22(1)Section 407 (consequences of a direction under section 405) is amended as follows.
(2)In subsection (1)—
(a)for “the Authority”, in the first place, substitute “a regulator”,
(b)in paragraph (a), for “subsections (7) to (9) of section 52 do” substitute “section 55X does”, and
(c)in paragraph (b), for “Authority” substitute “regulator”.
(3)In subsection (2)—
(a)for “the Authority”, in the first place, substitute “a regulator”,
(b)in paragraph (a), for “section 52(1) and (2)” substitute “subsections (1) to (3) of section 55V”, and
(c)in paragraph (b), for “Authority” substitute “regulator”.
(4)In subsection (3)—
(a)for “the Authority”, in the first place, substitute “a regulator”, and
(b)in paragraph (b), for “Authority” substitute “regulator”.