[3B Regulatory principles to be applied by both regulators]
[3B Regulatory principles to be applied by both regulators]

[(1)     In relation to the regulators, the regulatory principles referred to in section 1B(5)(a) and [2H(2)] are as follows—

(a)     the need to use the resources of each regulator in the most efficient and economic way;

(b)     the principle that a burden or restriction which is imposed on a person, or on the carrying on of an activity, should be proportionate to the benefits, considered in general terms, which are expected to result from the imposition of that burden or restriction;

[. . .]