(1) A management company may delegate activities to third parties for the purpose of the more efficient conduct of the company's business provided that:
(a) the Bank is informed in an appropriate manner;
(b) the delegation mandate does not prevent the effectiveness of supervision over the management company, and in particular it must not prevent the management company from acting, or the UCITS from being managed, in the best interests of its investors;
(c) when the delegation concerns investment management, the mandate is only given to undertakings which are authorised or registered for the purpose of asset management and subject to prudential supervision; the delegation must be in accordance with investment-allocation criteria periodically laid down by a management company;
(d) where the mandate concerns investment management and is given to a non-Member State undertaking, cooperation between the Bank and the supervisory authorities of the non-Member State concerned is ensured;