(1) The Secretary of State must from time to time—
(a) carry out a review of these Regulations;
(b) set out the conclusions of the review in a report; and
(c) publish the report.
(2) The report must in particular—
(a) set out the objectives intended to be achieved by these Regulations;
(b) assess the extent to which those objectives are achieved; and
(c) assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposes less regulation.
(3) The first report under this regulation must be published before the end of the period of 5 years beginning with the day on which these Regulations come into force.
(4) Reports under this regulation are afterwards to be published at intervals not exceeding 5 years.