Regulation 4 Operation of the system
Subject to the consent of the Secretary of State being given under regulation 5, and in addition to any other duties imposed by these Regulations, it shall, to the extent that the Operator exercises relevant functions under these Regulations, be the duty of the Operator, owed to the Secretary of State:
to,operate the Operator’s part of the system;
to admit and supervise participants;
to maintain such computer-based facilities as are reasonably necessary to enable the Operator to comply with its functions under these Regulations;
to ensure that at all times the conditions specified in regulation 5(1)(b)(i) to (iii) are satisfied;
to co-operate, by the sharing of information and otherwise, with the Secretary of State and any other body or authority having responsibility for the supervision of investment business and other financial services; and
to have regard, in performing its functions under these Regulations, to the protection of investors.