38(1)Section 198 (power to apply to court for injunction in respect of certain overseas insurance companies) is amended as follows.
(2)In subsections (1) to (3), for “Authority”, in each place, substitute “appropriate regulator”.
(3)After subsection (3) insert—
“(3A)The appropriate regulator” means whichever regulator is, at the time when the request is received, the competent authority for the purposes of the provision referred to in subsection (1)(a), (b) or (c).”