Section 18J: Determination of application

18J. Determination of application (1) On receipt of an application under section 18H (1), the Managing Director— (a) may, within 30 days, require the applicant to give such further information, particulars or documents as may be necessary; and (b) shall, as soon as reasonably practicable, refer the application to the Board with his comments, observations and recommendations. (2) Where the Managing Director refers an application under subsection (1) to the Board, the Board may— (a) approve the application on such terms and conditions as it may determine; (b) refer the application back to the Managing Director for further enquiry; or (c) reject the application. (3) Where the Board is of the opinion that the proposed activity may cause prejudice to the good repute of Mauritius, it shall reject the application. (4) Where the Board rejects an application, the Managing Director shall, by notice in writing to the applicant, give reasons for the rejection. (5) An applicant shall, by notice in writing, inform the Managing Director of any material change in his application which may have occurred, whether before or after the issue of a Regulatory Sandbox licence. [S. 18J inserted by s. 29 (e) of Act 18 of 2016 w.e.f. 20 October 2016.]