186. Decisions on applications for revocation by Issuers

(1) This section applies where, having considered any representations made in response to a written notice under section 185(5), the Regulator has decided whether to grant an application for revocation made under section 185.
(2) The Regulator must give written notice to the Issuer if the Regulator decides to revoke the requirement.
(3) The Regulator must give the Issuer a decision notice if —
(a) in the case of a requirement imposed on an Institution, the Regulator decides not to revoke the requirement; or
(b) in the case of a requirement imposed on a class, the Regulator decides not to revoke the requirement or makes a decision to revoke the requirement in relation to —
(i) the class apart from one or more specified members of it; or
(ii) one or more specified members of the class only.