operator access, it may, as an exceptional measure and in the decision referred to in the first paragraph of Article 101 of this Act, impose an obligation on a vertically integrated undertaking to place activities relating to the provision of operator access in an independently operating business entity. This business entity shall supply operator access to all undertakings, including to other business entities within the vertically integrated undertaking, on the same timescale, terms and conditions, including those relating to price and service levels, and by means of the same systems and processes. (2) Where the Agency intends to impose an obligation of functional separation under the first paragraph of this Article, it may do so only in accordance with the procedure referred to in the third paragraph of Article 101 of this Act. It must therefore submit a draft that includes: - evidence justifying the Agency’s conclusions; - a reasoned assessment that there is little or no prospect of effective and sustained infrastructure-based competition within a reasonable timeframe; - an analysis of the expected impact on regulation of the market, on the undertaking, including on the workforce of the independent entity and on the electronic communications sector as a whole, and on incentives to invest in the sector as a whole, particularly with regard to the need to ensure social and territorial cohesion, and on interested parties, including, in particular, the expected impact on competition and any potential effects on consumers; - an analysis of the reasons why the obligation of functional separation would be the most efficient means of enforcing remedies aimed at addressing the competition problems/market failures identified. (3) The draft measure must include the following elements: - the precise nature and level of separation, specifying in particular the legal status of the separate business entity; - an identification of the assets of the separate business entity, and the products or services to be supplied by that entity; - the governance arrangements to ensure the independence of the staff employed by the separate business entity, and the corresponding incentive structure; - rules for ensuring compliance with the obligations; - rules for ensuring transparency of operational procedures, in particular towards other interested parties; - a monitoring programme to ensure compliance, including the publication of an annual report. (4) Following the Commission’s approval referred to in the third paragraph of Article 101 of this Act, the Agency shall conduct a coordinated analysis of the relevant markets related to the access network, in accordance with the procedure referred to in Article 100 of this Act. On the basis of its assessment, the Agency shall impose, maintain, amend or withdraw obligations in accordance with the seventh paragraph of Article 101 of this Act. (5) The Agency may impose on an undertaking on which functional separation has been imposed any other obligation referred to in Articles 102 to 106 or the second obligation referred to in the third paragraph of Article 101 of this Act for any relevant market referred to in Article 99 of this Act on which it has been designated as having significant market power in accordance with Article 101 of this Act. Article 109 (voluntary separation by a vertically integrated undertaking) (1) An undertaking which has been designated as having significant market power in one or several relevant markets must notify the Agency at least six months in advance of the intention to transfer its local access network assets or a substantial part thereof to a separate