This regulation applies where the Department has issued a SNRP under regulation 49 to the holder of a licence granted pursuant to any action taken by an EEA State for the purpose of implementing the Directive or the 1995 Directive.

The Department must take such steps as are necessary to enable it to determine whether or not the licence holder complies with the requirements referred to in Schedule 4 as to good repute, financial fitness, professional competence and insurance cover for civil liabilities at any time the Department considers that there is serious doubt whether the licence holder complies with any of those requirements, and in doing so, the Department must treat Schedule 4 as if it applies in relation to holders of licences granted pursuant to any action taken by an EEA State for the purposes of implementing the Directive or the 1995 Directive.

If, having taken the steps referred to in paragraph (2), the Department is satisfied that the licence holder does not comply with any such requirement, the Department must revoke or suspend the SNRP issued to the licence holder.