Section 42: Authorisation of named manager to withdraw from resident’s account
156.Subsection (1) allows the supervisory body to provide a certificate allowing the manager of an authorised establishment to make withdrawals from specified accounts belonging to a resident.
157.Subsections (2) and (3) require that such a certificate be signed by a properly authorised officer of the supervisory body and that it set out the accounts and other funds available to the resident and specify by name an authorised manager.
158.Subsection (4) authorises the manager to make withdrawals from an account specified in the certificate and provides that the bank or other fund holder may allow the manager to do so.