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has been revoked.

(5) The receiver shall mail a notice to any depositor or other creditor shown on the books of the licensed financial institution or licensed financial holding company at the address as shown on the books or, if not shown, upon discovery of the name and address.

Central Bank oversight of receiver 141. (1)

The receiver shall act in accordance with Regulations made pursuant to section 183, directions, and prudential standards issued by the Central Bank at any time in the course of the liquidation, and shall be accountable only to the Central Bank for the performance of its duties and the exercise of its powers as receiver. (2) The receiver shall report to the Central Bank at least once a month, or more frequently if the Central Bank so requires, on the progress of the receivership in a form determined by the Central Bank and provide any other information upon the request of the Central Bank.

General powers of receiver 142. (1)

Upon appointment the receiver shall become the sole legal representative of the licensed financial institution or licensed financial holding company, and shall succeed to all the rights, titles, powers and privileges of the licensed financial institution or licensed financial holding company and its shareholders, directors and officers.

(2) Notwithstanding paragraph (1), shareholders, directors and officers may be instructed by the receiver to exercise specified functions for the licensed financial institution or licensed financial holding company.

(3)

The receiver may: (a) hold title to the books, records, and assets of the licensed financial institution or licensed financial holding company;

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