Registration, or the renewal of the registration, of a person under this Part does not constitute a warranty as to the fitness or suitability of that person to act as a registered administrator, and the Board -
(a) is not liable in respect of any losses incurred by a trustee resulting from the appointment of a particular registered administrator, and
(b) has no duty to any trustee or any other person regarding the performance by a registered administrator of the core administration functions.