67. The Minister may, after having given the Conservatoire an opportunity to present its views, assume the administration of the Conservatoire in the place and stead of the board of directors for a period of not more than 120 days,(1) where the Conservatoire engages in practices or tolerates a situation incompatible with the pursuit of its objects;
(2) where the Minister considers that there has been a gross fault, such as embezzlement, breach of trust or other misconduct by one or more members of the board of directors;
(3) where the Conservatoire has been seriously remiss in the performance of its obligations under this Act.