If an application for a permit is made under section 303EL, the Minister must either issue, or refuse to issue, the permit within 40 business days after whichever is the latest of the following days:
(a) the day on which the application is made;
(b) if a request for further information in relation to the application is made under section 303EM--the day on which the applicant complies with the request;
(c) if section 303GA applies to the application--the day that is applicable under subsection 303GA(2).