64. (1)

The Authority shall have a first ranking unconditional preferential right to satisfy each of its claims arising from the execution of its functions from any cash balances, securities and other assets that the Authority holds for the account of the debtor concerned, whether as collateral to secure its claims or otherwise, at the time that such claim becomes due and payable.

The Authority may exercise its preferential right only by appropriating the cash balances by way of compensation and by selling securities and other assets without undue delay and against a reasonable price and paying itself from the proceeds of the sale after deducting therefrom the costs associated with the sale.

No legal proceedings and no competing claims shall be allowed to delay the exercise by the Authority of its preferential right in accordance with the provisions of this Order.