The supervisory authority shall confirm receipt of the application of the insurance or reinsurance undertaking.
An application shall be considered complete by the supervisory authority if the application covers all the matters set out in Articles 2, 3 and 4.
The supervisory authority shall confirm if the application is considered complete or not on a timely basis and at least within 30 days of the date of receipt of the application.
The supervisory authority shall ensure that the period of time within which it decides on an application is reasonable and does not exceed 3 months from the receipt of a complete application unless there are exceptional circumstances which are communicated in writing to the insurance or reinsurance undertaking on a timely basis.
Where there are exceptional circumstances, the supervisory authority shall not take longer than 6 months from the receipt of a complete application to decide on an application.
Where the supervisory authority has considered an appli
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