An appointment of a professional adviser1 must be made in writing ('the notice of appointment') and must specify the date the appointment is due to take effect, to whom the professional adviser is to report and from whom the professional adviser is to take instructions2. A person appointed as a professional adviser must acknowledge in writing receipt of the notice of appointment within one month of receipt and:
(1) in the case of a fund manager3, or a person carrying out functions in relation to the custody of cash, securities and other documents of title to scheme assets4, who
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