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 Rules of the game: Exclusions & Legal Stuff

WHO CAN PLAY

Any individual, club or informal partnership (stokvel) may enter the game in their private capacity, unless they fall under the exclusion rule below.

No employees of the Make a Million (MAM) partners (Moneyweb Holdings Limited, Galileo Capital, Online Securities Limited t/a PSG Online) or any members of their immediate families will be eligible to win the competition.

COMPETITION RULES

  1. The competition is run by Make-a-Million (Pty) Ltd. The competition's organiser is Make-a-Million ("the organiser").

  2. No employees of the organiser or of Moneyweb (Pty) Ltd, Galileo Capital (Pty) Ltd, Online Securities Ltd or any members of their immediate families are eligible for any prizes.

  3. These are the rules governing participation in the competition. If you do not wish to be bound by these rules, you should not enter the competition. By entering the competition, you confirm that you have read and accept these rules and will be bound by them.

  4. By participating in the competition, you further agree to be bound by PSG Online's Internet terms & conditions. By clicking the check box on the Make-a-Million registration page, you agree to accept these rules and to be bound by them.

  5. The organiser reserves the right to cancel, modify or amend the competition at any time, if deemed necessary in its opinion, or if circumstances arise beyond its control.

  6. You may compete in the competition by registering online at either the Make-a-Million website or the PSG Online website ("the website").

  7. Entry to the competition opens on Monday 29 August 2011. Entries close on Friday 18 November 2011 or once 1000 participants have entered and traded. Please take note that you may be at a disadvantage if you enter later than other entrants and that the competition rules will not be amended to accommodate you. Also note that you must allow time for PSG Online to open your trading account after you have completed the online application process.

  8. The competition will commence at 08h30 on Monday, 29 August 2011 and will close at 17h30 on Friday, 2 December 2011.

  9. In order to register you need to open a separate MAM7 trading account by completing the following online application form.

  10. If this is your first registration with PSG Online you are required to submit the required FICA documents which can be faxed through to 011 996 5495 or emailed to brokerage@psgonline.co.za where faxed copies are allowed.

  11. To participate an entrant must deposit exactly R20 000 into Online Securities (Pty) Ltd's bank account for each entry. This amount is calculated as follows:

R 18 000 – trading funds which can be used as the initial margin on your positions (this money or the instruments it buys belongs to you, even after the competition, provided that no losses have been incurred on your positions which are not covered by your maintenance margin.

R 2 000 – variation margin which is held in a JSE trustees account for the duration of the competition and is held as a provision for losses incurred which exceed the R18 000 initial required margin value.

  1. NO ENTRY FEE is required.

  2. An entry is valid once the organiser has confirmed to you in writing or by e-mail that you have entered successfully by completing the online registration process, depositing the relevant amount into the Online Securities-MAM bank account and supplying the necessary FICA documentation. You undertake to provide to the organiser such correct personal particulars as are necessary.

  3. The banking details are:

Account name: Online Securities-MAM

First National Bank (FNB)

Account no: 62225360700

Branch no: 255005 (Corporate Account Services - Jhb)

  1. There is no restriction on the number of entries. You may enter as many times as you like. Entry to the competition may be restricted at any time at the organiser's sole discretion. Entries are limited to the first 1,000 participants who register and trade.

  2. You may only trade the following instruments listed on the JSE, listed on the South African Futures Exchange (SAFEX) and the Currency Trading Exchange (YieldX):

  • On SAFEX : The Top 40 Single Stock Futures (SSFs)

  • On SAFEX : ALSI and ALMI index contracts

  • On SAFEX: GOLD, PLAT, WTIO, SILVER, COPPER contracts

  • On YieldX : All liquid R/currency pairs

A full list of all instruments will be published on the MAM website before the start of the competition and will not change during the competition. All instruments are also subject to all the standard rules and regulations applicable to instruments authorised for all PSG Online trading accounts – such as the contract dates available and liquidity requirements mandated by the Clearing Member of PSG Online.

  1. All futures contracts will be automatically rolled over to the next valid contract expiry date for the same instrument, unless competitors agree a different procedure with the organizer in writing.

  2. Competitors may not add additional funds to their initial portfolio value unless the funds are to be leveraged against losses incurred once all of their positions have been closed and their initial and maintenance margins do not cover these losses. Competitors may however reset accounts to R18,000 and initiate trading again, subject to written confirmation by PSG Online that the account has been reset.

  3. Dealing in relevant instruments can take place between 08h30 and 17h30 as stipulated by the relevant markets on any business day. You may telephone 0860 774 774 during these times for a portfolio update.

  4. You may withdraw your entry at any stage of the competition. Any withdrawal of cash will be deemed to be a withdrawal from the competition.

  5. To qualify for the R1 million prize you must trade your positions out to cash before the closing date – i.e. you start the competition with cash and, for the purposes of your competition entry, you should end the competition with cash. This rule does not apply to other prizes in the competition.

  6. The system will deduct brokerage commission when contracts are bought or sold. Cash balances will attract interest.

  7. You must ensure that all care is taken when you enter into transactions. The organiser will not be held liable for costs incurred or any other consequences of participants’ errors.

  8. You undertake to provide a unique “Leader Board Name" or alias. Your chosen name will not necessarily be available to you if chosen by another entrant or if, in the organiser's sole discretion, it is not acceptable.

  9. The organiser may hide (“blank out”) the “Leader Board” at any time during the competition or likewise make available information regarding the portfolio, instruments or values of the entrants, for the purposes of the competition. The organisers may also hide certain portfolio values from the leaderboard, while still reflecting the correct position in the leaderboard ranking.

  10. The organiser may use your personal particulars for future promotional, marketing and publicity purposes of the organiser and its associated companies and entities.

WINNING - Make a Million

  1. The competition winner will be the participant whose cash balance is the highest at the end of the competition period. Any contracts still held in your portfolio will not be counted.

  2. The R1 million prize is not transferable, negotiable or deferrable. In the event of a tie, the prize money will be split. The prize winner will be notified within one week of the close of the competition.

  3. The organiser's decision is final and no correspondence will be entered into. Neither the organiser nor its agents will be held responsible to any entrant for any disputes arising from the competition or prize awards.

  4. The organiser has the sole right to determine what constitutes a winning entry, and whether a participant has validly participated in the competition. The organiser will not enter into any correspondence or discussion about the participation of any participant.

  5. The winner undertakes to take part in publicity at the organiser's request, including publicity about accepting the prize or by appearing for interviews. The winner grants permission to the organizer to use the winner’s name and photograph in the media and on the organiser's websites (Make-a-Million, PSG Online and Moneyweb).

  6. Winners of specific sub-competitions that may be run within the competition accept that certain other conditions may apply as prescribed by the organiser and/or the respective sponsor of the specific sub-competition.

  7. The organiser is of the opinion that prizes may attract taxation. Accordingly, entrants are advised to seek their own taxation or legal advice regarding their participation in the competition. The organiser may withhold any portion of prize money for the purposes of taxation if this is deemed necessary in the opinion of the organiser or the South African Revenue Services.

  8. In the case of disqualification, any prize moneys awarded must be refunded to the organiser forthwith.

  9. No participant in MAM is allowed to manipulate the market in order to gain an unfair advantage.

MAM 7 ADDITIONAL RULES

  1. All participants will start on the same brokerage commission rate determined at the time of registration. The organisers of the competition will make it possible for that rate to reduce as the competition progresses. Further details will be available on the www.makeamillion.co.za website and on Facebook. The organisers will do their best to ensure that all participants are aware of the ways in which the rate can be reduced, but it remains the responsibility of all participants to ensure they use these reductions to their advantage.

MAM7 Fee Discount Rules

  1. For the first trade, the fee will be 0.60%
    After the first SSF trade, you will receive a discount of 0.05%
    After the second SSF trade, you will receive a further discount of 0.05%
    After every SSF trade thereafter - you will receive a further discount of 0.02%

    Join us on Facebook and visit regularly for more discounts that will be announced on the site.

    With an eventual minimum charge of 0.40%

    MAM7 Fee Discount Explanation*

    Your first trade will be charged at 0.6%. Your second trade will cost 0.55%. Your third trade will cost 0.5%. Thereafter, each trade will see your fee drop by a further 0.02%, until you reach a minimum of 0.4%. We will publish further ways of reducing your trading costs - watch our Facebook page and listen to Moneyweb Radio for details.

    Notes

    * All numbers exclude VAT
    * Discount will be applied cumulatively on all subsequent trades

    Exclusions
    The following transactions are excluded:
    * Quarterly rolling transactions – charged at 0.25% of the DEC11 contracts
    * Any transaction on which no fee is charged
    * Currency trades - always remain on standard fee of R18 per contract
    * Index trades - always remain on standard fee of R25 per ALSI and R5 per ALMI contract

    *Notes content adjusted 30 August 2011

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