S.L. 386.30 Art. 8Approval of Directorate.    S.L. 639.10.

(1) The registration of a company in accordance with regulation 7 may only be made following the approval or authorisation in writing by the Directorate upon request made by the proposed subscribers of the company.

(2) The request referred to in sub-regulation (1) shall be accompanied by a business plan of the company in respect of its first five (5) years of operation indicating at the least the following particulars:

(a) the agricultural activities that are proposed to be carried out by the company;

(b) the parcels of land and the list of the identification number of the livestock, as may be applicable, that the company shall be using for the agricultural activity.

(c) the premises from which such agricultural activities shall be carried out;

(d) financial forecasts for the first two (2) years of operation, ensuring that the turnover classifies the company in accordance with regulation 3(3)(b) of the Categorisation of Farmers Regulations;

(e) the number of employees, if any, proposed to be employed by the company.

(3) The Directorate shall review any such request and issue its approval or otherwise within two (2) months from the receipt thereof.

(4) The Registrar shall not register a company in accordance with these regulations unless an approval from the Directorate under this regulation is duly obtained.