Sch 2A para 16
(1) Where the appropriate UK regulator receives a notification, it must acknowledge receipt in writing without delay. (2) The period for considering a notification is— (a) so far as it relates to an activity that is to be carried on through a branch in the United Kingdom, the period of two months beginning with the day on which the appropriate UK regulator receives the notification, and (b) so far as it relates to any other activity, the period of one month beginning with that day. (3) If, before the end of the period described in sub-paragraph (2), the appropriate UK regulator gives the Gibraltar-based person a confirmation notice in respect of an approved activity specified in the notification, then the period for considering the notification as it relates to the activity ends when the notice is given. (4) A “confirmation notice” is a written notice confirming that the person has a Schedule 2A permission in relation to the approved activity. (5) A confirmation notice may relate to more than one activity.