242.8(1)The Superintendent, without the consent of the policy holders or the defaulting insurer, may appoint an administrator for the automobile insurance contracts of a defaulting insurer whose licence is revoked under section 242.6 and the appointment shall remain in force until revoked by the Superintendent.

242.8(2)The remuneration of an administrator appointed under subsection (1) shall be in the absolute discretion of the Superintendent and all costs including remuneration associated with the appointment of the administrator and reinsurance of the automobile insurance contracts shall be borne by the defaulting insurer.

242.8(3)The administrator appointed under subsection (1) shall have a right of access to, and the defaulting insurer shall provide, all books and records relating to all automobile insurance contracts of the defaulting insurer in force at the time of the revocation of the licence.