Valid from 08/04/2010
[F115(1)The Authority may appoint an independent person to conduct a review of the economy, efficiency and effectiveness with which the consumer financial education body has used its resources in discharging the consumer financial education function.U.K.
(2)The Authority must consult the Treasury before acting under this paragraph.
(3)A review is not to be concerned with the merits of the body's general policy or principles in discharging the consumer financial education function.
(4)On completion of a review, the person conducting it must make a written report to the Authority—
(a)setting out the result of the review; and
(b)making such recommendations (if any) as the person considers appropriate.
(5)The Authority must publish a copy of the report in the way it considers appropriate.
(6)Any expenses reasonably incurred in the conduct of the review are to be met by the Authority.
(7)“Independent” means appearing to the Authority to be independent of the consumer financial education body.]
Textual Amendments
F1Sch. 1A inserted (8.4.2010 for certain purposes and 1.4.2011 otherwise) by Financial Services Act 2010 (c. 28), ss. 2(6), 26(1)(b)(k), Sch. 1 para. 1 (with Sch. 1 para. 2); S.I. 2010/2480, art. 3