501Refusal to grant licence—process

501  Refusal to grant licence—process  (1) If the regulator proposes to refuse to grant a licence, the regulator must give the applicant a written notice:  (b) advising the applicant that the applicant may, by a specified date (being not less than 28 days after giving the notice), make a submission to the regulator in relation to the proposed refusal.  (a) if the applicant has made a submission in relation to the proposed refusal to grant the licence—consider that submission; and  (b) whether or not the applicant has made a submission—decide whether to grant or refuse to grant the licence; and  (c) within 14 days after making the decision, give the applicant written notice of the decision, including the reasons for the decision. Note: A refusal to grant a licence is a reviewable decision (see regulation 676).