123.The Authority is required to determine an application within 6 months of receiving the completed application.  The Authority has discretion whether to determine incomplete applications, but it must determine even incomplete applications within 12 months of the initial receipt of the application.  The Authority may, of course, refuse an application on the grounds that it is incomplete where it is appropriate to do so.  Under subsection (3) an applicant may withdraw an undetermined application at any time.
124.Once the Authority has determined an application it must give written notice of its decision and, if the application to be granted, the date upon which the authorisation takes effect and from which the relevant activities may commence.  If the Authority proposes to refuse all or part of the application, or impose an additional requirement, it must proceed by way of  a warning and decision notice.
Commentary on Sections Part Iv: Permission to Carry on Regulated Activities Section 52: Determination of applications