(1) The Treasury must from time to time -
(a) carry out a review of regulations 2 to 26,
(b) publish a report setting out the conclusions of the review.
(2) The first report under this regulation must be published before 5th December 2023.
(3) Subsequent reports must be published at intervals not exceeding five years.
(4) [deleted]
(5) The report must in particular -
(a) set out the objectives intended to be achieved by the regulatory system established by regulations 2 to 26;
(b) assess the extent to which those objectives are achieved, and
(c) assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposes less regulation.