[(1) If the appropriate regulator is satisfied—
(a) in the case of a relevant firm, that the conditions in section 71D(1), (2) and (4) are met in relation to that firm, or
(b) in the case of a parent undertaking which is not a relevant firm, that the conditions in section 71D(1) and (4) are met in relation to that parent undertaking,
the appropriate regulator may appoint a person to act (or one or more persons to act jointly) as a temporary manager of that firm or that parent undertaking.
(2) Where the appropriate regulator makes an appointment under subsection (1) in relation to a parent undertaking which is not a
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