125 Statement of policy: procedure.U.K.
(1)Before issuing a statement of policy under section 124, the [F1FCA] must publish a draft of the proposed statement in the way appearing to the [F1FCA] to be best calculated to bring it to the attention of the public.
(2)The draft must be accompanied by notice that representations about the proposal may be made to the [F1FCA] within a specified time.
(3)Before issuing the proposed statement, the [F1FCA] must have regard to any representations made to it in accordance with subsection (2).
(4)If the [F1FCA] issues the proposed statement it must publish an account, in general terms, of—
(a)the representations made to it in accordance with subsection (2); and
(b)its response to them.
(5)If the statement differs from the draft published under subsection (1) in a way which is, in the opinion of the [F1FCA], significant, the [F1FCA] must (in addition to complying with subsection (4)) publish details of the difference.
(6)The [F1FCA] may charge a reasonable fee for providing a person with a copy of a draft published under subsection (1).
(7)This section also applies to a proposal to alter or replace a statement.
Textual Amendments
F1Word in ss. 121-130A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 9(1)(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.