1. No legal Person shall be registered or licensed with the Relevant Authorities, where it intends to engage in any Financial Activities, except after obtaining the approval of the Authority to engage in such Financial Activity. 2. An application for licensing, approval, or registration to engage in any Financial Activity, or for approval to add any Financial Activity, or an application for accreditation to perform any tasks or works related to Financial Activities, shall be submitted to the Authority in accordance with the conditions set forth in the Authority ‘s resolutions, using the prescribed form, and accompanied by the information, data, and documents supporting the application; and the Authority may request any additional data or documents it deems appropriate to enable it to take its decision. 3. The applicant shall be obliged to notify the Authority in writing immediately upon the occurrence of any material change to the application or its data prior to the issuance of the Authority’s decision thereon. 4. No new application for licensing, approval, registration, or accreditation shall be submitted to the Authority following the rejection of a previous application until the lapse of a period to be determined by the Authority in accordance with its regulations.
Interpretation and application must be checked against the official text and current version.