597. Cessation of management by RTM company.

Provision may be made by an agreement made between:

  1.  

    (1)     the RTM company1; and

  2.  

    (2)     each person who is landlord2 under a lease3 of the whole or any part of the premises4,

for the right to manage the premises5 to cease to be exercisable by the RTM company6.

The right to manage the premises ceases to be exercisable by the RTM company:

  1.  

    (a)     if:

    1.  

      (i)     a winding-up order is made, or a resolution for voluntary winding up is passed, with respect to the RTM company, or the RTM company enters administration7;

    2.  

      (ii)     a receiver or a manager of the RTM company's