SCHEDULE 1Performance targets

Notice of intention

3(1)Before setting a performance target, or requiring the approved regulator to do so, the Scottish Ministers must give it a notice (a “notice of intention”) of their intention to do so.

(2)The notice of intention must—

(a)state that the Scottish Ministers intend to—

(i)set a performance target, or

(ii)require that the approved regulator set such a target,

(b)describe the proposed target (including the period within which it would have to be met),


(i)the act or omission (or series of acts or omissions) to which the proposed target relates,

(ii)any other facts which, in their opinion, justify the intended target-setting.