(1) An applicant shall comply with the following provisions -
(a) the applicant shall, unless it has satisfied the Board that it intends to provide and is capable of providing such a service itself, enter into a contractual arrangement with one or more investment managers to provide an investment service in respect of its PRSA product or products in accordance with this Part in the event that those products are approved by the Board,
(b) the applicant shall enter into a contractual arrangement with an auditor to provide services for the purposes of section 118 in respect of the applicant's PRSA products in the event that those PRSA products are approved by the Board,
(c) the applicant shall, unless it has satisfied the Board that it intends to provide and is capable of providing such services itself, enter into a contractual arrangement with one or more administrators to provide administration services in respect of its PRSA product or products in accordance with this Part in the event
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