Section 8
Withdrawal of pioneer status
of Promotion of Investments Act 1986
Where a company, which has been granted pioneer status under section 6, fails to comply with the requirements of subsections 7(1) to (3), the Minister shall by notice in writing require the company within thirty days from the date of service of the notice, to remedy the failure or to establish to his satisfaction that the failure was due to some cause beyond the control of the company.
(2)
The Minister may withdraw the pioneer status granted to a company—
(a)
where the company has failed to comply with a notice served on it under subsection (1); or
(b)
where he is satisfied that the company has contravened any provision of this Act or any condition imposed under subsection 6(2) or (3) and that in all the circumstances it is expedient to do so.