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(1)An order under section 46(1) may, where the landlord is an industrial and provident society, give the manager power to make and execute on behalf of the society an instrument transferring the engagements of the society.
(2)Any such instrument has the same effect as a transfer of engagements under section 51 or 52 of the [1965 c. 12.] Industrial and Provident Societies Act 1965 (transfer of engagements by special resolution to another society or a company).
In particular, its effect is subject to section 54 of that Act (saving for rights of creditors).
(3)A copy of the instrument, signed by the manager, shall be sent to the appropriate registrar and registered by him; and until that copy is so registered the instrument shall not take effect.
(4)It is the duty of the manager to send a copy for registration within 14 days from the day on which the instrument is executed; but this does not invalidate registration after that time.
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