694Notice of decision in relation to exemption

694 Notice of decision in relation to exemption

694 Notice of decision in relation to exemption

(1) The regulator must give a copy of the exemption document referred to in section 692 within 14 days after making the decision to grant the exemption to—

(a) if a person applied for the exemption—the applicant, or

(b) if the regulator granted the exemption on the regulator’s own initiative—each person, other than persons to whom section 695 applies, to whom the exemption will apply.

(2) If the regulator grants an exemption under section 689A(1), the regulator must notify each corresponding regulator that the exemption is granted.