(1) Where a management company engages an administrator that is established under the laws of and located in a state other than the State, the management company shall include in the delegation agreement with that administrator provisions that have the following effects:
(a) ensuring that the Bank has effective access to data related to the delegated functions of the management company;
(b) ensuring that the Bank has effective access to the business premises of the administrator, where not prohibited by the laws of the jurisdiction in which the administrator is established;
(c) requiring that the administrator co-operates with the Bank in respect of the functions that the management company delegates to the administrator from time-to-time.
(2) Where an administrator is located in another Member State, a management company shall, in the programme of operations that it submits to the Bank specify, and adhere to, any additional record-keeping procedures that the management company establi
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