12 (5) The Reserve Bank may appeal to the Supreme Court against any setting aside or amendment or variation of a declaration under subsection (3), and where such appeal is made the declaration shall continue to have effect until the appeal is determined. PART IV OBJECTS OF ADMINISTRATION AND FUNCTIONS OF ADMINISTRATOR 10 Object of administration The object of administration is to safeguard the interests of the depositors, creditors and members of a troubled financial institution by restoring the troubled financial institution to a sound financial condition or, if it cannot be so restored, to safeguard the interests of the depositors, creditors and members by any one or more of the following modes of resolution— (a) reconstructing the troubled financial institution with a view to securing the registration of a successor financial institution that will succeed to the banking or other business undertaken by the troubled financial institution and to such of its assets and liabilities as remain after the administration; or (b) amalgamating the troubled financial institution or any part of its banking or other business with one or more other troubled financial institutions and securing the registration of a successor financial institution that will succeed to the assets, liabilities and banking or other business undertaken by the amalgamated financial institutions; or (c) transferring all or any part of the banking or other business of the troubled financial institution to any other financial institution together with all or part of the assets and liabilities of the troubled financial institution which remain after the administration; or (d) winding up the troubled financial institution in accordance with section 57 of the Banking Act, if any of the foregoing options are not, in the opinion of the administrator, feasible. 11 General powers of administrator in relation to troubled financial institution (1) The administrator shall have all the powers of a curator under section 55 of the Banking Act, and in addition the following powers, which he or she may exercise without the authority of the directors or shareholders of the troubled financial institution, but subject to any directions of the Reserve Bank— (a) to carry on or discontinue any part of the business of the troubled financial institution; (b) to freeze all or any class of deposits placed with the troubled financial institution indefinitely or for a fixed period; (c) to stop or limit the payment of any obligation, including interest; (d) to set aside any disposition of the property of the financial institution or of any specified person in terms of section 13; (e) to operate every account with a financial institution operated by the troubled financial institution immediately before the commencement of the administration;

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