If the Secretary disapproves a regulated firearm application, the Secretary shall provide written notice of the disapproval to the dealer or prospective seller, lessor, or transferor within seven days after receiving a properly completed application. The written notice shall contain the reasons the application was disapproved. After providing written notice to the dealer or prospective seller, lessor, or transferor, the Secretary shall provide written notice of the disapproval to the applying purchaser, lessee, or transferee. The written notice shall contain the reasons the application was disapproved and a statement of the applicant’s appeal rights.