Notification of the approved regulatorE+W
2(1)The Board must give the approved regulator a notice (“a warning notice”) accompanied by a copy of the proposed direction.E+W
(2)The warning notice must—
(a)state that the Board proposes to give the approved regulator a direction in the form of the accompanying draft,
(b)specify why the Board is satisfied as mentioned in section 32(1) and (2), and
(c)specify a period within which the approved regulator may make representations with respect to the proposal.
(3)The period specified under sub-paragraph (2)(c)—
(a)must begin with the date on which the warning notice is given to the approved regulator, and
(b)must not be less than 14 days.
(4)The approved regulator may make to the Board—
(a)written representations, and
(b)if the Board authorises it to do so, oral representations,
about the proposed direction.
(5)The Board must make rules governing the making of oral and written representations.
(6)The Board must consider any representations duly made by the approved regulator.
(7)Where oral representations are duly made, the Board must prepare a report of those representations.
(8)Before preparing that report, the Board must—
(a)give the approved regulator a reasonable opportunity to comment on a draft of the report, and
(b)have regard to any comments duly made.
Commencement Information
I1Sch. 7 para. 2 wholly in force at 1.1.2010; Sch. 7 para. 2 not in force at Royal Assent see s. 211; Sch. 7 para. 2(5) in force at 1.1.2009 by S.I. 2008/3149, art. 2(c)(ii); Sch. 7 para. 2 in force otherwise at 1.1.2010 by S.I. 2009/3250, art. 2(c)(ii) (with art. 9)