Sections 33 and 34 apply if HEFCW are satisfied that the governing body of a regulated institution has failed, or is likely to fail, to comply with a requirement imposed by the Code.
(1)HEFCW may give a direction to the governing body requiring it to take (or not to take) specified steps for the purpose of dealing with or preventing the failure to comply.
(2)For procedural provision about directions under this section, see sections 41 to 44.
(1)HEFCW may give advice or assistance to the governing body with a view to improving the organisation or management of the financial affairs of the institution.
(2)HEFCW may carry out, or arrange for another person to carry out, a review of any matters that they think are relevant to the institution’s compliance with the Code.
(3)A governing body must take into account any advice given to it under subsection (1).