57Exercise of delegated functions by managing agent

57 Exercise of delegated functions by managing agent

57 Exercise of delegated functions by managing agent

(1) A function delegated under this Division may, while the delegation remains unrevoked, be exercised from time to time in accordance with the delegation.

(2) Despite a delegation made under this Division, the association may continue to exercise all or any of the functions delegated.

(3) An act or thing done or suffered by a managing agent while acting in the exercise of a delegation under this Division—

(a) has the same effect as if it had been done or suffered by the association, and

(b) is taken to have been done or suffered by the association.

(4) This section is subject to section 60.