The Investor Compensation Act 1998 is amended -

(a) in section 33 by substituting the following for subsection (4):

"(4) Following consultation with the Company, an administrator may apply to the Court to determine any question arising in relation to his or her functions under this Act.

(5) Notice of an application under subsection (4) shall be given to the Company.",

(b) by inserting the following section after section 33A:

 "33B. Power to make regulations for return of investors' funds or investment instruments.

(1) The Minister may, following consultation with the Bank and the Company, make regulations providing for the return of investors' funds or investment instruments, as the case may be, following the appointment of an administrator, where the Minister considers it necessary to do so in order to provide for their efficient, equitable and prompt return.

(2) Regulations under subsection (1) may include provision for -

(a) the procedures and steps to be taken for the purpose of identifying, recording and, to the extent necessary, reconciling, the books, records or other documents of the investment firm to establish -