(1) The Minister may consult the Commission regarding proposals for legislation relating to one or both of the following:

(a) consumer protection and welfare; or

(b) competition.

(2) The Commission shall -

(a) keep under review the relevant statutory provisions,

(b) submit, from time to time, to the Minister or such other Minister of the Government having responsibility for any other statutory provisions relating to, or which impact on, consumer protection and welfare or competition, or both, any proposals that it considers appropriate relating to any of the relevant statutory provisions or any other statutory provisions or for making or revoking any instruments under those provisions,

(c) undertake such reviews of the relevant statutory provisions as the Minister may direct, and

(d) assist in the preparation of such draft legislation as the Minister may direct.