48. Section 52 of the Insurance Act is amended —
by inserting, immediately after subsection (1), the following subsection:
“(1A) Without prejudice to the generality of subsection (1), the Authority may make regulations to exempt any person or class of persons from section 3 or 35W and, in making these regulations, the Authority may make such provisions as it thinks fit to regulate the person or class of persons, whether by modification of provisions of this Act or by imposing such other requirements or restrictions as may be prescribed.”; and
by inserting, immediately after the words “this Act” in subsection (2), the words “or any direction”.