Central Bank and Credit Institutions (Resolution) Act 2011
Effect of special management order — general.
66.— (1) A special management order has effect—
( a) immediately, to the extent that the Court so orders,
( c) if no such application is made—
(i) at the time ordered by the Court, or
(ii) if the Court makes no order as to the time of effect, 5 working days after the publication of the order under section 59 .
(2) If the Court orders that a special management order is to have effect immediately, the Court may order that, for a period ordered by the Court—
( a) a function of the special manager does not apply to the special manager or applies only to the extent ordered by the Court,
( b) a power of the special manager is not to be exercisable, or is to be exercisable only to the extent ordered by the Court, or
( c) a particular power of the special manager shall not be exercised without the leave of the Court.