The Secretary of State must from time to time—
carry out a review of regulations 2 and 3,
set out the conclusions of the review in a report, and
publish the report.
The report must in particular—
set out the objectives intended to be achieved by the regulatory system established by those regulations,
assess the extent to which those objectives are achieved, and
assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposes less regulation.
The first report under this regulation must be published before the end of the period of five years beginning with the day on which regulations 2 and 3 come into force.
Reports under this regulation are afterwards to be published at intervals not exceeding five years.