Hangseng, regarding the "acceptance" of the application: When an application is lodged, the application package may be possible to be "rejected" at lodgment time if the application package is missing something, so this may simply mean that the documention is seen to be all in order and complete (which obviously bodes well for the approval process, but is in no way a commitment that it is approved).
I expect this is the case in the US.
hartleys pen report - 01 dec 2010, page-14
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