67Time for making decision on application

67 Time for making decision on application

(1) The Regulator must make a decision on the application before the end of the period (the decision period) of 60 days after the day the application is made. Extensions of decision period (2) The Regulator may, by written notice to the licence holder, extend the decision period by a period specified in the notice. (3) The notice must set out the reasons for the extension.

Note: For example, the Regulator may extend the decision period if the Regulator gives the licence holder a notice under subsection 68(1) (requiring further information), subsection 69(1) (requiring the licence holder to amend and resubmit the plan) or subsection 75(2) (proposing to refuse to grant the application), or for other reasons.

(4) To avoid doubt, the Regulator may extend the decision period more than once. Failure to make decision within decision period does not affect validity (5) A failure by the Regulator to comply with subsection (1) does not affect the validity of any decision made on the application or anything done by the Regulator in dealing with the application.