s 33 Application for approval of foreign loan
33.—(1) A company that has obtained, or desires to obtain, a loan of not less than $20 million from a non‑resident person (called in this Part a foreign lender) by means of an agreement under which credit facilities are granted for the purchase of productive equipment for the purposes of its trade or business, may apply to the Minister for that loan to be approved as an approved foreign loan.[11/2016; 20/2020] (2) The Minister may, where the Minister thinks it expedient to do so, consider an application for approval in respect of a foreign loan of less than $20 million.[11/2016] (3) The application must be in such form and with such particulars as may be prescribed, and must be accompanied by a copy of the agreement.[11/2016] (4) Where the Minister is satisfied as to the bona fides of such an application and that it is expedient in the public interest to do so, the Minister may —(a) subject to such conditions as the Minister considers appropriate, approve the loan specified in the application as an approved foreign loan; and (b) issue a certificate certifying the approval.[11/2016] (5) Every certificate issued under subsection (4) must be in such form and contain such particulars as may be prescribed.[11/2016] (6) The Minister may not approve any loan as an approved foreign loan on or after 1 January 2029.[57 [11/2016] [Act 39 of 2023 wef 29/12/2023]