(1) No proceedings for an offence under this Act may be instituted in England and Wales except by or with the consent of -

(a) the Director of Public Prosecutions, or

(b) the Director of the Serious Fraud Office.

(c) [deleted]

(2) No proceedings for an offence under this Act may be instituted in Northern Ireland except by or with the consent of -

(a) the Director of Public Prosecutions for Northern Ireland, or

(b) the Director of the Serious Fraud Office.

(3) No proceedings for an offence under this Act may be instituted in England and Wales or Northern Ireland by a person -

(a) who is acting -

(i) under the direction or instruction of the Director of Public Prosecutions or the Director of the Serious Fraud Office, or

(ii) on behalf of such a Director, or

(b) to whom such a function has been assigned by such a Director,

except with the consent of the Director concerned to the institution of the proceedings.

(4) The Director of Public Prosecutions and the Director of the Serious Fraud Office must exercise personally any function under subsection (1), (2) or (3) of giving consent.