[(1) Before appointing a person to act as a temporary manager, the appropriate regulator must be satisfied that the person—
(a) has the qualifications, ability and knowledge to carry out the functions to be given to the temporary manager, and
(b) would not be subject to any conflict of interest as a result of the appointment.
(2) A person may not be appointed to act as a temporary manager for a period longer than one year, but is eligible for re-appointment (or further re-appointment) if subsection 71C(1) continues to apply in relation to the relevant firm or parent undertaking.
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