S.L. 370.32 Art. 7Termination of the custody agreement.

(1) Without prejudice to any requirements as may be prescribed by the competent authority, a depositary agreement may be terminated by the scheme, by the fund manager, by the depositary or by order of the competent authority: Provided that the fund manager may terminate the depositary agreement in the case where it is a party to the agreement and it has been granted termination rights.

(2) The depositary shall proceed with the conveyance of the assets held for the scheme as stipulated in the depositary agreement or as instructed by the scheme.