Section 33AQ of the Act of 1942 is amended -

(a) by the substitution of the following subsections for subsections (1) and (2):

"(1) At the conclusion of an inquiry held under section 33AO to determine whether or not a person is committing or has committed a prescribed contravention, the Bank shall make a finding as to whether, on the balance of probabilities, the person is committing or has committed the contravention.

(2) At the conclusion of an inquiry held under section 33AO to determine whether or not a person is participating or has participated, while performing a relevant controlled function, in the commission by a regulated financial service provider of a prescribed contravention, the Bank shall make a finding as to whether, on the balance of probabilities, the person is so participating, or has so participated, in the commission by the regulated financial service provider of the contravention.

(2A) For the purposes of making a finding under subsection (1) or (2) the Bank shall have regard to all relevant matters, including -

(a) the final report, and any submissions, provided under section 33ANK(5), and

(b) any evidence adduced or submissions made during the inquiry.",

(b) in subsection (3) -