Part 5Regulatory intervention
Managerial appointment
59Appointment of manager: supplementary
1
It is for the Regulator to determine the terms on which a manager is to be appointed under section 57 or 58 (including as to period of appointment and remuneration and expenses).
2
It is for the social landlord to pay the manager’s remuneration and expenses.
3
A manager has—
a
general powers to do anything required to perform the manager’s functions (including power to enter into agreements or do anything else which the social landlord has power to do), and
b
such specific powers as the Regulator may specify.
4
But a manager must comply with any direction by the Regulator about the performance of the manager’s functions (and may be removed on failure to so comply).
5
A manager acts as the social landlord’s agent and is accordingly not personally liable on an agreement entered into as manager.
6
Anyone dealing with a manager in good faith and for value need not inquire whether the manager is acting within the powers conferred by virtue of this section.