Article 323-25 into force since 23 April 2021

As regards the custody of the financial instruments and pursuant to Article L. 214-24-8, II of the Monetary and Financial Code, the depositary shall ensure that all those financial instruments that can be registered in a financial instruments account opened in the depositary's books are registered in the depositary's books within segregated accounts in accordance with the principles set out in Article 312-6, opened in the name of the AIF or in the name of the asset management company acting on behalf of the AIF, so that they can be clearly identified as belonging to the AIF.

For the purposes of record keeping of the other assets by the depositary, and pursuant to Article L. 214-24-8, II, 2 of the Monetary and Financial Code, the depositary checks their ownership by the AIF or its asset management company on the basis of information or documents provided by the AIF or its asset management company and, where available, on external evidence.

The terms of application of the two foregoing paragraphs are specified in Articles 88 to 91 of Delegated Regulation (EU) 231/2013 of the Commission of 19 December 2012.

When a specialised financial vehicle acquires receivables by means of the transfer deeds referred to in 2° of V of Article L. 214-169 or in Article L. 313-23 of the Monetary and Financial Code, the custodian shall verify the existence of these receivables on the basis of samples under the conditions defined in Article 323-59-1.