[(1) This section applies where the [appropriate regulator] notifies a recognised body that it is calling in a proposal to make regulatory provision.
(2) The [appropriate regulator] must publish a notice—
(a) giving details of the proposed provision,
(b) stating that it has called in the proposal in order to consider whether to disallow it, and
(c) specifying a period during which representations with respect to that question may be made to it.
(3) The [appropriate regulator] may extend the period for making representations.
(4) The [appropriate regulator] must notify the body of its decision whether to disallow the provision not later than
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