Background Part 1 – Regulatory Framework Consideration and grant Section 27 – Consideration of applications
86.This section sets out how applications under section 23 are to be considered by the Lord President. It requires the Lord President to consider an application submitted under section 23(1) and any written representations made in accordance with section 26(3) and (4).
87.The application may not be considered if the Lord President is not satisfied that the requirements of section 26 have been, and are being, complied with. The Lord President may make preliminary observations and, if the scheme is adjusted in response, must consider the adjusted scheme. The Lord President must have regard to whether the scheme would achieve and maintain appropriate standards of conduct and practice by persons who may acquire the rights sought, and must also consult the Scottish Ministers, the Competition and Markets Authority, the independent advisory panel of the Commission and such other persons as the Lord President considers appropriate.