(1) A mandatory standard determined by the Commission under this Chapter shall be consistent with—
 

(a) the objects of this Act; 

 

(b) any relevant instrument under this Act; or

 

(c) any relevant provisions of this Act or its subsidiary legislation.
 

(2) A mandatory standard determined by the Commission under subsection (1) shall specify the class of licensees who are subject to the mandatory standard.

 

(3) A person subject to a mandatory standard shall comply with the mandatory standard.