2(1)The Board must give the approved regulator a notice (“a warning notice”) accompanied by a draft of the proposed recommendation.E+W
(2)The warning notice must—
(a)state that the Board proposes to make a recommendation under subsection (5) of section 45 in the form of the accompanying draft, and
(b)state the reasons why the Board is satisfied of the matters mentioned in paragraphs (a) and (b) of that subsection.
(3)The Board must publish a copy of the warning notice.
(4)The approved regulator may make to the Board—
(a)written representations, and
(b)if the Board authorises it to do so, oral representations,
about the proposed recommendation.
(5)The Board must make rules governing the making of oral and written representations.
(6)Representations under this paragraph must be made within—
(a)the period of 28 days beginning with the day on which the warning notice is given to the approved regulator, or
(b)such longer period as the Board may specify in a particular case.
(7)The Board must consider any representations duly made by the approved regulator.
(8)Where oral representations are duly made, the Board must prepare a report of those representations.
(9)Before preparing that report, the Board must—
(a)give the approved regulator a reasonable opportunity to comment on a draft of the report, and
(b)have regard to any comments duly made.
Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.