The Communications Act 2003 is amended as follows.
In section 400(4)(c) (destination of fees and penalties: account for financial year), for the words from "of principles" to "subsection (4)" substitute ." under section 401 for meeting the costs set out in the statement in accordance with subsection (1)(b) "
In section 401 (retention of amounts by OFCOM), for subsection (1) substitute—
In subsection (2) of that section, omit "of principles".
For subsections (3) to (5) of that section substitute—
In subsection (6) of that section, omit "the principles contained in".
In subsection (7) of that section, for "of carrying out the functions mentioned in subsection (4) of this section" substitute ." set out in the statement in accordance with subsection (1)(b) "
In subsection (8) of that section, omit "of principles".
In subsection (10) of that section, after "Treasury" insert ." and the Secretary of State "
For the heading to that section substitute ." Retention by OFCOM of amounts paid under Wireless Telegraphy Act 2006 "