40. (1) The Minister, within 30 days of receipt of an application under section 38, shall forward the application to An tÚdarás with a direction in writing to appoint an advisory panel under subsection (2).

(2) Within 60 days of the receipt of a direction under subsection (1), An tÚdarás shall appoint a panel of at least 3 persons having a special interest or expertise in, or knowledge of, matters relating to higher education, at least one of whom shall have expertise, at an international level, in standards and practice in higher education (in this Chapter referred to as an “advisory panel”), to assess the application under section 38.

(3) Within 120 days of being appointed, the advisory panel, having assessed the application under section 38, and having had regard to the matters referred to in section 41, shall furnish a report to the Minister and An tÚdarás with a recommendation whether to make an order under section 43.

(4) For the purposes of its assessment and report under this section, the advisory panel may consult with the applicant college, applicant technological university, An tÚdarás, the Qualifications and Quality Assurance Authority of Ireland, and any other person or body it considers appropriate.