Wednesday, July 26, 2017

Terms & Conditions

Privacy Policy

The Angel’s Share website is managed by The Business Growth Team- Perth & Kinross Council.

The information supplied by you will only be used by Perth & Kinross Council to satisfy the matching aims of The Angel’s Share Programme and as such will only be communicated to registered users. Every attempt is made to ensure registered users are bona fide entrepreneurs or investors registered with the service for matching purposes. Your details are shared for this purpose and this purpose alone.

As an investor your details are never made public on the website. Business details are made public on the website but in a non-specific way so as not to constitute a promotion.

Any personal information we collect will be used in accordance with the data protection act 1998.

You are entitled to know what personal information Perth and Kinross Council holds about you on payment of a fee of £10. Contact the Data Protection Officer, Perth & Kinross Council, 2 High Street, Perth PH1 5PH. Or email dataprotection@pkc.gov.uk.

Legal

The Angel’s Share i provides a service to match groups or individuals seeking investment capital with groups or individuals looking to invest in early-stage and seed businesses. The Angel’s Share and the associated Business Advisors will not give advice on the risks of investment and are not authorised to carry on investment business under the Financial Services and Markets Act 2000.

Perth & Kinross Council does not warrant the suitability of individual businesses nor does it offer any warranties re matters which should be addressed by the parties via ordinary diligence.

On entering wwwtheangelsshare.org.uk you agree to the terms and conditions set out here and you accept our privacy policy. If you object to any of the terms and conditions set out in this agreement you should not use any of services on the website and leave immediately.

You agree that you shall not use the Website, or contacts made through it, for illegal purposes, and will respect all laws and regulations. You agree not to compromise the security of the website.

Investors

To register as an Investor with The Angel’s Share,you must satisfy at least one of the following statements to use our service. Please download, sign and return a copy to us.

Statement for Self Certified Sophisticated Investor (PDF)


Statement for Certified High Net Worth Individual (PDF)



1. Statement for Self-Certified Sophisticated Investor


I declare that I am a self-certified sophisticated investor for the purposes of the Financial Services and Markets Act (Financial Promotion) Order 2001.

I understand that this means that:

(a) I can receive financial promotions that may not have been approved by a person authorised by the Financial Services Authority;

(b) The content of such financial promotions may not conform to rules issued by the Financial Services Authority;

(c) By agreeing to this statement I may lose significant rights;

(d) I may have no right to complain to either of the following:

(i) The Financial Services Authority; or

(ii) The Financial Ombudsman Scheme;

(e) I may have no right to seek compensation from the Financial Services Compensation Scheme.


I am a self-certified sophisticated investor because at least one of the following applies:

(a) I am a member of a network or syndicate of business angels and have been so for at least the last six months prior to the date below;

(b) I have made more than one investment in an unlisted company in the two years prior to the date below;

(c) I am working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises;

(d) I am currently, or have been in the two years prior to the date below, a director of a company with an annual turnover of at least £1 million.

I accept that I can lose my property and other assets from making investment decisions based on financial promotions.
I am aware that it is open to me to seek advice from someone who specialises in advising on investments.

2. Statement for Certified High Net Worth Individual


I declare that I am a certified high net worth individual for the purposes of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001.

I understand that this means:

(a) I can receive financial promotions that may not have been approved by a person authorised by the Financial Services Authority;

(b) The content of such financial promotions may not conform to rules issued by the Financial Services Authority;

(c) By agreeing to this statement I may lose significant rights;

(d) I may have no right to complain to either of the following:

(i) The Financial Services Authority; or

(ii) The Financial Ombudsman Scheme;

(e) I may have no right to seek compensation from the Financial Services Compensation Scheme.

I am a certified high net worth individual because at least one of the following applies:

(a) I had, during the financial year immediately preceding the date below, an annual income to the value of £100,000 or more;

(b) I held, throughout the financial year immediately preceding the date below, net assets to the value of £250,000 or more. Net assets for these purposes do not include –

(i) The property which is my primary residence or any loan secured on that residence;

(ii) Any rights of mine under a qualifying contract of insurance within the meaning of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001; or

(iii) Any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependents are), or may be entitled.

If an individual is unable or unwilling to be self-certified, he may nevertheless be certified by an authorised person to the effect that he is “sufficiently knowledgeable to understand the risks associated with that description of investment”.

It is recommended that anyone interested in becoming self certified should seek professional financial advice to ensure that they understand the additional risks involved before applying.

In order to mitigate these risks, we would strongly recommend that Business Angels seek professional legal and financial advice prior to making an investment in any opportunity, and undertake thorough due diligence on the specific opportunity.

As an investor you are strictly prohibited from directly contacting entrepreneurs listed on the website.

Businesses

It is recommended that businesses seeking to attract direct investment from individuals or groups should seek professional financial and legal advice to ensure that they understand the risks involved.

We strongly recommend that businesses and entrepreneurs seek professional legal and financial advice prior to accepting an investment and undertake thorough due diligence on those seeking to invest in their business.

Since 3 March 2005 it has been a legal requirement that Business Plans must have a prominent warning as follows:

Warning: The content of this promotion has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Reliance on this promotion for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested.

When preparing business plans it is important to understand clearly the difference between financial projections and financial forecasts. In either case these should be reasonably based on appropriate assumptions which can be verified by prospective investors but projections are merely illustrative whereas forecasts represent the directors view of the likely outcome.

In preparing a business plan it is illegal for businesses to

Make a statement, promise or forecast which they know to be misleading, false or deceptive in any material particular;

• Dishonestly conceals any material facts whether in connection with a statement, promise or forecast made by them or otherwise; or

• Recklessly makes (dishonestly or otherwise) a statement, promise or forecast which is misleading, false or deceptive in a material particular

 

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