Regulatory time limits tightened for underwriter applications; Board may require appearances and must state refusal grounds. The amendments empower the Board to require applicant or principal officer appearances for clarifications where correspondence would delay disposal; impose stricter communication deadlines with mandated grounds for refusals; shorten application and notice timeframes with a possible one-month extension; require consideration of prior rejections or disciplinary actions connected to the applicant; modify provisos in validity and renewal rules; align suspension/cancellation grounds with complementary regulation grounds; and allow, in investors' interest, an underwriter to complete underwriting commitments during the certificate's validity.