F1PART 1AFinancial Stability
Review
9TDuty to review directions and recommendations
(1)
The Financial Policy Committee must—
(a)
before the end of each review period, review each direction given by it under section 9H, other than a direction revoked before the end of the review period, and
(b)
prepare a summary of its conclusions.
(2)
A review period is—
(a)
in relation to the first review, the period of 12 months beginning with the day on which the direction was given, and
(b)
in relation to subsequent reviews, the period of 12 months beginning with the day on which the previous review was completed.
(3)
The Financial Policy Committee must maintain arrangements for the review at regular intervals of any recommendations that it has made under any of sections 9O to 9R and are of continuing relevance.
(4)
The purpose of a review is—
(a)
in the case of a direction, to consider whether the direction ought to be revoked, and
(b)
in the case of a recommendation, to consider whether the recommendation ought to be withdrawn.