s 6 Grant of pioneer status
(1) On receipt of an application under subsection 5(1), 5(1B) or 5(1D) the Minister may, subject to subsections (2) to (6), grant pioneer status if he is satisfied that it is expedient in the public interest to do so, having regard in particularβ (a) to the number of pioneer companies already established or about to be established in relation to the promoted activity or the promoted product mentioned in the application; (b) to the production or anticipated production of those companies mentioned in paragraph (a); (c) to the favourable prospects of further development of the promoted activity or promoted product; (d) where the application is by a company, to the persons who are directors of the company and the description of persons who are members of the company; and (e) where the application is by persons proposing to register a company in connection with that application, to the persons who are proposed to be directors of the company and to the description of persons to whom the share capital or any part thereof is proposed to be offered for subscription. (1A) On receipt of an application under subsection 5(1) the Minister may, subject to subsections (2) to (6), grant pioneer status to a small company or make a decision to grant pioneer status following the registration of a small company, if he is satisfied that the applicant has fulfilled or will fulfill such criteria as may be prescribed in a statutory order to be published in the Gazette. (1AB) On receipt of an application under subsection 5(1A) the Minister may, subject to subsections (2) to (6), grant pioneer status if he is satisfied that the activity or product qualifies to be deemed as a promoted activity or promoted product under section 4A. (1AC) On receipt of an application under subsection 5(lC) the Minister may, subject to subsections (2) to (6), grant pioneer status to a contract research and development company. (1B ) The Minister may, from time to time, review the list of criteria prescribed under subsection (1A) and may make additions, variations or amendments to or deletions from the list as he may deem fit. (2) Pioneer status may be granted in the terms of the application or may be granted subject to such variation of those terms, and subject to such conditions as the Minister thinks fit. (3) Where an application for pioneer status is made by persons proposing to register a company in connection with that application, the Minister may decide to grant pioneer status under this section following the registration of the company, and where he so decidesβ (a) his decision, in respect of a grant of pioneer status under subsection (1), may be expressed to be subject to such conditions relating to any of the matters mentioned in paragraph (1)(e), as he may specify, or in respect of a grant of pioneer status under subsection (1A) , (1AB) or (1AC) , may be expressed to be subject to any conditions as he may specify; (b) he shall give notice in writing of that decision and of any such conditions to those persons; and (c) if the company is registered within three months of the date of the notice or such further period as the Minister may allow, and the Minister is satisfied that those conditions, if any, have been or will be complied with, pioneer status may be granted accordingly. (4) Where a company is not registered within the time or such further period as prescribed in paragraph (3)(c), the Minister shall revoke the notice referred to in paragraph (3)(b). (5) No pioneer status shall be granted by the Minister, and no decision to grant such pioneer status shall be taken by him, unless the decision to grant and the terms and conditions have had the concurrence in writing of the Minister of Finance. (6) The Minister may vary any condition imposed under subsection (2) or (3) but shall not do so without the concurrence in writing of the Minister of Finance.