(1) If an application for a warehouse licence is made, the Comptroller - General of Customs must decide whether or not to grant the licence within 60 days after:
(a) if paragraph (b) does not apply--the receipt of the application; or
(b) if the Comptroller - General of Customs, under section 80A, requires the applicant to supply further information in relation to the application and the applicant supplies the information in accordance with that section--the receipt of the information.
(2) If the Comptroller - General of Customs has not made a decision whether or not to grant the warehouse licence before the end of the period referred to in subsection (1), the Comptroller - General of Customs is taken to have refused the application at the end of that period.