The Companies (Audit, Investigations and Community Enterprise) (Northern Ireland) Order 2005

Regulator

26.—(1) There is to be an officer known as the Regulator of Community Interest Companies for Northern Ireland (referred to in this Part as “the Regulator”).

(2) The Department must appoint a person to be the Regulator.

(3) The Regulator has such functions relating to community interest companies as are conferred or imposed by or under this Order or any other statutory provision.

(4) The Regulator must adopt an approach to the discharge of those functions which is based on good regulatory practice, that is an approach adopted having regard to—

(a) the likely impact on those who may be affected by the discharge of those functions,

(b) the outcome of consultations with, and with organisations representing, community interest companies and others with relevant experience, and

(c) the desirability of using the Regulator’s resources in the most efficient and economic way.

(5) The Regulator may issue guidance, or otherwise provide assistance, about any matter relating to community interest companies.

(6) The Department may require the Regulator to issue guidance or otherwise provide assistance about any matter relating to community interest companies which is specified by the Department.

(7) Any guidance issued under this Article must be such that it is readily accessible to, and capable of being easily understood by, those at whom it is aimed; and any other assistance provided under this Article must be provided in the manner which the Regulator considers is most likely to be helpful to those to whom it is provided.

(8) Schedule 4 (further provisions about the Regulator) has effect.