11.—(1) The Secretary of State must from time to time—
(a)carry out a review of this Order;
(b)set out the conclusions of the review in a report; and
(c)publish the report.
(2) In carrying out the review the Secretary of State must, so far as is reasonable, have regard to the rules on penalties applicable to infringements of the provisions of the Venezuela Sanctions Regulation and the measures taken to implement them in European Union member States.
(3) The report must in particular—
(a)set out the objectives intended to be achieved by the rules on penalties applicable to infringements of the provisions of the Venezuela Sanctions Regulation established by this Order and the measures taken to implement them;
(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 Order must be published before the end of five years beginning with the day on which this Order comes into force.
(5) Reports under this Order are afterwards to be published at intervals not exceeding five years.