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41.—(1) The Treasury must from time to time—
(a)carry out a review of these Regulations;
(b)set out the conclusions of the review in a report; and
(c)publish the report.
(2) The first report under this regulation must be published on or before 21st July 2024.
(3) Subsequent reports must be published at intervals not exceeding five years.
(4) Section 30(3) of the Small Business, Enterprise and Employment Act 2015(1) requires that a review carried out under this regulation must, so far as is reasonable, have regard to how the EU Prospectus Regulation is implemented in other countries which are subject to its obligations.
(5) Section 30(4) of that Act requires that a report published under this regulation must, in particular—
(a)set out the objectives intended to be achieved by these Regulations;
(b)assess the extent to which those objectives are achieved;
(c)assess whether those objectives remain appropriate; and
(d)if those objectives remain appropriate, assess the extent to which they could be achieved in another way that imposes less onerous regulatory provision.
(6) In this regulation, “regulatory provision” has the same meaning as in sections 28 to 32 of the Small Business, Enterprise and Employment Act 2015 (see section 32 of that Act).
2015 c. 26. Section 30(3) was amended by section 19 of the Enterprise Act 2016 (c. 12).
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