S.L. 514.3 ст. 18Independence of the custodian from management.

In the exercise of its functions, duties and responsibilities, the custodian shall act independently of the retirement scheme or retirement fund and, or of the investment manager of such retirement scheme or retirement fund and shall act solely in the interest of the holders of units or of members, beneficiaries or investors in the retirement scheme or retirement fund and of the retirement scheme or retirement fund itself: Provided that the custodian shall act upon the instructions of the retirement scheme or retirement fund and, or of any other person responsible for the operation, administration and management of the retirement scheme or retirement fund respectively, and, or of the investment manager of such retirement scheme or retirement fund, and the retirement scheme or retirement fund, the investment manager of such retirement scheme or retirement fund and any other person responsible for the operation, administration and management of the retirement scheme or retirement fund respectively shall act upon the instructions of the custodian only to the extent required by the conditions of its licence, such other requirements as may be laid down by the competent authority and by the conditions of the deed or other instrument establishing the retirement scheme or retirement fund.