The Act of 1942 is amended by the substitution of the following section for section 33AW:

"33AW.

(1) In this section -

(a) an 'inquiry decision' means any of the following:

(i) a finding made by the Bank under section 33AQ(1) or (2);

(ii) a decision of the Bank imposing a sanction under section 33AQ;

(iii) a decision of the Bank imposing a sanction under section 33AR(2)(b) or (4) (b),

and

(b) an 'appeal decision' means a decision of the Appeals Tribunal affirming or varying, or made in substitution for, an inquiry decision.

(2) An inquiry decision is an appealable decision for the purposes of Part VIIA.

(3) An appeal under Part VIIA against an inquiry decision may be made only on one or more of the following grounds:

(a) any ground that could, but for section 33BF, be relied on in an application seeking judicial review of the inquiry decision;

(b) so far as it is not within paragraph (a), the ground that any sanction imposed is not proportionate.

(4) An inquiry decision and an appeal decision do not take effect unless confirmed by the High Court on an application under this section.