Your application
You cannot withdraw your application for shares after the Society receives your application form. The Directors do not have to accept your application for shares. They may decide not to issue shares to you or may allocate you fewer shares than you applied for. They do not have to give any reason for their decision.
Your application will be considered for approval at the first convenient Board of Directors meeting after the close of the Invite period, and therefore you should not expect an immediate response.
Your payment
The Directors will acknowledge receipt of your payment and application.
The Directors will return your money to you (within 28 days of the Board of Directors meeting at which we consider your application) if they decide not to issue shares to you. If they decide to issue fewer shares to you than you applied for, they will return the balance to you (within 28 days of the Board of Directors meeting).
The money will belong to the Society (and the Directors will no longer hold it in trust for you) as soon as the Directors issue shares to you (to the extent that they take it as payment for shares).
The Society will not pay you interest on any money it returns to you.
Your responsibility to the Society
You promise that:
• You, as an individual, are at least 16 years of age,
• You have the authority to sign the application form. If you are signing it for another person, you will provide the Directors with evidence of your authority to sign if they ask to see it,
• You will supply us with proof of your identity and
address if the Directors ask for it. We may need to do this to comply with the Money Laundering Regulations 2003. The Directors may have to hold back your shares until they see this.
Miscellaneous
The law of England applies to these terms. The courts of England and Wales have exclusive jurisdiction.
You will be bound by the Rules of the Society (as may be amended from time to time) if the Directors issue shares to you. The registered office for Brighton Energy Limited is: Flat 7, 47 Montpelier Rd, Brighton, East Sussex, BN1 3BA.
Bankers
Bankers: The Co-operative Bank Plc, 1 Balloon Street, Manchester, M60 4EP
