54. (1) Where the High Court is satisfied, upon the application of the Regulator, that—

(a) an offence under this Act has been or is being committed by an AHB,

(b) an AHB has failed or is failing to comply with any provision of this Act,

(c) any property (both real and personal) of an AHB has been or is being misapplied or has been or is being dealt with or managed in a manner that endangers the property or such that the property otherwise requires protection,

(d) there has been any other misconduct or mismanagement on the part of any director or other officer or member of staff of an AHB in relation to the affairs of the AHB,

(e) an unlawful or otherwise improper use of funds or resources of an AHB has occurred or is occurring,

(f) there is a serious risk to the financial viability of an AHB,

(g) it is necessary for the purpose of the protection of the tenants of dwellings provided or managed, as the case may be, by an AHB for the purpose specified in section 25(2)(b)(i), or

(h) information tending to show any matter falling within any of the preceding paragraphs has been or is being concealed or destroyed,

the High Court may make such order as it considers appropriate in the circumstances.

(2) On the hearing of an application under this section, the High Court may—

(a) dismiss the application,

(b) adjourn the hearing conditionally or unconditionally, or

(c) make—

(i) an interim order,

(ii) an interlocutory order, or

(iii) a permanent order,

under this section.

(3) An application by the Regulator for an interim order under this section may be made ex parte.

(4) In this section “order” includes—

(a) an order suspending or removing any director or other officer or member of staff of the AHB,

(b) an order appointing such person or persons as the High Court considers appropriate to act as a director or other officer of the AHB in addition to, or instead of, any existing director or other officer,

(c) an order vesting any or all of the property of an AHB in another AHB identified by the Regulator, or such other person as the High Court considers appropriate, subject and without prejudice to any right or interest of any third party (including any tenant of a dwelling to which the order applies and any mortgagee or other person who is the owner of any security or charge affecting any such dwelling or any common areas, structures, works and services or communal facilities and amenities to which the order applies) in the property so vested that exists on the date of the order,

(d) an order prohibiting the removal, sale or application of any property of the AHB without the Regulator’s consent,

(e) an order directing any person who is a debtor of the AHB not to pay such person’s debt to the AHB during such period as may be specified in the order, or to pay it to such person as may be so specified in satisfaction of the debt to the AHB, and

(f) an order restricting or prohibiting the entering into, by the AHB, of such agreements, or agreements of such a class, as may be specified in the order.