1. The competent authority shall not grant authorisation unless and
until such time as it is fully satisfied that the applicant complies with all
requirements under the provisions adopted pursuant to this Directive.
2. The investment firm shall provide all information, including a
programme of operations setting out inter alia the types of business
envisaged and the organisational structure, necessary to enable the
competent authority to satisfy itself that the investment firm has established,
at the time of initial authorisation, all the necessary arrangements
to meet its obligations under the provisions of this Chapter.
3. An applicant shall be informed, within six months of the submission
of a complete application, whether or not authorisation has been
granted.