—(1) Where, pursuant to an application by a subsidiary proprietor, the mortgagee of a lot or a judgment creditor of a management corporation, a Board is satisfied that it is in the interests of the subsidiary proprietors of all the lots in the subdivided building concerned or the creditors of the management corporation or subsidiary management corporation, as the case may be, to appoint a managing agent for the management corporation or subsidiary management corporation, the Board may order the management corporation to appoint a managing agent to perform the duties specified in the order.
(2) Where a Board makes an order under subsection (1), it may also order that the managing agent shall have and may exercise and perform —
all the powers, duties and functions of the management corporation or subsidiary management corporation to which the order relates or of the chairperson, secretary or treasurer thereof, or the council of that management corporation or the executive committee of that subsidiary management corporation;
any one or more of those powers, duties or functions specified in the order; or
all of those powers, duties and functions except those specified in the order.
[LT(S)A, s. 102]