(1) For the purposes of regulations 9(1)(b) and 12(1)(b), the steps are that the person has, before IP completion day -

(a) made an application -

(i) in the case of a person who satisfies the conditions in regulation 10, for permission under Part 4A of that Act, or

(ii) in the case of a person who satisfies the conditions in regulation 13, for a variation of such a permission,

which has, immediately before IP completion day, not been withdrawn by the person or determined by a regulator in accordance with section 55V of that Act, or

(b) notified the relevant regulator that the person wishes to be treated in accordance with regulation 8 or 11.

(2) For the purposes of paragraph (1)(b), the notification must -

(a) be made in such manner, and during such period, and

(b) contain, or be accompanied by, such information,

as the relevant regulator may direct.