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Art. 9 – Authorisation for sub-custody

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Art.9

Authorisation for sub-custody

1

A custodian may hold intermediated securities, certificated securities, uncertificated securities and ledger-based securities with a sub-custodian in Switzerland or abroad.32 The account holder's consent is not required.

2

The account holder's express consent is nonetheless required where the foreign sub-custodian is not subject to adequate regulatory supervision.

  1. 32 Amended by No I 9 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Feb. 2021 (AS 2021 33; BBl 2020 233).
Legal act context
SR 957.1 · FISA · Federal act · Federal Act of 3 October 2008 on Intermediated Securities (Federal Intermediated Securities Act, FISA)
Structure path
Chapter 3 Sub-Custody and Availability of Intermediated Securities
Language
English (en)
Data status
2023-01-01

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