45. Determination of Application to carry out Controlled Functions
(1) The Regulator may grant the Application only if it is satisfied that the person in respect of whom the Application is made is a fit and proper person to perform the Controlled Function to which the Application relates.
(2) The Regulator may in particular —
(a) grant the Application subject to any conditions that the Regulator considers appropriate; and
(b) grant the Application so as to give Approval only for a limited period;
if it appears to the Regulator that it is desirable to do so in order to further one or more of its objectives.
(3) A person who makes an Application under section 44 may withdraw his Application by giving written notice to the Regulator at any time before the Regulator determines it.