(1) The OFT shall prepare and publish guidance in relation to how it determines, or how it proposes to determine, whether persons are fit persons as mentioned in section 25.
(2) If the OFT revises the guidance at any time after it has been published, the OFT shall publish it as revised.
(3) The guidance shall be published in such manner as the OFT thinks fit for the purpose of bringing it to the attention of those likely to be affected by it.
(4) In preparing or revising the guidance the OFT shall consult such persons as it thinks fit.
(5) In carrying out its functions under this Part the OFT shall have regard to the guidance as most recently published.