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56. Sections 387 (warning notices), 388 (decision notices), 389 (notices of discontinuance), 391 (publication), 393 (third party rights) and 394 (access to Authority material) of the Act(1) apply in relation to a warning notice or decision notice under these Regulations.
57. Sections 400 (offences by bodies corporate etc.), 401 (proceedings for offences) and 403 (jurisdiction and procedure in respect of offences) of the Act(2) apply to offences under these Regulations as they apply to offences under the Act.
58. Part 9 of the Act (hearings and appeals) applies to references to the Tribunal under these Regulations as it applies to references to the Tribunal under the Act.
59. In the application of these Regulations to Scotland, references to the High Court are to be read as references to the Court of Session.
60.—(1) The Treasury must from time to time—
(a)carry out a review of regulations 3 to 59,
(b)set out the conclusions of the review in a report, and
(c)publish the report.
(2) In carrying out the review the Treasury must, so far as is reasonable, have regard to how the EMIR regulation (which is implemented in part by means of regulations 3 to 59) is implemented in other Member States.
(3) The report must in particular—
(a)set out the objectives intended to be achieved by the regulatory system established by regulations 3 to 59;
(b)assess the extent to which those objectives are achieved, and
(c)assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposes less regulation.
(4) The first report under this regulation must be published before 1st April 2018.
(5) Reports under this regulation are afterwards to be published at intervals not exceeding five years.
Sections 387, 388, 389, 391, 393 and 394 were amended by Schedule 9 to the Financial Services Act 2012. Section 391 was also amended by section 13 of the Financial Services Act 2010, section 24 of the Financial Services Act 2012 and S.I. 2012/916. Section 394 was also amended by Schedule 4 to the Regulation of Investigatory Powers Act 2000 (c.23).
Sections 400, 401 and 403 were amended by Schedule 9 to the Financial Services Act 2012. Section 401 was also amended by Schedule 25 to the Enterprise Act 2002 (c.40).
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