(1) An application for the registration of a trade mark shall be rejected if the trade mark contains or consists of a sign that is prescribed not to be used as a trade mark.
(2) An application for the registration of a trade mark may be rejected if the trade mark contains or consists of—
(a) a sign that is prescribed for the purposes of subsection (1); or
(b) a sign so nearly resembling—
(i) a sign referred to in paragraph (a), or
(ii) a sign referred to in subsection (1); as to be likely to be taken for it.