Legislation – Enterprise Act 2016

“110ADuty under section 108: performance reports and information requirements

(1)

A person with regulatory functions to which section 108 applies (a “regulator”) must prepare and publish a performance report in respect of each reporting period.

(2)

A performance report is a report about the effect of performance of the duty under section 108(1) on the way the regulator exercised its functions to which that section applies (its “relevant functions”).

(3)

A performance report must include—

(a)

the regulator’s assessment—

(i)

of the views of persons carrying on businesses about the effect mentioned in subsection (2), and

(ii)

of the impact on such persons of that effect;

(b)

a description of the effect the regulator expects performance of the duty under section 108(1) to have on the way it exercises its relevant functions in future.

(4)

In preparing and publishing a performance report a regulator must follow any guidance given from time to time by a Minister of the Crown, unless the regulator considers that there is a good reason not to do so.

(5)

Guidance under subsection (4) may, in particular, include guidance as to—

(a)

information or other matters to be included in a performance report;

(b)

information to be obtained for the purposes of a performance report;

(c)

the means by which information should be obtained for the purposes of a performance report.

(6)

A performance report must be published no later than three months after the end of the reporting period concerned.

(7)

A reporting period is a period of 12 months, except as provided by subsection (12)(b).

(8)

A new reporting period begins immediately after the end of each reporting period.

(9)

A regulator must give to a Minister of the Crown any information that the Minister may from time to time request which relates to—

(a)

the effect of performance of the duty under section 108(1) on the way the regulator performs, has performed, or is expected to perform, its relevant functions,

(b)

the views of persons carrying on businesses about the effect mentioned in paragraph (a) or the impact on such persons of that effect, or

(c)

any aspect of a performance report in relation to which it appears to the Minister that guidance under subsection (4) has not been followed.

(10)

A regulator is not required by this section to include in a performance report, or to give to a Minister of the Crown, information about the exercise of functions in relation to a particular person.

(11)

This section is subject to any express restriction on disclosure imposed by another enactment (ignoring any restriction which allows disclosure if authorised by an enactment).

(12)

A regulator’s first reporting period—

(a)

begins—

(i)

on the day on which section 16 of the Enterprise Act 2016 comes into force, or

(ii)

in the case of a person that becomes a regulator (see subsection (1)) after that day, on the day on which the person becomes a regulator;

(b)

is of a length determined by the regulator, but is not to exceed 12 months.”