23(1)Section 65M (replacement of special administrator) is amended as follows.
(2)In subsection (1), for “the Secretary of State”, in each place it appears, substitute “the regulator”.
(3)In subsection (2), for “the Secretary of State” substitute “the regulator”.
(4)Omit subsection (3).
(5)In consequence of that repeal, omit section 178(1) of this Act.