(1) By force of this subsection, the Construction and General Division, and each of its branches, is placed under administration from the earliest time at which both of the following are in force:
(a) a legislative instrument made under subsection 323B(1);
(b) the appointment of an administrator under section 323C.
(2) The administration ends on the fifth anniversary of the day it began (unless ended sooner under section 323D).