, is not obliged to carry out the instructions received nor to pay any cheque drawn on a date prior to the effective date of the termination the latter having been duly notified as per paragraph 1. of this clause; if the termination only relates to the cheque agreement, the bank is not obliged to pay any cheque drawn on a date prior to the date hereby specified. 11. As an exception to the provisions of the first and third paragraphs of this clause, the customer, while exercising the right of termination of the contract, can notify the bank in writing, of his/her requirement for a longer period of notice than stated in the first -paragraph in order to regulate, according to his/her own requirements, the effect of the termination on existing instruction and cheques drawn; the customer may also indicate to the bank, which instructions and cheques he/she wishes to have honoured as long as these were issued prior to the effective date of the termination. 12. The bank will implement the instructions and pay the cheques as indicated in the previous paragraphs within the funds available on the account. 13. The termination of the cheque agreement by one of the joint account holders or by the bank vis-à-vis one of the joint account holders will not impact on the same agreement with the remaining joint account holders if the agreement allows for the joint account holders to carry out separate transactions. 14. The withdrawal from the current account contract and/or from the relative cheque agreement automatically implies the withdrawal from all other services provided for in the contract.

(11) Art. 124 of Royal Decree no. 1736 of 21 December 1933 1736 (and amendments of art. 37 of the Legislative Decree no.507 of 30 December 1999):

"Upon issuing of the cheque forms or post forms the applicant must state to the drawee that he/she is in no way disqualified to issue cheques. The applicant stating falsehood is punished with imprisonment from six-months to two-years". (12) art. 11 of the Royal Decree no. 1736 of 21 December 1933: "Each signature must show the name and surname or the company of the obligor. However the signature in which the name is abbreviated or only initialled is valid". (13) art. 8 of the Royal Decree no. 1669 of 14 December 1933: "Each bill signature must show the name and surname or the company of the obligor. However the signature in which the name is abbreviated or only initialled is valid". (14) Art. 1829 of the Italian Civil Code: "if not otherwise stated by the parties the entry to the account of a credit towards a third party is deemed implemented subject to collection. In this case, if the credit is not settled the receiver may either act for collection or cancel the entry from the account indemnifying the payer. The receiver may cancel the entry from the account after having unsuccessfully started legal claims against the debtor". (15) The disclosed exchange rate is the rate shown in the "pool of exchange rates" in compliance with the current provisions on transparency of banking transactions and services" (16) Art. 1279, Italian Civil Code: -"The contents of the previous article do not apply if the currency, which is not legal tender in the country, is qualified with the clause "effective" or similar wording, unless on the due date it is not possible to obtain this currency". (17) Art. 2 of the resolution of the Credit and Savings Interdepartemental Committee of 9 February 2000: "Interest rates are credited and debited in the current account on the basis of rates and according to the periodicity provided for by the contract. The periodical balance accrues interest according to the same procedure. Payable and receivable interest must be calculated, in each current account, on the basis of the same period. The balance resulting after definitely closing the account may bear interest if provided for by the contract. Periodical capitalization of interest is not allowed on this interest". Art. 6 of the resolution of the Credit and Savings Interdepartemental Committee of 9 February 2000: "The contracts concerning savings collection and credit exercising which are underwritten after the coming into force of this Resolution report the periodicity of the capitalization of interest and the applied interest rate. Whenever an intrannual capitalization is provided for the interest rate is reported on a yearly basis taking into account the effects of capitalization. The clauses concerning capitalization of interest are not effective if they are not specifically approved in writing". (18) Art. 1713 of the Italian Civil Code: "The attorney must account the principal for his/her actions and remit him everything he/she has received because of his/her mandate. The previous exemption from the obligation of account is void if the attorney must account out of fraud or grave offense." (19) This provision is based on art. 1712, Italian Civil Code according to which: "The attorney must immediately inform the principal that the powers under the mandate have been exercised. The delay by the principal in responding after having received this communication, such delay being a longer period than that required by the nature of the transaction or normal practice, implies approval, even if the attorney has not complied with the instructions or has exceeded the limits of the mandate". (20) Art. 9, Law no. 386/1990: "When, in the event of a partially or totally unpaid cheque, due to insufficient funds, such cheque is protested or an equivalent action is carried out, the drawee bank must revoke the authorization granted to the drawer to issue cheques and request the drawer to return the blank cheques. The revocation is communicated to the drawer by registered letter or telegram with acknowledgement of receipt and is effective as from actual receipt. The payment of cheques during the ten days following the date when the notification of said cheque revocation has been sent does not constitute a new authorization according to the par. 1 of art. 10, if there are sufficient funds in the account to cover said cheques. (omissis)×. A new authorization cannot be granted until a period of three months has elapsed from receipt of the notification of revocation. The period increases to six months if the unpaid amount, resulting from one or more cheques issued before receipt of the revocation notice, was for a total amount in excess of €10,329.14". This provision is amended by art. 34, Legislative Decree Dec. 30, 1999, no. 507: "1. In the event of partial or total non-payment of a cheque as a result of the absence of specific authorization or funds, the drawee writes the name of the drawer in the register as per art-10-bis 2. The registration is carried out: a) in the event of non-authorization, within the twentieth day from the date when the cheque is presented for payment; b) in the event of insufficient funds when the period stated in art. 8 is elapsed without the customer producing proof of payment, subject to art. 9-bis, par. 3.3. Such registration constitutes the revocation of any authorization to issue cheques. A new authorization cannot be granted until a six-month period has elapsed from the inscription of the name in the register. 4. The revocation constitutes a six months ban for any bank and post office to enter into any cheque agreement with the drawer and to pay cheques drawn by the later after the inscription in the register even if the account has sufficient funds to cover said cheques". The enforcement of this regulation is governed by art. 105 of the above-mentioned Legislative Decree No. 507/1999.

Legal Terms and Conditions - COLLECTION OR ACCEPTANCE OF BILLS OF EXCHANGE, DOCUMENTS AND CHEQUES SECTION

Art. 1 - Scope and limits of the service

5. The collection and acceptance of bills of exchange, documents and cheques are carried out, on behalf of the customer, on the basis of the regulations hereunder; in respect of collection and acceptances abroad, the Regulations of the International Chamber of Commerce in force as to documentary collections, also apply. 6. The bank is obliged to carry out its activity in accordance with the professional diligence criteria as per art. 1 of the "General terms and conditions concerning the bank-customer relationship"; however, the client is liable for any adverse consequence resulting from actions not pertaining to the bank, including, for example, consequences resulting from: - Incorrect, not precise or insufficient information relating especially to the amount, expiry date, place of payment, name, both on bills of exchange, documents, cheques and remittance slips; - acts of God, impediments and obstacles resulting from current regulations in the place where bills, documents and cheques are to be presented for payment, drawn in the local currency or in foreign currency; or actions by local or foreign authorities, also de facto, or judicial measures or acts (such as seizures, attachments) or third parties' acts. 7. If the customer requests the bank to carry out services in respect of bills of exchange, documents or cheques to be presented in locations which are not recognised by the issuing bank and, generally, in locations where it is difficult to carry out the duties relating to this service, the bank is not liable for these bills and documents not being presented for payment, nor for acceptance or protest not being carried out within the prescribed time. The clause "collection through" and any other similar clause not implying domiciliation, are not binding for the bank which, in any event, is not liable for the protest not occurring in respect of bills of exchange the payment of which is requested through a bank counter located in a place other than the one elected for payment. 8. The bank is entitled to recover from the customer all charges relating to or resulting from the service rendered if the bank has made the payment, including those charges incurred in respect of stamp duty on bills and those relating to financial penalties.

Art. 2 - Notification of non-acceptance and of non-payment of bills

1. The bank is authorized not to send notifications of non-acceptance or of non payment of bills of exchange and cheques and limits itself to return the financial instruments as soon as they are in its possession.

Art. 3 - Bills of exchange with the wording "without charges" or other equivalent

3. In respect of bills of exchange, the bank does not materially present the bills but it sends the drawee a notice inviting him/her to go to the branch for acceptance or payment; this procedure is applied also to bills of exchange marked with the wording "without charges", "without protest" or equivalent, either signed or unsigned. 4. The bank is entitled not to lodge protest where the bills of exchange are marked with the wording "without charges", "without protest" or equivalent which is not signed in accordance with legal requirements.

Art. 4 - Instructions for the extension of the term of bills of exchange

1. In the event of instructions for the extension of the term of bills of exchange, and in the absence of specific written instructions, the bank sends to the bill debtor, a simple notice of the new term granted; this procedure is applied also in the event of bills of exchange with several endorsements or drawn drafts. If the bill of exchange, whose term has been extended, is not paid on the new expiry date, the bank will not, in accordance with the ban as per art. 9 of Act no. 349/1973, serve protest.

Art. 5 - Payment by cheques

1. In case of bills payable by way of bank cheques, the bank in charge of the collection reserves the right to send these cheques to the transferor, as a revenue, without taking on any guarantee irrespective of the fact that it may have endorsed them.

Art. 6 - Discounting or negotiation of bills of exchange, documents and cheques

3. Presentation for acceptance and/or payment of bills of exchange, documents and discounted or negotiated cheques or on which an advance of any kind has been made, is carried out by the bank, -directly or through either a bank or a non-bank correspondent - by applying all regulations stated in the articles of this Section, excluding those as per art. 4. 4. Subject to the regulations relating to crediting to the account cheques, bills of exchange and other instruments, as per articles 4 and 5 of the "Legal Terms and Conditions - Bank Current Account Section", the customer must refund the bank within 3 days from request, if - as a result of an event for which the bank is not liable in accordance with the previous articles - the instruments were not presented and/or protested in accordance with legal requirements; if the bills of exchange, documents or cheques were either lost or destroyed or stolen and the bank is unable to determine their exact circumstances or if , in the event of effected collection, is unable to access the funds.

Legal terms and conditions - CURRENT ACCOUNT CREDIT LINE SECTION

(The clause cannot be applied to credit openings ruled by Title VI, Chapter II, of the Consolidation Banking Act)

Art. 1 - Opening of Credit lines

1. Credit lines that the bank would grant to the current account holder, are subject to the following conditions: -the customer may draw the amount available on the current account in one or more utilisations and may restore the amount available with subsequent payments; -where the credit line is available for an agreed term, the customer is obliged to repay all outstanding amount at maturity, without any prompting by the bank.

Art. 2 - Accrual of interest

1. Interest due by the customer to the bank is calculated at the agreed terms, subject to the regulations contained in art. 9 of the "Legal Terms and Conditions-Bank Current Account Section".

Art. 3 - Interest and "consideration on the granted credit line" (CA)

3. A "consideration on the granted credit line" (hereunder CA) is applied to the opening of credit lines on a current account; the consideration is all inclusive and shall be calculated according to the amount and the actual life of the credit line. Therefore, in case of advanced termination of the account the CA is only calculated for the granting period of the credit line and according to its amount. The all inclusive CA - which is however not calculated on any excess which could be authorized - is specifically periodically reported with the specification of the actual utilization during the reference period. 4. Interest is calculated applying two rates which are previously provided for by the agreement: - An interest rate on overdraft line of credit if the credit line is utilized within the granted amount; - An interest rate for any "amount exceeding the credit line" (the so-called "extra-credit line") which must be authorized anyway. This rate shall be only applied to the amount in excess for the days of the period exceeding the credit line. This "amount exceeding the credit line" shall be otherwise authorized by the Bank.

Art. 4 - Termination

7. The bank has the right, at any time, to cancel the credit lines, including those with an agreed term, and to reduce or suspend them also through verbal notification; the bank will give at least 2-day notice of payment of outstanding by registered letter. 8. If the customer is a consumer in accordance with art. 3 of the Code of Consumption (Legislative Decree no. 206 of 6 September 2005) the bank has the right to cancel the open-ended credit line, to reduce it or to suspend it with immediate effect upon the occurrence of a valid reason or with a 15-day prior notice. In the event of a term credit line, the bank has the right to cancel it, reduce it or suspend it, with immediate effect, subject to a true and just cause. In both instances, the bank will give a 15-day prior notice of payment of outstanding amounts to the customer, by registered letter. 9. Similarly, the customer has the right to cancel the credit line by paying all amounts due. 10. In any event, the exercise of the termination option has the immediate effect of suspending any utilisation of the credit line. 11. Any overdraft order which the bank would implement subsequently to the agreed expiry or subsequently to the termination notice, does not imply the restoration of the credit line not even for the amount of the orders carried out. Any allowed overdrawn balance in excess of the credit line limit does not imply any increase of such overdraft limit. 12. The contents of this article, with the exception of art. 5, apply to all other credit facilities, of whatever type, which are granted by the bank to the customer.

Art. 5 - Termination, set-off and cheque payments

4. In the event of the bank's termination of a credit line, the customer is obliged to make available, without delay, the funds necessary to cover the payment of those cheques drawn before the receipt of the termination notification, whose presentation term has not elapsed. 5. In the event described in the previous paragraph, set-off relating to not liquid due payables as per art. 11, par. 2 of the contract's "General Terms and Conditions", is deemed to have been carried out with effect from the time when the customer receives the termination notice. 6. The contents of Art. 12 of the "Legal Terms and Conditions - Bank Current Account Section" apply also in the event of termination of the credit line.

Art. 6 - Credit line which may be utilised by presenting bills of exchange, cheques, receipts or any similar instruments

4. Whenever utilisation of the credit line is subject to the customer presenting cheques, money orders or other similar financial instruments, as well as bills of exchange, collection orders or similar documents for discount or subject to collection, the bank reserves the right to inspect and, if necessary, reject these financial instruments or documents which, in its opinion, could be irregular or not meeting the bank's requirements. The bank will promptly notify the customer of any refusal. 5. In the event that the bank cancels the credit lines as per the previous articles 3 and 4 and where the financial instruments and documents submitted are not yet expired or the bank has not yet been established whether they will be honoured, the bank has the right to demand full payment of the amounts due, including the amount of said financial instruments and documents. 6. If these financial instruments and documents are honoured subsequently to the bank's termination, the relating funds are made available to the customer or are offset against any amount due by the customer to the bank.

I/We declare to know and approve the parts of this document concerning: - the General Terms and Conditions governing the Bank-Customer Relationship; - the Legal Terms and Conditions - Bank Current Account Section; - the Legal Terms and Conditions - Collection or Acceptance of Bills of Exchange, Documents and Cheques Section; - Legal Terms and Conditions - Current Account Credit Line Section;

The above-mentioned documents are included in this booklet which inlcudes n 10 pages (excluding the enclosure), stapled together.

I/We hereby declare to have chosen, as forwarding procedure of the periodical reports, being aware that, failing any choice, the reports will be sent by post: - Paper report via post -Electronic report to the reported e-mail address of to the following fax number:

(date)

(Signature)

I/We specifically consent, in accordance with art. 1341, par. 2, Italian Civil Code, to the contents of the following clauses:

GENERAL TERMS AND CONDITIONS RULING THE BANK-CUSTOMER RELATIONSHIP

Art. 9, par. 2, 4, and 5 (termination, amendment and termination of the power of attorney) Art. 11 (right of pledge and retention, credit assignments and guarantees) Art. 12 (right of set-off and implementation of the right of set-off and of guarantee towards the joint account holders) Art. 14 (amendments of terms and conditions) Art. 16 (competent court) Art. 21 (forwarding procedure of the periodical reports)

Legal Terms and Conditions - BANK CURRENT ACCOUNT Section

Art. 2 (charging the account with cheques or drafts) Art. 8, par. 2 (not inserting of the "effective" clause) Art. 9, par. 1 and 2 (capitalization of interest) Art. 11, par 4 (consenting to the statement of the account) Art. 12, par. 2,3 and 4 (clearing and payment of cheques) Art. 13 (Exceeding the limits) Art 14 (termination)

Legal Terms and Conditions - COLLECTION OR ACCEPTANCE OF BILLS OF EXCHANGE, DOCUMENTS AND CHEQUES

Art. 2 (failed forwarding of non-acceptance and non-payment of the Bills of exchange and cheques)

Legal Terms and Conditions - CURRENT ACCOUNT CREDIT LINE section

Art. 3 (interest and "consideration on the granted credit line" (CA)) Art. 4 (termination) Art.5 (termination, set-off and cheques collection)

Date

Signature

I/We hereby declare that a copy of this document was delivered to me

Date

Signature

BANK SEPAH .Rome Branch

To

SPECIAL RULES FOR FOREIGN CURRENCY CURRENT ACCOUNTS (to complete and partially deviate from the "General rules concerning current account and related services")

Art.1 - It is agreed upon that each transfer and/or remittance ordered by third parties in our favour will be carried out by yourselves according to the

instructions received by the remitter. If the above transfers and/or remittances are in a currency (included Euro) other than the currency in which the current account is denominated and which must be credited in compliance with the instructions of transfer and/or remittance, you are authorized to carry out the requested arbitrage at the market exchange rate available at the moment of the execution in view of the crediting within a reasonable period of time. Failing specific remitter's instructions about the number of current account to be credited and if a current account denominated in the same currency of the transfer is held with you, you are authorised, starting from now, to credit said account. Failing the above-mentioned specific instructions and also an account denominated in the same currency of the transfer and/or remittance the crediting will be carried out in compliance with the provisions of the second paragraph.

Art.2 -Cheques will be usually expressed in the same currency of the account. However, if said instructions are given in a different currency, which, in

any case, shall be a foreign exchange account currency, you are authorised to proceed with the relative arbitrage at the market exchange rate available at the moment of execution to debit the amount within a reasonable period of time.

Art.3 - Cheque forms will bear the clause "da accreditare" (funds to be credited), which we undertake to show on each cheque, otherwise we will be responsible for any damage you may suffer. We also undertake to replace the words "Euro" in the cheque form with the foreign currency in which the cheque will be issued as well as to affix, next to the amount to be paid written in words, our underwriting to validate the amendments carried out.

Art.4 - Fixed-term current account will be regulated as follows:

The current account may be only credited by the initial credit amount and further deposits will be referred to as many other accounts to be opened. The first expiry is the end of the ongoing quarter as at the date of the deposit and may be tacitly renewed (capital and accrued interest) at the interest rate in force from time to time. Normally no withdrawal will be allowed other than at the expiry date save in exceptional cases which will however necessarily require the bank's prior authorization. If authorized, the withdrawal will however be subject to a penalty set in the contract . i.e. a reduction in the interest rate then established for the whole quarter The following withdrawals are to be considered due and therefore not subject to the penalty: - interest concerning the previous month; - capital withdrawn from the 29th day of the end-of-quarter month until the 5th day of the following month.

Art.5 - The crediting requested via foreign bank notes denominated in the same currency of the current account will be carried out on the basis of their different quotation against the currency or, alternatively, with value date 10 working days after the payment date. Similarly, the different quotation will be taken into account in case of debiting for the withdrawal of foreign bank notes.

Art.6 -The foreign currency current accounts currency will be liquidated with the same periodicity for interest both payable and receivable:

( ) quarterly calculating interests, fees, management and account closing fees, any other fees and charges, with value date being the end of the quarter ( ) monthly (last day of each month ),calculating interests, fees, management and account closing fees, and any other commission and charges, with value date being the end of the month. Interest will be debited or credited to the account in the same currency in which the account is denominated at the rates agreed upon. Taxes, as provided for by law, will be applied to the interest in our favour.

Art.7 - Any currency regulations that may come into force will be applied in any case.

(Signature)

In compliance with article 1341 of the Italian Civil Code, we specifically approve the provisions contained in the following articles :

3 - cheque form - "da accreditare " (funds to be credited) clause; 5 - different quotation for crediting/debiting foreign bank notes or recovery of the exchange rate margin via value date post/backdating.

(Signature).


To

With reference to the "Collection or acceptance of bills of exchange, documents and cheques section", which this document supplements and partially derogates, concerning the rules governing collection or acceptance of Italian or foreign bills of exchange, documents and cheques which is also valid for discounted or anyhow negotiated bills of exchange, documents and cheques we hereby declare to accept further following clauses:

-in case of collection of Italian bills of exchange and/or documents and/or cheques in euro or in a foreign currency other than the one in which the foreign account is denominated you shall carried out, on our behalf, the arbitrages which are necessary to credit the foreign currency account at the exchanges rates at the moment of the arbitrage;

-if the collection of Italian bills of exchange and/or documents and/or cheques is carried out with the operating support of a foreign currency account the relative acceptance or collection fees must be debited to said account and, if necessary, their counter-value calculated at the exchange rates to be then agreed upon;

-the operating activity in the foreign account concerning the acceptance, collection of bills of exchange, documents and/or cheques does not prevent the application of the related regulation.

If the support of the operating activity hinders in some way the carrying out of the obligations of collection and/or acceptance we undertake, starting from now, to authorize you to carry out said obligation on our euro account no....we hold with you or we are going to immediately open upon your request.

If currency regulations prevent the implementation of said operating activities in this kind of accounts we will comply with the instructions you will give us in that case.

(Signature)

Modulo n. 2

AUTOCERTIFICAZIONE NON RESIDENZA VALUTARIA/FISCALE

Spett.le/Messrs.

Bank Sepah – Rome Branch

AUTOCERTIFICAZIONE Ai sensi del D.Lgs.n.259 del 21/07/1999

SELF-CERTIFICATION

in accordance with L.D. n.259 of 21/07/99

Io sottoscritto/a.........................................................................................................................................

I the undersigned

città e stato di nascita...............................................................................................................................

city and country of birth

data di nascita................................. cittadino ........................................................................................

date of birth citizien

residente a (indirizzo completo) .............................................................................................................

residence (full address)

domiciliato a (indirizzo completo) ..........................................................................................................

domicile (full address)

documento/document...............................................................................................................................

□ Intestatario/a del conto estero n............................................................................................

Holder of the “estero”account n.

□ Legale rappresentante della ditta..........................................................................................

Legal representative of the firm

intestataria del conto corrente n............................................................................................

holder of the current account n.

DICHIARO/DECLARE

sotto la mia piena responsabilità/on my own full responsibility:

□ di non avere residenza valutaria e fiscale in Italia

to have not fiscal residence in Italy

□ che la ditta rappresentata non ha residenza valutaria e fiscale in Italia.

that the represented firm has not fiscal residence in Italy

Mi impegno a comunicarVi tempestivamente eventuali variazioni di residenza fiscale e valutaria.

I engage myself to inform you immediately in case of change of fiscal residence.

Data/date .............................

In fede/in witness whereof

Riservato a Bank Sepah/For bank use only:

(data ricezione, timbro e visto)

Modulo 3

Dichiarazione sostitutiva versamento denaro su conto estero

BANK SEPAH Filiale di Roma

OGGETTO: Dichiarazione sostitutiva ai sensi del D.Lgs 21/11/2007 n. 231 “Normativa Antiriciclaggio” e del Decreto del Ministero delle Finanze 08/08/1990, concernente la documentazione relativa ai trasferimenti all’estero da parte di NON RESIDENTI di denaro, titoli o valori. Il sottoscritto………………………………………………nato a ……………………………il………………………….. domiciliato in Italia: Presso ……………………Città………...……………………….via…………………………………..…………..n.… Stato estero di residenza: …………………………………………………. In merito all’operazione di versamento da VV.SS eseguita per mio/nostro conto in data odierna

Consapevole delle responsabilità penali per false e/o mendaci dichiarazioni

DICHIARA/IAMO

di aver importato da………………la somma di ………………………………senza richiedere la

prevista attestazione doganale;

di aver acquisito in Italia la somma di………………………………………..per…….……………e di non essere in grado di produrre la documentazione giustificativa per i seguenti motivi:………………………………………………………………………………………………………………………………

DICHIARA/IAMO

che le somme versate sono derivanti da: _______________________________________ Distinti Saluti Roma, ……..…………… …………………….. (firma)

WFATCAGAutocertificazione ai sensi della

Foreign Account Tax Compliance Act (“FATCA”) e della Common Reporting Standard OCSE (L.95/2015)

Ed. 12/2015 SIBT

Tipologia cliente

SOGGETTI DIVERSI DA PERSONE FISICHE E DITTE INDIVIDUALI (ENTITA’)

A. Dati anagrafici del Titolare del rapporto

Denominazione/Ragione sociale

della Entità

Codice fiscale/P.I.

Luogo di costituzione della Entità

Sede amministrativa della Entità o,

se diverso, Luogo di Direzione

effettiva

Si intendono richiamati integralmente i dati acquisiti ai fini della due diligence antiriciclaggio tramite l'apposito

Questionario, allegato al presente Modulo.

B. Dichiarazione di residenza fiscale - compilare anche il Quadro D ed il Quadro E

Il Titolare dichiara che la Entità:

è fiscalmente residente nel/nei seguenti Paesi, diversi dagli Stati Uniti

1^ residenza codice/numero identificativofiscale



Se il campo “codice/numero identificativo fiscale” non viene compilato, il sottoscrittore dichiara che il Paese di residenza

non rilascia codice/numero identificativo fiscale.

è fiscalmente residente negli Stati Uniti in qualità di: :

Specified U.S. Person

U.S. Person diversa da una Specified U.S. Person, con codice di esenzione1 n.

e fornisce il codice fiscale statunitense:

è fiscalmente trasparente2.

Il sottoscritto si impegna a notificare l’eventuale modifica delle informazioni ed attestazioni sopra riportate entro

il termine di 30 giorni.

1 Cfr. Istruzioni di compilazione al Modulo.2 Cfr. Istruzioni di compilazione al Modulo.

Pag. 1 di 9

C. Dichiarazione relativa agli indizi di residenza fiscale

In caso di presenza di indizi di residenza fiscale in Paesi esteri, il Titolare dichiara che l’Entità:

ha (i) un indirizzo di corrispondenza, e/o (ii) una sede, e/o (iii) un numero telefonico, ma non è fiscalmente

residente nel Paese per il quale è stato rilevato l’indizio;

opera tramite un delegato/procuratore con indirizzo estero e/o ha disposto un ordine di bonifico permanente su

conti esteri ma non è fiscalmente residente nel Paese per il quale è stato rilevato l’indizio;

è stata costituita in un Paese estero ma non è fiscalmente residente nel Paese per il quale è stato rilevato

l’indizio.

D. Classificazione ai fini dello scambio automatico delle informazioni fiscali con gli Stati Uniti (“FATCA”)

Barrare la classificazione corrispondente3.

1. REPORTING ITALIAN FINANCIAL INSTITUTION GIIN

2. REPORTING FOREIGN FINANCIAL INSTITUTION (Model 2 IGA) GIIN

3. NON-REPORTING ITALIAN FINANCIAL INSTITUTION

3.1 Certified Deemed-Compliant Italian Financial Institutions

Italian Local Financial Institution

Certain Italian Collective Investment Vehicles

Onlus registrate (Art. 11, D.Lgs. n. 460/1997)

Italian Special Purpose Vehicles (veicoli di cartolarizzazione)

Italian non registering local bank

Governo italiano, enti governativi italiani, o enti strumentali interamenteposseduti

Organizzazioni internazionali

Banca d'Italia

Poste Italiane escluso Banco Posta

Cassa Depositi e Prestiti

Specifiche categorie di fondi pensione

3.2. Registered Deemed compliant Italian Financial Institutions GIIN

Non reporting Italian members of financial group

Qualified Italian collective investment vehicles

Italian restricted funds

Qualified Italian credit card issuers

4. REGISTERED DEEMED COMPLIANT FOREIGN FINANCIALINSTITUTION

GIIN

Reporting Foreign Financial Institution (Model 1 IGA, diverso dall'Italia)

Foreign Local FFI

Foreign Non reporting members of participating FFI groups

Foreign Qualified Collective Investment Vehicles

3 Cfr. Istruzioni di compilazione al Modulo.

Pag. 2 di 9

Foreign Restricted Funds

Foreign Qualifed Credit Card Issuers

Foreign Sponsored investment entities and controlled foreign corporations

5. CERTIFIED DEEMED COMPLIANT FOREIGN FINANCIALINSTITUTION

Non-registering local bank

FFI with only low-value accounts

Sponsored closely held investment vehicles

Limited life debt investment entities (fino al 31 dicembre 2016)

6. PARTICIPATING FINANCIAL INSTITUTION (PFFI) GIIN

7. NON-PARTICIPATING FOREIGN FINANCIAL INSTITUTION (NPFFI)

8. NPFFI CHE OPERANO SOLO CON EXEMPT BENEFICIAL OWNER

9. BENEFICIARI ESTERI ESENTI

10. LIMITED FFI/LIMITED BRANCH

11. SPONSORED FFI THAT HAS NOT OBTAINED A GIIN

Sponsoring entity ________________________

12. TERRITORY FINANCIAL INSTITUTIONS GIIN

D.2 Istituzioni non finanziarie

1. ACTIVE NFFE

Active Trade or Business

Società quotata o appartenente a Gruppo quotato

Soggetti esenti, diversi dalle FFIs (governi esteri, banche centrali, ecc.)

Holding di gruppo NFFE

Non-financial start up company

NFFE in liquidazione

Società finanziaria captive di un gruppo NFFE

Ente non-profit che rispetta i requisiti IGA

2. DIRECT REPORTING NFFE

GIIN

3. SPONSORED DIRECT REPORTING NFFE

GIIN

Sponsoring entity

4. PASSIVE NFFE

Residenza fiscale dei titolari effettivi con residenza fiscale statunitense:

Nome/Cognome Codice fiscale statunitense

Nome/Cognome Codice fiscale statunitense

Pag. 3 di 9

Classificazione ai fini dello scambio automatico delle informazioni fiscali ai sensi della normativa “CRS”

Barrare la classificazione corrispondente4.

E.1 Istituzioni finanziarie

1. ISTITUZIONI FINANZIARIE diverse dalle INVESTMENT ENTITIES

2. INVESTMENT ENTITY di un Paese non aderente al CRS

Residenza fiscale dei titolari effettivi:

Nome/Cognome Paese di residenza fiscale Codice fiscale/NIF


3. INVESTMENT ENTITY di un Paese aderente al CRS

E.2 Istituzioni non finanziarie

1. ACTIVE NFFE – Società quotata o appartenente ad un Gruppo quotato

2. ACTIVE NFFE – Soggetti esenti (Governi esteri, banche centrali, …)

3. ALTRE ACTIVE NFFE

4. PASSIVE NFFE

Residenza fiscale dei titolari effettivi:



Luogo e data Firma leggibile del Rappresentante Legale / Delegato

Firma dell'Addetto della Banca

4 Cfr. Istruzioni di compilazione al Modulo.

Pag. 4 di 9

Tipologia cliente

SOGGETTI DIVERSI DA PERSONE FISICHE E DITTE INDIVIDUALI (ENTITA’)

ISTRUZIONI PER LA COMPILAZIONE DEL MODULO

Quadro A

Per sede amministrativa si intende la sede principale della Entità; potrebbe non essere coincidente con la sede legale.Per sede di direzione effettiva ("place of effective management") si intende il luogo in cui sono effettivamente prese ledecisioni aziendali strategiche; potrebbe non essere coincidente con la sede legale o con la sede amministrativa.

Quadro B

Per entità fiscalmente trasparenti si intendono soggetti diversi da persone fisiche che, ai fini delle imposte sui redditi edei requisiti di applicazione dei benefici fiscali previsti dalle Convenzioni contro le doppie imposizioni sui redditi,attribuiscono il reddito per trasparenza ai beneficiari (indipendentemente dalla effettiva distribuzione); generalmente sonosocietà di persone.

Sono definite Specified U.S. Person tutte le Entità residenti fiscalmente negli USA ad eccezione di specifiche categorie(cfr. Tabella codici esenzione), che sono qualificate come U.S. Person diverse da Specified U.S. Person.In via esemplificativa e non esaustiva, si considerano residenti fiscalmente negli USA:

✔ i cittadini statunitensi✔ i soggetti residenti negli USA, intendendosi come tali le seguenti casistiche:

• Persone fisiche in possesso di un permesso di soggiorno permanente (c.d. «green card»).

• Le persone fisiche che soggiornano negli Stati Uniti per un periodo non inferiore a quello richiesto dal«Substantial presence test», e cioè che siano fisicamente presenti negli USA:

almeno 31 giorni nell’anno corrente, e

almeno 183 giorni nel corso dell’anno in esame e dei 2 anni precedenti considerando:

➔ tutti i giorni di presenza nell’anno corrente

➔ 1/3 dei giorni di permanenza dell’anno precedente

➔ 1/6 dei giorni di permanenza del secondo anno precedente.

Non si applica alle persone fisiche temporaneamente presenti negli USA a seguito di incarichi di governi esteri,agli insegnanti in possesso di una visa del tipo «J» o «Q», agli studenti in possesso di una visa del tipo «J», «Q»,«F» o «M».

Elenco dei codici esenzione

A. Ente esente da imposta (sez. 501 (a) del codice tributario statunitense) o individual retirement plan (sec 7701 (a)37del codice tributario statunitense

B. Governo degli Stati Uniti e soggetti da questi controllati

C. Stati e territori statunitensi o soggetti da questi controllati

D. Società statunitensi quotate

E. Società statunitensi appartenenti a gruppi statunitensi quotati

F. Dealer registrato negli Stati Uniiti, che negozia in titoli, materie prime, e derivati

G. Real estate investment trust

H. Regulated investment company (sec. 851 del codice tributario statunitense) e soggetto registrato in baseall'Investment Company Act del 1940

Pag. 5 di 9

I. Common trust fund definito nella sec. 584 (a) del codice tributario statunitense

J. Banca statunitense, definita nella sec. 581 del codice tributario statunitense

K. Broker statunitense

L. Trust esente da imposta, (sec. 664 o 4947(a)1) del codice tributario statunitense)

M. Trust esente da imposta (sec. 403(b) o plan 457 (g) del codice tributario statunitense)

Quadro C

Sono considerati indizi di residenza fiscale in un Paese estero, da rilevare anche tramite la documentazioneantiriciclaggio, i seguenti:

• Indirizzo estero

• Luogo di costituzione estero

• Indirizzo di corrispondenza estero

• Istruzioni permanenti di trasferimento fondi verso conti esteri

• Indirizzo di residenza estero dei procuratori

Quadro D

Di seguito si riporta la classificazione FATCA del cliente, suddivisa tra istituzioni finanziarie e non finanziarie.

D.1 Istituzioni Finanziarie (FFI “ foreign financial institution”)

1. REPORTING ITALIAN FINANCIAL INSTITUTION

Intermediari finanziari italiani che si sono registrati sul portale FATCA dell'IRS (Autorità fiscale USA)

2. REPORTING FOREIGN FINANCIAL INSTITUTION (Model 2 IGA)

Intermediari finanziari esteri, localizzati in un Paese che ha sottoscritto un contratto intergovernativo basato sul Model 2, e che si sono registrate sul portale FATCA dell’IRS

3. NON-REPORTING ITALIAN FINANCIAL INSTITUTION3.1 Certified Deemed-Compliant Italian Financial Institutions

Italian Local Financial Institution

Intermediari finanziari italiani, che rispettano i requisiti previsti nella categoria specifica dell'Annex II dell'accordo intergovernativo (tra cui il 98% del valore dei financial accounts intestati a soggetti residenti in Italia o in Paesi UE), per essere esonerati dagli obblighi di registrazione FATCA

Certain Italian Collective Investment VehiclesOICR italiani che soddisfano le condizioni previste nell'Annex II dell'accordo intergovernativo per essere esonerati dagli obblighi di registrazione FATCA

Italian Special Purpose Vehicles (veicoli di cartolarizzazione - vedi appendice

Società di cartolarizzazione istitute ai sensi della legge n. 130/1999 che rispettano i requisiti previsti

Italian non registering local bank Banche italiane che rispettano i limiti dimensionali previsti dalla normativa per essere esonerati dagli obblighi di registrazione FATCA

Specifiche categorie di fondi pensione

Fondi pensione italiani che possono beneficiare dell'applicazione del vigente Trattato contro la doppia imposizione sul reddito tra Italia e Stati Uniti o che fissano il limite di 50.000 euro ai contributi individuali nei termini previsti dall'Annex II dell'accordo intergovernativo

3.2. Registered Deemed compliant Italian Financial Institutions

Non reporting Italian members of financial group

Intermediari finanziari italiani tenuti agli obblighi di registrazione FATCA, che rispettano le condizioni previste dalla normativa5 per evitare di operare con clientela statunitense e con nonparticipating FFI e che sonopertanto esonerati dagli obblighi di segnalazione FATCA

5 Per “Normativa” si intendono le disposizioni previste dall’Accordo Intergovernativo e dalle US Treasury regulations.

Pag. 6 di 9

Qualified Italian collective investment vehiclesOICR italiani tenuti agli obblighi di registrazione FATCA, che rispettano le condizioni previste dalla normativa per evitare di operare con investitori statunitensi e che sono pertanto esonerati dagli obblighi di segnalazione FATCA

Italian restricted funds

OICR italiani tenuti agli obblighi di registrazione FATCA, che rispettano le condizioni previste dalla normativa e agiscono sulle convenzioni di collocamento per evitare di operare con investitori statunitensi e con nonparticipating FFI, e sono pertanto esonerati dagli obblighi di segnalazione FATCA

Qualified Italian credit card issuers

Intermediari finanziari italiani che emettono carte di credito, tenuti agli obblighi di registrazione FATCA, che rispettano le condizioni previste dalla normativa e impediscono la costituzione di depositi finanziari superiori a 50.000 dollari. Sono pertanto esonerati dagli obblighi di segnalazione FATCA

4. REGISTERED DEEMED COMPLIANT FOREIGN FINANCIAL INSTITUTION

Foreign Local FFI

Intermediari finanziari esteri, che rispettano i requisiti previsti dalla normativa (tra cui il 98% del valore dei financial accounts intestati a soggetti residenti nello stesso Paese della FFI, o a soggetti residenti in EU, se la FI é localizzata in Europa), per essere esonerati dagli obblighi di registrazione FATCA

Foreign Non reporting members of participating FFI groups

Intermediari finanziari esteri tenuti agli obblighi di registrazione FATCA, che rispettano le condizioni previste dalla normativa per evitare di operare con clientela statunitense e con nonparticipating FFI e che sonopertanto esonerati dagli obblighi di segnalazione FATCA

Foreign Qualified Collective Investment Vehicles

OICR esteri, tenuti agli obblighi di registrazione FATCA, che rispettano le condizioni previste dalla normativa per evitare di operare con investitori statunitensi e che sono pertanto esonerati dagli obblighi di segnalazione FATCA

Foreign Restricted Funds

OICR estero tenuti agli obblighi di registrazione FATCA, che rispettano le condizioni previste dalla normativa e agiscono sulle convenzioni di collocamento per evitare di operare con investitori statunitensi e con nonparticipating FFI, e sono pertanto esonerati dagli obblighi di segnalazione FATCA

Foreign Qualifed Credit Card Issuers

Intermediari finanziari esteri che emettono carte di credito, tenuti agli obblighi di registrazione FATCA, che rispettano le condizioni previste dalla normativa e impediscono la costituzione di depositi finanziari superiori a 50.000 dollari. Sono esonerati dagli obblighi di segnalazione FATCA

Foreign Sponsored investment entities and controlled foreign corporations

Intermediari finanziari esteri obbligati alla registrazione, la cui attività di compliance è gestita da terzi (sponsoring entities). Sino al 31 dicembre 2015, potranno fornire il GIIN della sponsoring entity

5. CERTIFIED DEEMED COMPLIANT FOREIGN FINANCIAL INSTITUTION

Non-registering local bank

Banche estere non statunitensi, che rispettano i limiti dimensionali previsti dalla normativa per essere esonerati dagli obblighi di registrazione FATCA

FFI with only low-value accountsIntermediari finanziari esteri che rispettano le condizioni previste dalla normativa, tra cui limitare i financial accounts a valori non superiori a $ 50 mila

Sponsored closely held investment vehiclesIntermediari finanziari esteri, che operano come “Non Qualified Intermediary” attraverso una sponsoring entity, ed i titolari delle quote di capitale o di debito non sono superiori a 20

Limited life debt investment entities Veicoli esteri di cartolarizzazione istituiti con atto di trust, che rispettano le condizioni previste dalle US Treasury regulations

Pag. 7 di 9

6. PARTICIPATING FINANCIAL INSTITUTION (PFFI)

Intermediario finanziario che ha sottoscritto un accordo con l’IRS (FFI Agreement) ed è in possesso di un codice GIIN

7. NON-PARTICIPATING FOREIGN FINANCIAL INSTITUTION (NPFFI)

Intermediario finanziario che non ha sottoscritto un accordo con l’IRS (FFI Agreement) e non è in possesso di un codice GIIN

8. NPFFI CHE OPERANO SOLO CON BENEFICIARI ESTERI ESENTI (EXEMPT BENEFICIAL OWNER)

Intermediari finanziari che non hanno sottoscritto un FFI Agreement con l'IRS ma operano solo con clientela a basso rischio

9. BENEFICIARI ESTERI ESENTI (EXEMPTBENEFICIAL OWNER) Investitori considerati a basso rischio (Governi, enti governativi, …)10. LIMITED FFI/LIMITED BRANCH

Intermediari finanziari che operano in Paesi che impediscono lo scambio d'informazioni - ai fini delle ritenute, devono essere identificati al pari delle NPFFI

11. SPONSORED FFI PRIVA DI GIIN Intermediario privo di GIIN, in attesa della pubblicazione delle istruzioni per la registrazione

Sponsoring entity Intermediario che effettua le attività di due diligence per conto della sponsored FFI

12. TERRITORY FINANCIAL INSTITUTIONS Intermediari finanziari localizzati in un possedimento statunitense

D.2 Istituzioni non Finanziarie (NFFE “non financial foreign entity”)

1. ACTIVE NFFE

Active Trade or Business

La NFFE realizza meno del 50% di reddito passivo o ha meno del 50% di investimenti che possano realizzare reddito passivo. Il reddito passivoè riferito ai dividendi, interessi, canoni di locazione, royalties ed altri redditi potenzialmente realizzabili senza la conduzione di un'attività d'impresa

Non-financial start up company

La NFFE è stata costituita da non più di 24 mesi, non esercita alcuna attività economica ma sta investendo per esercitare un'attività diversa da quella di financial institution

NFFE in liquidazione

La NFFE non è stata una financial institution negli ultimi 5 anni e si sta liquidando o riorganizzando per esercitare un'attività diversa da quella difinancial institution

Società finanziaria captive di un gruppo NFFELa NFFE offre servizi di finanziamento e di copertura nell'ambito di un gruppo NFFE

Ente non-profit che rispetta i requisiti IGA

Tra le altre condizioni previste, l'ente non-profit è coinvolto esclusivamente in attività con finalità religiose, caritatevoli, scientifiche, artistiche, culturali o educative ed è esente dalle imposte sui redditi

2. DIRECT REPORTING NFFE La NFFE dispone di un GIIN e provvede autonomamente alla segnalazione dei titolari effettivi statunitensi

3. SPONSORED DIRECT REPORTING NFFE

La NFFE è sponsorizzata da una sponsoring entity fornita di un GIIN, che effettua le segnalazioni per conto della sponsored NFFE

4. PASSIVE NFFE

La PASSIVE NFFE non soddisfa le condizioni previste per la conduzione di un “Active Trade or Business” ed ha l'obbligo di fornire i dati identificativi dei titolari effettivi statunitensi con i rispettivi codici fiscali

Quadro E

Di seguito si riporta la classificazione CRS del cliente, suddivisa tra istituzioni finanziarie e non finanziarie.

E.1 Istituzioni finanziarie

ISTITUZIONI FINANZIARIEUn'istituzione di Deposito, un'istituzione di Custodia, un'impresa di Assicurazioni specificata.

INVESTMENT ENTITY DI UN PAESE NON ADERENTE AL CRS

Entità il cui reddito lordo è principalmente attribuibile ad investimenti, reinvestimenti o negoziazione di Attività Finanziarie, se sussistono contemporaneamente le seguenti condizioni:(i) l'Entità è gestita da un'altra Entità che è un'istituzione di Deposito, un'istituzione di Custodia, un'impresa di Assicurazioni specificata o da un'altra entità d'investimento definita come tale ai sensi della direttiva

Pag. 8 di 9

2014/107/UE del 9 dicembre 2014, Allegato I, Sezione VIII, punto 6 a), e(ii) l'entità è localizzata in un Paese che non partecipa allo scambio d'informazioni finanziarie secondo il Common Reporting Standard (CRS), previsto dalla legge n. 95/2015 e dalla citata direttiva. E’ richiesta obbligatoriamente l’acquisizione della residenza fiscale dei titolari effettivi.

E.2 Istituzioni non finanziarie

ACTIVE NFFEEntità che realizza meno del 50% di reddito passivo o ha meno del 50%di investimenti che possano realizzare reddito passivo. Il reddito passivoè riferito a dividendi, interessi, canoni di locazione, royalties ed altri redditi potenzialmente realizzabili senza la conduzione di un'attività d'impresa.

PASSIVE NFFE Entità che non soddisfa le condizioni previste per la ACTIVE NFFE. Per le PASSIVE NFFE è richiesta obbligatoriamente l’acquisizione della residenza fiscale dei titolari effettivi.

Pag. 9 di 9

Informativa e Consenso Privacy (Art. 13 D.Lgs. 196/03)

Dal 1° gennaio 2004 è in vigore il Decreto legislativo 30 giugno 2003, numero 196 – “Codice in materia di protezione dei dati personali” che ha abrogato la Legge 675 del 1996, conosciuta anche come “legge sulla privacy”. In relazione, la BANK SEPAH – Filiale di Roma, con sede in Roma, Via Barberini 50 – di seguito “Banca” – fornisce alcune informazioni riguardanti l’utilizzo dei dati personali effettuato in qualità di "Titolare" del trattamento. L’utilizzo dei dati personali – che la normativa definisce “trattamento” – avviene nel rispetto del citato Decreto legislativo e degli obblighi di riservatezza cui da sempre si ispira l’attività della Banca.

Fonte dei dati personali - I dati personali in possesso della Banca sono raccolti direttamente presso l’interessato (1) oralmente o mediante compilazione di moduli o formulari, oppure ci vengono comunicati da terzi in occasione di operazioni tipiche dell’attività bancaria e nell’adempimento di obblighi funzionali alla conclusione e all’esecuzione di operazioni creditizie, oppure funzionali o strumentali all’attività della banca. Possono, infine, provenire da società esterne per essere utilizzati per effettuare offerte dirette di prodotti e servizi. Questi dati, in alcuni casi e solo se ciò è strettamente necessario, possono essere anche di natura sensibile (2).

Finalità del trattamento - Tutti i dati vengono trattati per eseguire il contratto

sottoscritto dall’interessato, ivi compresa la fase precontrattuale, o per fornire

servizi comunque richiesti dal medesimo. I dati vengono trattati ai predetti fini e, segnatamente, per finalità strettamente connesse e strumentali alla gestione dei rapporti, per finalità connesse a obblighi previsti da leggi, regolamenti e dalla normativa comunitaria, e anche da disposizioni impartite da autorità a ciò legittimate dalla legge, e da organi di vigilanza e controllo (ad esempio: centrale dei rischi gestita dalla Banca d’Italia, legge sull’usura, legge antiriciclaggio), Nei casi suindicati non occorre prestare il consenso al trattamento poiché la legge non lo richiede (art. 24 lettere a, b, c, d, del D.Lgs. 196/03). La Banca tratta i dati anche per finalità di marketing, ossia per attività promozionali volte a proporre l’acquisto di prodotti e servizi propri o di altri soggetti. Questo trattamento avviene solo se espressamente autorizzato dall’interessato mediante la sottoscrizione dell’apposito consenso riportato di seguito. In alcuni casi può avvenire che la banca comunichi i dati del Cliente ad altri

soggetti, sempre per finalità di marketing. Anche per tale trattamento viene richiesto un esplicito consenso. Si precisa che il conferimento di dati a questi fini, e il relativo consenso al trattamento, è assolutamente facoltativo e non preclude la possibilità di divenire Clienti della banca.

Modalità del trattamento - I dati sono trattati prevalentemente con strumenti elettronici, o comunque meccanizzati, e transitano su reti di trasmissione che collegano tutte le filiali della banca; vengono conservati per tutta la durata del rapporto, e comunque per l’eventuale ulteriore periodo stabilito dalla legge, su appositi supporti magnetici od ottici. Una parte è conservata solamente o anche su carta per facilitarne la gestione da parte dei dipendenti specificamente autorizzati (3). Ciascun dipendente della banca ha accesso solamente ai dati necessari per svolgere le mansioni assegnate. Un complesso sistema informatico e di autorizzazioni assicura il rispetto di tale misura.

Comunicazioni dei dati - Per lo svolgimento di numerose attività la

Banca si avvale di società esterne cui affida specifici trattamenti. Esse operano come Responsabili del trattamento oppure, con il necessario consenso dell’interessato, in qualità di autonomi Titolari. L’elenco dettagliato è disponibile presso il Responsabile del trattamento. Con particolare riferimento a società che gestiscono stabilmente complessi sistemi di pagamento, la Banca comunica i dati, per il trattamento in modo stabile, a S.I.B.T Srl, TAS Spa e Swift.

Diritti dell’interessato - L’articolo 7 del D.Lgs. 196/03 attribuisce all’interessato il diritto di conoscere, in ogni momento, quali sono i suoi dati personali in possesso della Banca, da dove provengono e come vengono utilizzati. E’ possibile chiedere che vengano aggiornati, integrati, rettificati o cancellati, oppure chiederne il blocco od opporsi al loro trattamento, in tutto o in parte. Per maggiori informazioni è possibile rivolgersi alla filiale presso la quale è aperto il rapporto oppure, per iscritto, al Responsabile del trattamento c/o Bank Sepah - Ufficio Privacy – Via Barberini, 50 – 00187 Roma, o anche per via telematica: e-mail [email protected].

(1) L’interessato è la persona fisica o il soggetto cui si riferiscono i dati personali. Nel caso di una banca, l’esempio tipico di “interessato” è ciascun Cliente, ma lo sono anche i soggetti che ancora non sono Clienti e ai quali la banca intende rivolgersi per proporre loro di divenirlo.

(2) Sono dati sensibili, ad esempio, quelli relativi allo stato di salute dell’interessato, oppure quelli da cui possono desumersi opinioni politiche o sindacali, oppure convinzioni religiose. Si veda l’art. 4 del D.Lgs. 196/03. La banca raccoglie e conserva questi dati solo se necessari all’effettuazione dell’operazione richiesta dall’interessato, o comunque nel suo interesse o per rispettare un obbligo di legge. I dati vengono forniti, di norma, direttamente dall’interessato ma può capitare che provengano da enti e amministrazioni che li hanno, a loro volta, raccolti nell’ambito di una specifica relazione contrattuale o amministrativa con l’interessato. In ogni caso la banca rispetta le prescrizioni impartite dal Garante nelle cd. “autorizzazioni generali” dallo stesso emanate.

(3) Un esempio tipico di dati conservati su carta è rappresentato dai contratti sottoscritti dal Cliente. Tali contratti sono conservati presso la sede della banca ove appunto è stato aperto il rapporto.

Informativa Privacy e Consenso al Trattamento (Edizione: Giugno 2016)

Operatore: _________________________

CONSENSO AL TRATTAMENTO

Con la sottoscrizione del presente modulo si dichiara di aver ricevuto copia dell’informativa sopra riportata e si prende atto, altresì, che alcuni trattamenti possono essere effettuati senza che vi sia bisogno di rilasciare un apposito consenso poiché sono necessari per eseguire il contratto o l’operazione richiesta. In secondo luogo, si acconsente alla comunicazione dei propri dati a specifiche categorie di soggetti che svolgono numerose attività per conto della Banca. E’ invece possibile prestare o meno il consenso nel caso di trattamenti correlati all’invio di materiale pubblicitario della banca o di altri soggetti – e trattamenti collegati – e anche per l’eventuale comunicazione dei dati ad altri soggetti per le medesime finalità. Si prega di crociare le caselle “SI’” o le caselle “NO”. L’interessato :

- acconsente ai trattamenti indicati nel paragrafo “Comunicazioni dei dati”. Inoltre:

- in relazione ai trattamenti per scopi pubblicitari: SI’, presta il consenso NO, nega il consenso;

- in relazione alla comunicazione dei propri dati ad altri soggetti per scopi pubblicitari: SI’, presta il consenso NO, nega il consenso;

In relazione ai trattamenti che riguardino anche dati di natura sensibile:

prende atto che potranno essere effettuati dalla banca nel rigoroso rispetto della normativa. Per specifici servizi sarà richiesto un consenso volta per volta.

Data NDG ___

Firma dell’interessato/i (se minore di età deve firmare chi ne esercita la potestà. Se persona giuridica o altro soggetto deve firmare chi ne ha la formale rappresentanza)

LEGENDA: NDG è il codice anagrafico univoco attribuito dalla banca all’interessato. Tale codice facilita il trattamento dei dati dell’interessato con gli strumenti informatici di cui dispone la banca.

Modulo per adeguata verifica del cliente e valutazione del ......soggetto per conto del quale...

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