FUNDS 12.12.6

(1) When a Fund Manager or Trustee outsources any function to a Service Provider, it must:
(a) comply with any relevant requirements in Chapter 3 of GEN;
(b) enter into an Outsourcing Agreement which complies with the requirements in APP 1; and
(c) before entering into such agreement, carry out due diligence on the proposed Service Provider to conclude on reasonable grounds that the Person is suitable to perform the relevant functions.
(2) Outsourcing to a Service Provider does not relieve the Fund Manager or Trustee from accountability for the proper conduct of the outsourced activity.