(1)The OfS must, from time to time, prepare and publish a regulatory framework.
(2)The OfS must have regard to it when exercising its functions.
(3)The regulatory framework is to consist of—
(a)a statement of how it intends to perform its functions, and
(b)guidance for registered higher education providers on the general ongoing registration conditions.
(4)The statement under subsection (3)(a) must set out how the OfS intends to perform its functions in relation to a registered higher education provider in proportion to the OfS’s assessment of the regulatory risk posed by the provider.
(5)“Regulatory risk” means the risk of a breach of the provider’s ongoing registration conditions.
(6)Guidance under subsection (3)(b) must include guidance for the purpose of helping to determine whether or not behaviour complies with the general ongoing registration conditions.
(7)The guidance may in particular specify—
(a)descriptions of behaviour which the OfS considers compliant with, or not compliant with, a general ongoing registration condition;
(b)factors which the OfS will take into account in determining whether or not behaviour is compliant with a general ongoing registration condition.
(8)Before publishing a regulatory framework under this section the OfS must consult—
(a)bodies representing the interests of English higher education providers,
(b)bodies representing the interests of students on higher education courses provided by English higher education providers, and
(c)such other persons as it considers appropriate.
(9)Where a regulatory framework is published, the OfS must send a copy of it to the Secretary of State who must lay it before Parliament.