material outsourcing, for an
authorised firm, means the outsourcing of a function of such importance that weakness or failure in the exercise of the function would cast serious doubt on—
(a) the firm's ability to comply with—
Regulations, Rules or Principles; or
(ii) any condition, restriction or requirement of its
(b) its financial performance or position; or
(c) its ability to continue its operations.
|Amended by QFCRA RM/2010-07 (as from 1st January 2011)|