79Interim managerS
(1)During a moratorium the Regulator may appoint, or require the registered social landlord to appoint, an interim manager—
(a)to manage its housing activities or its financial and other affairs generally, or
(b)to manage particular aspects of those activities or affairs.
(2)It is for the Regulator to determine the terms on which an interim manager is to be appointed (including as to period of appointment and remuneration and expenses).
(3)An interim manager's appointment ends with the earliest of the following—
(a)any date specified in the appointment,
(b)the end of the moratorium, or
(c)the agreement of proposals under section 82.
(4)An interim manager has—
(a)general powers to do anything required to perform the interim manager's functions (including power to enter into agreements or do anything else which the registered social landlord has power to do), and
(b)such specific powers as the Regulator may specify.
(5)But an interim manager—
(a)must comply with any direction by the Regulator about the performance of the interim manager's functions (and may be removed on failure to so comply), and
(b)may not dispose of land.
(6)An interim manager acts as the registered social landlord's agent and is accordingly not personally liable on an agreement entered into as interim manager.
(7)Anyone dealing with a manager in good faith and for value need not inquire whether the interim manager is acting within the powers conferred by virtue of this section.
Commencement Information
I1S. 79 in force at 1.4.2012 by S.S.I. 2012/39, art. 2, Sch. 1 (with Sch. 2)