(1) Where an application is made under section 4 the Registrar shall subject to subsection (3) and, upon payment of the prescribed fee by the person making the application, register the company as an international business company if the Registrar is satisfied that—
(a) the requirements of this Act in respect of registration have been complied with; and
(b) the registered agent named in the articles as registered agent certifies that the requirements of this Act in respect of registration have been complied with.
(2) The Registrar shall retain in either electronic or written form the memorandum and articles submitted to him or her under section 4 and shall register the company as an international business company in a Register to be maintained by the Registrar, and to be known as the Register of International Business Companies.
(3) The Registrar shall not incorporate an international business company under this Act for the purpose of engaging in international banking business, international insurance business or international mutual fund business unless its incorporation has been consented to by the Financial Services Regulatory Authority. (Amended by Act 13 of 2018)
(4) A person who requires the consent of the Financial Services Regulatory Authority under subsection (3) shall submit a proposal to that effect to the Financial Services Regulatory Authority and the Financial Services Regulatory Authority may consent to the incorporation. (Amended by Act 13 of 2018)
(5) Nothing done by the Financial Services Regulatory Authority under subsection (4) shall preclude the Financial Services Regulatory Authority from refusing an application for a licence under the International Banks Act the International Insurance Act or the International Mutual Funds Act. (Amended by Act 13 of 2018)