(1) [Each regulator must] prepare and issue a statement of its policy with respect to—
[(a) the imposition of penalties, suspensions[, conditions or limitations] under section 66;
(b) the amount of penalties under that section; . . .
(c) the period for which suspensions or [conditions] under that section are to have effect][; and
(d) the period for which approvals under section 59 are to have effect as a result of a limitation under section 66].
(2) [A regulator's] policy in determining what the amount of a penalty should be[, or what the period for which a suspension or restriction is to have effect
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