Regulation 32 Requirement to publish statement of policy with respect to penalties
The Regulator must as soon as reasonably practicable after this regulation comes into force prepare and publish a statement of policy with respect to—
the imposition of penalties; and
the determination of their amount.
The Regulator may revise its statement of policy and where it does so must publish the revised statement.
Publication under this regulation must be in such manner as the Regulator considers appropriate for the purpose of bringing the matters contained in the statement of policy to the attention of persons likely to be affected by them.
The Regulator must undertake such consultation as it considers appropriate when preparing or revising its statement of policy.
It is immaterial for the purposes of paragraph (4) whether consultation is carried out before or after the coming into force of this regulation.