A depositary shall, in accordance with the national law of the State in which the investment company's registered office is situated, be liable to the investment company and the unit-holders for any loss suffered by them as a result of its unjustifiable failure to perform its obligations, or its improper performance of them.
Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 July 2011 - onwards
Article 16
Repealed from 1 July 2011