396 Statements under section 395: consultation
396 Statements under section 395: consultation

(1)     Before issuing a statement of [its] procedure under section 395, [the regulator] must publish a draft of the proposed statement in the way appearing to [it] to be best calculated to bring [the draft] to the attention of the public.

(2)     The draft must be accompanied by notice that representations about the proposal may be made to the [regulator publishing the draft] within a specified time.

(3)     [Before a regulator issues the proposed statement of its procedure, it] must have regard to any representations made to it in accordance with subsection (2).

(4)     If the [regulator issues the proposed statement of its procedure,] it must publish an account, in general terms, of—

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