55Transfer of functions of managing agent

#### 55 Transfer of functions of managing agent 55 Transfer of functions of managing agent > > (1) A managing agent of an association may transfer the managing agent’s functions, but only if the transfer is authorised by a resolution at a general meeting of the association for the scheme. > > > (2) A person to whom the functions are transferred is taken to be appointed under this Division as a managing agent for the scheme. > > > (3) The term of appointment as a managing agent of the person to whom the functions are transferred ends on the same day as the term of the person by whom the functions were transferred would have ended if the transfer had not taken place.