Under the Banking Act (Act No. 59 of 1981, as amended) ("Banking Act") and the related Ordinance for Enforcement of the Banking Act, there is a requirement to notify the regulator when some types of business, such as agency or intermediary for contracts regarding debt guarantees or the purchase of securities, are entrusted to another person. However, this does not apply to the outsourcing of cloud-based data storage, system development and maintenance, and other services used for the internal operations of financial institutions.