Before issuing a statement of policy under section 143Y, the FCA must publish a draft of the proposed statement in the way appearing to the FCA to be best calculated to bring it to the attention of the public.
The draft must be accompanied by notice that representations about the proposal may be made to the FCA within a specified time.
Before issuing the proposed statement, the FCA must have regard to any representations made to it in accordance with subsection (2).
If the FCA issues the proposed statement, it must publish an account in general terms of—
If the statement differs from the draft published under subsection (1) in a way which is, in the FCA's opinion, significant, the FCA must publish details of the difference (in addition to complying with subsection (4)).
The FCA may charge a reasonable fee for providing a person with a copy of a draft published under subsection (1).
This section also applies to a proposal to alter or replace a statement.