(1) A management company authorised to provide individual portfolio management services shall have in place sound, effective and comprehensive arrangements, strategies and processes to assess and maintain on an ongoing basis the amounts, types and distribution of internal capital that the management company considers adequate to cover the nature and level of risks which the management company may pose to others and to which the management company itself is, or might be, exposed.
(2) The arrangements, strategies and processes referred to in paragraph (1) shall be -
(a) appropriate and proportionate to the nature, scale and complexity of the activities of the management company, and
(b) subject to regular internal review.
(3) A management company authorised to provide individual portfolio management services shall complete and submit an ICAAP questionnaire to the Bank on an annual basis in the format published on the Bank's website.
(4) For the purposes of paragraph (3), "ICAAP" means in
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