(1) Subject to this section, no declaration may be made with respect to a small scale business enterprise unless that enterprise is incorporated in accordance with the Companies Act, or registered under the Registration of Business Names Act.
(2) Despite subsection (1), the Minister may make a declaration under section 5 where the owner or agent of a micro or small scale business enterprise gives an undertaking that the enterprise will be incorporated within 3 months of the date of the declaration.
(3) Where an enterprise is not incorporated within the time prescribed by subsection (2), any declaration made by the Minister with respect to that enterprise ceases on the expiration of such time.
(4) For the purpose of this Act, an enterprise may either be incorporated as a private company or as a limited partnership, but nothing in this Act prevents an enterprise from incorporating as a public company.