Section 33BE of the Act of 1942 is amended by the insertion of the following subsections after subsection (2):

"(3) In relation to an inquiry that the Bank holds or considers holding, the following functions or powers are restricted for the purposes of subsection (4) and (6):

(a) functions or powers under section 33AO(1) or (2) of deciding whether to hold the inquiry;

(b) functions or powers of the person presiding at the inquiry;

(c) functions or powers under subsection (1), (2), (3) or (5) of section 33AQ;

(d) functions or powers under subsection (2) (b) or (4) (b) of section 33AR of determining whether to impose a sanction or what sanction to impose.

(4) Functions or powers which are restricted under subsection (3) in relation to an inquiry that the Bank holds or considers holding shall not be performed or exercised by -

(a) where subsection (1) or (2) of section 33AO applies, a person involved in carrying out the investigation referred to in that subsection,

(b) where subsection (2) (b) or (4) (b) of section 33AR applies, a person involved in carrying out the investigation referred to in that section, or

(c) a person exercising the Bank's power to decide to carry out the investigation referred to in paragraph (a) or (b).