Regulation 22D Rejection of investor applicationsF1

(1)

The Authority may reject an investor application if—

(a)

the Authority is not satisfied that the investor application has been properly made;

(b)

the Authority has reason to believe that the investor will not comply with one or more of the ongoing obligations applicable to RIs;

(c)

the Authority has revoked an earlier investor registration in relation to that investor pursuant to regulation 59A; or

(d)

subject to paragraph (2), information requested by the Authority is not provided within the time limit specified in regulation 22B.

(2)

The Authority must not reject an investor application on the basis that information has not been provided in accordance with regulation 22B if—

(a)

the investor contacted the Authority before the 28 day period expired—

(i)

stating that the information sought is not yet available;

(ii)

stating that the information cannot be provided; or

(iii)

providing alternative information; and

(b)

fewer than three months have passed since the date of the first notice in which the Authority requested the information.

(3)

Where the Authority decides to reject an investor application it must notify the investor that the investor application has been rejected, giving reasons.

Annotations

Textual amendments

F1: Pt. 3A inserted (22.5.2018) by The Domestic Renewable Heat Incentive Scheme (Amendment) Regulations 2018 (S.I. 2018/610), regs. 1, 10