In light of the wide and varied nature of the body to be regulated, the group acknowledged that a number of different approaches could be adopted by the regulator. Essentially, the matter has been left for consultation under the scheme envisaged in the legislation with the relevant interests. Under the new legislation, which will be published later this year, the consultative panels – both representing consumers and the industry – will be established to deal with the regulatory authority. These panels will be established under the legislation to keep under review the operations of the authority.