(1) This section applies to the following credit institutions -
(a) a designated credit institution that has become subject to an insolvency process;
(b) a formerly designated credit institution;
(c) a designated credit institution in respect of which a direction under section 20 is in force;
(d) a designated credit institution in respect of which a manager has been appointed under Part 6 or Schedule 1.
(2) The Authority may, by notice in writing given to the cover-assets monitor appointed in respect of a credit institution to which this section applies, confer on that monitor such additional responsibilities as it considers appropriate for the effective management of the affairs of the institution.
(3) If a liquidator, examiner, receiver or manager is appointed in respect of a credit institution to which this section applies, the cover-assets monitor appointed in respect of the institution may enter into arrangements with respect to the management of the institution on such matters as
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