(1) The following subsection is substituted for subsection (5) of section 3 of the Principal Act:

"(5) Proceedings for a summary offence -

(a) under any provision of this Act (other than subsection (1) (b)) may be brought and prosecuted by the Board,

(b) under subsection (1) (b) may be brought and prosecuted by the Financial Services and Pensions Ombudsman.".

(2) Subsection (6) of section 3 of the Principal Act is amended -

(a) by the substitution for "Board" of "Board or Financial Services and Pensions Ombudsman, as the case may be,", and

(b) by the substitution for "Board's" of "Board's or Financial Services and Pensions Ombudsman's".