The regulator must—
prepare a strategic plan, and
submit it to the Secretary of State for approval.
A "strategic plan" is a plan setting out how the regulator proposes to carry out its building functions in the period to which the plan relates.
Before submitting it, the regulator must consult—
the committee mentioned in section 11 (residents' panel), and
such other persons as the regulator considers appropriate.
The Secretary of State may approve the plan, with or without modifications.
Before approving the plan with modifications, the Secretary of State must consult the regulator.
The regulator must publish the approved plan, and act in accordance with it.
The first plan—
must be submitted as soon as reasonably practicable after this section comes into force, and
must relate to a period ending with the third 31 March to occur after the day on which it is submitted.
If the committee mentioned in section 11 has not been established at the time the first plan is prepared—
subsection (3) has effect as if it did not require the committee to be consulted before the plan is submitted, and
the committee must be consulted in relation to the first approved plan as soon as reasonably practicable.
Any other plan—
must be submitted before the end of the period to which the most recent approved plan relates ("the current period"), and
must relate to the period of three years, or such other period as the Secretary of State and the regulator may agree, beginning immediately after the end of the current period.