Section 68 Applications for approvalI1

An application for approval under section 66 must be made jointly by—

The application must be made in the manner and form specified by the Regulator.

The Regulator must decide whether or not to approve a superfund transfer, and must notify the applicants of its decision, as soon as reasonably practicable after receiving the application.

The Secretary of State may by regulations make provision about applications for approval, including about the documents and information that must be included in an application.

Regulations under subsection (4) are subject to the negative procedure.