1. An incorporation application shall be filed with the Ministry, together with the Competent Authority's initial approval and the Company's MOA and AOA, the economic feasibility study for the venture to be set up by the Company, the proposed timetable for execution, and any approvals of the relevant authorities in relation to the application, according to the applicable requirements of the Ministry. 2. The Ministry shall consider the incorporation application and notify the Founders Committee of its observations on the application and its supporting documents within 10 [ten] business days of the date of filing the application or of the date of filing an assessment of the in-kind contributions, if any. The Founders Committee shall complete any deficiencies or make such amendments as the SCA may deem necessary to complete the incorporation application, within 10 [ten] Business days of the date of the notice, failing which the Ministry shall consider this as a waiver of the incorporation application. 3. The Ministry shall send a copy of the application and its supporting documents to the Competent Authority within five [5] Business days of the date of filing a complete submission in order to be considered. The Ministry shall meet with the Competent Authority within five [5] Business days after sending a copy of the application to the Competent Authority. If the Competent Authority has any observations, the Ministry shall notify the Founders Committee which then has five [5] Business days to complete any deficiencies or make such amendments as the Competent Authority may require to complete the incorporation application, failing which the Ministry may consider this as a waiver of the incorporation application. 4. Following the Ministry's approval, the Competent Authority shall issue a resolution to grant the license.
Interpretation and application must be checked against the official text and current version.