Member

Similarly, the clause also ensures that the regulator revokes an order if the parties reach a new, different agreement. This again demonstrates the Government’s commitment to prioritising and encouraging industry-led agreements wherever possible. Whenever the regulator revokes an order, it will need to notify the parties and set out the reasons for its decision, continuing the underlying commitment to transparency at every stage of this process. For the backstop process to be viable as a regulatory solution, it needs to be legally enforceable.