Regulation 8 Duty to consult before using (or requiring the use of) certain methods of information sharing
This paragraph applies where the Secretary of State intends to use, or require to be used, a particular method of electronic communication (the “proposed method”) to give a bank notices or orders under regulation 3(c), or be given notices or information by the bank under regulation 14(3)(c), where—
the Secretary of State has not used the proposed method to give a notice or order to the bank before or the bank has not used the proposed method to give a notice or information to the Secretary of State before, and
the Secretary of State considers it may be onerous to use, or require the use of, the proposed method.
Where paragraph (1) applies, the Secretary of State must, before using (or requiring the bank to use) the proposed method, either—
consult with the bank, or
consult with persons appearing to the Secretary of State to represent the interests of banks generally.