(1) The Bank shall draw up prudential rules which management companies, with regard to the activity of management of UCITS authorised according to these Regulations, shall observe at all times.
(2) In particular, the Bank having regard also to the nature of the UCITS managed by a management company, shall require that each such company -
(a) has sound administrative and accounting procedures, control and safeguard arrangements for electronic data processing and adequate internal control mechanisms including, in particular, rules for personal transactions by its employees or for the holding or management of investments in financial instruments in order to invest on its own funds and ensuring, inter alia, that each transaction involving the fund may be reconstructed according to its origin, the parties to it, its nature, and the time and place at which it was effected and that the assets of the unit trusts, common contractual funds or of the investment companies managed by the management
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