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Art.22 Responsibility and Obligations of the Members of Central Depository AD  
     
 
1. Members of the Central Depository AD bear the whole responsibility for their legal and actual actions/omissions, including in respect of the data they submit to the Central Depository AD. While performing their activities, the members of Central Depository AD shall protect the reputation of the Central Depository AD.

2. Central Depository AD shall not be liable for the conformity of its members’ actions/ omissions under p.1 with the law. Central Depository AD shall not be liable for any legal or actual relationships between the members and their clients, between the members and third parties including in case of transfer of securities or other instruments.

3. Members shall be obliged to notify their clients about the requisites under p.2. This shall be certified in writing upon signing of the agreement between the member and its client.

4. Obligations pursuant to p.p.1 – 3 are applicable to the members of the Central Depository in their capacity of investment intermediaries as well as in their capacity of registration agents.

5. In case of non-observance of the requirements under p.1-4 Central Depository AD can take the measures provided in these Rules and Regulations including the measures under Art17.