Section 26.02 - Determination of Qualifications of Consultant; Review of Application(1)Consultant. The Commission shall determine, for every application for approval, whether the board has a consultant registered as an investment adviser pursuant to the Investment Advisers Act of 1940 ( 15 U.S.C. 80b - 1et seq.) as required by 840 CMR 26.01(2).(2)Review of Application. If the Commission determines that the board has a consultant as required by 840 CMR 26.01(2), the Commission shall review the selection process of the consultant, review the information contained in the application for approval, and review the professional qualifications of the consultant in accordance with 840 CMR 26.03.