Section 1240B(2)

Regulations under subsection (1) may (among other things)— specify the procedure for assessing the adequacy of the third country competent authority, in relation to the authority’s ability to co-operate with the competent authority on the exchange of audit working papers and investigation reports; set out the considerations which must be taken into account, or may be taken into account, by the Secretary of State when determining— whether to grant approval or provisional approval, and in relation to the granting of provisional approval, the period of the approval; specify the procedure for the granting of an approval or a provisional approval; set out a list of third country competent authorities that have been granted an approval or a provisional approval; make provision for the amendment, suspension or withdrawal of an approval or a provisional approval.

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Source: legislation.gov.uk · retrieved 2026-09-04