/diy/ - Do It Yourself

Can someone help me understand the point of the double diodes here?
I'm making the schematic from part of a PCB that controls a current sensor.
There's an ASIC that senses the current from the sense winding of a current transformer and then drives power through a compensation winding that's measured with an op amp.

Anyway, this is the push pull circuit from one end of the compensation winding. The ASIC is 5V logic.
I'm assuming if the top ASIC signal went to 5V and the bottom one to ground, Q1 will turn on.

This will saturate Q3 I assume but what will happen at the base of Q3?
The base will remain at a lower voltage than the emitter so it stays on but not lower by a factor of the forward drop of the 2 diodes?

Are the diodes just there to provide some sort of snubbering with the two capacitors?