46. Change of Terms & Conditions

The Bank reserves the right to vary at any time any of these Terms and Conditions, and also to vary any specific Terms and Conditions relating to a particular type of Account, and may give notice of variation in such manner as it considers appropriate. Unless the Bank receives written notice from the Account Holder that the Account Holder objects to the variation within 28 days of the date of the said notice, the variation shall be deemed accepted by the Account Holder.

These Terms and Conditions shall be binding upon the Account Holder and upon their heirs, executors, administrators, successors and assigns of the Account Holder (and each of them, where more than one) and shall operate for the benefit of the Bank and its successors and assigns.

Where an Account Holder elects to receive these Terms and Conditions in print form or electronically, or to access them at the Bank's website (www.closetreasury.co.uk), it shall satisfy itself when conducting business with the Bank as to any changes which may be made from time to time by the Bank to these Terms and Conditions. The existence (but not the details) of such changes will normally be notified on the Bank's Statements, Confirmations and Advices sent to the Account Holder for a period of at least three months following implementation by the Bank of such changes.

Should the Bank receive from the Account Holder written notice of objection to any variation to its Terms and Conditions within 28 days of the date of the said notice, and should the Bank thereafter be unable to come to agreement with the Account Holder over any such variation, then the Bank, at its discretion, may give notice and subsequently may close any Accounts held by the Account Holder with the Bank, and may repay the principal sums owing to the Account Holder, together with any accrued interest, as applicable, but less any charges or costs which the Bank deems appropriate.

The Bank accepts no obligation to agree, and no liability for failure to agree, with an Account Holder any variation.

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