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Declaration

The information and data contained in this Website do not constitute distribution, an offer to buy or sell or solicitation of an offer to buy or sell any Schemes/Units of HDFC Mutual Fund in any jurisdiction in which such distribution, sale or offer is not authorised. The material/information provided in this Website is for the limited purposes of information only for the investors. In particular, the information herein is not for distribution and does not constitute an offer to buy or sell or solicitation of an offer to buy or sell any Schemes/Units of HDFC Mutual Fund to any person in the United States of America ('USA')/Canada.

By entering this Website or accessing any data contained in this Website, I/We hereby confirm that I/We am/are not a U.S. person, within the definition of the term 'US Person' under the US Securities laws/resident of Canada. I/We hereby confirm that I/We am/are not giving a false confirmation and/or disguising my/our country of residence. I/We agree and acknowledge that HDFC Mutual Fund/HDFC Asset Management Company Limited (HDFC AMC) is relying upon my/our confirmation and in no event shall the directors, officers, employees, trustees, agents of HDFC AMC associate/group companies be liable for any direct, indirect, incidental or consequential damages arising out of false confirmation provided herein.

  Acceptance of third party payments for subscription of units

Restriction on Acceptance of Third Party Payments for Subscription of Units

1. HDFC Asset Management Company Limited ("AMC")/HDFC Mutual Fund ("Mutual Fund"), shall not accept applications for subscriptions of units accompanied with Third Party Payments from the Effective Date except in cases as enumerated in para 2A below.

"Third Party Payment" means
payment made through an instrument issued from a bank account other than that of the first named applicant/investor mentioned in the application form. In case of payment instruments issued from a joint bank account, the first named applicant/investor must be one of the joint holders of the bank account from which the payment instrument is issued.

For example:
Illustration 1: An Application submitted in joint names of A, B & C along with cheque issued from a bank account in names of C, A & B. This is a valid application.

Illustration 2: An Application submitted in joint names of A & B & C along with cheque issued from a bank account in names of B, C & Y. This is an invalid application.
Immediately after a NEFT payment is effected, an intimation will be sent to the investor via a statement of account for redemptions and by means of a NEFT advice for dividend payments.

Illustration 3: An Application submitted in joint names of A, B & C along with cheque issued from a bank account in name of A. This is a valid application.

2. A. As referred to in para 1 above, following are the exceptional cases where third party payments will be accepted subject to submission of requisite documentation/declarations.

i) Payment by Parents (father / mother or a court appointed legal guardian) on behalf of a minor in consideration of natural love and affection or as gift. The Parents will have to comply with all the requirements specified in 2B below;
ii) Payment by Related Persons* on behalf of a minor in consideration of natural love and affection or as gift for a value not exceeding Rs. 50,000 for each regular purchase or per SIP installment (This limit of Rs. 50,000 shall not be applicable for investments in HDFC Children's Gift Fund. However, the Donors will have to comply with all the requirements specified in 2B below.
iii) Payments by an employer on behalf of employee as lump sum / one-time subscription/SIP through Payroll deductions will be also be treated as an exception to the third party investment restriction. Here, the requirement of the employer to submit third party declaration form and being KYC compliant will apply.
iv) Custodian on behalf of an FII or a Client. * 'Related Person' means any person investing on behalf of a minor in consideration of natural love and affection or as a gift.
* 'Related Person' means any person investing on behalf of a minor in consideration of natural love and affection or as a gift.

2.B. Investors submitting their applications through the above mentioned 'exceptional cases' are required to comply with the following, without which applications for subscriptions for units will be rejected/not processed/refunded.

(i) Mandatory KYC for all investors (guardian in case of minor) and the person making the payment i.e. third party. In order for an application to be considered as valid, investors and the person making the payment should attach their valid KYC Acknowledgement Letter to the application form.
(ii) Submission of a separate, complete and valid 'Third Party Payment Declaration Form' from the investors (guardian in case of minor) and the person making the payment i.e. third party. The said Declaration Form shall, inter alia, contain the details of the bank account from which the payment is made and the relationship with the investor(s). Please contact the nearest Investor Service Centre (ISC) of HDFC Mutual Fund or visit our website www.hdfcfund.com for the said Declaration Form.
3. The Mutual Fund shall adopt the following procedures to ascertain whether payments are Third Party Payments and investors are therefore required to comply with the requirements specified hereinbelow.

(i) Source of funds - if paid by cheque

An investor at the time of his/her purchase of units must provide in the application form the details of his pay-in bank account (i.e. account from which a subscription payment is made) and his pay-out bank account (i.e. account into which redemption/dividend proceeds are to be paid). Identification of third party cheques by the AMC/Mutual Fund/Registrar & Transfer Agent (R&TA) will be on the basis of either matching of payin bank account details with pay-out bank account details or by matching the bank account number/name/signature of the first named applicant/ investor with the name/account number/signature available on the cheque. If the name is not pre-printed on the cheque or signature on the cheque does not match, then the first named applicant/investor should submit any one of the following documents:

(a) a copy# of the bank passbook or a statement of bank account having the name and address of the account holder and account number;
(b) a letter* (in original) from the bank on its letterhead certifying that the investor maintains an account with the bank, along with information like bank account number, bank branch, account type, the MICR code of the branch & IFSC Code (where available). # Investors should also bring the original documents along with the documents mentioned in (a) above to the ISCs/Official Points of Acceptance of HDFC Mutual Fund. The copy of such documents will be verified with the original documents to the satisfaction of the AMC/Mutual Fund/R&TA. The original documents will be returned across the counter to the investor after due verification.

RESTRICTION ON ACCEPTANCE OF THIRD PARTY PAYMENTS FOR SUBSCRIPTION OF UNITS OF SCHEMES OF HDFC MUTUAL FUND
* In respect of (b) above, it should be certified by the bank manager with his/her full signature, name, employee code, bank seal and contact number.
Investors should note that where the bank account numbers have changed on account of the implementation of core banking system at their banks, any related communication from the bank towards a change in bank account number should accompany the application form for subscription of units.
The Mutual Fund has also provided a facility to the investors to register multiple bank accounts. By registering multiple bank accounts, the investors can use any of the registered bank accounts to receive redemption/dividend proceeds. These account details will be used by the AMC/ Mutual Fund/R&TA for verification of instrument used for subscription to ensure that third party payments are not used for mutual fund subscription, except where permitted in (2A) above. Investors are requested to avail the facility of registering multiple bank accounts by filling in the Application Form for Registration of Multiple Bank Accounts available at our Investor Service Centres (ISCs) or on our website http://www.hdfcfund.com/.

(ii) Source of funds - if funded by pre-funded instruments such as Pay Order, Demand Draft, Banker's cheque etc.
Investors should attach a Certificate (in original) from the issuing banker with the purchase application, stating the Account holder's name and the Account Number which has been debited for issue of the instrument. The said Certificate should be duly certified by the bank manager with his/her full signature, name, employee code, bank seal and contact number. The account number mentioned in the Certificate should be a registered bank account or the first named applicant/investor should be one of the account holders to the bank account debited for issue of such instruments.

(iii)Source of funds - if paid by RTGS, Bank Account-to-Account Transfer, NEFT, ECS, etc.
Investors should attach to the purchase application form, an acknowledged copy of the instruction to the bank also stating the account number debited. The account number mentioned on the transfer instruction copy should be a registered bank account or the first named applicant/ investor should be one of the account holders to the bank account debited for such electronic transfer of funds.

(iv)Source of funds - if paid by a pre-funded instrument issued by the Bank against Cash
The AMC/Mutual Fund/R&TA will not accept any purchase applications from investors if accompanied by a pre-funded instrument issued by a bank against cash for investments of Rs. 50,000 or more. The investor should submit a Certificate (in original) obtained from the bank giving name, address and PAN (if available) of the person who has requested for the payment instrument. The said Certificate should be duly certified by the bank manager with his/her full signature, name, employee code, bank seal and contact number. The AMC/Mutual Fund/R&TA will check that the name mentioned in the Certificate matches with the first named investor. The above broadly covers the various modes of payment for mutual fund subscriptions. The above list is not a complete list and is only indicative in nature and not exhaustive. Any other method of payment, as introduced by the Mutual Fund, will also be covered under these provisions.

In order to prevent frauds and misuse of payment instruments, the investors are mandated to make the payment instrument (cheque, demand draft, pay order, etc.) favouring either of the following (Investors are urged to follow the order of preference in making the payment instrument favouring as under):
1 "XYZ Scheme A/c Permanent Account Number"
2. "XYZ Scheme A/c First Investor Name"

For example: HDFC Top 200 Fund A/c ABCDE1234F OR HDFC Top 200 Fund A/c Bhavesh Shah.

Investors transacting through MFSS/BSE StAR MF Platform under the electronic order collection system for schemes which are unlisted and Stock Exchange(s) for the listed schemes will have to comply with norms/rules as prescribed by Stock Exchange(s). In case the application for subscription does not comply with the above provisions, the AMC/Trustee retains the sole and absolute discretion to reject/not process such application and refund the subscription money and shall not be liable for any such rejection.

The Trustee reserves the right to modify the aforesaid requirements at their sole discretion. All other terms and conditions of the Statement of Additional Information will remain unchanged.

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1800 3010 6767
1800 419 7676
Investors from abroad
91 44 33462406
Email us at cliser@hdfcfund.com

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