77Role of approved regulatorsS
(1)Subsections (2) to (4) apply in relation to the exercise by an approved regulator of its functions under this Part.
(2)The approved regulator must, so far as practicable, act in a way which—
(a)is compatible with the regulatory objectives, and
(b)it considers most appropriate with a view to meeting those objectives.
(3)The approved regulator must adopt best regulatory practice under which (in particular) regulatory activities should be—
(a)carried out—
(i)effectively (but without giving rise to unnecessary burdens),
(ii)in a way that is transparent, accountable, proportionate and consistent,
(b)targeted only at such cases as require action.
(4)The approved regulator must seek to ensure that its licensed legal services providers have regard to the regulatory objectives.
Commencement Information
I1S. 77 in force at 2.7.2012 by S.S.I. 2012/152, art. 2, Sch.