s 37 Application for approval of royalties, fees or contributions
37.—(1) A company engaged in any industry which is desirous of entering into an agreement or arrangement with a non‑resident person whereby royalties or technical assistance fees or contributions to research and development costs are payable to the non‑resident person, may apply to the Minister for those royalties, fees or contributions to be approved as approved royalties, fees or contributions (as the case may be) for the purposes of this Division.[11/2016] [Act 39 of 2023 wef 01/04/2023] (2) The application must be in such form and contain such particulars as the Minister may require, and must be accompanied by —(a) a copy of the proposed agreement or arrangement certified by the non‑resident person; or (b) such particulars as the Minister may require.[11/2016] (3) Where the Minister is satisfied as to the bona fides of 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 royalties, fees or contributions specified in the application as approved royalties, fees or contributions; and (b) issue a certificate certifying the approval.[11/2016] (4) The Minister may not approve any royalties, fees or contributions as approved royalties, fees or contributions on or after 1 April 2023.[61 [11/2016] [Act 39 of 2023 wef 01/04/2023]