1. Subscription applications shall be submitted to a duly licensed entity/ entities in the State, as specified by the Founders Committee in the Prospectus. Subscription applications may also be submitted electronically as determined by the SCA in this respect. 2. The entity / entities receiving the subscription applications shall keep the money paid by the subscribers and the subscription proceeds for the benefit of the under-incorporation Company. Such money shall only be paid to the board of directors of the Company after the SCA issues a certificate of incorporation of the Company and the latter is registered in the commercial register maintained by the Competent Authority.
Interpretation and application must be checked against the official text and current version.