(1) A depositary shall not delegate to a third party the duties imposed upon a depositary by subparagraphs (a) and (b) and such duties shall be carried out in the State:
(a) paragraph (2)(c) and paragraph (3);
(b) Regulation 34 of the UCITS Regulations.
(2) A depositary shall establish and implement written procedures for the purpose of dealing with any breach by the relevant UCITS or by the depositary of any of the following:
(a) the UCITS Regulations;
(b) any requirement that the Bank imposes on the relevant UCITS or on the depositary, including these Regulations;
(c) any provision of the prospectus of the relevant UCITS.
(3) A depositary shall notify the Bank promptly of any material breach by the UCITS or by the depositary of any requirement, obligation or document to which paragraph (2) relates.
(4) A depositary shall notify the Bank promptly of any non-material breach by the UCITS or by the depositary of any requirement, obligation or document to which paragraph (2) relates, if t
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