Part 1: Financial Guidance Etc Miscellaneous Section 23: Power to dissolve the single financial guidance body
Section 23 requires the Secretary of State to keep under review the question of whether the single financial guidance body should be dissolved and gives the Secretary of State the power to dissolve the single financial guidance body through regulations. Before laying any draft regulations, the Secretary of State must carry out a public consultation beginning at least 12 weeks before any draft regulations are laid.
	Section 23 specifies that the regulations may make provision for the transfer of various matters, including the body’s functions and assets, to the Secretary of State or any other person. It also makes provision for the Secretary of State to compensate anyone who suffers financially as a result of the dissolution of the body.