(1)The CAA must prepare and publish a statement of its policy with respect to—
(a)imposing penalties under this Chapter, and
(b)determining their amount.
(2)The CAA may revise the statement of policy and, if it does so, it must publish the revised statement.
(3)When imposing a penalty under this Chapter, or determining the amount of such a penalty, the CAA must have regard to the last statement of policy published before the act or omission in respect of which the penalty is to be imposed.
(4)When preparing or revising a statement of policy, the CAA must consult such persons as it considers appropriate.