(1)Each regulator must prepare and issue a statement of its policy with respect to the exercise of its functions under sections 73 to 79 (“the relevant sections”) and, in particular—
(a)the matters it will take into account in determining whether the conditions which give rise to its duty to carry out an investigation under section 73 [F1, 74 or 76A] (as the case may be) are met, and
(b)how it will carry out investigations under the relevant sections.
(2)A regulator may at any time alter or replace a statement issued by it under this section.
(3)If a statement issued under this section is altered or replaced by a regulator, the regulator must issue the altered or replacement statement.
(4)A regulator must obtain the consent of the Treasury before issuing a statement under this section.
(5)A statement issued under this section by a regulator must be published by the regulator in the way appearing to the regulator to be best calculated to bring it to the attention of the public.
(6)A regulator must, without delay, give the Treasury a copy of any statement which it publishes under this section.
(7)In exercising, or deciding whether to exercise, its functions under the relevant sections a regulator must have regard to any statement published by it under this section and for the time being in force.
(8)A regulator may charge a reasonable fee for providing a person with a copy of a statement issued by it.
Textual Amendments
F1Words in s. 80(1)(a) substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 106(6), 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
Commencement Information
I1S. 80 in force at 24.1.2013 for specified purposes by S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3
I2S. 80 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.