35.—(1) Subject to paragraphs (4) and (5) the Panel must produce a report in every year (“an annual report”) which prescribes in relation to each authority —
(a)the maximum annual adjustment that may be made by that authority in relation to the following year to —
(i)basic allowance;
(ii)special responsibility allowance;
(iii)care allowance;
(iv)travelling allowance;
(v)subsistence allowance; and
(vi)co-optees' allowance.
(b)an index by reference to which one or more of the allowances referred to in paragraph (a)(i) to (vi) may be adjusted annually by that authority in relation to the following year.
(2) For the purposes of —
(a)paragraph (1)(a), the Panel may prescribe different maximum annual adjustments for different authorities; and
(b)paragraph (1)(b), the Panel may prescribe different indices for different authorities.
(3) In producing an annual report, the Panel must-
(a)take account of any supplementary report produced by the Panel prior to that annual report which prescribes matters which for the time being apply to any authority; and
(b)consider any representation received from an authority in respect of the exercise of the Panel’s functions under this regulation.
(4) Subject to paragraph (5), each annual report must be produced by the Panel by 31 December in the year prior to the year to which that report relates.
(5) The first annual report must be produced by the Panel during the financial year ending on 31 March 2010 and in any event before 31 December 2009 (or such later date as the National Assembly for Wales may agree).