Powers of Administrator.

The Administrator shall manage the affairs of the institution which has been taken over under section 3 in accordance with the rules, regulation or by-laws or any other instrument which regulates the management of such institution. The Administrator may, notwithstanding anything contained in such rules, regulations or by-laws or such instrument administer the affairs of the institution as he may, subject to the approval of the Director, having regard to the exigencies of the situation, think fit.