(1) Where a fund administrator outsources administration services, it shall ensure compliance with the following:
(a) the outsourcing shall not alter the fund administrator's relationship with, and obligations towards, its clients;
(b) the fund administrator shall retain full and unrestricted responsibility under, and the ability to comply with, all supervisory and regulatory requirements;
(c) the outsourcing shall not impair the ability of the Bank to supervise the fund administrator;
(d) the fund administrator shall take special care when entering into and managing outsourcing agreements in order to ensure that it can comply with the requirements under this Chapter and all relevant legal obligations under the Data Protection Acts 1988 and 2003;
(e) the outsourcing shall not affect the ability of senior management of the fund administrator to manage and monitor the fund administrator's business;
(f) the fund administrator shall retain adequate core competence at a senior operatio