(1) This article applies where -

(a) an applicant (within the meaning of article 4(1)) has submitted, before commencement, an application to the Authority under section 60 of the Act (applications for approval); and

(b) the application has not been finally decided.

(2) The person in respect of whom the application is made is to be treated as having at commencement the Authority’s approval for the purposes of section 59 of the Act (approval for particular arrangements) in relation to the functions to which the application relates.

(3) An approval which an applicant is to be treated as having is referred to in this Order as an "interim approval".

(4) Without prejudice to the exercise by the Authority of its powers under Part 4A of the Act an interim approval lapses when the application has been finally decided.

(5) In this article, "finally decided" means -

(a) when the application is withdrawn;