The Investment Intermediaries Act, 1995, is hereby amended by the substitution of the following section for section 4:
"4. Supervisory authority.
(1) In this Act, 'supervisory authority' means the Bank.
(2) The Bank shall be the supervisory authority for all investment business firms.
(3) Notwithstanding anything to the contrary in this Act, this Act shall be read as if there were only one supervisory authority for the purposes of this Act.".