[(1) A recognised body that proposes to make any regulatory provision must give written notice of the proposal to the [appropriate regulator] without delay.
(2) The [appropriate regulator] may by rules under section 293 (notification requirements)—
(a) specify descriptions of regulatory provision in relation to which, or circumstances in which, the duty in subsection (1) above does not apply, or
(b) provide that the duty applies only to specified descriptions of regulatory provision or in specified circumstances.
(3) The [appropriate regulator] may also by rules under that section—
(a) make provision as to the form and contents of the notice required, and
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