Public administrator
4 (1) The Lieutenant Governor in Council may appoint a public administrator to discharge the powers and duties of the corporation under this Act if the Lieutenant Governor in Council considers it to be necessary in the public interest.
(2) On the appointment of a public administrator, the members of the board of directors cease to hold office unless otherwise ordered by the Lieutenant Governor in Council.
(3) The Lieutenant Governor in Council may specify
(a) the powers, duties and responsibilities of a public administrator appointed under this section,
(b) the terms and conditions for management of the property and affairs of the corporation during the transition period preceding the ending of the appointment of a public administrator, or
(c) how the corporation will operate after the ending of the appointment of a public administrator