12Grant or refusal of registration as a service provider
(1)Subsections (2) to (4) apply where an application under section 11 has been made in accordance with the provisions of this Chapter with respect to a regulated activity.
(2)If the Commission is satisfied that—
(a)the requirements of regulations under section 20, and
(b)the requirements of any other enactment which appears to the Commission to be relevant,
are being and will continue to be complied with (so far as applicable) in relation to the carrying on of the regulated activity, it must grant the application; otherwise it must refuse it.
(3)The application may be granted either unconditionally or subject to such conditions as the Commission thinks fit.
(4)On granting the application, the Commission must issue a certificate of registration to the applicant.
(5)The Commission may at any time—
(a)vary or remove any condition for the time being in force in relation to a person’s registration as a service provider, or
(b)impose any additional condition.
(6)Subsections (3) and (5) have effect subject to section 13.