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The Local Authorities (Contracting Out of Investment Functions) Order 1996
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Making investments
8. In relation to any function which involves the making of investments, or entering into a contract in the making of any investment, a contractor shall have regard to —
(a)the need for diversification of investments of sums made available to him by the authority for investment on the authority’s behalf; and
(b)the suitability of investments or any description of investment which he proposes to make and of any investment proposed as an investment of that description.
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