Codes, guidelines, etc., by Authority
76.—(1)  The Authority may issue, and in its discretion publish by notification in the Gazette or in any other manner it considers appropriate, such codes, guidelines, policy statements, practice notes and no‑action letters as it considers appropriate for providing guidance —
(a)in furtherance of its regulatory objectives;
(b)in relation to any matter relating to any of its functions under this Act; or
(c)in relation to the operation of any of the provisions of this Act.
(2)  The Authority may, at any time, amend or revoke the whole or any part of any code, guideline, policy statement, practice note or no‑action letter issued under this section.
(3)  Where amendments are made under subsection (2) —
(a)the other provisions of this section apply, with the necessary modifications, to such amendments as they apply to the code, guideline, policy statement, practice note or no‑action letter; and
(b)any reference in this Act or any other written law to the code, guideline, policy statement, practice note or no‑action letter, however expressed, is (unless the context otherwise requires) a reference to the code, guideline, policy statement, practice note or no‑action letter as so amended.
(4)  Any failure by a person to comply with any provision of a code, guideline, policy statement or practice note issued under this section to the person does not of itself render that person liable to criminal proceedings, but any such failure may, in any proceedings, whether civil or criminal, be relied upon by any party to the proceedings as tending to establish or negate any liability that is in question in the proceedings.
(5)  The issue by the Authority of a no‑action letter does not of itself prevent the institution of any proceedings against any person for the contravention of any provision of this Act.
(6)  Any code, guideline, policy statement or practice note issued under this section may be of general or specific application, and may specify that different provisions of such code, guideline, policy statement or practice note apply to different circumstances or provide for different cases or classes of cases.
(7)  To avoid doubt, any code, guideline, policy statement, practice note or no‑action letter issued under this section is not to be treated as subsidiary legislation.
(8)  In this section, “no‑action letter” means a letter written by the Authority to a person to the effect that, if the facts are as represented by the person, the Authority will not institute proceedings against the person in respect of a particular state of affairs or particular conduct.