Functions and duties

There is an important distinction between our statutory duties and statutory functions.

We always act within our powers and will not achieve any objective using means which are outside of our legal functions.

Functions

Statutory functions are the legal powers Parliament has given us to perform our duties.

Duties

Statutory duties are the objectives we must aim for when exercising our functions.

Memoranda of understanding

We have agreements in place with some government departments to promote effective co-ordination and co-operation of our regulatory functions i.e. for consistency.

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