PART 5

Inquiries and investigations

Investigations

Statements of policy
80
1
Each regulator must prepare and issue a statement of its policy with respect to the exercise of its functions under sections 73 to 79 (“the relevant sections”) and, in particular—
a
the matters it will take into account in determining whether the conditions which give rise to its duty to carry out an investigation under section 73 , 74 or 76A (as the case may be) are met, and
b
how it will carry out investigations under the relevant sections.
2
A regulator may at any time alter or replace a statement issued by it under this section.
3
If a statement issued under this section is altered or replaced by a regulator, the regulator must issue the altered or replacement statement.
4
A regulator must obtain the consent of the Treasury before issuing a statement under this section.
5
A statement issued under this section by a regulator must be published by the regulator in the way appearing to the regulator to be best calculated to bring it to the attention of the public.
6
A regulator must, without delay, give the Treasury a copy of any statement which it publishes under this section.
7
In exercising, or deciding whether to exercise, its functions under the relevant sections a regulator must have regard to any statement published by it under this section and for the time being in force.
8
A regulator may charge a reasonable fee for providing a person with a copy of a statement issued by it.
S. 80 in force at 24.1.2013 for specified purposes by S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3
S. 80 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.
Words in s. 80(1)(a) substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 106(6), 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1