47. — Section 31 of the Investment Intermediaries Act, 1995, is hereby amended—

(a) by the substitution in subsection (3) of “ the supervisory authority ” for “the Minister for Enterprise and Employment”,

(b) by the substitution in subsection (3) of “ the supervisory authority ” for “that Minister”, and

(c) by the substitution in subsection (4) of “ The supervisory authority ” for “The Minister for Enterprise and Employment”.