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81.—(1) Section 166 of the Companies Act 1989 (power to give directions to recognised investment exchanges and recognised clearing houses with head offices in the UK) is amended as follows.
(2) In subsection (2), in each of paragraphs (a) and (b)—
(a)for “Secretary of State” substitute “Authority”;
(b)for “he” substitute “the Authority”.
(3) In subsection (3)—
(a)for “Secretary of State” substitute “Authority”; and
(b)for “he”, in both places, substitute “it”.
(4) In subsection (7)—
(a)for “Secretary of State”, in both places, substitute “Authority”; and
(b)for “he is satisfied that it” substitute “it is satisfied that the direction”.
(5) In subsection (8) for “Secretary of State” substitute “Authority”.
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