The Authority must not refuse to grant an exemption on application, or an amendment to an exemption on request, unless it has—
(a) given written notice to the person making the application or request—
(i) stating that, on the basis of the information it has available, it proposes to refuse to grant or amend the exemption; and
(ii) providing written reasons for the proposed refusal; and
(iii) inviting the person to make a submission to the Authority on the proposed refusal; and
(b) considered any submission that is made in response to the notice.