[(1) Where notice of a proposal to make regulatory provision is required to be given to the [appropriate regulator] under section 300B, the provision must not be made—
(a) before that notice is given, or
(b) subject to the following provisions of this section, before the end of the initial period.
(2) The initial period is—
(a) the period of 30 days beginning with the day on which the [appropriate regulator] receives notice of the proposal, or
(b) if any consultation period announced by the body in relation to the
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