An order under section 46(1) may, where the landlord is a registered society, give the manager power to make and execute on behalf of the society an instrument transferring the engagements of the society.
A copy of the instrument, signed by the manager, shall be sent to the Financial Conduct Authority and registered by it; and until that copy is so registered the instrument shall not take effect.
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.