36. Grant or rejection of Proposed Alteration

(1) The DFSA may approve a proposed alteration if it is satisfied that the requirements in Article 35 have been met.
(2) The DFSA may refuse to grant approval of a proposed alteration if it is not satisfied that the requirements in Article 35 have been met.
(3) The procedures in Schedule 3 to the Regulatory Law 2004 apply to a decision of the DFSA under Article 36(2). The DFSA shall give both the Fund Manager and the Trustee (if appointed) the opportunity to make representations under those procedures.
(4) If the DFSA decides to exercise its power under Article 36(2), the Fund Manager or the Trustee (if appointed) may refer the matter to the FMT for review.