3. After paragraph 12A, insert—
“12AA. In regulation 18C (trust services), in paragraph (7) for the definition of “designated person” substitute—
““designated person” means a person who is designated from time to time by the Secretary of State under regulation 5 (power to designate persons)(as it has effect in the United Kingdom) for the purposes of regulation 18C (trust services)(as it has effect in the United Kingdom);””