This video shows that i do have the custom depth buffer and stencil working, but unfortunately it is not working on the text render component that i wish it to. The Depth Buffer working is proven when the boat turns red once it lands on the beach. When the character submerges himself underwater you can also see that the Custom Stencil is working on the big rock in front of the player which is also being tinted red by the Custom Depth Buffer. The problem that i am having is that the text render component (displaying ‘dive’ or ‘resurfacing’), which has exactly the same settings as the big rock does, is not being affected by at all by the Custom Depth or Stencil. This is proven as you can see that there is no red showing and the stencil stopping the other underwater type post processing effects will only work on the text when it is in front of the big rock. Any help given would be very much appreciated please! Thank you 
*** RESOLVED *** This issue has been fixed now by enabling ‘allow custom depth writes’ in the transluceny section of the render text component material. Thank you.