Paragraph 4

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch.3, para.2(k) rev.in pt. by Common Investment 1999 para.8(e)
Sch.3, para.4(a) amended by Common Investment 1999 para.8(f)
Sch 3 am (heading am) by Common Investment (Closure of High Yield Fund) 2003 para 7(1), (11)(a)
Sch 3, para 1 am by Common Investment (Closure of High Yield Fund) 2003 para 7(1), (11)(b)
Sch 3, para 2 am by Common Investment (Closure of High Yield Fund) 2003 para 7(1), (11)(a), (c)

Where the appointment of an investment manager ceases he shall—

(a)

without delay complete all transactions in progres at that time;

(b)

without delay surrender to his successor or to such person as the Lord Chancellor may determine all money, securities and other assets of the fund in his care and any dividends, income and other distributions relating thereto; and

(c)

until such completion or surrender has taken place comply with any provision and carry out any duty to which he would have been subject as investment manager.