(1) Subject to subsections (2) to (5) and section 64AN, the trustees of a scheme or trust RAC may enter into an arrangement to entrust any activity, including -
(a) a key function, and
(b) the management of that scheme or trust RAC,
whether in whole or in part, to a service provider operating on behalf of the scheme or trust RAC concerned in respect of such activity, key function and management.
(2) Where the trustees referred to in subsection (1) enter into an arrangement referred to in that subsection, in respect of a key function or any other activity referred to in that subsection, the trustees of the scheme or trust RAC concerned shall, notwithstanding that arrangement, be fully responsible for compliance with their obligations under this Act in respect of any such key function or such activity.
(3) Where the trustees referred to in subsection (1) enter into an arrangement referred to in that subsection, in respect of a key function or any other activity referred to in that subsec
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