PART 6Review
Review42
1
The Treasury must from time to time—
a
carry out a review of the regulatory provisions amended by articles 2 to 41;
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 Directive 2014/59/EU of the European Parliament and of the Council of 15th May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms147 (which is partly implemented by means of articles 2 to 40) is implemented in other EEA States.
3
The report must in particular—
a
set out the objectives intended to be achieved by the regulatory system amended by articles 2 to 41;
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 article must be published before the end of the period of five years beginning with the day on which this Order comes into force.
5
Reports under this article are afterwards to be published at intervals not exceeding five years.