15(1)The IMA—U.K.
(a)must prepare, for each financial year, a plan for the exercise during that year of its functions (“the annual plan”), and
(b)may revise the annual plan.
(2)The IMA must send the proposed annual plan or any revision of it to the Secretary of State.
(3)The first annual plan must—
(a)be completed within the period of three months beginning with the day on which the membership of the IMA is first constituted in accordance with paragraph 2(1), and
(b)relate to the remainder of the financial year that begins with that day.
(4)Each subsequent annual plan must be sent to the Secretary of State not later than one month before the beginning of the financial year to which the plan relates.
Commencement Information
I1Sch. 2 para. 15 in force at 19.3.2020 by S.I. 2020/317, reg. 3(b)(i)