The Draft Proposed Article establishes a regulatory framework imposing defined duties on regulated entities, specifying scope, key definitions and objectives. It requires proportionate risk management, documented policies, regular assessments, retention of records and designated responsible persons. Obligations include preventive controls, incident detection and mandatory reporting timelines, together with duties to cooperate with a designated supervisory authority and to provide information on compliance measures.

The Article sets out powers for supervision and enforcement, including entry and inspection, corrective measures, fines and remediation orders, and procedures for appeals. It provides for implementation timelines, transitional arrangements and review provisions to assess effectiveness and update obligations.