S.L. 545.12 Art. 27Independence of the Regulator.

The Regulator when carrying out the regulatory tasks conferred upon it by these regulations shall:

(a) be functionally independent from any other public or private entity;

(b) ensure that its staff and the persons responsible for its management:

(i) act independently from any market interest; and

(ii) do not seek or take direct instructions from any government or other public or private entity when carrying out the regulatory tasks: Provided that this requirement is without prejudice to close cooperation, as appropriate, with other relevant national authorities or to general policy guidelines issued by the Government not related to the regulatory powers and duties under regulation 21.