On considering an application under section 69 the Commission shall—
grant it,
reject it, or
grant it in respect of one or more of the activities specified in accordance with section 69(2)(a) and reject it in respect of the others.
Where the Commission grants an application in whole or in part it shall as soon as is reasonably practicable—
notify the applicant of the grant, and
issue an operating licence to the applicant.
Where the Commission rejects an application in whole or in part it shall as soon as is reasonably practicable notify the applicant of—
the rejection, and
the reasons for it.