110ADuty under section 108: performance reports and information requirements

1

A person with regulatory functions to which section 108 applies (a “regulator”) must prepare and publish a performance report in respect of each reporting period.

2

A performance report is a report about the effect of performance of the duty under section 108(1) on the way the regulator exercised its functions to which that section applies (its “relevant functions”).

3

A performance report must include—

a

the regulator's assessment—

i

of the views of persons carrying on businesses about the effect mentioned in subsection (2), and

ii

of the impact on such persons of that effect;

b

a description of the effect the regulator expects performance of the duty under section 108(1) to have on the way it exercises its relevant functions in future.

4

In preparing and publishing a performance report a regulator must follow any guidance given from time to time by a Minister of the Crown, unless the regulator considers that there is a good reason not to do so.

5

Guidance under subsection (4) may, in particular, include guidance as to—

a

information or other matters to be included in a performance report;

b

information to be obtained for the purposes of a performance report;

c

the means by which information should be obtained for the purposes of a performance report.

6

A performance report must be published no later than three months after the end of the reporting period concerned.

7

A reporting period is a period of 12 months, except as provided by subsection (12)(b).

8

A new reporting period begins immediately after the end of each reporting period.

9

A regulator must give to a Minister of the Crown any information that the Minister may from time to time request which relates to—

a

the effect of performance of the duty under section 108(1) on the way the regulator performs, has performed, or is expected to perform, its relevant functions,

b

the views of persons carrying on businesses about the effect mentioned in paragraph (a) or the impact on such persons of that effect, or

c

any aspect of a performance report in relation to which it appears to the Minister that guidance under subsection (4) has not been followed.

10

A regulator is not required by this section to include in a performance report, or to give to a Minister of the Crown, information about the exercise of functions in relation to a particular person.

11

This section is subject to any express restriction on disclosure imposed by another enactment (ignoring any restriction which allows disclosure if authorised by an enactment).

12

A regulator's first reporting period—

a

begins—

i

on the day on which section 16 of the Enterprise Act 2016 comes into force, or

ii

in the case of a person that becomes a regulator (see subsection (1)) after that day, on the day on which the person becomes a regulator;

b

is of a length determined by the regulator, but is not to exceed 12 months.