Section 10: Power to grant licence

(1) The Authority may grant a licence for any approved activity in a Zone to an individual or business concern whether or not the business is incorporated in the customs territory.
(2) The grant of a license by the Authority shall constitute registration for the purposes of company registration within the Zone.
(3) A licensed company operating within a Zone and undertaking an approved activity shall notify the Authority of any purchase, assignment or transfer of shares in the company, except where the company's shares are quoted and are freely transferable on any international Stock Exchange .
(4) The Authority shall by order, from time to time, prescribe the regulations governing the Zone.