20. (1) The Regulator shall prepare and submit to the Minister for the Minister’s approval, with or without amendment, a strategy statement in respect of the period of 3 years immediately following the year in which the strategy statement is so submitted—

(a) not later than 6 months after the establishment day, and

(b) thereafter not earlier than 6 months before, and not later than, the expiration of each subsequent period of 3 years following the establishment day.

(2) (a) The Regulator shall, in the preparation of a strategy statement, have regard to the need to ensure the most effective and efficient use of the resources available to it.

(b) A strategy statement shall include—

(i) a statement setting out the approach to be taken in respect of each of the Regulator’s functions referred to in section 9,

(ii) a statement specifying the key objectives, outputs and related strategies, including use of resources, of the Regulator,

(iii) human resources activities (including training and development) to be undertaken for the staff of the Regulator,

(iv) the organisational structure of the Regulator, including corporate support and information technology and the improvements proposed to promote efficiency of operation and customer service and in general to support the strategy statement,

(v) except in the case of the strategy statement first prepared under this section, a review of the implementation of the immediately preceding strategy statement,

(vi) specification of the manner in which the Regulator proposes to assess the effectiveness of the implementation of the strategy statement, and

(vii) any other matters that the Minister may from time to time direct.

(3) A strategy statement shall be prepared in a form and manner that is in accordance with any directions issued from time to time by the Minister.

(4) As soon as practicable after approving a strategy statement, the Minister shall cause a copy of it to be laid before each House of the Oireachtas.

(5) The Regulator shall ensure that the strategy statement is published on its website as soon as practicable after copies of the strategy statement are laid before both Houses of the Oireachtas in accordance with subsection (4).