179Joint exercise of functionsE+W
(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.