Cap. 529 чл. 19Further transitory provisions and savings clause.

(1) Persons who, on the first date of the coming into force of the amendments to the provisions of this Act introduced by virtue of Company Service Providers (Amendment) Act, 2020, are offering any of the services of a company service provider within the meaning of this Act, and who, until such date, were not required to be registered in terms of this Act, may only continue to offer the services of a company service provider following eight months from such date of coming into force of Company Service Providers (Amendment) Act, 2020 if:

(a) they have applied for authorisation in terms of article 4, within two months from the first date of the coming into force of Company Service Providers (Amendment) Act,

2020 and have been authorised by the Authority as an under-threshold company services provider within eight months of such date of coming into force; or

(b) they have applied for authorisation in terms of article 4 within two months from the first date of the coming into force of Company Service Providers (Amendment) Act, 2020, and have been provisionally authorised by the Authority as an over-threshold or Class C company services provider within eight months of such date of coming into force, subject to the submission of any additional information as may be required by the Authority and the payment of any additional fee as may be prescribed in the relevant rules or regulations issued under the Act:

Provided that, notwithstanding the provisions of article 5(4), the Authority shall notify any such person provisionally authorised in terms of paragraph (b), of its decision whether to grant or refuse authorisation, within twelve months of having granted such provisional authorisation:

Provided further that persons referred to in paragraph (b) shall mutatis mutandis comply with and adhere to the provisions of this Act during the said twelve month period or until such date as their application is approved or refused by the Authority, whichever is the earlier, and during such period any reference in the Act to a "company service provider" or an "authorised person" shall be deemed to include reference to a person who has been provisionally authorised under this sub-article:

(2) Any failure to meet any of the requirements mentioned in sub-article (1)(b), or to furnish any additional information requested by the Authority within the time stipulated by the Authority, or any withdrawal or abandonment of the application at any time during the said twelve month period, or the Authority’s decision to refuse or grant an authorisation in terms of article 5, or if the applicant furnishes information or makes a statement which he knows to be inaccurate, false or misleading in any material respect, or recklessly furnishes information or makes a statement which is inaccurate, false or misleading in any material respect, shall automatically render any such provisional authorisation null and without effect:

Provided that the granting of a provisional authorisation is a temporary concession and privilege, and no holder thereof shall be deemed to have acquired any vested rights therein or thereunder.

(3) The criteria by which a person shall be considered to be an over-threshold or under-threshold company services provider shall be provided for in rules issued under this Act.

(4) Subject to a complete application being submitted to the Authority in terms of sub-article (1), and before such person is authorised in terms of sub-article (1)(a) or before such person is provisionally authorised in terms of sub-article (1)(b), as the case may be, the Authority shall proceed to classify such person into one of the Classes for company service providers set out in the Schedule to this Act and into one of the thresholds mentioned in sub-article (3), and shall notify such person in writing of the outcomes of such classification and of such allocation of thresholds.

(5) Any person who, on the first date of the coming into force of Company Service Providers (Amendment) Act, 2020, is already registered as a company service provider under this Act shall be considered to be an authorised person for the purposes of this Act. This notwithstanding, such person shall be subject to the Authority’s classification process set out in sub-article (4), with no requirement, however, on such person to submit any application to the Authority.

(6) Any applicant who may have already submitted an application for registration with the Authority prior to the first date of the coming into force of Company Service Providers (Amendment) Act, 2020 and whose application had, by such date, not yet been determined by the Authority in terms of article 5, shall notify the Authority, in writing, whether such applicant intends continuing with the application or whether such applicant wishes to withdraw such application.

Provided that, where an applicant does not so notify the Authority, within three months from the first date of the coming into force of Company Service Providers (Amendment) Act, 2020, the Authority shall deem such an application to have been withdrawn.

(7) Any person who, on the first date of the coming into force of Company Service Providers (Amendment) Act, 2020, had already notified the Authority in terms of Article 3(5) prior to such coming into force of the said Act shall be subject to the Authority’s classification process set out in sub-article (4), with no requirement, however, on such person to submit any application to the Authority.

(8) The Authority may, at its sole discretion, direct the manner and intervals within which applications from different persons are to be received by the Authority within the period referred to in sub-article

(1) above.