PRIV 6.5.2 Outsourcing by Operator

(1) The operator of a scheme may outsource its functions in relation to the scheme in accordance with this part, and not otherwise.

Note The outsourcing provisions of CTRL do not apply in relation to an outsourcing of functions under this part (see CTRL, rule 8.1.1).
(2) However, the operator must not outsource functions if the outsourcing may adversely impact on the Regulatory Authority's ability to supervise the operator's activities.
(3) Also, the operator must not outsource to a person the function of holding documents evidencing title to scheme property unless the person is prohibited under the outsourcing agreement from giving them to a third party without the operator's agreement.

Note Document evidencing title is defined in the glossary.
Amended by QFCRA RM/2012-5 (as from 1st July 2013)
Amended by QFCRA RM/2021-1 (as from 1st July 2021).