Section 33ANF of the Act of 1942 is amended -

(a) in subsection (1)(b), by the substitution of "participation by a person, while concerned" for "participation, by a person concerned",

(b) in subsection (2), 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 reference to being concerned in the management of an insurance holding company or mixed financial holding company.",

(c) by the insertion of the following subsection after subsection (2):

"(2A) References in subsections (1) and (2) to an insurance holding company or mixed financial holding company do not include references to a regulated financial service provider which is such a company.",

and

(d) by the deletion of subsection (3).