(1) The Bank may delegate to an approved stock exchange, subject to such conditions as the Bank specifies, any of the functions that it is obliged or authorised to perform under Irish prospectus law or under the Directive other than the following functions -
(a) the approval of prospectuses and supplements pursuant to Part 7 (but not any act involving the scrutiny of prospectuses or supplements),
(b) the issuing of a certificate referred to in Regulation 57,
(c) functions under Regulations 40, 41, 51(2), 56(1), 59(2), 79, 85, 88, 89 and 90 or this Regulation,
(2) Any person to whom functions are delegated under paragraph (1) shall have by virtue of the delegation, all such powers as are necessary to perform those functions.
(3) Any delegation of functions shall be in writing and specify the functions to be performed and the conditions subject to which they are to be performed.
(4) The conditions referred to in paragraph (3) shall include a provision obliging t