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Art. 33. Accounts  
     
 
1. In the securities accounts kept with the Depository are registered all securities marked by separate code, each with its account holder.

2. The Depository shall keep the securities accounts managed by each member in a way that separates the securities accounts of the member from the accounts belonging to other persons with respect to the specific functions of the member.

3. Accounts are administered on proprietary and representative principle. The personal accounts are administered on proprietary principle, respectively client accounts on representative principle.

4. When opening of the accounts administered through representation, the functions performed by the Depository member towards the client may also be specified as follows:

   Investment intermediary;

   Custodian;

   Underwriter;

   Managing company;

   other if required by type of activity;