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8.—(1) Where the Committee has appointed an investment manager it must keep his performance under review.
(2) At least once every three months the Committee must review the investments the investment manager has made.
(3) Periodically the Committee must consider whether or not to retain the investment manager.
(4) In reviewing an investment manager’s decisions and appointment, the Committee must take proper advice—
(a)if regulation 7(5)(a) applies, about the variety of the investments he has made, and
(b)about the suitability of those investments for the fund generally and as investments of their type.
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