Article 22 3

(a)

ensure that the SIPS operator can comply with its obligations arising from this Regulation, other applicable laws, regulatory requirements and contracts;

(b)

include a clear and precise description of the outsourced functions, operations and/or services, of the functions of the outsourcing service provider and also of the allocation of the rights and obligations of the parties to the contractual arrangements;

(c)

ensure the rights of the relevant competent authority to exercise its powers under Article 29(1), point (a), of this Regulation and, in the case of outsourcing related to the SIPS critical functions, operations and/or services as identified in Article 10(4), also ensure the rights of the relevant competent authority to exercise its powers under Article 29(1), points (b) and (c), of this Regulation.

(d)

specify whether sub-outsourcing of the SIPS critical functions, operations and/or services is permitted and the conditions that would apply in such cases, and which shall ensure the compliance of the SIPS operator with the requirements of this Regulation;

(e)

ensure the right of the SIPS operator to terminate the contractual arrangement in case of significant breaches of laws, regulations or contractual terms and if the compliance with the requirements under this Article cannot be ensured.