(1) In the exercise of his or her powers under this Part, the official administrator shall act in accordance with Regulations made pursuant to section 183, directions and prudential standards issued by the Central Bank, at any given time in the course of the official administration, and shall be accountable only to the Central Bank for the performance of his duties and the exercise of his or her powers as official administrator.
(2) The official administrator may delegate any of his or her powers or duties to other persons, in accordance with the instructions issued by the Central Bank.