(1) Within 2 working days after the day on which the Bank receives a completed notification under paragraph (1) or (2) of Regulation 60 from a proposed acquirer, the Bank shall acknowledge receipt of the notification in writing.

(2) For the purposes of paragraph (1), a notification is completed if it gives all the information and documentation (whether in the notification itself or as an attachment) required by Regulation 60 to be provided for the assessment of the proposed acquisition.

(3) Within 60 working days after the date of the written acknowledgement referred to in paragraph (1) (in this Chapter referred to as the "assessment period") the Bank shall carry out the assessment of the proposed acquisition in accordance with Regulation 64 (in this Chapter referred to as the "assessment").

(4) In its acknowledgement of receipt of a notification referred to in paragraph (1), the Bank shall inform the proposed acquirer concerned of the date on which the assessment period will end.