(1) At any time before the grant or refusal of an authorisation under Regulation 47(1), the Bank may -
(a) request the applicant to supply further information and records relating to the proposed regulated market or its proposed market operator, or
(b) instruct an authorised officer to -
(i) make inquiries, or
(ii) carry out investigations
in accordance with these Regulations and as necessary for the purpose of properly evaluating an application