9 opportunity to make representations, and for that purpose the administrator shall afford them reasonable access to the institution’s books and records. (2) A declaration shall state— (a) the name of the troubled financial institution; (b) the reasons for declaring the financial institution to be troubled; (c) the name of the administrator, and the names of such assistant administrators, if any, as the Reserve Bank may consider to be necessary to assist the administrator, who shall be under the control and direction of the administrator and to whom the administrator may delegate any of his or her or functions; and (d) directions that the troubled financial institution named therein shall be under the control and management of the administrator, and that any other person vested with the management of the institution’s affairs shall from the commencement of the administration be divested thereof; and (e) such other directions as to the control and management of the troubled financial institution. (3) A declaration shall, in addition to the troubled financial institution named therein, be deemed to be issued in relation to every associate of that financial institution, whether or not the existence or name of such associate is known to the Reserve Bank at the time the declaration is issued or is named in the declaration, unless the associate in question satisfies the administrator that— (a) its accounts are audited separately from those of the troubled financial institution; and (b) the circumstances referred to in section 6(1)(c), (d) or (e) are not present in relation to the associate; and (c) it is conducting its business in accordance with sound administrative, accounting, corporate governance or risk management practices and procedures. (4) Even where an associate referred to in subsection (3) satisfies the administrator that it should not be included within the scope of a declaration, any share, right or interest in or claim upon the associate held by a specified person shall be dealt with in accordance with sections 14 and 20 as if the share, right or interest in or claim upon the associate were held by such person in a troubled financial institution. (5) A single declaration may be made in respect of two or more troubled financial institutions, in which event a single administrator shall be appointed over every troubled financial institution named in the declaration. (6) As soon as possible after issuing a declaration in terms of subsection (1), the Reserve Bank shall cause it to be published by notice in the Gazette and in one or more issues of a newspaper circulating in the area in which the financial institution concerned principally conducts its business. (7) A declaration shall have effect— (a) as soon as it is delivered to the chief executive officer of the financial institution concerned or to a member of the institution’s board; or (b) on the date on which it is published in the Gazette;