672. Choosing investments.

The trustees of a trust scheme1 must exercise their powers of investment in accordance with regulations2 and in accordance with the following provisions, and any fund manager3 to whom any discretion has been delegated4 must exercise the discretion in accordance with regulations5.

Before investing in any manner6 the trustees must obtain and consider proper advice7 on the question whether the investment is satisfactory having regard to the requirements of regulations so far as relating to the suitability of investments and to the principles contained in the statement of investment principles8. Trustees retaining any investment must determine at what intervals the