S.L. 545.20 Art. 11Conditionsrelating to the granting and renewal of authorisations.

(1) The Regulator shall approve an application for the issue of an authorisation or, if an authorisation has been issued, it shall approve an application for the renewal of an authorisation, when:

(a) the Regulator considers that the applicant has satisfied the criteria required or requested to be met in regulation 10;

(b) the application contains all such information requested by the Regulator in the application form or any other additional information that the Regulator may request from the applicant for the purpose of determining the application for the authorisation;

(c) the application is accompanied by such application fee as specified in accordance with these regulations.

(2) The authorised provider shall inform the Regulator of any changes relating to his service activity which result in the conditions for his authorisation no longer being met and the creation of subsidiaries whose activities fall within the scope of the authorisation and, or the authorisation scheme.