Section 40 of the Principal Act is amended as follows:

(a) by omitting from subsection (1) "it" and substituting "the Regulator" ;

(b) by omitting from subsection (1) "its" and substituting "his or her" ;

(c) by omitting from subsection (2)(a) "itself" and substituting "himself or herself" ;

(d) by omitting from subsection (2)(a) "it" and substituting "the Regulator" ;

(e) by omitting from subsection (2)(b) "it" and substituting "the Regulator" .