OpenLegislation

Section 18 Revised strategic plansI1I2

England and Wales

(1)

This section supplements section 17.

(2)

The regulator may at any time in the period to which a plan relates—

(a)

prepare a revised plan relating to the remainder of that period (or to such other period as the Secretary of State and the regulator may agree), and

(b)

submit it to the Secretary of State for approval.

(3)

The Secretary of State may at any time during the period to which a plan relates require the regulator to submit a revised plan for approval.

(4)

Where such a requirement is made, the revised plan—

(a)

must be submitted as soon as reasonably practicable, and

(b)

must relate to the remainder of the period to which the current plan relates (or to such other period as the Secretary of State and the regulator may agree).

(5)

Section 17(3) to (6) apply in relation to a revised plan.

(6)

If approved, the revised plan replaces the current plan.

(7)

In this section—

  • “current plan” means the first plan mentioned in subsection (2) or (3) (as the case may be);

  • “plan” means a strategic plan as defined by section 17.

Annotations

Commencement

I1

S. 18 in force at Royal Assent for specified purposes, see s. 170(2)(a)

I2

S. 18 in force at 28.6.2022 in so far as not already in force by S.I. 2022/561, regs. 1(2), 3(c) (with reg. 6)