Limited assertion of liens and rights of retention

(1) Where the custodian entrusts the securities to a third party, the third party is deemed to know that the securities do not belong to the custodian. The third party may assert a lien or right of retention on the securities only for claims that have arisen in connection with those securities, or for which those securities are to serve as security under the particular transaction concluded between the custodian and the third party in relation to them.
(2) Paragraph 1 does not apply where the custodian expressly informs the third party, in text form and for the particular transaction, that it is the owner of the securities.
(3) Where a custodian that does not conduct banking business entrusts securities to a third party, paragraph 1 does not apply. Where the custodian is not the owner of the securities, it must inform the third party of this; in that case paragraph 1, second sentence applies.