Regulation 5 Approval of plans
The relevant authority must exercise its functions in accordance with the following procedure where the governing body of an institution applies to the relevant authority for approval of a proposed plan:–
the relevant authority must inform the governing body within a reasonable time whether the relevant authority approves the plan or whether it is minded not to approve the plan, giving reasons in the latter case;
where the relevant authority informs the governing body under paragraph (a) that it is minded not to approve the plan, it must inform the governing body that it may, within a reasonable time, do either or both of the following–
make representations to the relevant authority as to why the relevant authority should approve the plan, or
modify the plan;
where the governing body acts in accordance with paragraph (b), the relevant authority must within a reasonable time consider the representations or modifications (or both) to the plan and, having considered them, inform the governing body whether or not it approves the plan;
where the governing body does not act in accordance with paragraph (b) within a reasonable time, the relevant authority must, within a further reasonable time, inform the governing body whether or not it approves the plan.