Review
128.—(1) The Treasury must from time to time—
(a)carry out a review of the effectiveness of articles 2 to 127,
(b)set out the conclusions of the review in a report, and
(c)publish the report.
(2) In carrying out the review the Treasury must, so far as is reasonable, have regard to how the recovery and resolution directive (which is partially implemented by means of articles 2 to 127) is implemented in other EEA states.
(3) The report must in particular—
(a)set out the objectives intended to be achieved by the regulatory system established by articles 2 to 127,
(b)assess the extent to which those objectives are achieved, and
(c)assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposes less regulation.
(4) The first report under this article must be published before the end of the period of five years beginning with the day on which this Order comes into force.
(5) Reports under this article are afterwards to be published at intervals not exceeding five years.