49(1)Upon granting an order for administration the Court shall appoint a receiver to administer the deposit.

49(2)Where a provision liquidator or a liquidator has been appointed under this Act, or a liquidator has been appointed under the Winding-up Act, chapter W-10 of the Revised Statutes of Canada, 1970, to wind up a company that has made a deposit under this Act, the Court may appoint the provisional liquidator or the liquidator as the receiver to administer the deposit.

49(3)Thereupon the provisional liquidator or the liquidator shall administer the deposit for the benefit of the insured persons entitled to share in the proceeds thereof in accordance with the provisions of and the priorities set out in this Act.