88Determination of application for variation

88 Determination of application for variation

88 Determination of application for variation

(1) Subject to this section, the Regulator must, within the relevant period—

(a) if the Regulator is satisfied as to the matters referred to in section 85 (so far as they are applicable to the proposed variation), notify the applicant that registration has been varied, with or without conditions or restrictions; or

(b) if the Regulator is not so satisfied—notify the applicant that the application has been refused.

(2) Notification under this section—

(a) must be in writing and given to the applicant; and

(b) if registration has been varied, must specify—

(i) the prescribed details of the applicant; and

(ii) the variation to the registration; and

(iii) any conditions and restrictions imposed by the Regulator on the registration as varied; and

(iv) any other prescribed information; and

(c) if a condition or restriction has been imposed on the registration as varied, must include—

(i) the reasons for imposing the condition or restriction; and

(ii) information about the right of review under Part 7; and

(d) if the application has been refused, must include—

(i) the reasons for the decision to refuse to grant the application; and

(ii) information about the right of review under Part 7; and

(e) if the relevant period in relation to an application has been extended, must include information about the right of review under Part 7.

(3) In this section—

relevant period, in relation to an application, means—

(a) 6 months after the application was received by the Regulator; or

(b) if the Regulator requested further information, 6 months, or such other period, as is agreed between the Regulator and the applicant, after the Regulator receives the last information so requested; or