When section 72 (1) or 73 applies, the Authority may, by notice published in Iris Oifigiúil, appoint the NTMA as a temporary manager of the asset covered securities business of a designated or formerly designated credit institution, or of such of these activities as are specified in the notice, until either -
(a) a manager is appointed in respect of the institution, or
(b) an appropriate body corporate becomes the parent entity of the institution.