Without prejudice to the Licensed Person’s obligation to appoint and register an individual to undertake each of the Registered Employment Positions in accordance with Article (3-2-5) of this Module, a Licensed Person may outsource specific duties related to some of the Registered Employment Positions as stipulated by the Authority, provided that the Licensed Person shall still be liable for any duties performed by the external entity. As an exception from the previous paragraph, it is not permitted to assign an external entity to undertake the job of the Chief Executive Officer, Senior Executive, Financial Manager and Representative of Securities Activities.