PART 2

Regulatory Enforcement

Advice and guidance

Primary authority advice and guidance
24A
1
The primary authority, if it is a direct primary authority, has the function of—
a
giving advice and guidance to the regulated person in relation to each partnership function;
b
giving advice and guidance, in relation to each partnership function, to other qualifying regulators as to how they should exercise it in relation to the regulated person.
2
The primary authority, if it is a co-ordinated primary authority, has the function of—
a
giving advice and guidance to the co-ordinator of the regulated group in relation to each partnership function;
b
giving advice and guidance, in relation to each partnership function, to other qualifying regulators as to how they should exercise it in relation to a member of the group.
3
The primary authority may make arrangements with the regulated person or the co-ordinator of the regulated group as to how the authority will discharge its functions under subsection (1) or (2).
4
In the case of a co-ordinated primary authority, the co-ordinator of the regulated group must notify any advice or guidance given to the co-ordinator under subsection (2)(a) to those members of the group to whom the co-ordinator considers it may be relevant.
5
Advice or guidance may be given under subsection (1)(b) or (2)(b) only with the consent of the Secretary of State.
6
Subsections (1)(b) and (2)(b) do not require advice and guidance to be given to a qualifying regulator in relation to a partnership function if it is not a relevant function of that regulator.
Pt. 2 substituted (4.5.2016 for specified purposes, 1.10.2017 in so far as not already in force) by Enterprise Act 2016 (c. 12), ss. 20(1), 44(1)(c); S.I. 2017/473, reg. 3(b)