(1)The Scottish Ministers may issue and from time to time revise a code of practice in relation to the exercise of regulatory functions by a regulator.
(2)The Scottish Ministers must publish (in such manner as they consider appropriate) any code of practice issued under subsection (1).
(3)A code of practice issued under subsection (1) applies only to—
(a)such regulators as may be specified in the code, and
(b)such regulatory functions as may be so specified.
(4)A copy of a code of practice issued under subsection (1) must be issued to the regulators to whom it applies.
(5)A regulator to whom a code of practice issued under subsection (1) applies must, from the date a copy is issued to the regulator, have regard to the code—
(a)in determining any general policy or principles by reference to which the regulator exercises any regulatory functions to which the code applies, and
(b)in exercising any such regulatory functions.
(6)References in this section to a code of practice issued under subsection (1) include references to such a code as revised from time to time under that subsection.
Commencement Information
I1S. 5 in force at 30.6.2014 by S.S.I. 2014/160, art. 2(1)(2), Sch.