Part 2: Regulators Application of regulators' principles and code Section 18: Application of regulators' principles and code: removal of restrictions
This section will repeal section 24(5) of the LRRA. Section 24(5) currently prevents the regulatory functions of Ofgem, Ofcom, the ORR and Ofwat from being subject to the duty to have regard to the five regulatory principles set out in section 21 of the LRRA and the Regulators’ Code.
	The section will not of itself subject these regulators to the duty to have regard to the five regulatory principles or the Regulators’ Code. This can only be done via secondary legislation following consultation (i.e. in accordance with section 24 of the LRRA).
	The section extends to the United Kingdom and, as a result of section 44(2), will come into force two months after the day on which this Bill became an Act.