42.—(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 firms(1) (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.
OJ L173, 12.6.2014, p.190.