Registration

(1) In relation to every application for registration, the Supervisor shall either– (a) issue a certificate of registration to the applicant authorising it to carry on, subject to such terms and conditions as he thinks appropriate, a defined category or categories of insurance business; or (b) reject the application; or (c) defer the application and direct that such further enquiries, submissions or clarifications as he considers necessary be made. (2) Where the Supervisor rejects an application, he shall notify the applicant in writing of the rejection. (3) If any terms and conditions are imposed under sub- section (1)(a), the Supervisor may from time to time vary or revoke any of those terms or conditions or impose any additional