Section 4
Section 4
(a)
the company to be a pioneer company in relation to that industry and product or products;
(b)
the factory, when constructed or occupied by the company, to be a pioneer factory for the purpose of developing or establishing that industry and for the purpose of the production of that product or products.
(2)
In any application under subsection (1) the applicant shall —
(a)
give particulars of the pioneer industry and of the pioneer product or products intended to be produced by the company or proposed company in the factory to which the application relates;
(b)
estimate the rate of production by that factory of those products, in terms of marketable quantities which he anticipates the factory will be producing on production day;
(c)
except in the case of an existing factory —
(i)
give particulars of the estimated size, cost of construction and production capacity of the factory;
(ii)
specify the locality in which it is proposed to construct the factory;
(iii)
specify the date on which he expects that construction of the proposed factory will commence,
(d)
specify the date on which the factory will commence to produce in marketable quantities the pioneer product or products intended to be produced therein.
Investment Incentives 13
(3)
Every application under this section shall be accompanied by a deposit of $500 which —
(a)
shall be returned to the person making the deposit;
(b)
if the Board declares the application to be frivolous, shall be forfeited:
Provided that the Board shall not declare that application to be frivolous unless it has given that person at least 30 days’ notice of its intention to do so and has considered any objection made by that person to that intention.
Grant of pioneer certificate.