on the Regulator’s own initiative, but after consultation with affected stakeholders or a body representing such stakeholders; or
on the application, in the prescribed form, by a body which is, in the opinion of the Regulator, sufficiently representative of any class of bodies, or of any industry, profession, or vocation as defined in the code in respect of such class of bodies or of any such industry, profession or vocation.
The Regulator must give notice in the Gazette that the issuing of a code of conduct is being considered, which notice must contain a statement that—
the details of the code of conduct being considered, including a draft of the proposed code, may be obtained from the Regulator; and
submissions on the proposed code may be made in writing to the Regulator within such period as is specified in the notice.
The Regulator may not issue a code of conduct unless it has considered the submissions made to the Regulator in terms of subsection (2)(b), if any, and is satisfied that all persons affected by the proposed code have had a reasonable opportunity to be heard.
The decision as to whether an application for the issuing of a code has been successful must be made within a reasonable period which must not exceed 13 weeks.