(1) Before issuing a statement of policy under section 192H, a regulator ("the issuing regulator") must -
(a) consult the other regulator and, where the issuing regulator is the FCA, the Bank of England, and
(b) publish a draft of the proposed statement in the way appearing to the issuing regulator to be best calculated to bring it to the attention of the public.
(2) The draft must be accompanied by notice that representations about the proposal may be made to the issuing regulator within a specified time.
(3) Before issuing the proposed statement, the issuing regulator must have regard to any representations made to it in accordance with subsection (2).
(4) If the issuing regulator issues the proposed statement it must publish an account, in general terms, of -
(a) the representations made to it in accordance with subsection (2), and
(b) its response to them.
(5) If the statement differs from the draft published under subsection (2) in a way which is, in the opinion of the is
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