The application stage for an application ends—
(a) if the applicant is given a notice under section 128 (2) —the day the administering authority receives the notice mentioned in section 128 (2) (d) ; or
(b) otherwise, the earlier of the following—(i) if the administering authority is satisfied the requirements under the application stage have been complied with—when the administering authority becomes satisfied the requirements have been complied with;(ii) 10 business days after the administering authority receives the application.