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Financial management codeE+W

28Procedure for approval of Code by Welsh MinistersE+W

(1)Before publishing the first Code or a revised Code, HEFCW must—

(a)prepare a draft of the first Code or revised Code, and

(b)submit the draft to the Welsh Ministers for their approval.

(2)In preparing a draft of the first Code or of a revised Code, HEFCW must consult—

(a)the governing body of each regulated institution, and

(b)any other persons they think appropriate.

(3)A draft submitted to the Welsh Ministers under this section must be accompanied by a report—

(a)setting out the reasons for the terms of the draft, and

(b)giving details of the consultation carried out under subsection (2) and summarising the representations received by HEFCW during the consultation.

(4)The Welsh Ministers may direct HEFCW to submit a draft of the first Code or of a revised Code to them under this section before the end of a period specified in the direction.

(5)HEFCW must comply with a direction given under subsection (4).

Commencement Information

I1S. 28 in force at 1.9.2015 by S.I. 2015/1327, art. 5(i)