[131K Statement of policy: procedure]
[131K Statement of policy: procedure]

[(1)     Before issuing a statement under section 131J, the [FCA] must publish a draft of the proposed statement in the way appearing to the Authority to be best calculated to bring it to the attention of the public.

(2)     The draft must be accompanied by notice that representations about the proposal may be made to the [FCA] within a specified time.

(3)     Before issuing the proposed statement, the [FCA] must have regard to any representations made to it in accordance with subsection (2).

(4)     If the [FCA] issues the proposed statement it must publish an account, in general terms, of—

(a)     the representations made to it in accordance with subsection (2); and

(b)     its response to them.