(1) The Payment Systems Regulator must prepare and publish a statement of policy in relation to the preparation of cost benefit analyses for the purposes of section 104.

(2) The statement must provide information about -

(a) the methodology adopted in preparing cost benefit analyses;

(b) matters to which the Payment Systems Regulator has regard in determining whether section 104(8) applies;

(c) matters to which the Payment Systems Regulator has regard in determining whether section 104(10) or (11) applies in relation to the preparation of a cost benefit analysis;

(d) arrangements to ensure that representations in connection with a cost benefit analysis that are made in accordance with section 104(3)(d) are considered;

(e) cases in which the requirement to consult the FCA Cost Benefit Analysis Panel in relation to the preparation of a cost benefit analysis does not apply.

(3) The statement may include whatever other information in relation to cost benefit analyses that the Payment Systems Regulator considers appropriate.

(4) The Payment Systems Regulator may alter or replace a statement published under this section.