Dealing in investments as principal: statement of policy8
1
The PRA must prepare and issue a statement of its policy with respect to—
a
the exercise of the power to designate under article 3;
b
the discharge of its duty to review designations under article 5; and
c
the exercise of the power to withdraw a designation under article 6.
2
The statement of policy must include—
a
an indication of the matters that the PRA may take into account in exercising its powers under article 3 or 6 or in discharging its duty under article 5; and
b
the procedures that the PRA proposes to follow in relation to the exercise of its powers under article 3 or 6.
3
The PRA may at any time alter or replace a statement issued under this article.
4
If a statement issued under this article is altered or replaced, the PRA must issue the altered or replaced statement.
5
A statement under this article must be published by the PRA in the way appearing to it to be best calculated to bring it to the attention of the public.
6
In exercising or deciding whether to exercise its powers under article 3 or 6 in any particular case, and in discharging its duty under article 5, the PRA must have regard to any statement published under this article and for the time being in force.
7
The PRA must, without delay, give the Treasury a copy of any statement which the PRA publishes under this article.