Amendment summary
Lord Kingsland moved amendment 174, in clause 48, page 26, line 29, at end to insert: “( ) Any statement of policy issued by the Board must— (a) respect the principle that primary responsibility for regulation rests with the approved regulators; (b) ensure that the Board exercises its powers only where it considers that the action or inaction of an approved regulator is not an approach which the approved regulator could reasonably have taken; (c) provide that, save where there is an imminent risk of significant damage to the regulatory objectives, the Board will seek to resolve matters informally with the approved regulator before seeking its powers.”