In applying Rule CIU-1.4.9 above, the CBB will allow 'hub and spoke' arrangements, whereby actual operations of the administrator/custodian are undertaken outside of Bahrain, providing a suitably licensed office is maintained in Bahrain, through which the CBB can access the CIU's records, and providing the overseas operations are undertaken in reputable jurisdictions by regulated entities that belong to the same group as the Bahrain administrator/custodian. Also, Rule CIU-1.4.9 does not prevent the custodian from appointing sub-custodians, providing the custodian retains ultimate responsibility for the CIU's assets, and providing suitable outsourcing arrangements have been put in place (equivalent to the standards applied by the CBB — see for instance Chapter OM-2 in Volume 1 of the CBB Rulebook.