s 62 Applications for approval: procedure and right to refer to Tribunal.
(1) If the regulator to which an application is made under section 60 (“an application”) decides to grant the application, it must give written notice of its decision to each of the interested parties. (2) If the regulator to which an application is made proposes to refuse the application , or to grant the application subject to conditions or for a limited period (or both) , it must give a warning notice to each of the interested parties. (3) If the regulator to which an application is made decides to refuse the application , or to grant the application subject to conditions or for a limited period (or both) , it must give a decision notice to each of the interested parties. (4) If the regulator to which an application is made decides to refuse the application , or to grant the application subject to conditions or for a limited period (or both) , each of the interested parties may refer the matter to the Tribunal. (5) “The interested parties”, in relation to an application, are— (a) the applicant; (b) the person in respect of whom the application is made (“ A ”); and (c) the person by whom A’s services are to be retained, if not the applicant.