Section 78 of the Principal Act is repealed and the following section is substituted:

78.     Rectification order as precursor to disciplinary action

(1)  Before taking disciplinary action against a prescribed licence holder under section 112T , the Commission may direct the prescribed licence holder in writing to take specified action within a specified time to rectify the matter which constitutes the grounds for the disciplinary action concerned.

(2)  If a prescribed licence holder referred to in subsection (1) fails to take the specified action within the specified time, the Commission may take disciplinary action in accordance with section 112T .