For section 45 of the 1986 Act there shall be substituted the following section -
"45 The criteria of prudent management
(1) If it appears to the Commission that there has been or is, on the part of a building society or its directors, a failure to satisfy any one or more of the following criteria of prudent management, it shall be entitled to assume for the purposes of its relevant prudential powers that the failure is such as to prejudice the security of the investments of shareholders or depositors.
(2) The prudential powers relevant for the purposes of this section are the Commission's powers -
(a) under section 42, to impose conditions on a society's authorisation,
(b) under section 42B, to direct a society to transfer all its engagements or its business, and
(c) under section 43, to revoke a society's authorisation,
by reference to the expedience of the imposition, direction or revocation for the protection of the investments of shareholders or depositors.
(3) For the purpos