154   Delegation by regulator

(1)  The regulator may, by instrument in writing, delegate to an authorised person a power or function under this Act other than this power of delegation.

(2)  A delegation under this section:

(a)  may be made subject to such conditions as the regulator thinks fit, and

(b)  is revocable at will, and

(c)  does not derogate from the power of the regulator to act.

(3)  In this section:

authorised person means:

(a)  a member of staff of the regulator, or

(b)  a person of a class prescribed by the regulations or of a class approved by the regulator.