62. Institutions and payment institutions should ensure that the outsourcing of functions of banking activities [See Article 9 CRD with regard to the prohibition of persons or undertakings other than credit institutions from carrying out the business of taking deposits or other repayable funds from the public.] or payment services, to an extent that the performance of that function requires authorisation or registration by a competent authority in the Member State where they are authorised, to a service provider located in the same or another Member State takes place only if one of the following conditions is met:
a. the service provider is authorised or registered by a competent authority to perform such banking activities or payment services; or
b. the service provider is otherwise allowed to carry out those banking activities or payment services in accordance with the relevant national legal framework.
63. Institutions and payment institutions should ensure that the outsourcing of f
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