(1)The regulatory bodies must co-operate with each other in the exercise of their relevant functions if they think that such co-operation—
(a)will have a positive effect on the manner in which those functions are exercised, or
(b)will assist them in achieving their general objectives.
(2)A regulatory body must, in the exercise of its relevant functions, seek to co-operate with a relevant authority if the regulatory body thinks such co-operation—
(a)will have a positive effect on the manner in which the body exercises its functions, or
(b)will assist the body in achieving its general objectives.
(3)Where a regulatory body requests the co-operation of a relevant authority under subsection (2) the authority must comply with the request unless the authority—
(a)is prevented from co-operating in the manner requested by any enactment or other rule of law,
(b)thinks that such co-operation would otherwise be incompatible with its own functions, or
(c)thinks that such co-operation would have an adverse effect on its functions.
(4)If a relevant authority requests the co-operation of a regulatory body, the body must comply with that request unless the body—
(a)is prevented from co-operating in the manner requested by any enactment (including this Act) or other rule of law,
(b)thinks that such co-operation would otherwise be incompatible with the regulatory body's own functions, or
(c)thinks that such co-operation would have an adverse effect—
(i)on the body's functions, or
(ii)on achieving the body's general objectives.