(1) Before commencement, section 148 of the Act (modification or waiver of rules) has effect as if the references to "authorised person" (except in subsection (9)) included a reference to a person who has Part 4A permission to carry on any general insurance mediation activity or any long-term care insurance mediation activity, albeit that that permission is not in force.

(2) To the extent that it relates to any general insurance mediation activity, any direction given by the Authority under section 148(2) of the Act as modified by paragraph (1) may not come into force before commencement.

(3) To the extent that it relates to any long-term care insurance mediation activity, any such direction may not come into force before 31st October 2004.