(1) A decision of the Bank to refuse to grant registration of a PEPP under Article 6 of the PEPP Regulation is an appealable decision for the purposes of Part VIIA of the Act of 1942.

(2) Where the State is the home Member State of a PEPP provider, a refusal or failure to reply (referred to in the second sentence of the second subparagraph of Article 15(2) of the PEPP Regulation), on the Part of the Bank, shall be an appealable decision for the purposes of Part VIIA of the Act of 1942.