1. In addition to the requirements set out in Article 31, where an investment firm outsources functions related to the investment service of portfolio management provided to clients to a service provider located in a third country, that investment firm ensures that the following conditions are satisfied:
(a) the service provider is authorised or registered in its home country to provide that service and is effectively supervised by a competent authority in that third country;
(b) there is an appropriate cooperation agreement between the competent authority of the investment firm and the supervisory authority of the service provider.
2. The cooperation agreement referred to in point (b) of paragraph 1 shall ensure that the competent authorities of the investment firm are able, at least, to:
(a) obtain on request the information necessary to carry out their supervisory tasks pursuant to UK law on markets in financial instruments and Regulation (EU) No 600/2014;
(b) obtain access to the d
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