(1) The PRA must establish and maintain a panel of persons (to be known as the "PRA Cost Benefit Analysis Panel") to provide advice in relation to cost benefit analyses for the purposes of section 138J.
(2) Except as provided by subsection (3), the PRA must consult the PRA Cost Benefit Analysis Panel about the following matters -
(a) [Paragraph requires commencement]
(b) the preparation of its statement of policy under section 138JB.
(3) [Subsection requires commencement]
(4) Arrangements made by the PRA under subsection (1) for the establishment and maintenance of the PRA Cost Benefit Analysis Panel must include arrangements for the Panel to -
(a) keep under review how the PRA is performing generally in carrying out its duties under section 138J(2)(a) and (5)(a), and
(b) provide to the PRA whatever recommendations the Panel thinks appropriate as a result of such review.
(5) The PRA must appoint one of the members of the PRA Cost Benefit Analysis Panel to be the chair of the Panel.
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