Section 67: Term of office and remuneration of conservator

67. Term of office and remuneration of conservator (1) The term of office of the conservator shall continue, unless replaced by a successor, until such time as the Board finds that— (a) the financial institution is rehabilitated or reorganised, so that it may be returned to management or a new management under such conditions as are necessary to prevent recurrence of the conditions that gave rise to the conservatorship; or (b) the financial institution is in such condition that its continuance in business would involve probable loss to its depositors and other creditors, in which case Part XI shall apply. (2) The remuneration of the conservator and the indemnification of the conservator from liability to third persons on account of all actions taken in good faith shall be borne by the financial institution. (S. 67 came into operation on 1 June 2007.)