2.—(1) The Commission shall not take any steps in the conduct of a formal investigation until—N.I.
(a)terms of reference for the investigation have been drawn up; and
(b)notice of the holding of the investigation and the terms of reference has been served or published as required by sub-paragraph (3) or (4).
(2) The terms of reference for the investigation shall be drawn up (and may be revised)—
(a)if the investigation is held at the direction of the Office, by the Office after consulting the Commission; and
(b)in any other case, by the Commission.
(3) Where the terms of reference confine the investigation to activities of one or more named persons, notice of the holding of the investigation and the terms of reference shall be served on each of those persons.
(4) Where the terms of reference do not confine the investigation to activities of one or more named persons, notice of the holding of the investigation and the terms of reference shall be published in such manner as appears to the Commission appropriate to bring it to the attention of persons likely to be affected by it.
(5) If the terms of reference are revised, this paragraph applies again in relation to the revised investigation and its terms of reference.