(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.