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Amendment of section 15 of Principal Act.
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10.— Section 15 of the Principal Act is amended—
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(a) by inserting the following after subsection (1):
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“(1A) Registration as a designated commercial mortgage credit institution authorises the institution named in the certificate of registration to carry on the business of a designated commercial mortgage credit institution in accordance with this Act.”,
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(b) in subsection (5), by inserting “, a designated commercial mortgage credit institution” after “mortgage credit institution”, and
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(c) by inserting the following after subsection (5):
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“(6) Registration under this Act of a person as a particular kind of designated credit institution permitted by this Act does not permit that person to act as another kind of designated credit institution permitted by this Act unless that person is also registered under this Act as that other kind of designated credit institution.”.
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