Schedule 1, Part 3, paragraph 15

Before a regulator issues a statement under paragraph 14, the regulator must publish a draft of the proposed statement in the way appearing to the regulator to be best calculated to bring it to the attention of the public. The draft must be accompanied by a notice that representations about the proposal may be made to the regulator within a specified time. Before issuing the proposed statement the regulator must have regard to any representations made to it in accordance with sub-paragraph (2). If the regulator issues the proposed statement it must publish an account, in general terms, of— the representations made to in accordance with sub-paragraph (2); and its response to them. If the statement differs from the draft published under sub-paragraph (1) in a way which is, in the opinion of the regulator, significant, the regulator must (in addition to complying with sub-paragraph (4)) publish details of the difference. A regulator may charge a reasonable fee for providing a person with a copy of a draft published by it under sub-paragraph (1). This paragraph also applies to a proposal to alter or replace a statement.

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