1. The Founders Committee shall submit the incorporation application to the Competent Authority, together with the MOA and AOA of the Company, the economic feasibility study for the venture to be set up by the Company and the proposed timetable for execution. 2. The Competent Authority shall consider the incorporation application and issue an initial approval or rejection of the application. The Competent Authority shall notify the Founders Committee within 10 [ten] Business days after filing a complete application or filing the required documents or particulars. If the Competent Authority does not issue an initial approval by the above deadline, then the incorporation application shall be deemed rejected. 3. The Founders Committee may appeal, before the competent court, against the Competent Authority's decision rejecting the application, within thirty [30] business days of the date of being notified of the rejection decision or, if no decision has been issued, of the expiry date of the deadline under Clause [2] of this Article.
Interpretation and application must be checked against the official text and current version.