Part 2The regulator and its functions
Plans and reports
I118Revised strategic plans
1
This section supplements section 17.
2
The regulator may at any time in the period to which a plan relates—
a
prepare a revised plan relating to the remainder of that period (or to such other period as the Secretary of State and the regulator may agree), and
b
submit it to the Secretary of State for approval.
3
The Secretary of State may at any time during the period to which a plan relates require the regulator to submit a revised plan for approval.
4
Where such a requirement is made, the revised plan—
a
must be submitted as soon as reasonably practicable, and
b
must relate to the remainder of the period to which the current plan relates (or to such other period as the Secretary of State and the regulator may agree).
5
6
If approved, the revised plan replaces the current plan.
7
In this section—
“current plan” means the first plan mentioned in subsection (2) or (3) (as the case may be);
“plan” means a strategic plan as defined by section 17.