7Duties in relation to carrying out its functionsU.K.
This section has no associated Explanatory Notes
After section 8 (general functions of the Authority) insert—
“8ZADuties in relation to carrying out its functions
(1)The Authority must carry out its functions effectively, efficiently and economically.
(2)In carrying out its functions, the Authority must, so far as relevant, have regard to the principles of best regulatory practice (including the principles under which regulatory activities should be transparent, accountable, proportionate, consistent and targeted only at cases in which action is needed).”