(1) The special manager of a relevant institution shall take over the management of the business of the relevant institution and shall carry on that business as a going concern with a view to preserving and restoring the financial position of the relevant institution, or the whole or any part of its business, in a manner consistent with the achievement of the purposes of this Act.
(2) Without limiting the generality of subsection (1), the special manager of a relevant institution has the power to acquire and dispose of any asset or all the assets, and any liability, of that institution.
(3) A reference in subsection (2) to disposing of an asset or a liability includes selling or otherwise transferring, and creating a security or equitable interest in, the asset or liability.
(4) The special manager of a relevant institution has, in relation to the relevant institution, all powers necessary for or incidental to the special manager's functions, including the sole authority over and