There is a need for the Scheme Rules to be updated or reviewed on a regular basis and in a transparent manner. The procedure is as follows:
- The rules are reviewed once a year.
- The rules can be reviewed more frequently only under exceptional circumstances and when agreed with the Technical Advisory Committee (TAC) (e.g., to reflect changes to PAS 110 and the Quality Protocol, new legislation etc.).
- All comments regarding the rules made by operators or any other stakeholders after the publication should be gathered by REAL and considered during the next review process.
- All comments must be provided in REAL’s consultation template.
- The consultation should include proposed transitional arrangements.
- REAL will publish the draft revised version of the scheme rules and send it to scheme participants, members of the TAC, which include the CBs, the regulators, and the other stakeholders.
- All responses must be provided in REAL’s consultation template.
- The consultation period must not be shorter than 6 weeks.
- REAL will collate, review, and consult with the TAC, responses to the consultation.
- REAL will provide a written response to the consultation which is made publicly available.
- In the event of a dispute, REAL will liaise with the TAC to establish an agreement.
Transitional period
The transitional period may vary depending on the circumstances.
A reasonable transitional period must be established as soon as possible and clearly stated with the publication of the new rules.