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Regulation 48
1. In this Schedule, “working day” means any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday under the Banking and Financial Dealings Act 1971(1) in any part of the United Kingdom.
2.—(1) The following procedure applies to the application for an approval of a financial guarantee or equivalent insurance for the purposes of Article 6(4), first paragraph.
(2) Only the notifier may apply for approval of a financial guarantee or equivalent insurance.
(3) He must apply for approval to the competent authority of dispatch.
(4) The competent authority must ensure that its decision is issued in writing within 20 working days after the receipt of the application.
3.—(1) The following procedure applies to the application for a review of the amount of cover of a financial guarantee or equivalent insurance and the approval of an additional financial guarantee or equivalent insurance in accordance with Article 6(4), second paragraph.
(2) Only the notifier (or the consignee, if authorised in writing by the notifier) may apply for a review of the amount of cover and approval of a financial guarantee or equivalent insurance.
(3) He must apply to the competent authority of destination.
(4) The competent authority must ensure that its decision is issued in writing within 20 working days after the receipt of the application.
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