Section 36: Restrictive Collateral to be Held in Trust.

(1) Upon acquisition by the Corporation of an eligible bank asset secured in whole or in part by landed property or by collateral or security interest which restricts the alienation or contract as a matter of law (in this Act referred to as "Restrictive Collateral"), the eligible financial institution from which such Restrictive Collateral is acquired shall hold such Restrictive Collateral, as bare trustee, in trust for and the sole benefit of the Corporation and shall at the sole direction of the Corporation realize or otherwise deal with such Restrictive Collateral as may be directed by the Corporation and shall turn over all proceeds received from such realization or dealing to the Corporation.
(2) Where the Restrictive Collateral contains a power of attorney in favour of the eligible financial institution concerned, such eligible financial institution shall, as an attorney, act at the sole direction of the Corporation and in so acting as attorney shall, if so instructed by the Corporation appoint the Corporation as receiver or receiver-manager over the Restrictive Collateral and such appointment, whether by deed or otherwise, shall, notwithstanding anything in the Restrictive Collateral or any other law, be deemed to be valid and effectual.