Article 322-35 into force since
- Version into force since
When it makes use of a third party, in application of Article 322-33, and apart from cases where it retains the assets corresponding to the securities of its clients in one or more accounts opened with a central depository or issuer, the custody account-keeper shall apply the provisions of Articles 312-8 to 312-10 and 321-93 to 321-96.
The liability of the custody account-keeper to the holder of the securities account shall not be affected by the fact that it makes use of a third party mentioned in Article 322-33.
However, where a custody account-keeper retains, on behalf of a professional client, financial securities issued under foreign law, it may agree on a clause which exempts it totally or partially from its liability to this professional client.
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02