(1) Section 16 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27) (grants to bodies concerned with accounting standards etc) is amended as follows.
(2) In subsection (2) (matters carried on by bodies eligible for grants) for paragraph (l) substitute -
"(l) issuing standards to be applied in actuarial work;
(m) issuing standards in respect of matters to be contained in reports or other communications required to be produced or made by actuaries or in accordance with standards within paragraph (l);
(n) investigating departures from standards within paragraph (l) or (m);
(o) taking steps to secure compliance with standards within paragraph (l) or (m);
(p) carrying out investigations into public interest cases arising in connection with the performance of actuarial functions by members of professional actuarial bodies;
(q) holding disciplinary hearings relating to members of professional actuarial bodies following the conclusion of investigations within para
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