56.— (1) The registration body shall prepare a code (in this Part referred to as the “code”) specifying the standards of professional conduct and practice that shall be adhered to by registered professionals.

(2) The registration body shall review the code prepared by it from time to time and may amend its provisions if it thinks fit.

(3) A draft of the proposed code or any amendment of it shall be—

(a) published by the registration body, in such manner as it may determine, together with an invitation to the public and any organisation or other body which appears to the registration body to have an interest in the matter to comment on the draft before a date specified by the registration body in the invitation,

(b) submitted by the registration body to the Competition Authority with a request for the furnishing in writing (before a date specified by the registration body in the submission) by the Authority of its opinion as to whether any provision of the draft would be likely to result in competition being prevented, restricted or distorted.

(4) The registration body shall take into account any comment received by it in accordance with an invitation under subsection (3)(a) and any opinion in writing of the Competition Authority received by it in accordance with a request under subsection (3)(b) in relation to the draft code or any amendment of it before it prepares the code or the amendment.

(5) The registration body shall provide a copy of the code it has prepared to anyone who requests it, on payment of a reasonable charge, or without charge where it considers it appropriate.