Part 4Regulation of approved regulators
General duties of approved regulators
28Approved regulator's duty to promote the regulatory objectives etc
1
In discharging its regulatory functions (whether in connection with a reserved legal activity or otherwise) an approved regulator must comply with the requirements of this section.
2
The approved regulator must, so far as is reasonably practicable, act in a way—
a
which is compatible with the regulatory objectives, and
b
which the approved regulator considers most appropriate for the purpose of meeting those objectives.
3
The approved regulator must have regard to—
a
the principles under which regulatory activities should be transparent, accountable, proportionate, consistent and targeted only at cases in which action is needed, and
b
any other principle appearing to it to represent the best regulatory practice.