73.— (1) In this section “specified body” means—

(a) the housing authority which transferred ownership of the designated apartment complex to the management company under an apartment complex transfer order,

(b) a company referred to in subsection (6), or

(c) an approved body.

(2) Subject to subsection (3), a management company and a specified body may enter into an agreement (in this Part referred to as a “property services agreement”) for the purposes of the provision of such property management services, as may be specified in the agreement, to the management company in respect of the designated apartment complex.

(3) In the case of a property services agreement between a management company and a housing authority the agreement shall be for such period not exceeding 5 years from the date of the first sale of an apartment to the tenant thereof under this Part in the designated apartment complex concerned.

(4) A property services agreement shall be in writing and shall be subject to the terms and conditions and include the information specified in Schedule 4.

(5) The expenses incurred by a specified body in the provision of property management services pursuant to a property services agreement, shall be recouped to the specified body by the management company in accordance with the terms and conditions of the agreement.

(6) A housing authority may, for the purposes of this section, establish a company whose objects include the provision of property management services to management companies, which company shall be a company formed and registered under the Companies Acts.