(1)The Secretary of State must publish a statement of policy with respect to—
(a)the designation of public authorities under section 52;
(b)the imposition and variation of requirements to make payments under this Part; and
(c)such other matters relating to the operation of the provisions of this Part as the Secretary of State may think it appropriate to include in the statement.
(2)The Secretary of State may from time to time revise and republish the statement of policy required by this section.
(3)A revised statement of policy may include saving or transitional provisions relating to the continued application for any purpose of any provisions of an earlier published version of the statement.
(4)The Secretary of State must consult such persons as the Secretary of State considers appropriate before publishing, or revising and republishing, the statement of policy required by this section.
(5)In exercising functions under this Part in relation to an EU financial sanction which has been or may be imposed on the United Kingdom—
(a)a Minister of the Crown, and
(b)a panel established under section 53,
must have regard to the statement of policy most recently published under this section.