(1) Subject to subsection (2), a direction under section 203C must be published by the appropriate regulator in the way appearing to the appropriate regulator to be the best calculated for bringing it to the attention of -
(a) persons likely to be affected, and
(b) persons who are, in the opinion of the appropriate regulator, likely to be subject to a similar direction.
(2) Subsection (1) does not apply if the appropriate regulator is satisfied that it is inappropriate or unnecessary to publish the direction.
(3) In deciding whether to publish the direction, the appropriate regulator must consider whether publication -
(a) would be detrimental to the stability of the financial system of the United Kingdom,
(b) would prejudice, to an unreasonable degree, the commercial interests of the person concerned, or
(c) would be contrary to an international obligation of the United Kingdom.
(4) In this section "appropriate regulator" means -
(a) where the firm is a PRA-authorised person, the