I'm a bit confused by that statement - does it all relate to the same thing, or are you distinguishing between "all risks" (which there is a duty to reduce...) and "significant risks" (which have to be documented, together with documentation of actions taken to reduce them)?No, there's a duty (for professionals) to reduce all risks as low as reasonably practicable, and to document the significant risks and the actions taken to reduce them.
Whatever, I would hope that a duty "to reduce all risks as low as reasonably practicable" would be interpreted with common sense, based on an assessment/estimate of the magnitude of the risk, not literally. [is that "all" word really used in regulations/legislation]. One might identify a hazard which resulted in an estimated risk of one person being injured every 200 years, and it might be 'reasonably practicable' to take actions (at a cost) to reduce that risk to an even lower level, but .....!!!
Kind Regards, John