330 Consultation
330 Consultation

(1)     Before giving a direction under section 328(1), the [FCA] must publish a draft of the proposed direction.

(2)     The draft must be accompanied by—

(a)     a cost benefit analysis; and

(b)     notice that representations about the proposed direction may be made to the [FCA] within a specified time.

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

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

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

(b)     its response to them.

(5)     If the direction differs from the draft published under subsection (1) in a way which is, in the opinion of the [FCA], significant—