Part V Performance of Regulated Activities

F1Performance of controlled functions without approval

63DStatement of policy: procedure

(1)

Before F2a regulator issues a statement under section 63C, the F3regulator must publish a draft of the proposed statement in the way appearing to the F3regulator to be best calculated to bring it to the attention of the public.

(2)

The draft must be accompanied by notice that representations about the proposal may be made to the F4regulator within a specified time.

(3)

Before issuing the proposed statement, the F5regulator must have regard to any representations made to it in accordance with subsection (2).

(4)

If the F6regulator issues the proposed statement it must publish an account, in general terms, of—

(a)

the representations made to it in accordance with subsection (2); and

(b)

its response to them.

(5)

If the statement differs from the draft published under subsection (1) in a way which is, in the opinion of the F7regulator, significant, the F7regulator must (in addition to complying with subsection (4)) publish details of the difference.

(6)

F8A regulator may charge a reasonable fee for providing a person with a copy of a draft published F9by it under subsection (1).

(7)

This section also applies to a proposal to alter or replace a statement.