Article 7 U.K. Capacity to exercise functions as a monitoring organisation

1. An applicant shall demonstrate that it has in place all of the following:

(a) an organisational structure that ensures a proper exercise of the functions of a monitoring organisation;

(b) a due diligence system to be made available to and used by operators;

(c) policies and procedures that allow for the evaluation and improvement of the due diligence system;

(d) procedures and processes to verify the proper use of its due diligence system by operators;

(e) procedures for corrective actions to be taken in a case of a failure by an operator to properly use its due diligence system.

2. In addition to requirements of paragraph 1, an applicant shall demonstrate that it has financial and technical capacity to exercise the functions of a monitoring organisation.