PART 9CO-OPERATION AND JOINT WORKING BY THE REGULATORY BODIES ETC.
I1179Joint exercise of functions
1
One regulatory body (“A”) may arrange with the other regulatory body (“B”) for A and B to act together in exercising jointly one or more relevant functions of A with one or more relevant functions of B.
2
A regulatory body may enter into an arrangement under this section only if it thinks that the arrangement—
a
will have a positive effect on the manner in which the body exercises the function, or
b
will assist the body in achieving its general objectives.
3
Arrangements under this section may—
a
include the establishment of a joint committee to exercise the relevant joint functions on behalf of the regulatory bodies, and
b
be on such other terms and conditions (including terms as to payment) as may be agreed between the regulatory bodies.