In section 97(1) (appointment by the competent authority of persons to carry out investigations), for paragraphs (a) and (b) substitute—

“(a)

there may have been a contravention of—

(i)

a provision of this Part or of Part 6 rules, or

(ii)

a provision otherwise made in accordance with the prospectus directive or the transparency obligations directive;

(b)

a person who was at the material time a director of a person mentioned in section 91(1), (1ZA)(a), (1A) or (1B) has been knowingly concerned in a contravention by that person of—

(i)

a provision of this Part or of Part 6 rules, or

(ii)

a provision otherwise made in accordance with the prospectus directive or the transparency obligations directive;”.