Post by alender on Apr 21, 2020 14:53:18 GMT
20. Altered Circumstances and Changes to The Terms
1. If there is a change in circumstances or a change in the law, HM Revenue & Customs practice or regulations or the interpretation of them, or if any Assetz Capital Company wishes to make changes to the services which it provides on the Network or Website, the Assetz Capital Companies may amend these Terms from time to time as they think fit.
2. Where a change to these Terms does not affect existing Micro Loans and does not disadvantage existing Lending Members or where the changes are reasonably believed by the Assetz Capital Companies to be in the interests of the Lending Members, the Assetz Capital Companies may make any amendments to these Terms at any time with immediate effect. Where it is necessary or desirable to make changes to these Terms which affect existing Micro Loans or may disadvantage existing Lending Members, the Assetz Capital Companies will endeavour to provide 30 days notice before any changes take effect. Any such notice shall be posted on the Website.
3. Any amendments will be posted on the Website as soon as reasonably practicable. By continuing to use the Website, by either logging in or leaving investments within Investment Accounts or Access Accounts on a daily basis, each Lending Member agrees to be bound by the amended Terms.
I think you will see the problem
1. Does not apply in this case.
2. Does not apply as it disadvantage existing Lending Members, i.e. larger investors,
3. Just because I log on to a site I do not believe this can force me to accept these T&Cs under the "unfair terms of contract" and if I cannot remove my money because actions that AC have taken I do not believe AC can again make me accept the new T&Cs under the "unfair terms of contract" as AC prevented this course of action. Also as I have to leave money in the website unless I login to withdraw the money it makes a mockery of the logging in clause.
From a legal website
Assessing whether a variation term is fair
whether the customer will have "freedom to exit", contractually and practically