(1)  This regulation applies if –

(a) an exemption is referred to the CAP under regulation 173(2) ; and

(b) the CAP decides that the exemption –

(i) is to, or is not to, be cancelled; or

(ii) is to be varied, whether or not the CAP's decision is the same as the variation proposed by the Authority, and is to have effect as varied in all participating jurisdictions or participating jurisdictions including this jurisdiction; or

(iii) is not to be varied.

(2)  The Competent Authority must have regard to the CAP’s decision.