Section 5
Section 5
(a)
to the number of pioneer companies already established or about to be established for the production of the product or products mentioned in the application;
(b)
to the production or anticipated production of those pioneer companies;
(c)
to the favourable prospects of further development of the industry including development for export;
(d)
where the application is by a company, to the persons who are directors of the company and the description of persons who are members of the company;
(e)
where the application is by persons proposing to register a company in connection with that application, to the persons who are proposed to be directors of the company and to the description of persons to whom the share capital or any part thereof is proposed to be offered for subscription.
Investment Incentives 14
(2)
A pioneer certificate may be given in the terms of the application thereof or may be given subject to such variation of these terms, and subject to such conditions to be specified in the certificate as the Board thinks fit.
(3)
Where an application for a pioneer certificate is made by persons proposing to register a company in connection with that application, the Board may decide to give a pioneer certificate under this section following the registration of the company —
(a)
the Board’s decision may be expressed to be subject to such conditions relating to any of the matters mentioned in subsection (1)(e) as it may specify;
(b)
it shall give notice in writing of that decision and of any such conditions to these persons
(c)
if the company is registered within 3 months of the date of the notice and the Board is satisfied that these conditions, if any, have been or will be complied with, the certificate may be given accordingly.
(4)
Subject to subsection (3), no pioneer certificate shall be given otherwise than to a company registered as a
Limited Company under the Companies Act.
(5)
No pioneer certificate shall be given by the Board, and no decision to give a pioneer certificate shall be taken by it, unless the terms and conditions of the certificate have had the concurrence in writing of the Minister.
(6)
The Board may vary any condition imposed under subsection (2) or (3), but shall not do so without the concurrence in writing of the Minister.
Amendment of pioneer certificate by adding additional pioneer products.