Related provisions for SUP 6.3.37
1 - 3 of 3 items.
If the relevant regulator24 receives an application which is incomplete (that is, if information or a document required as part of the application is not provided), section 55V(2)24 of the Act requires the relevant regulator24 to determine that incomplete application within 12 months of the initial receipt of the application.242424
A decision to grant an application will be taken by appropriately experienced staff at the relevant regulator.24 However, if the staff dealing with the application recommend that a firm's application for variation of Part 4A permission24 be either refused or granted subject to limitations or requirements or a narrower description of regulated activities than applied for, the decision will be subject to the regulator's formal decision making process.242424242424
(1) Under section 55V(1)21of the Act (Determination of applications), the relevant regulator21 has six months to consider a completed application.2121(2) If the relevant regulator21 receives an application which is incomplete, that is, where information or a document required as part of the application is not provided, section 55V(2) of the Act requires the relevant regulator21 to determine the incomplete application within 12 months of the initial receipt of the application.2121(3)