(1) The Comptroller - General of Customs must decide whether or not to grant a depot licence within 60 days after:
(a) if paragraph (b) does not apply--the receipt of the application for the licence; or
(b) if the Comptroller - General of Customs requires further information or documents relating to the application to be supplied by the applicant under section 77J and the applicant supplied the information or documents in accordance with that section--the receipt of the information or documents.
(2) If the Comptroller - General of Customs has not made a decision whether or not to grant a depot licence within 60 days under subsection (1), the Comptroller - General of Customs is taken to have refused the application.