Section 18: Refusal to register and license a scheme.

(1) The Authority may refuse to register and issue a license for a scheme, and it shall notify the applicant in writing of its decision, stating the reason for the refusal.
(2) Where the refusal to register and issue a license is as a result of non-material defect in the application, the Authority may in the notice require the applicant to rectify the application within six months.