As soon as reasonably practicable after the end of the review period, the Secretary of State must—
carry out a review of the provisions of this Part, and
set out the conclusions of the review in a report.
The report must, in particular—
set out the objectives intended to be achieved by the regulatory system established by those provisions,
assess the extent to which those objectives have been achieved, and
assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposed less regulation.
The review period is the period of 5 years beginning with the day on which the provisions of this Part come generally into force.
The Secretary of State must lay the report before Parliament.