Commentary on Sections Exercise of regulatory functions Section 93: The Regulator’s procedure in relation to its regulatory functions
289.Subsection (1) requires the Regulator to determine the procedure that it will follow in discharging its “regulatory functions”. The “regulatory functions” are listed in subsection (2). They include the “reserved regulatory functions” listed in Schedule 2 and there is power under subsection (2)(q) for further functions to be added as “regulatory functions”.
290.Subsection (3) requires the Determinations Panel to determine its own procedure in relation to any exercise by it of the power to determine whether to, and the power to exercise, a regulatory function.
291.Procedures determined under subsection (1) or (3) must provide for those under section 96 (standard procedure) and section 98 (special procedure).