Chapter 2 of Part IIIC of the Act of 1942 is amended by the insertion of the following sections before section 33AO:

"33ANI. Interpretation (Chapter 2)

In this Chapter -

'investigation' means an investigation referred to in section 33ANJ(1);

'responsible authorised officer' means the authorised officer responsible for an investigation. Investigation of suspected prescribed contravention 33ANJ.

33ANJ. Investigation of suspected prescribed contravention

(1) As soon as practicable after a decision is made by the Bank to investigate -

(a) whether a person is committing or has committed one or more prescribed contraventions, or

(b) whether a person is participating or has participated, while performing a relevant controlled function, in the commission by a regulated financial service provider of one or more prescribed contraventions,

the responsible authorised officer shall give the person notice in writing of the investigation.

(2) The responsible authorised officer shall give the person to whom an investigation relates an amended notice in writing of the investigation as soon as practicable after any of the following events:

(a)  there is a change in the investigation of the commission of or participation in a prescribed contravention such that a statement included under subsection (3)(a) is no longer accurate;