Cap. 376 Art. 8CLiability.

(1) Where financial institutions rely on third parties for the performance of operational functions, those financial institutions shall take reasonable steps to ensure that the requirements of this

Act and any regulations and, or Rules issued thereunder are complied with.

(2) Financial institutions shall remain fully liable for any acts of their employees, or any agent, branch or entity to whom or to which activities may have been outsourced.