Part XXVI Notices

The FCA's and PRA's procedures

396 Statements under section 395: consultation.

(1)

Before issuing a statement of F1its procedure under section 395, F2the regulator must publish a draft of the proposed statement in the way appearing to F3it to be best calculated to bring F4the draft to the attention of the public.

(2)

The draft must be accompanied by notice that representations about the proposal may be made to the F5regulator publishing the draft within a specified time.

(3)

F6Before a regulator issues the proposed statement of its procedure, it must have regard to any representations made to it in accordance with subsection (2).

(4)

If the F7regulator issues the proposed statement of its procedure, 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 F8statement of the regulator's procedure differs from the draft published by it under subsection (1) in a way which is F9, in its opinion, significant, F10it must (in addition to complying with subsection (4)) publish details of the difference.

(6)

F11The regulator publishing a draft under subsection (1) may charge a reasonable fee for providing a person with a copy of F12the draft.

(7)

This section also applies to a proposal to revise a statement of policy.