Financial Services Board Act, 1990
R 385
Diamonds Act, 1986 (Act No. 56 of 1986)Chapter V : The Diamond Trade49. Approval of premises |
| 1) | If an application for the approval of premises is made to the Regulator in terms of section 48(1)(d) or (2)(d), the Regulator may conduct such investigation regarding the application as it may deem fit. |
| 2) | The Regulator may at its discretion grant, on such conditions as it may determine, or refuse an application for the approval of premises, but the Regulator shall not grant any application if it is of the opinion- |
| a) | that the granting of the application will not be in the interest of the diamond trade in general; or |
| b) | that the premises do not comply with the prescribed requirements. |
| 3) | If the Regulator grants an application for the approval of premises, the chief executive officer of the Regulator shall against payment of the prescribed fee issue to the applicant concerned a certificate of approval in respect of the premises on the prescribed form. |
| 4) | The chief executive officer of the Regulator shall endorse on such certificate any condition determined by the Regulator under subsection (2). |
