The Secretary of State may enter into an agreement with another person for an approval function of the Secretary of State to be exercisable by the Secretary of State concurrently—
In this section and sections 12ZB and 12ZC, "approval function" means—
An agreement under this section may, in particular, provide for an approval function to be exercisable by the other party—
An agreement under this section may provide for an approval function to be exercisable by the other party—
The other party to an agreement under this section must comply with such instructions as the Secretary of State may give with respect to the exercise of the approval function.
An instruction under subsection (5) may require the other party to cease to exercise the function to such extent as the instruction specifies.
The agreement may provide for the Secretary of State to pay compensation to the other party in the event of an instruction such as is mentioned in subsection (6) being given.
An instruction under subsection (5) may be given in such form as the Secretary of State may determine.
The Secretary of State must publish instructions under subsection (5) in such form as the Secretary of State may determine; but that does not apply to an instruction such as is mentioned in subsection (6).
An agreement under this section may provide for the Secretary of State to make payments to the other party; and the Secretary of State may make payments to other persons in connection with the exercise of an approval function by virtue of this section.