(1) (a) In the event that the Central Bank initiates official administration or receivership of a licensed financial institution, a Participating Government may, if appropriate, provide financing in the amount necessary to facilitate the transfer of deposits held by the licensed financial institution.
(b) A Participating Government in providing financing under paragraph (a) may take into consideration —
(i) its fiscal and debt profile, and
(ii) the costs that would have been incurred in paying out depositors in a liquidation.
(2) Where a Participating Government provides such financing, the Participating Government shall assume the rights of depositors against the licensed financial institution and shall enjoy the priority conferred on depositors over other unsecured creditors in section 153 of this Act.