Section 33ANE of the Act of 1942 is amended -

(a) in subsection (1), by the insertion of "shall not include any regulated financial service provider but, subject to that," after "'designated entity'",

(b) in subsection (2), by the substitution of the following paragraph for paragraph (b):

"(b) participation by a person, while concerned in the management of a designated entity, in the commission by the designated entity of such a contravention.",

(c) in subsection (3), by the substitution of the following paragraph for paragraph (c):

"(c) a reference in this Part to performing a controlled function in relation to a regulated financial service provider includes a and reference to being concerned in the management of a designated entity.",

and

(d) by the deletion of subsection (4).