47. Variation of Approval at request of relevant Authorised Person

(1) Where an Application for Approval under section 44 is granted subject to conditions, the Authorised Person concerned may apply to the Regulator to vary the Approval by —
(a) varying a condition;
(b) removing a condition; or
(c) imposing a new condition.
(2) The Regulator may refuse an Application under this section if it appears to the Regulator that it is desirable to do so in order to further one or more of its objectives.
(3) Section 44(3) to (6) apply to an Application made under this section for variation of an Approval as they apply to an Application for Approval made under section 44.