312Management agreement—agency may enter or refuse

312 Management agreement—agency may enter or refuse (1) If the conservator has given a proposed agreement to an agency under section 311, the agency may— (a) enter into the proposed agreement by signing the agreement and returning it to the conservator before the due date; or (b) refuse to enter into the agreement by telling the conservator, in writing, of the refusal before the due date. (2) If an agency does not act under subsection (1), the agency is taken to have refused to enter into the proposed agreement.