Commentary on Sections
Part 2: Registered Social Landlords
Chapter 5- Miscellaneous and General Provisions
Section 83 - Insolvency, etc. of registered social landlord: appointment of interim manager
197.This section inserts a new section 43A into the 1996 Act which gives the Welsh Ministers power to appoint an interim manager to manage a RSLs affairs during a moratorium. Such a moratorium will come into being where any of the steps mentioned in section 41 of the 1996 Act (relating to insolvency etc.) are taken.
198.Subsection (2) of new section 43A of the 1996 Act enables an interim manager to be appointed in relation to the RSL’s affairs generally, or in relation to specific affairs.
199.Subsection (3) requires the appointment to be made on terms and conditions which must be specified in, or determined in accordance with, the appointment.
200.Subsection (4) provides that an interim manager is to have any power specified in the appointment, and any other power in relation to the RSL’s affairs required by the manager for the purposes specified in the appointment. However, subsection (6) provides that an interim manager may not dispose of land or grant security over land.
201.Subsections (7) and (8) enable the Welsh Ministers to give directions to the interim manager and to amend or revoke such directions.
202.Subsection (9) provides that the appointment of an interim manager comes to an end at the end of the moratorium, at the time when proposals as to the future ownership and management of the RSL is agreed, or on a date specified in the appointment, whichever is the earliest. If a person ceases to be an interim manager before that end date (for example, due to illness or death), subsection (10) enables the Welsh Ministers to appoint a new interim manager.
- Blaenorol
- Nodiadau Esboniadol Tabl o’r Cynnwys
- Nesaf
