6(1)The Regulator must in respect of each of its financial years prepare an annual plan which has been approved by the FCA.U.K.
(2)The plan must be prepared—
(a)in the case of the Regulator's first financial year, as soon as reasonably practicable after it is established, and
(b)in the case of each subsequent financial year, before the start of the financial year.
(3)The Regulator may, with the approval of the FCA, vary the plan in respect of a financial year at any time after its preparation.
(4)An annual plan in respect of a financial year must set out—
(a)the aims of the Regulator for the year,
(b)how the extent to which each of those aims is met is to be determined,
(c)the relative priorities of each of those aims, and
(d)how its resources are to be allocated among the activities to be carried on in connection with the discharge of its functions.
(5)In sub-paragraph (4) references to aims for a financial year include aims for a longer period that includes that year.
(6)Before preparing or varying an annual plan, the Regulator must consult—
(a)the Treasury, and
(b)such other persons (if any) as the Regulator considers appropriate.
(7)The Regulator must publish each annual plan, and each variation of an annual plan, in the way it considers appropriate.
Commencement Information
I1Sch. 4 para. 6 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1