(1)Qualifications Wales must prepare a statement of its policy (a “policy statement”) with respect to the exercise of its functions under—
(a)Part 3 (recognition of awarding bodies);
(b)Part 4 (priority qualifications and approval of qualifications);
(c)Part 5 (designation of other qualifications);
(d)Part 7 (enforcement powers of Qualifications Wales);
(e)section 45 (provision of services etc by Qualifications Wales);
(f)section 46(1) (reviews).
(2)The policy statement must contain information as to—
(a)circumstances in which recognition of an awarding body is likely to be made subject to a special condition;
(b)matters likely to be taken into account by Qualifications Wales in deciding whether to designate a form of qualification under section 29, in determining the period for which such a designation is to have effect and in deciding whether to revoke such a designation;
(c)criteria likely to be applied by Qualifications Wales in determining whether it is appropriate in any case to impose a fee capping condition so as to secure value for money;
(d)matters likely to be taken into account by Qualifications Wales in determining the limit specified in a fee capping condition;
(e)the likely duration of a fee capping condition;
(f)circumstances in which a direction is likely to be given to an awarding body in accordance with a transfer condition, and the likely subject matter of any direction given in accordance with a transfer condition;
(g)matters likely to be taken into account by Qualifications Wales in determining whether to make a payment to an awarding body under paragraph 15 of Schedule 3, and in determining the amount of any such payment;
(h)the circumstances in which, and occasions on which, special conditions are likely to be reviewed or revised, and the factors that are likely to be taken into account in any review or revision;
(i)the circumstances in which Qualifications Wales is likely to impose a monetary penalty under section 38;
(j)factors which Qualifications Wales is likely to take into account in determining the amount of a penalty to be imposed under that section.
(3)Qualifications Wales must also prepare a statement setting out—
(a)circumstances in which Qualifications Wales proposes to carry out consultation in respect of the exercise of any of its functions;
(b)the manner in which it proposes to carry out consultation.
(4)Qualifications Wales must keep the statements prepared under this section under review, and if it considers it appropriate in consequence of a review, prepare revised statements.
(5)Qualifications Wales must publish any statement or revised statement prepared under this section.