(1) The Bank may fix a maximum period within which a proposed acquisition shall be completed, and may extend any period so fixed.
(2) If the Bank has given notice in relation to a proposed acquisition that the Bank does not oppose the acquisition, the Bank may impose a condition or a requirement or both, being a condition or a requirement that the Bank considers necessary for the proper and orderly regulation and supervision of insurance undertakings, and may at any time revoke or vary any condition or requirement so imposed.