Commentary on Sections of the Act Part 4 – Financial Affairs of Regulated Institutions Section 29 – Procedure if draft Code not approved by Welsh Ministers
87.A draft of the first Code or a draft of a revised Code must be approved by the Welsh Ministers before it can be published by HEFCW. If the Welsh Ministers make a decision not to approve a draft submitted to them by HEFCW, they must give HEFCW notice of that decision and the reasons for it. This will trigger requirements in terms of the preparation of a new draft by HEFCW and its submission to the Welsh Ministers for approval or (in the case of a proposed revised Code) a decision by HEFCW that the Code will not be revised.