14   Regulatory Authority may seek further information

(1)  For the purpose of carrying out an assessment as to whether a person is a fit and proper person, the Regulatory Authority may—

(a)  ask the person to provide further information; and

(b)  undertake inquiries in relation to the person.

(2)  If the Regulatory Authority asks the applicant for further information under this section, the period from the making of the request and the provision of the further information is not included in the period referred to in section 15 for the Regulatory Authority to make a decision on the application.