(1) The Regulator may, by written notice given to the applicants, require the applicants to give the Regulator, within the period specified in the notice, further information in connection with the application.
(2) If the applicants breach the requirement, the Regulator may, by written notice given to the applicants:
(a) refuse to consider the application; or
(b) refuse to take any action, or any further action, in relation to the application.