Part 1: Financial Guidance Etc Miscellaneous Section 24: Regulations dissolving the new single financial guidance body: procedure
Section 24 describes the procedure for making regulations to dissolve the single financial guidance body. It provides that the Secretary of State can only make the regulations if both Houses of Parliament approve the draft regulations within 40 days of them being laid, which is referred to as the ’40-day affirmative procedure’. It also sets out the circumstances in which the ‘super-affirmative procedure’ should apply.
	This enhanced procedure provides an extended timescale of 60 days within which both Houses of Parliament must approve the regulations before they can be made. During this 60 day period the Secretary of State must have regard to matters raised by any representations, resolution of either House of Parliament and recommendations of a committee of either House charged with reporting on the draft regulations.
	If the Secretary of State wishes to make any material changes to the draft regulations once they have been approved under the ‘super-affirmative procedure’ then revised regulations may be laid in Parliament along with a statement summarising the changes.