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After the date specified in a notice under subregulation (1), the regulator must —
(a) if the applicant has made a submission in relation to the proposed refusal to grant the licence — consider that submission; and
(b) whether or not the applicant has made a submission — decide whether to grant or refuse to grant the licence; and
(c) within 14 days after making that decision, give the applicant written notice of the decision, including the reasons for the decision.
Note for this subregulation:
A decision to refuse to grant a licence is a reviewable decision (see regulation 676).