2634651 - SAP Business Connector 4.8, JCO_ERROR_RESOURCE Invalid destination reference encountered

In SAP Business Connector 4.8 the JCo RFC provider initialization fails with following from <sapbc48>/server/log/error.log:

  com.sap.conn.jco.JCoException: (123) JCO_ERROR_FUNCTION_NOT_FOUND: Server repository could not create function template for 'HR_DE_B2A_ELSTER_BBOX'   
   caused by: com.sap.conn.jco.JCoException: (106) JCO_ERROR_RESOURCE: Invalid destination reference encountered (destination is null)
   at com.sap.conn.jco.rt.MiddlewareJavaRfc$JavaRfcServer.dispatchRequest(MiddlewareJavaRfc.java:2740)
   at com.sap.conn.jco.rt.MiddlewareJavaRfc$JavaRfcServer.listen(MiddlewareJavaRfc.java:2224)
   at com.sap.conn.jco.rt.DefaultServerWorker.dispatch(DefaultServerWorker.java:259)
   at com.sap.conn.jco.rt.DefaultServerWorker.loop(DefaultServerWorker.java:322) 
   at com.sap.conn.jco.rt.DefaultServerWorker.run(DefaultServerWorker.java:220)
   at com.wm.util.TimeWrappingProvider$TimeMesuredTask.run(TimeWrappingProvider.java:40)
   at com.wm.pkg.sap.rfc.ListenerThread.run(ListenerThread.java:70)
   Caused by: com.sap.conn.jco.JCoException: (106) JCO_ERROR_RESOURCE: Invalid destination reference encountered (destination is null)
   at com.sap.conn.jco.rt.AbapRepository.queryFunctionTemplate(AbapRepository.java:685)
   at com.sap.conn.jco.rt.AbapRepository.queryFunctionTemplateWithRetry(AbapRepository.java:473)
   at com.sap.conn.jco.rt.AbapRepository.getFunctionTemplate(AbapRepository.java:569) 
   at com.wm.pkg.sap.rfc.ListenerRepository.getFunctionTemplate(ListenerRepository.java:46)
   at com.wm.pkg.sap.rfc.ListenerRepository.getFunction(ListenerRepository.java:112)
   at com.sap.conn.idoc.jco.DefaultJCoIDocServerWorker$IDocDispatcher.getFunction(DefaultJCoIDocServerWorker.java:43)
   at com.sap.conn.jco.rt.DefaultServerWorker.getFunction(DefaultServerWorker.java:159)
   at com.sap.conn.jco.rt.MiddlewareJavaRfc$JavaRfcServer.dispatchRequest(MiddlewareJavaRfc.java:2733)

SAP Business Connector 4.8 with Service Release < 11

SAP Business Connector 4.8, JCO_ERROR_FUNCTION_NOT_FOUND, JCO_ERROR_RESOURCE, SAP BC, BC, Connector, SAPBC, JCO, ERROR_RESOURCE, null, com.sap.conn.jco.JCoException, function template , KBA , BC-MID-BUS , Business Connector , BC-MID-CON-JCO , Java-Connector , Problem