Section 6
Registration of premium scheme
ActIn forceProvision 6 of 92
Section 6
(1)
An application for the registration of a premium scheme may be made by a management company provided that the management company—
(a)
is a public company limited by shares incorporated under the Companies Act 2016 or corresponding previous written law;
(b)
specifies in its constitution that the management of interest scheme is one of its main objects; and
(c)
meets the minimum amount of paid up capital as determined by the Commission.
(2)
The Registrar shall have the power to impose any other conditions as he thinks fit for the purpose of registration of the premium scheme.