7. Specified internal controls to be approved by Authority

The Authority may, by notice in writing, require a licensee or an applicant for a licence to submit to the Authority for approval of such part or parts of the licensee’s or applicant’s system of internal controls as the Authority may specify in the notice (referred to in these Regulations as ‘‘specified internal controls’’).

A licensee shall not conduct or permit the conduct of the licensee’s operations unless the approval of the Authority has been obtained in writing for all of the specified internal controls relating to those operations.

The Authority may, by notice in writing, require a licensee or an applicant for a licence to submit to the Authority for approval of such part or parts of the licensee’s or applicant’s system of internal controls as the Authority may specify in the notice (referred to in these Regulations as ‘‘specified internal controls’’).

A licensee shall not conduct or permit the conduct of the licensee’s operations unless the approval of the Authority has been obtained in writing for all of the specified internal controls relating to those operations.