Section 17
Prior approval in principle
ActIn forceProvision 21 of 211
Section 17
(1)
A foreign company may, prior to applying for registration under section 16, request that such registration be approved in principle and upon such request and payment of the prescribed fee, the Authority may, if it is satisfied that the company is eligible for registration under section 16, issue a certificate confirming its approval of the company being so registered subject to an application under section 16 being made within a period of twelve months from the date of the certificate.
(2)
The certificate of approval given by the Authority under subsection (1) shall not relieve the foreign company to whom it is issued from complying with the provisions of section 16 on a subsequent application for registration.