2(1)Before making regulations under paragraph 1, the Authority shall—
(a)publish the proposed regulations in such manner as appears to it best calculated to bring the proposals to the attention of those likely to be affected by them, together with a statement that representations about the proposals can be made to the Authority within a specified time, and
(b)have regard to any representations duly made in accordance with the statement.
(2)Sub-paragraph (1) does not apply where the Authority considers that the delay involved in complying with it would be prejudicial to the interests of depositors.