111Grant or refusal of supervisor certificate

#### 111 Grant or refusal of supervisor certificate 111 Grant or refusal of supervisor certificate > > (1) The Regulatory Authority may grant or refuse to grant a supervisor certificate on an application under section 106. > > > > Note. > > > > A supervisor certificate is granted subject to conditions in accordance with section 115. > > > (2) Subject to subsection (3), the Regulatory Authority must make a decision on the application within 60 days after the Regulatory Authority received the application. > > > > Note. > > > > If further information is requested under section 110(3), the period between the making of the request and the provision of the information is not included in the 60 day period. > > > (3) The period referred to in subsection (3) may be extended by up to 30 days with the agreement of the applicant. > > > (4) The Regulatory Authority is taken to have refused to grant a supervisor certificate if the Regulatory Authority has not made a decision under subsection (1)— > > > > > (a) within the relevant time required under subsection (3); or > > > > > (b) within the period extended under subsection (4)— > > > > as the case requires.