F69[10.—(1) Subject to subsections (2) and (2A) of this section, a licence or an authorisation under section 9A(2) shall be subject to such conditions, if any, as—

(a) in the case of a licence, the ECB may impose and specify at the time of the grant thereof following a proposal by the Bank, being conditions which in the opinion of the Bank are calculated to promote the orderly and proper regulation of banking,

(b) in the case of an authorisation under section 9A(2), the Bank may impose and specify at the time of the grant thereof, being conditions which in the opinion of the Bank are calculated to promote the orderly and proper regulation of banking.

(2) The Bank may, in the case of a licence, propose to the ECB that the conditions of a licence be amended, revoked or added to and it may propose to the ECB that conditions be imposed by the ECB in relation to a licence from time to time if in the opinion of the Bank the amendment, revocation, addition or imposition is calculated to promote the orderly and proper regulation of banking.

(2A) The conditions of an authorisation under section 9A(2) may be amended, revoked or added to and conditions may be imposed in relation to an authorisation under section 9A(2) from time to time by the Bank if in the opinion of the Bank the amendment, revocation, addition or imposition is calculated to promote the orderly and proper regulation of banking.

(3) Whenever the Bank proposes that a condition be imposed in relation to a licence or authorisation under section 9A(2) or that the conditions of a licence be added to or amended-

(a) it shall notify in writing the person who holds the licence or authorisation under section 9A(2) or to whom the licence is intended to be granted that it proposes to impose a condition in relation to the licence or authorisation under section 9A(2) or to amend or add to the conditions of the licence or authorisation under section 9A(2), as the case may be, and of its reasons for so proposing and that the person may, within twenty-one days after the date of the giving of the notification, make representations in writing to the Bank in relation to the proposed imposition, amendment or addition, as the case may be, and shall specify in the notification, the condition or the amendment or addition, as the case may be,

(b) the person may make such representations to the Bank within the time aforesaid, and

(c) the Bank shall—

(i) in the case of a licence, before deciding to propose to the ECB to impose the condition or amend or add to the conditions of the licence, as the case may be, consider any representations duly made to it under this subsection in relation to the proposed imposition, amendment or addition, as the case may be, and where, after so considering, the Bank decides to propose an imposition, amendment or addition, as the case may be, that differs from that specified in the notification concerned, it shall not be necessary to give a new notification under this subsection if the difference results in the condition concerned being no more onerous than would be the case had the Bank decided to propose to the ECB to impose the condition or amend or add to the conditions of the licence, as the case may be, in accordance with the notification concerned, or

(ii) in the case of an authorisation under section 9A(2), before deciding to impose the condition or amend or add to the conditions of an authorisation under section 9A(2), as the case may be, consider any representations duly made to it under this subsection in relation to the imposition, amendment or addition, as the case may be, and where, after so considering, the Bank decides on an imposition, amendment or addition, as the case may be, that differs from that specified in the notification concerned, it shall not be necessary to give a new notification under this subsection if the difference results in the condition concerned being no more onerous than would be the case had the Bank decided to impose the condition or amend or add to the conditions of the authorisation under section 9A(2), as the case may be, in accordance with the notification concerned.]