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The Association is to meet on Friday to consider rerunning the process.
A Cambridge University graduate Miss Frazer is a barrister who specialises in commercial law.
The three women and a man face an Open Primary on December 7.
Entrepreneur wins out in the hotly contested selection race.
Some hotly tipped names fail to make the cut, as three women and one man reach the final round.
Find out who the runners and riders are to succeed Richard Ottaway.