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Article 322-35 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/322-35/20180309/notes

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.