33A. (1) For the purposes of performing any one or more of the functions of the Agency in relation to a multi-unit development, the Agency or a subsidiary DAC formed for the purposes of performing such functions may, notwithstanding any provision in its constitution and as it considers appropriate, cause a subsidiary, within the meaning of the Companies Act, in the form of a company limited by guarantee (to be known as a “subsidiary CLG”), to be formed and registered under Part 18 of the Companies Act as an owners’ management company in relation to the multi-unit development concerned.

(2) The Agency, or a subsidiary DAC referred to in subsection (1), may cause a subsidiary CLG to be formed and registered under subsection (1) only for the purposes of the performance, in accordance with the Act of 2011, by the subsidiary CLG, of functions of an owners’ management company in relation to the multi-unit development concerned.

(3) The Agency or, in the case of a subsidiary DAC that has caused a subsidiary CLG to be formed under subsection (1), the subsidiary DAC, may, notwithstanding any provision in its constitution, become a member of the subsidiary CLG in accordance with the Act of 2011.]