(1) A fund administrator shall, at all times, be in a position to demonstrate compliance with its own funds requirement.
(2) A fund administrator shall immediately notify the Bank if any of the following situations arise:
(a) the fund administrator breaches its own funds requirement;
(b) a change in the fund administrator's financial position means that it is likely that the fund administrator will breach its own funds requirement in the future;
(c) the amount by which the fund administrator's own funds exceeds its own funds requirement reduces by 20 per cent.
(3) In relation to paragraphs (2)(a) and (2)(b), the fund administrator shall, at the same time as notifying the Bank, take any necessary steps to rectify its own funds position.