(1) The Secretary of State must from time to time -

(a) carry out a review of regulations 4(1) [Regulation 4(1) was amended by S.I. 2013/2005, regulation 4(1) and (4).] and 9(1) and Part 1 of the Schedule [The Schedule was amended by S.I. 2015/980, regulation 42(1) and (5).],

(b) set out the conclusions of the review in a report, and

(c) publish the report.

(2) The report must, in particular -

(a) set out the objectives intended to be achieved by those provisions,

(b) assess the extent to which those objectives are achieved,

(c) assess whether those objectives remain appropriate, and

(d) if those objectives remain appropriate, assess the extent to which they could be achieved in another way which involves less onerous regulatory provision.

(3) In carrying out the review, the Secretary of State must have regard to how the provisions of Directive 2013/34/EU of 26 June 2013 on the annual financial statements etc. of certain types of undertakings are implemented in other Member States.