Article 10. Public Consultation on Significant TIFC Acts

1. Before enacting a Significant TIFC Act, the relevant TIFC Body shall conduct a public consultation in accordance with this Article.

2. The consultation process for a Significant TIFC Act shall include:

1) publication of a consultation paper setting out the proposed TIFC Act, its policy rationale, the key questions on which feedback is sought, and the period for consultation;

2) due consideration of all responses received; and

3) publication of a response to consultation summarising the material feedback received and explaining how it has been taken into account in the final TIFC Act.

3. A TIFC Body may enact a Significant TIFC Act without prior consultation where it determines in writing that urgent circumstances require immediate enactment provided that the TIFC Body shall state its reasons for urgency in the text of the TIFC Act at the time of enactment and shall conduct a public consultation on the enacted measure within sixty (60) days of enactment and shall amend the measure if and as appropriate after consultation.

4. The TIFC Board may, by TIFC Act, establish additional requirements as to the length of consultation periods, the form and depth of consultation and of regulatory impact assessment, and the proportionate scaling of the requirements of this Article and of Article 11 of this Constitutional Law according to the significance of the proposed Significant TIFC Act.

5. The provisions of this Article and Article 11 of this Constitutional Law shall not apply to the TIFC Acts enacted within 12 months following the entry into force of this Constitutional Law.