43. Providing Custody

(1) Each of the following activities —
(a) safeguarding of Financial Instruments or other assets belonging to another;
(b) in the case of a Fund, safeguarding Fund Property;
(c) Acting as a Central Securities Depository; or
(d) administering the assets, Financial Instruments or Fund Property for the purpose of sub-paragraphs (a) and (b);
is a specified kind of activity.
(2) For the purposes of this paragraph —
(a) it is immaterial that title to the assets is held in uncertificated form; and
(b) it is immaterial that the assets may be transferred to another person, subject to a commitment that they will be replaced by equivalent assets at some future date or when so requested by the person to whom they belong.