Section 17.

 1. Applications 

(1) An application for authorisation -

(a) shall be made in such manner as the Central Bank may specify, either generally or in any particular case; and

(b) shall be accompanied by such information as the Central Bank may require, either generally or in any particular case, in order to decide whether or not to take a draft decision to propose to the ECB to grant an authorisation and whether with or without conditions.

(2) If required to do so by notice from the Central Bank given at any time after an application for authorisation has been made and before a decision has been reached on the application, the applicant shall furnish to the Central Bank such additional information as it may require in order to decide on the application.

(3) If the Central Bank proposes to reject an application for authorisation it shall serve a notice on the applicant stating -

(a) that it proposes to reject an application for authorisation,

(b) the grounds for the proposed rejection, and