Arrangements and Resources

1.

(a) An approved operator must have adequate arrangements and resources for the effective monitoring and enforcement of compliance with the rules of the operator or, as respects monitoring, arrangements providing for that function to be performed on the operator's behalf (and without affecting the operator's responsibility) by another body or person who is able and willing to perform it.

(b) The operator's business and corporate structure must be so organised to be capable of being supervised under the regulations to the satisfaction of the Minister.

Financial Resources

2. An approved operator must have financial resources sufficient for the proper performance of the functions of an operator.

Promotion and Maintenance of Standards

3. An approved operator must be able and willing to promote and maintain high standards of integrity and fair dealing in the operation of the relevant system and to co-operate, by the sharing of information or otherwise, with the Minister and any other authority, body or person having responsibility for the supervision or regulation of investment business or other financial services.

Operation of the Relevant System