An MTF Operator or OTF Operator must not introduce a liquidity incentive scheme unless
(a) participation of such a scheme is limited to members or any other Persons where:
(i) the MTF Operator or OTF Operator has undertaken due diligence to ensure that the Person is of sufficient good repute and has adequate competencies and organisational arrangements; and
(ii) the Person has agreed in writing to comply with the MTF Operator or OTF Operator's operating rules so far as those rules are applicable to that Person's activities; and
(b) the MTF Operator or OTF Operator has obtained the prior approval of the Regulator.