Reasons shall be given whenever a decision not to grant an authorisation is taken and the applicant shall be notified thereof within six months of receipt of the application or, should the latter be incomplete, within six months of the applicant's sending the information required for the decision. A decision shall, in any case, be taken within 12 months of the receipt of the application.
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New version applies from 01/01/2014 — introduced by Capital Requirements Directive.
257 provisions change.
Article 13 is deleted from 01/01/2014.