4 may contain such conditions, limitations or qualifications as Council may specify in such permit. If any such permit issued in terms of clause 3.01 of this Bylaw is issued for the purpose of allowing vessel testing or trialling then such permit shall be issued on the condition that such testing or trialling shall be for a limited period and shall be on such terms and conditions as Council may reasonably impose. 3.03 In considering whether or not to issue a permit to allow any vessel to exceed the speed limit Council shall have regard to: (a) Whether if the vessel were permitted to exceed the speed limit the characteristics of its wake would be likely to be outside those referred to in Schedule Two. (b) Generally the characteristics of the wake likely to be produced by such vessel in the defined area at speeds in excess of the speed limit. (c) Whether the purpose of the exemption is to allow vessel testing or trialling in the defined area. (d) Generally the likely effects on safety if the vessel were permitted to exceed the speed limit. 3.04 For the purpose of considering whether or not to issue a permit to allow any vessel to exceed the speed limit Council may: (a) Establish a form of application; and (b) Include in that form of application a requirement for an applicant to submit to Council such technical information as Council may require to enable the matters referred to in