PART 2CONVERSION OF CIC INTO CIO
Commission to consult registrar and others5
1
The Commission must notify the following of an application for CIC conversion—
a
the Regulator;
b
the registrar; and
c
such other persons (if any) as the Commission thinks appropriate in the particular case.
2
The Commission—
a
may consult the Regulator; and
b
must consult the registrar and those persons (if any) notified under paragraph (1)(c),
about whether the application should be granted.