Review4
1
The Treasury must from time to time—
a
carry out a review of the regulatory system established by the Act insofar as it implements Council Directive 2004/113/EC of 13 December 2004 implementing the principle of equal treatment between men and women in the access to and supply of goods and services M1 in respect of insurance services,
b
set out the conclusions of the review in a report, and
c
publish the report.
2
In carrying out the review the Treasury must, so far as is reasonable, have regard to how the Directive is implemented in other member States in respect of insurance services.
3
The report must in particular—
a
set out the objectives intended to be achieved by the regulatory system established by the Act insofar as it implements the Directive in respect of insurance services,
b
assess the extent to which those objectives are achieved, and
c
assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposes less regulation.
4
The first report under this regulation must be published before the end of the period of five years beginning with the day on which these Regulations come into force.
5
Reports under this regulation are afterwards to be published at intervals not exceeding five years.