(1) The competent authority may make a proposed temporary administration order in relation to an institution where it is of the opinion that -
(a) the conditions for the removal of some or all of the senior management or management body of the institution laid down in Regulation 40(1) are met,
(b) the removal of senior management or management body would be insufficient to remedy the situation giving rise to those conditions, and
(c) a temporary administration order is necessary in all the circumstances.
(2) In proposing a temporary administration order, the competent authority may, based on what is proportionate in the circumstances, propose the appointment of one or more temporary administrators either to -
(a) replace the management body temporarily, or
(b) to work temporarily with the management body of the institution.
(3) Where the competent authority proposes to appoint a temporary administrator under this Chapter to work with the management body of the institution, it shall spe
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