(1)An approving body must—
(a)provide such information about its performance in relation to its regulatory scheme as the Scottish Ministers may reasonably request,
(b)do so within 21 days beginning with the date of the request (or such longer period as the Scottish Ministers may allow).
(2)An approving body—
(a)if directed to do so by the Scottish Ministers, must—
(i)review its regulatory scheme (or any relevant part of it), and
(ii)report to them its findings and (if appropriate) inform them of any proposed amendment to the scheme,
(b)may amend its regulatory scheme so as to give effect to the proposed amendment, but—
(i)any material amendment is invalid unless it has the prior approval of the Scottish Ministers,
(ii)the Scottish Ministers may not give their approval before they have consulted such person or body as they consider appropriate.
(3)The Scottish Ministers may—
(a)if, after consulting such person or body as they consider appropriate, they consider that an approving body's regulatory scheme is not (or is no longer) adequate, direct the approving body to amend the regulatory scheme in such manner as they may specify,
(b)if they are satisfied that an approving body has not complied with a requirement imposed on it by or under this Chapter, direct the approving body to take specified remedial action (or refrain from doing something).
(4)An approving body must—
(a)review annually the performance of its confirmation agents,
(b)prepare a report on the review,
(c)send a copy of the report to the Scottish Ministers.
(5)The Scottish Ministers may by regulations make further provision—
(a)about the review of confirmation agents,
(b)so far as it appears to them to be necessary for safeguarding the interests of clients of confirmation agents—
(i)concerning the functions of approving bodies,
(ii)relating to confirmation agents.
Commencement Information
I1S. 100 in force at 1.4.2011 for specified purposes by S.S.I. 2011/180, art. 3, Sch.