reg 108 Review
(1) The Treasury must from time to time— (a) carry out a review of the regulatory provision contained in these Regulations; and (b) publish a report setting out the conclusions of the review. (2) The first report must be published before 26th June 2022. (3) Subsequent reports must be published at intervals not exceeding 5 years. (4) Section 30(3) of the Small Business, Enterprise and Employment Act 2015 (provision for review) requires that a review carried out under this regulation must, so far as is reasonable, have regard to how— (a) the emission allowance auctioning regulation; (b) the fourth money laundering directive; and (c) the funds transfer regulation; are implemented in other member States. (5) Section 30(4) of the Small Business, Enterprise and Employment Act 2015 requires that a report published under this regulation must, in particular— (a) set out the objectives intended to be achieved by the regulatory provision referred to in paragraph (1)(a); (b) assess the extent to which those objectives are achieved; (c) assess whether those objectives remain appropriate; and (d) if those objectives remain appropriate, assess the extent to which they could be achieved in another way which involves less onerous regulatory provision. (6) In this regulation, “ regulatory provision ” has the same meaning as in sections 28 to 32 of the Small Business, Enterprise and Employment Act 2015 (see section 32 of that Act).