Regulation 47 Statement of policy: procedureI1

Before a regulator issues a statement under regulation 46, the regulator must publish a draft of the proposed statement in the way appearing to the regulator to be best calculated to bring it to the attention of the public.

The draft must be accompanied by a notice that representations about the proposed statement may be made to the regulator within a specified time.

Before issuing the proposed statement, the regulator must have regard to any representations made to it in accordance with paragraph (2).

If the regulator issues the proposed statement, it must publish an account, in general terms, of—

If the statement differs from the draft published under paragraph (1) in a way which is, in the opinion of the regulator, significant, the regulator must (in addition to complying with paragraph (4)) publish details of the difference.

The regulator may charge a reasonable fee for providing a person with a copy of a draft published by it under paragraph (1).