Approval by Authority
5.—(1)  A designated entity may apply to the Authority to be an approved MAT insurer in such form and manner as the Authority may specify.
(2)  The Authority may require an applicant to furnish it with such information or documents as it considers necessary in relation to the application.
(3)  The Authority may approve an applicant, with or without conditions, or refuse to approve the applicant on such grounds as the Authority thinks fit.
(4)  The Authority shall not approve any applicant under paragraph (3) unless the applicant has made a deposit under regulation 9.
(5)  The Authority shall cause notice of any approval or change in the name of an insurer approved under this regulation to be published in the Gazette.