(a) subject to sub-paragraph (d)(ii) below, for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1) - 


(i) in paragraph (a) and (b) for "him" there shall be substituted "them", and

(ii) in paragraph (b) for "he is" there shall be substituted "the Treasury are";



(c) in subsection (1A) for "him" there shall be substituted "the Treasury";

(d) in subsection (1B) - 



(i) for "him" there shall be substituted "the Treasury", and

(ii) in paragraph (b) for "the Secretary of State of his functions" there shall be substituted "the Treasury or the Secretary of State of their functions"; and



(e) in subsection (2) - 



(i) for "he refuses" there shall be substituted "the Treasury refuse", and

(ii) for "he", in the second place it occurs, there shall be substituted "they".

     4. In sections 6 and 7 for "Secretary of State", in each place it occurs, there shall be substituted "Treasury".

     5. In section 8 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury"; and

(b) in subsection (3)(a) for "he is" there shall be substituted "they are".

     6. In section 9 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury"; and

(b) in subsection (1) for "he is" there shall be substituted "the Treasury are".

     7. In section 11 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (2)(b) for "he" there shall be substituted "the Treasury";

(c) in subsection (3) for "his" there shall be substituted "their";

(d) in subsection (5) for "he considers" there shall be substituted "the Treasury consider"; and

(e) in subsection (6) for "issues" there shall be substituted "issue".

     8. In section 12 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1) - 


(i) in paragraph (a) for "he is", in both places it occurs, there shall be substituted "they are", and

(ii) in paragraph (b) for "Department of Trade" there shall be substituted "Treasury";



(c) in subsection (2) - 



(i) in paragraph (a) for "he is" there shall be substituted "they are", and

(ii) in paragraph (b) for "Department of Trade" there shall be substituted "Treasury";



(d) in subsection (5) for "is" there shall be substituted "are"; and

(e) in subsection (8) for "him" there shall be substituted "the Treasury".

     9. In section 12A - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (3) - 


(i) for "he" there shall be substituted "they", and

(ii) in paragraph (b) for "Department of Trade and Industry" there shall be substituted "Treasury";



(c) in subsection (4) - 



(i) for "gives" there shall be substituted "give", and

(ii) in paragraph (b) for "Department of Trade and Industry" there shall be substituted "Treasury"; and



(d) in subsection (7) for "issues" there shall be substituted "issue".

     10. In section 13 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury"; and

(b) in subsection (2A) for "him" there shall be substituted "the Treasury".

     11. In section 19(2) for "Secretary of State", in both places it occurs, there shall be substituted "Treasury".

     12. In section 21A - 

(a) in subsection (1) - 


(i) after "faith" there shall be inserted "to the Treasury or",

(ii) for "him" there shall be substituted "them", and

(iii) after "functions of the" there shall be inserted "Treasury or, as the case may be,";



(b) in subsection (2) - 



(i) for "Secretary of State", in the first, third and fourth places it occurs, there shall be substituted "Treasury",

(ii) after "communicated to the" there shall be inserted "Treasury or", and

(iii) after "matter to" there shall be inserted "the Treasury or, as the case may be,";



(c) in subsection (3) after "communicated to" there shall be inserted "the Treasury or"; and

(d) in subsection (5) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury".

     13. In section 22 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1) for "he thinks" there shall be substituted "they think"; and

(c) in subsection (5) for "him" and for "he" there shall be substituted "the Treasury".

     14. In sections 23 and 24(1) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury".

     15. In section 25 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury"; and

(b) in subsection (5) for "he thinks" there shall be substituted "they think".

     16. In section 26 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury"; and

(b) in subsection (3) - 


(i) for "him" there shall be substituted "them", and

(ii) for "he thinks" there shall be substituted "they think".

     17. In section 29(3) for "Secretary of State" there shall be substituted "Treasury".

     18. In section 30(3) - 

(a) for "Secretary of State", in both places it occurs, there shall be substituted "Treasury"; and

(b) in paragraph (b) for "he" there shall be substituted "the Treasury".

     19. In section 32(4) - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in paragraph (a) for "him" there shall be substituted "them"; and

(c) in paragraph (b) for "considers" there shall be substituted "consider".

     20. In section 33 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1) for "him" there shall be substituted "them"; and

(c) in subsection (2) - 


(i) for "considers" there shall be substituted "consider", and

(ii) for "him" there shall be substituted "the Treasury".

     21. In section 34A(4) for "Secretary of State considers" there shall be substituted "Treasury consider".

     22. In section 37 - 

(a) for "Secretary of State", in each place in occurs, there shall be substituted "Treasury";

(b) in subsection (2) - 


(i) in paragraph (a) for "considers" there shall be substituted "consider",

(ii) in paragraph (aa), paragraph (b) and paragraph (c) for "him", in each place it occurs, there shall be substituted "the Treasury",

(iii) in paragraph (d) for "he is" and "he considers" there shall be substituted "the Treasury are" and "the Treasury consider" respectively,

(iv) in paragraph (e) for "he" there shall be substituted "the Treasury", and

(v) in paragraph (f) for "him" there shall be substituted "the Treasury";



(c) in subsection (3)(a) for "has" there shall be substituted "have";

(d) in subsection (4) for "he considers" there shall be substituted "the Treasury consider";

(e) in subsection (4A) for "him to perform his" there shall be substituted "the Treasury to perform their";

(f) in subsection (5)(a) for "has" there shall be substituted "have";

(g) in subsection (6) for "he considers" there shall be substituted "they consider";

(h) in subsection (7) - 



(i) for "he is", in each place it occurs, there shall be substituted "they are", and

(ii) for "has" there shall be substituted "have"; and



(j) after subsection (8) there shall be added - 

    " (9) This section shall apply in relation to the powers conferred on the Secretary of State by section 44 below as it applies in relation to the powers conferred by that section on the Treasury, except that - 


(a) in subsection (2) - 


(i) the references in paragraphs (a), (aa) and (b) to the Treasury shall be construed as references to the Secretary of State,

(ii) in paragraph (c), the first reference to the Treasury shall be construed as a reference to the Secretary of State, and

(iii) paragraphs (d) to (f) shall not apply;



(b) in subsections (4) and (4A), the references to the Treasury shall be construed as references to the Secretary of State;

(c) subsection (5) shall not apply; and

(d) in subsection (7) the references to the Treasury shall be construed as references to the Secretary of State; and the words from "but this" to the end shall not apply.".

     23. In sections 38 and 39 for "Secretary of State", in each place it occurs, there shall be substituted "Treasury".

     24. In section 40 - 

(a) for "Secretary of State", in both places it occurs, there shall be substituted "Treasury"; and

(b) in subsection (1) for "him" there shall be substituted "the Treasury".

     25. In section 40A - 

(a) for "Secretary of State", in both places it occurs, there shall be substituted "Treasury"; and

(b) in subsection (2) for "his" there shall be substituted "their".

     26. In section 41 for "Secretary of State" there shall be substituted "Treasury".

     27. In section 42 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury"; and

(b) in subsection (4) for "he" there shall be substituted "they".

     28. In section 43 - 

(a) for "Secretary of State", in both places it occurs, there shall be substituted "Treasury"; and

(b) for "him", in each place it occurs, there shall be substituted "them".

     29. In section 43A(1) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury".

     30. In section 44 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1) - 


(i) for "him" there shall be substituted "them", and

(ii) for "he so requires" there shall be substituted "the Treasury so require";



(c) in subsection (2)(a) for "he", in both places it occurs, there shall be substituted "the Treasury";

(d) in subsection (2B) - 



(i) for "him" there shall be substituted "them", and

(ii) for "has" there shall be substituted "have";



(e) in subsection (3) - 



(i) for "or a person authorised by him" there shall be substituted "have or a person authorised by them", and

(ii) for "him", in the second place it occurs, there shall be substituted "them or, as the case may be, him"; and



(f) after subsection (6) there shall be added - 

    " (7) This section shall apply to the Secretary of State and persons authorised by him as it applies to the Treasury and persons authorised by them; and for this purpose references in this section to the Treasury shall be construed as references to the Secretary of State.".

     31. In section 44A - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (2)(b) for "has" there shall be substituted "have"; and

(c) after subsection (8) there shall be added - 

    " (9) The powers conferred by this section shall be exercisable in relation to information on oath given by or on behalf of the Secretary of State as they are exercisable in relation to information on oath given by or on behalf of the Treasury; and for this purpose the reference in subsection (2)(b) to the Treasury shall be construed as a reference to the Secretary of State.".

     32. In section 45 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1) for "him" there shall be substituted "the Treasury"; and

(c) in subsection (2)(a) for "has" there shall be substituted "have".

     33. In section 46 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1) - 


(i) for "he", in the first place it occurs, there shall be substituted "they",

(ii) in paragraph (a) for "is", in the first place it occurs, there shall be substituted "are",

(iii) in paragraph (a) for "he is" there shall be substituted "they are", and

(iv) in paragraph (b) for "Department of Trade" there shall be substituted "Treasury";



(c) in subsection (2) - 



(i) for "decides" there shall be substituted "decide",

(ii) for "he", in the first place it occurs, there shall be substituted "they", and

(iii) in paragraph (b) for "he proposes" there shall be substituted "they propose"; and



(d) in subsection (3) for "is" there shall be substituted "are".

     34. In section 47 - 

(a) in subsections (1) and (3) for "Secretary of State", in both places it occurs, there shall be substituted "Treasury";

(b) in subsection (1) for "him" there shall be substituted "them"; and

(c) after subsection (1) there shall be inserted - 

    " (1A) The Secretary of State may rescind a requirement imposed by him under section 44 above if it appears to him that it is no longer necessary for the requirement to continue in force, and may from time to time vary any such requirement.".

     35. In section 48, after subsection (2) there shall be inserted - 

    " (2A) The Treasury may exercise the powers conferred on the Secretary of State by virtue of subsections (1) and (2) above; and sections 451A(2) and 452(1) of the Companies Act 1985 shall apply in relation to the Treasury as they apply in relation to the Secretary of State.".

     36. In section 52A(1) - 

(a) for "Secretary of State", in both places it occurs, there shall be substituted "Treasury"; and

(b) for "he is" there shall be substituted "they are".

     37. In section 52B(2) for "Secretary of State" there shall be substituted "Treasury".

     38. In section 54 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1)(c) for "is" there shall be substituted "are";

(c) in subsection (2)(c) for "is" there shall be substituted "are";

(d) in subsection (4) for "he" there shall be substituted "the Treasury";

(e) after subsection (4) there shall be inserted - 

    " (4A) The Secretary of State may exercise the powers conferred on the Treasury by subsections (1) to (4) above, and for this purpose those subsections shall be construed as if references to the Treasury were references to the Secretary of State."; and

(f) in subsection (5) for "him and he" there shall be substituted "the Treasury and they".

     39. In section 56(6) - 

(a) after "above" there shall be inserted ", the Treasury"; and

(b) after "special manager", in the second place it occurs, there shall be inserted ", the Treasury".

     40. In section 60 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1)(b) for "has", in the first place it occurs, there shall be substituted "have";

(c) in subsection (3) for "him", in each place it occurs, there shall be substituted "the Treasury";

(d) in subsection (3A) - 


(i) in paragraph (a) for "is" there shall be substituted "are", and

(ii) in paragraph (b) for "the Department of Trade and Industry" there shall be substituted "the Treasury"; and



(e) in subsection (4) for "he is" there shall be substituted "they are".

     41. In section 61 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1)(b) for "has", in the first place it occurs, there shall be substituted "have";

(c) in subsection (1A) for "him", in each place it occurs, there shall be substituted "the Treasury";

(d) in subsection (2) - 


(i) in paragraph (a) for "is" there shall be substituted "are", and

(ii) in paragraph (b) for "the Department of Trade and Industry" there shall be substituted "the Treasury"; and



(e) in subsection (3) for "he is" there shall be substituted "they are".

     42. In section 61A - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury";

(b) in subsection (1)(b) for "has", in the first place it occurs, there shall be substituted "have"; and

(c) in subsection (2) for "him", in both places it occurs, there shall be substituted "them".

     43. In the following sections for "Secretary of State", in each place it occurs, there shall be substituted "Treasury" - 

(a) section 62(2);

(b) section 64(1);

(c) section 65(1) and (4);

(d) sections 66 to 69;

(e) section 70(3);

(f) section 71(1)(c); and

(g) section 75(3).

     44. In section 78 - 

(a) for "Secretary of State", in each place it occurs, there shall be substituted "Treasury"; and

(b) in subsection (2)(e) for "he thinks" there shall be substituted "they think".

     45. In sections 82 and 83 for "Secretary of State", in each place it occurs, there shall be substituted "Treasury".

     46. In section 83A after "conferred on" there shall be inserted "the Treasury or".

     47. In section 84 - 

(a) in subsection (1) for "Secretary of State" there shall be substituted "Treasury"; and

(b) in subsection (2) after "conferred on" there shall be inserted "the Treasury or".

     48. In sections 85(2) and 86(1) for "Secretary of State" there shall be substituted "Treasury".

     49. In section 93 after "consent of", in both places it occurs, there shall be inserted "the Treasury,".

     50. In section 94 - 

(a) in subsection (2) - 


(i) after "Prosecutions," there shall be inserted "the Treasury,", and

(ii) after "his" there shall be inserted "or their";



(b) in subsection (4) - 



(i) before "the Secretary of State", in the first place it occurs, there shall be inserted "the Treasury,", and

(ii) after "knowledge of the" there shall be inserted "Treasury,";



(c) in subsection (6) after "Ireland,", in the second place it occurs, there shall be inserted ", the Treasury"; and

(d) in subsection (7) after "Ireland", in the first place it occurs, there shall be inserted ", the Treasury".

     51. In the following provisions for "Secretary of State", in each place it occurs, there shall be substituted "Treasury" - 

(a) section 94A;

(b) section 97(1);

(c) section 98; and

(d) paragraph 6(3) of Schedule 2A.

     52. Schedule 2B shall be amended as follows.

     53. In paragraph 1(2) after "obtained by" there shall be inserted "the Treasury or".

     54. In paragraph 2 - 

(a) after "assisting" there shall be inserted "the Treasury or"; and

(b) the word "his" is hereby repealed.

     55. In paragraph 3 - 

(a) in sub-paragraph (1) - 


(i) after "disclosure by" there shall be inserted "the Treasury or", and

(ii) after "if" there shall be inserted "the Treasury or, as the case may be,";



(b) in sub-paragraph (2) - 



(i) in paragraph (a) after "of" there shall be inserted "the Treasury or", and

(ii) after "person", in the second place it occurs, there shall be inserted "the Treasury or, as the case may be,";



(c) in sub-paragraph (5), after paragraph (b) there shall be inserted - 



" (ba) the Treasury under this Act or, by virtue of article 2 of the Transfer of Functions (Insurance) Order 1997, under the Financial Services Act 1986;"; and



(d) in sub-paragraph (6) after "unless" there shall be inserted "the Treasury are or".

     56. In paragraph 4(2) - 

(a) after "disclosure by" there shall be inserted "the Treasury or"; and

(b) in paragraph (b) after "of" there shall be inserted "the Treasury or".

     57. In paragraph 5 - 

(a) in sub-paragraph (1) - 


(i) in paragraph (a) after "supplied to" there shall be inserted "the Treasury or", and

(ii) in paragraph (b) after "purposes by" there shall be inserted "the Treasury or", and

(iii) in that paragraph for "his behalf" there shall be substituted "their behalf";



(b) in sub-paragraph (2)(a) after "assisting" there shall be inserted "the Treasury or";

(c) in sub-paragraph (4A) - 



(i) after "Before" there shall be inserted "the Treasury or", and

(ii) for "he" there shall be substituted "they"; and



(d) in sub-paragraph (5), in the definition of "relevant functions" after "functions" there shall be inserted - 



" (a) in relation to the Treasury means their functions under this Act, and

(b) ".

     58. Schedule 2C shall be amended as follows.

     59. For "Secretary of State", in each place it occurs, there shall be substituted "Treasury".

     60. In paragraph 3, in sub-paragraphs (1)(c), (2), (3) and (4)(a), (b) and (c) for "certifies" there shall be substituted "certify".

     61. In paragraph 6(1) for "his" there shall be substituted "their".

     62. In paragraph 7 - 

(a) in sub-paragraph (1) - 


(i) for "he is" there shall be substituted "they are",

(ii) in paragraph (a) for "him" and "he thinks" there shall be substituted "the Treasury" and "they think" respectively, and

(iii) in paragraph (c) for "him" there shall be substituted "the Treasury";



(b) in sub-paragraph (2) for "him" there shall be substituted "them"; and

(c) in sub-paragraph (3) for "has" there shall be substituted "have".