(1) A Person who is required to obtain the prior written approval of the Regulator pursuant to Rule 8.8.4(1) must provide written notice to the Regulator in such form as the Regulator shall prescribe.
(2) The written notice provided under (1) must be in such form, include such information and be accompanied by such Documents as the Regulator may require.
(3) Where the Regulator receives an application under (1), it may:
(a) approve the proposed acquisition or increase in the level of control;
(b) approve the proposed acquisition or increase in the level of control subject to such conditions as it considers appropriate; or
(c) object to the proposed acquisition or increase in the level of control.
(4) The Regulator may request such further information from the notice-giver as it deems necessary for the purposes of making its decision under (3).
(5) Any approval of an application under (3)(a) or (b) will be effective for such period as the Regulator may specify, and subsequently vary, in writing.