Neither permits withdrawals in the 12-month fixed term.

Neither permits withdrawals during the term of the deal.

A bank need not permit withdrawals of any funds deposited by means of a postdated check, until the date on the check has occurred.

The offer may be made conditional upon receiving tenders of a minimum number of shares, and it may permit withdrawal of tendered shares prior to the offer's expiration date.

Continuing the above example, that would mean a maximum permitted withdrawal rate for today's drawdown investor of 5.6 per cent compared with 8.4 per cent five years ago.