In paragraph 16 (reports), after sub-paragraph (1) insert—

“(1A)

The report must, in particular—

(a)

explain how the Commission has discharged its functions during the year in a manner which, in accordance with section 3(1) of the 2025 Act—

(i)

is compatible with the regulatory objectives (to be construed in accordance with sections 2 and 3 of the 2025 Act), and

(ii)

it considers is most appropriate to meet those objectives,

(b)

provide a list of any directions given during the year to—

(i)

a relevant professional organisation under section 24(6),

(ii)

a relevant professional organisation under section 40A(6),

(c)

include—

(i)

information about compensation awarded during the year to complainers following services complaints, and

(ii)

so far as it is known to the Commission, information about whether compensation awarded during the year has been paid,

(d)

provide information about—

(i)

the work of each review committee established by the Commission under paragraph 11(1)(a), including the number of applications for review that each review committee dealt with during the year,

(ii)

the steps taken by the Commission to ensure that each review committee is able to act independently of the Commission when considering and determining each application for review.

(1B)

Before preparing the report, the Commission must consult—

(a)

the Lord President,

(b)

the independent advisory panel of the Commission,

(c)

each category 1 and category 2 regulator.”.