(a) Except for data covered in subsection (b) below, an application filed under this Subchapter, together with all supplements, amendments and exhibits shall be open for public inspection.

(b) If an applicant wishes any information in its application, supplement or exhibit to be treated as confidential by the Commissioner and not available for public inspection it shall in its application separate and designate such information as confidential. The applicant shall also attach to such information designated as confidential a statement of the reasons therefor.

If the Commissioner finds good cause exists for treating such information a confidential, he shall exclude the same from the application available for public inspection.