Privacy Policy

Words and expressions used in this Disclaimer are defined in the Acceptable Policies of use.

This agreement will constitute a binding and enforceable agreement between you (individually and in your individual capacity as an employee, officer, agent, partner, etc. of each organization you represent in connection with any use of the website). By using the website or any Services, you acknowledge and agree that you have fully read and agree to be bound by the provisions of this agreement, exactly as if it were printed on paper and signed by you. If you do not agree to be bound by this Agreement in its entirety, then you must immediately stop using all Website and Services.

When you use our Website or Service in the course of your employment or business, you enter into this Agreement both on your own behalf and in your individual capacity as an employee, officer, agent, partner, etc. of such organization which you represent, and references in this Agreement to “you” shall mean both you as the individual user of the Website or Service and you in your capacity as a representative of your organization.



Magentum Group may remove, amend, or replace any provision of this Agreement at any time, but, if it does so, Magentum will be posting such changes on the website before they become effective.

If you are a client of Lutea (Hong Kong) Limited, nothing in this Agreement will superseded any provision of your engagement letter, or other agreement with respect to our client relationship.

The website, all content and all marketing emails are provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. Any information contained in this, any other website or marketing emails should not be construed as legal advice and is not intended to be a substitute for legal counsel on any subject matter.

You acknowledge and agree that electronic communication and databases are subject to errors, tampering and break0ins and that, notwithstanding Magentum’s implementation of reasonable security precautions, Magentum does not, nor does any entity part of the Magentum Group, Guarantee, or warrant that such events will not take place.

The website may include hyperlinks to third-party websites. Except with respect to other websites, Magentum is not responsible for, and make no representations or endorsements with respect to, any such website, or with respect to any product or service that may be provided by or through such websites. You should be aware that such websites, products or services may be provided subject to privacy policies, acceptable policies and terms of use that differ substantially from the provisions of this Agreement, and you should consult such terms of use before using such website, products or services.

Emails from Magentum Group or any other affiliates and any files transmitted within are intended solely for the use of the individual or entity to whom they are addressed. If you receive email in error, please notify us at info@magentum.hk. If you are not the named addressee you should not disseminate, distribute, or copy the email.

Before using this website, please read the terms set forth below as they apply to your use of this website. By using and continuing access to this website, you shall conclusively be deemed to have accepted the terms of use set forth below.

Words and expressions used in this page and elsewhere on the website are defined below.

All information in this website is for your general reference only. We do not accept any responsibility whatsoever in respect of such information.

Magentum grants you a revocable, non-transferable, nonexclusive license to include a hyperlink on your own website to the home page of any website; provided, that you do not: (a) “deep link” to any other page of any website, (b) “frame” any website or content, or otherwise cause any website or any content to appear in a window with any other material, (c) cause the hyperlink or the website to be displayed in any way that is disparaging to Magentum Group, or any entity that is part of Magentum, or (d) otherwise imply or state that any type of relationship or special arrangements exist with Magentum Group that have not been approved in writing by Magentum. You agree that you will promptly remove any hyperlink to any website upon written request from Magentum to do so. In no event will you use Magentum’s logo or any other trademark as a hyperlink “button” or in any manner without Magentum’s express written consent.

Magentum group provides the website, and content, solely as an accommodation to you, and Magentum will not accept any risks arising from your use thereof. As such, you will indemnify, defend, and hold harmless Magentum and their respective partners, employees, vendors, and agents, from and against any and all claims that arise from or relate to: (a) your use of any website and content; (b) your breach of any provision of this Agreement.

You agree to defend, indemnify, and hold us, our affiliates and their respective directors, officers, employees, and agents harmless from and against all liabilities, damages, claims, actions, costs, and expenses (including without limitation legal fees), in connection with or arising from your breach of any of these Terms of Use and/or your use of this Website. We may, if necessary, participate in the defence of any claim or action and any negotiations for settlement in respect of the aforesaid matters. No settlement which may adversely affect our rights or obligations shall be made without our prior written approval. We reserve the right to assume defence and control of any claim or action exclusively.

In no event shall we be liable for any direct, indirect, incidental, special, economic, or consequential loss or damages of any kind whatsoever. You understand and agree that any information downloaded or otherwise obtained through the use of this website is at your own discretion and sole risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such information.

The limitation of liability contained in these terms of use will apply to the fullest extent permitted by applicable laws. In jurisdictions with do not allow the exclusion or limitation of certain types of liability, our liability will be limited to the maximum extent permitted by law.

We may, in our sole discretion and at any time, without notice to you, add to, amend, or remove any Information from this Website, alter the presentation, substance, or functionality of this Website.

We may amend, add, or delete any provisions of the Terms of Use from time to time in our sole discretion and such amendment, addition, or deletion shall be effective immediately upon either posting the modified Terms of Use. You agree to review these Terms of Use periodically to ensure that you are aware of any modifications. Your continued access of and use of the Information of this Website and Services following such amendments to the Terms of Use, shall conclusively be deemed to be your acceptance of the modified Terms of Use.

These Terms of Use shall be governed by the law of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong").

Lutea (Hong Kong) Limited part of the Magentum Group, takes all reasonably practicable precautions and exercises due diligence to comply with the requirements under the Personal Data (Privacy) Ordinance, Cap 486 (“PDPO”). The policy of Lutea (Hong Kong) Limited in handling personal data is stated in this Privacy Notice which is publicly accessible on Magentum’s website at www.magentumgroup.com.

When this Notice applies

This Privacy Notice explains how we manage personal information that we obtain:

• In the course of carrying out business intake procedures
• From or about individuals who are our clients
• From or about individuals in the course of providing Services or advice to our clients
• From or about individuals in the course of operating business generally, including marketing data. 

If you are a partner of or work for Lutea (Hong Kong) Limited, you should consult the data privacy information provided to you in connection with your role. 

How we collect personal information and the types of personal information

The personal information we may directly collect from you will depend on the nature of your interactions with Lutea (Hong Kong) Limited and whether you:

• Have engaged our Services or advice,
• Are recipient of our marketing communications or attend events,
• Have interacted with Magentum Group websites,
• Have a connection to a member of our personnel,
• Or have a vendor relationship or similar with Lutea (Hong Kong) Limited.

In addition, we may collect personal information about you from third parties. Third parties may include but are not limited to instructing clients (where your information forms part of a client matter) and providers of verification services for client onboarding. We may monitor your use and interactions with our websites, marketing we send and communication between you and Lutea (Hong Kong) Limited.

We may collect information from you which includes but is not limited to: 

• Individuals: - your name, your gender, your date of birth, your nationality, your Hong Kong identity card number, your passport number, and your passport’s place of issue.
• Companies: - full name of the corporation, date and place of incorporation, registration or incorporation number and address of registered office in the place of incorporation and business address.
• Financial information such as billing addresses, bank account and payment information.
• Information relating to your website usage and technical data that is collected through tracking technologies.
• And any other information relating to you that you or others may provide.

Purpose of personal information

We will collect, process, retain and use such personal data for the purposes of

• providing services to you;
• designing services or related products for your use;
• collecting outstanding fees; and
• satisfying the applicable legal and regulatory requirements. In dealing with personal data, we will ensure compliance by our employee with the standards of security and confidentiality prescribed under PDPO.

Personal data held by us will be kept confidential but we may, where such disclosure or transfer is necessary to satisfy the purpose, or directly related purpose, for which the data was collected provide such information or copies to the relevant parties including authorized personnel, government bodies and other regulators as required under the law or pursuant to any regulatory arrangements or any person to whom we are required to make disclosure under any law applicable in Hong Kong.

Any personal data collected from our client may be accessible by our other offices or offices affiliated to us outside Hong Kong (including, without limitation, our offices in United Kingdom) or by companies which are formally associated with us, in jurisdictions whose data protection laws may not be as comprehensive as those of Hong Kong. Certain personal data may also need to be transferred to our auditors, our insurers or our bankers outside Hong Kong for accounting or compliance purposes.

In addition, we intend to use the client’s personal data (including, without limit, the client’s name, email address, telephone number and correspondence address) for direct marketing purposes.

Direct marketing will include sending to the client our regular email alerts, announcements, updates, festive greetings and invitations to events. The purpose of these communications is to keep clients up to date with our business developments and other areas of interest, and to market our services to clients. We keep our clients’ personal data confidential in accordance with these terms. By accepting the terms of this agreement, you have explicitly given your consents for us to use your personal data for direct marketing purposes.

You have the right to ask us not to process your personal information for marketing purposes. You can exercise your right at any time to prevent such processing by contacting us as set out below.

Under and in accordance with the terms of the PDPO and guidelines issued pursuant thereto, any individual may:

• check whether we hold personal data about him/her and may request access to such personal data;
• request us to correct any personal data relating to him/her which are inaccurate;
• request us to specify the policies and practices in relation to personal data and to be informed of the kind of personal data held by us; and
• request us to cease using his/her personal data for marketing purposes.

Any such request shall be made to us in writing to the address or email address provided below. In accordance with the law, we have the right to charge a reasonable fee for processing any such request at 17/F, LKF29, 29 Wyndham Street, Central, Hong Kong; Email: info@magentum.hk

What about Cookies?

A HTTP cookie is a small text file that a website stores on your computer Browser that assist us in providing a more customized website experience. When you visit a site that uses cookies for the first time, a cookie is downloaded onto your computer. The next time you visit that site, your computer checks to see if it has a cookie that is relevant and sends the information contained in that cookie back to the site. The site then recognizes that you have been there before, and in some cases, tailors what appears on screen to take account of that fact.

Magentum Group website minimises the use of cookies to those strictly necessary, third-party performance cookies (google analytics) and functionality cookies.

Many browsers permit individuals who are concerned about cookies to decline them. Typically, by accessing the browser’s help feature you can obtain information on how to prevent your browser from accepting all cookies or to notify you when a cookie is being sent. In most cases, you may refuse or delete one or more cookies from your system after you finish browsing our website if you wish to.

By using our Website, you consent, where such consent is necessary and valid under applicable law, to our use of cookies and the placement of these cookies on your device for the purposes described.

Hyperlinks from the Magentum Group to websites outside the Magentum Group

There may be cases on our website when Magentum provides hyperlinks to other locations or websites on the Internet. These hyperlinks lead to websites published or operated by third parties who are not affiliated with or in any way related to Magentum. They have been included in our website to enhance your user experience and are presented for information purposes only. We endeavour to select reputable websites and sources of information for your convenience.

However, by providing hyperlinks to an external website or webpage, Magentum shall not be deemed to endorse, recommend, approve, guarantee, or introduce any third parties or the services/advice they provide on their websites, or to have any form of co-operation with such third parties and websites unless otherwise stated by Magentum.

We are not in any way responsible for the content of any externally linked website or webpage. You use or follow these links at your own risk and Magentum is not responsible for any damages or losses incurred or suffered by you arising out of or in connection with your use of the link. Magentum is not a party to any contractual arrangements entered into between you and the provider of the external website unless otherwise expressly specified or agreed by Magentum.

Please be mindful that when you click on a link and leave our website you will be subject to the terms of use and privacy policies of the other website that you are going to visit.

We receive the right to revise, change, or modify this Privacy Policy Statement from time to time at our sole discretion by updating this Privacy Policy Statement, posting or by inserting notices located on particular pages at this Website to that effect. Please remember to visit this page from time to time to review any amendments to the above Privacy Policy Statement and their effect on your use of this Website. Your continued use of this Website implies your acceptance to such amendments.

This Privacy Policy Statement shall be governed by and construed in accordance with the laws of Hong Kong, Special Administrative Region of the People’s Republic of China.

All services provided by us are subject to these T&Cs except where explicitly varied in writing and agreed by us.

Definitions

Client / you / your means the person who has requested us to provide services, has agreed to pay for services or has previously remitted payment for Services (and where persons are provided services jointly, each shall be a client on a joint and several liability basis)

Person shall include any individual, company or other entity incorporated or unincorporated, so far as the context admits.

Entity means any company, trust, foundation, partnership or other legal entity to which we provide services for or on behalf of you or at your request, or arrange services provided by third party providers, and agents acting on our behalf for or on behalf of you or at your request.

Services means any services provided by us to you or services or services provided by third party providers, agents, and subcontractors acting on our behalf to you, pursuant to and in accordance with these T&Cs.

Our Services

Your specific requirements will be discussed, and services or advice will be provided by us to you as agreed and outlined in our engagement letter provided to you prior to provision of Services. If you are expecting us, or would like us, to perform any services in addition to those we have recorded or described, it is important to let us know. We reserve the right not to supply services at our sole discretion.

We will not accept responsibility if you act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid in the light of any change in the law, or in your circumstances.

We will accept no liability for losses arising from changes in the law, or the interpretation thereof that are first published after the date on which the advice is given.

Reliance on advice

We will endeavour to record all advice on important matters in writing. Advice given orally is not intended to be relied upon unless confirmed in writing. Therefore, if we provide oral advice (for example during the course of a meeting or a telephone conversation) and you wish to be able to rely on that advice, you must ask for the advice to be confirmed by us in writing.

Period of retainer

This retainer will start when we receive your implicit or explicit acceptance of the terms set out in this letter.

Our retainer will continue until terminated by either of us giving not less than 21 days’ notice in writing to the other party, except where you fail to cooperate with us or we have reason to believe that you have provided us with misleading information, in which case we may terminate this agreement immediately. Termination will be without prejudice to any rights that may have accrued to either of us prior to termination.

Should we resign, or be requested to resign, we will normally issue a disengagement letter to ensure that our respective responsibilities are clear. In any event, we will endeavour to agree with you the arrangements for the completion of work in progress at that time, unless we are required for legal or regulatory reasons to cease work immediately. In that event, we shall not be required to carry out further work and shall not be responsible or liable for any consequences arising from termination.

Should we have no contact with you for a period of 90 days or more we may issue a disengagement letter to your last known address and hence cease to act.

Information and Documentation

You agree to provide us with any information, documentation, or other assistance which we reasonably require in order to provide our Services or Advice.

No information, documentation or advice provided by us shall be disclosed by you to any third parties without our prior written agreement. You may make copies of documentation for your own internal use.

We will keep our file for seven years after termination of the Services and may then destroy our files. If you do not ask for or retrieve any of your papers within that period, we have your authority to destroy them.

All physical or electronic correspondence and other information in our possession or control which has been generated for our internal purposes or is addressed to us shall be our sole property.

We retain all ownership rights in all intellectual property of any kind created by us for you during the course of carrying out this engagement, save where the law specifically provides otherwise.

Please note that we rely upon you to provide us with, or procure the provision of, accurate and complete information and assistance promptly. And to advise us as soon as possible if anything occurs that renders information previously provided to us incorrect, inaccurate, or incomplete.

This engagement letter, and any documents referred to in it, constitute the entire agreement and understanding between us, and supersedes any previous agreement between us, relating to their subject matter.

If any provision of this engagement letter shall be found by any court or administrative  body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect its other provisions, which shall remain in full force and effect.

Use of your Information

A copy of our Privacy Statement can be found on our website.

Client identification

Under the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap. 615) (“Anti-Money Laundering Ordinance”), we will need to be satisfied that we have sufficient proof of the identity of our clients and will also need to obtain information on the nature, purpose, and source of funding for the transaction to be undertaken by us. More detailed information may be required for more complex or larger transactions.

A list of information and documents required by us for the purpose of compliance with the relevant legislations is sent to you separately or along with the covering letter which accompanies this document.

By engaging us, you covenant that funds provided to us for payment of our fees or otherwise in connection with the subject matter of our engagement, are not (wholly or partly, directly or indirectly) the proceeds of (or connected in any way to) a criminal offence, organized crime, drug trafficking or terrorist act.

If we do not obtain the required information and documents from you within a reasonable time or we are not satisfied that the information and documents provided by you are sufficient, we may delay commencing work, decline or cease to act unless and until all required information and documents are provided to our satisfaction and in satisfaction of the legal requirements.

We have a duty under the Anti-Money Laundering Ordinance to report to the authorities including the Hong Kong Police, the Hong Kong Customs & Excise Service, the Hong Kong Immigration Service or the Independent Commission Against Corruption if we know or suspect, or have reasonable grounds to suspect, that any person is engaged in any serious crime or handling the proceeds of crime or that any property constitutes terrorist property. By accepting the terms of this agreement, you agree that we may make such notification to governmental authorities as we consider appropriate for the purposes of complying with such legislation.

Disclosure

We may be obliged to take certain disclosures to the US or UK tax authorities in relation to the Company or you in accordance with our obligations under the Agreement between the Government of the United States of America and the Government of Jersey to Improve International Tax Compliance and to Implement FATCA and the Agreement between the government of the United Kingdom of Great Britain and Northern Ireland and the government of Jersey to improve international tax compliance and will comply with such obligations. 

Confidentiality

Our discussions and related correspondence, and any other documents or Information that you, or others acting on your behalf, may provide to us, will be confidential, and we will not disclose them to any other party, or use them for any other or collateral purpose, without your consent, unless the information in question Is already in the public domain (other than by a breach of this requirement), or we are required by law, by regulation or by order of a Court of competent jurisdiction, to do so.

We may, on occasions, subcontract work on your affairs to other tax or accounting professionals. Any sub-contractors engaged shall be bound by our client confidentiality terms.

Due Diligence

Prior to providing Services and from time to time, we are required by law to have certain due diligence information in place. You shall be obliged to disclose or procure the disclosure to us of any and all information that we may consider necessary or desirable so that we may meet those legal obligations. Where we, at our sole discretion, are not satisfied with the information provided then we will decline to supply the Services further or at all.

Your Confirmation

You confirm that:

1. All payments of funds have not originated and will not originate from activities or transactions which constitute a criminal offence in Hong Kong, or which, if carried out in Hong Kong would be such an offence, the receipt, ownership, or control of which would be such an offence.
2. You are not acting as nominee for any other person.
3. Except as previously disclosed in writing to us, neither you nor any business entity of which you have been an officer, shareholder, or manager have ever:
4. Been convicted of any offence other than a minor traffic offence;
5. Been adjudged bankrupt insolvent or otherwise unable to pay debts when they fall due;
6. Been the subject of an investigation by a governmental, professional or other regulatory or statutory body; - Made any compromise or arrangement with creditors.
7. You are not currently the subject of legal proceedings other than those already disclosed to us in writing.
8. All information provided to us by you is and will be correct, accurate and complete with no relevant omissions and any material changes to such information will promptly be reported to us.
9. You will take all reasonable steps to provide us with information which will assist us in providing the Services and/or complying with the laws to which Hong Kong is subject.

Instructions/Recommendations/Requests

We will consider instructions or requests to be your instructions or requests if they are from you or your authorised agent (or, in respect of the authorised controller or beneficiary) or such person as we reasonably believe to be any of the stated persons. We will also consider a communication by us with any such person to be a communication with you.

Where persons are provided services jointly, the previous paragraph applies to each of you by default, unless and until any of you instructs us only to accept instructions or request from a specified person. If any of the persons to whom Services are provided jointly, dies, the survivor(s) alone shall be the Client.

Client Account Facilities

We may from time to time hold money on your behalf. Such funds held in trust will be placed within the client bank account segregated from the firm’s fund, will remain your property but subject to our normal bank controls.

Fees, Expenses, and Billing

A relevant scale of fees will be provided to you prior to provision of Services.

We will charge on an agreed fee basis to be agreed upon instruction and otherwise on a time basis. Our rates are reviewed annually, and we will advise you in writing as and when they are changed.

Urgent transactions which require the rescheduling of other client work, or which require us to work outside normal office hours, may result in a reasonable uplift of our hourly charge out rates.

Our fees for other ad hoc and advisory work may depend not only upon the time spent on your affairs, but also on the level of skill and responsibility involved, on and the importance and value of the advice that we provide, as well as the level of risk.

If we provide you with an estimate of our fees for any specific work, then the estimate will not be contractually binding unless we explicitly state that that will be the case.

Where requested, we may indicate a fixed fee for the provision of specific services or an indicative range of fees for a particular assignment. It is not our practice to identify fixed fees for more than a year ahead as such fee quotes need to be reviewed in the light of events. If it becomes apparent to us, due to unforeseen circumstances, that a fee quote is inadequate, we reserve the right to notify you of a revised figure or range and to seek your agreement thereto.

In some cases, you may be entitled to assistance with your professional fees, particularly in relation to any investigation into your tax affairs by the Inland Revenue Department of Hong Kong. Assistance may be provided through insurance policies you hold, or via membership of a professional or trade body. Other than where such insurance was arranged through us you will need to advise us of any such insurance cover that you have. You will remain liable for our fees regardless of whether all or part are liable to be paid by your insurers.

We will bill quarterly, immediately following the end of the calendar quarter, or upon completion of the assignment, if sooner. Our invoices are due for payment within 14 days of issue.

Unless otherwise agreed to the contrary our fees do not include the costs of any third party, counsel or other professional fees.

Termination/Transfer fees apply where a service is brought to an end or transferred to another service provider. Such fees must be settled prior to the transfer or closure of the Service.

Settlement of Fees

Any fees and/or disbursements payable to us shall be payable on presentation to you of our fee note.

We reserve the right to charge interest on late paid invoices at the rate of 3%. We also reserve the right to suspend our services or to cease to act for you on giving written notice if payment of any fees is unduly delayed. We intend to exercise these rights only where it is fair and reasonable to do so.

If you do not accept that an invoiced fee is fair and reasonable you must notify us within 21 days of receipt, failing which you will be deemed to have accepted that payment is due.

If a client trust, estate or other entity is unable or unwilling to settle our fees we reserve the right to seek payment from the individual giving us instructions on behalf of the client, and you agree that we shall be entitled to enforce any sums due against the Group Company or individual nominated to act for you.

Insofar as we are permitted to so by law or professional guidelines, we reserve the right to exercise a lien over all funds, documents and records in our possession relating to all engagements for you until all outstanding fees and disbursements are paid in full.

We may decline to act further in any matters then being handled for you until all outstanding fees and disbursements have been paid, and we reserve the right to resign from offices held in your entity. We shall have no liability where such actions result in an entity being struck off or otherwise prejudiced or incurring losses.

Commissions and other benefits

In some circumstances we may receive commissions or other benefits for introductions to other professionals or in respect of transactions which we arrange for you. Where this happens, we will notify you in writing of the amount and terms of payment and receipt of any such commissions or benefits. The same will apply where the payment is made to, or the transactions are arranged by a person or business connected with ours. The fees you would otherwise pay will be reduced by the amount of those commissions or benefits. 

Conflicts of interest

We confirm that we are aware of no conflicts of interest that would prevent us from properly carrying out your instructions. Should we become aware of any such conflict we shall, of course, let you know you immediately.

If there is a conflict of interest that is capable of being addressed successfully by the adoption of suitable safeguards to protect your interests then we will adopt those safeguards, provided we have your informed consent.

Subject to that, we reserve the right to act for other clients whose interests are not the same as, or may be averse to, yours subject of course to the obligations of confidentiality referred to above.

Tax Obligation

You have a legal responsibility to retain documents and records relevant to your tax affairs. During the course of our work, we may collect information from you and others relevant to your tax affairs. We will return any original documents to you if requested. Documents and records relevant to your tax affairs are required by law to be retained as follows:

Section 51C of the Inland Revenue Ordinance requires every person carrying on a trade, profession or business in Hong Kong to keep sufficient records in the English or Chinese language of his/her income and expenditure to enable the assessable profits to be readily ascertained. Such records shall be retained for a period of not less than 7 years.

Whilst certain documents may legally belong to you, we may destroy correspondence and other papers that we store, electronically or otherwise, which are more than 7 years old. You must tell us if you require the return or retention of any specific documents for a longer period.

Electronic and other communication

Unless you instruct us otherwise we may, where appropriate, communicate with you and with third parties via e-mail, or by other electronic means. The recipient is responsible for virus checking emails and any attachments.

With electronic communication there is a risk of non-receipt, delayed receipt, inadvertent misdirection or interception by third parties. We use virus-scanning software to reduce the risk of viruses and similar damaging items being transmitted through emails or electronic storage devices. However electronic communication is not totally secure and we cannot be held responsible for damage or loss caused by viruses nor for communications which are corrupted or altered after despatch. Nor can we accept any liability for problems or accidental errors relating to this means of communication especially in relation to commercially sensitive material. These are risks you must bear in return for greater efficiency and lower costs. If you do not wish to accept these risks please let us know and we will communicate by paper mail, other than where electronic submission is mandatory.

Any communication by us with you sent through the post or DX system is deemed to arrive at your postal address two working days after the day that the document was sent.

Limitation of liability

We will provide our services with reasonable care and skill. Our liability to you is limited  to losses, damages, costs and expenses caused by our negligence or wilful default.

We will not be liable if such losses, penalties, surcharges, interest or additional tax liabilities are due to the acts or omissions of any other person or due to the provision to us of incomplete, misleading or false information or if they are due to a failure to act on our advice or a failure to provide us with relevant information.

We will not be liable to you for any delay or failure to perform our obligations under this engagement letter if the delay or failure is caused by circumstances outside our reasonable control.

We will not be responsible or liable for any loss, damage or expense incurred or sustained if information material to the service we are providing is withheld or concealed from us or misrepresented to us. This applies equally to fraudulent acts, misrepresentation or wilful default on the part of any party to the transaction and their directors, officers, employees, agents or advisers. This exclusion shall not apply where such misrepresentation, withholding or concealment is or should (in carrying out the procedures which we have agreed to perform with reasonable care and skill) have been evident to us without further enquiry.

Indemnity for unauthorised disclosure

You agree to indemnify us and our agents in respect of any claim (including any claim for negligence) arising out of any unauthorised disclosure by you or by any person for whom you are responsible of our advice and opinions, whether in writing or otherwise. This indemnity will extend to the cost of defending any such claim, including payment at our usual rates for the time that we spend in defending it.

Limitation of third-party rights

The advice and information we provide to you as part of our service is for your sole use and not for any third party to whom you may communicate it unless we have expressly agreed in the engagement letter that a specified third party may rely on our work. We accept no responsibility to third parties, including any group company to whom the engagement letter is not addressed, for any advice, information or material produced as part of our work for you which you make available to them. Unless expressly stated otherwise, the Agreement does not give rise to any rights under the Contracts (Rights of Third Parties) Ordinance to enforce any term of the Agreement.

Limitation of aggregate liability

The aggregate liability of this company, its director’s agents and employees to all persons to whom the engagement letter is addressed, and any other person that we have agreed with you may rely on our work, shall be limited to HK$ 20,000,000 whether claims arise in contract, tort or otherwise.

By signing agreement to this engagement letter you agree that you have given proper consideration to this limit and accept that it is reasonable in all the circumstances. If you do not wish to accept it you should contact us to discuss it before signing the engagement letter.

Professional rules and statutory obligations

We will observe and act in accordance with the bye-laws, regulations and ethical guidelines of the Taxation Institute of Hong Kong and the chartered Institute of Taxation and will accept instructions to act for you on this basis.

In particular you give us the authority to correct errors made by the Inland Revenue Department of Hong Kong where we become aware of them. We will not be liable for any loss, damage or cost arising from our compliance with statutory or regulatory obligations.

Complaints and dispute resolution

We are committed to providing you with a high-quality service that is both efficient and effective. We are also committed to resolving any disputes that might arise between us by non-adversarial means, if at all possible.

If you feel unhappy about any aspect of our service and are unable to resolve matters to your satisfaction with Natalie M. Smith, or feel uncomfortable for any reason raising the matter with her, please address your queries and/or claims in writing to the Directors of Lutea (Hong Kong) Limited , at 17/F LKF 29 29 Wyndham Street Central Hong Kong; email info@magentum.hk.

If matters remain unresolved 28 days after you have first contacted us, you agree that we should seek to resolve our differences by mediation before either party is free to take Court proceedings, or to make a complaint to any professional body. The mediator will be agreed between us or, if we cannot agree within 14 days, shall be nominated by the President for the time being (failing whom the Vice President) of the Chartered Institute of Arbitrators.

If the matter has not been resolved within 28 days from the commencement of the mediation either party may take such further steps (including complaint to any professional body) that they think fit to protect their interests. The mediation will be regarded as commencing on the first occasion all the parties to the dispute and the duly appointed mediator first meet together.

Termination

We can terminate this engagement immediately if:

1. We reasonably suspect that you have given us false information;
2. We reasonably suspect that the Services are being used for an illegal purpose;
3. You behave in a threatening or violent manner towards our staff; or
4. You or an entity respectively have not settled our fee notes within 60 days following presentation to you.

We can also terminate this engagement by giving you not less than 60 days’ notice.

You can also terminate this engagement at any time for any reason if:

1. You have given us written notice that you wish to do so; and
2. You have paid the applicable Termination/Transfer fees; and
3. We have received any money you and your entity owe us.

Your liability to pay our fees and/or disbursements up to and including the date of termination shall survive termination. While such money is owing to us, we are entitled to keep all assets and papers related to or owned by you or your entity.

No fee paid or due shall be apportioned as to time and shall not be refundable.

Governing law and forum

This engagement letter is governed by, and should be construed according to, Hong Kong Law.

Subject to clause 21, we both agree to submit to the jurisdiction of the Hong Kong courts, and irrevocably to waive any right to object to an action being brought in those Courts, to claim that the action has been brought in an inappropriate forum, or to claim that those Courts do not have jurisdiction.

Contacting us

Lutea (Hong Kong) Limited may be contacted during normal office hours, from 9:00 am to 5:30 pm Hong Kong time, during normal working days in Hong Kong, in the following ways:

By Post or Courier: 17/F LKF 29 29 Wyndham Street Central Hong Kong

By email: info@magentum.hk

By Telephone: +852 25376369

Client Acceptance

If you require further information or clarification, before proceeding, please contact Natalie M. Smith. Otherwise, please complete and sign before a witness our client take on form which includes confirmation that you agree to the terms of business of Lutea (Hong Kong) Limited.