S.L. 123.82 Art. 6Approval of project.

(1) When the Corporation is satisfied that a project to which an application made under rule 5 refers is a bona fide research and development project and that the application complies with the requirements of these rules, it may approve the project and proceed to make a determination and issue a letter of approval as provided in rules 7 and 8: Provided that -

(a) the Corporation shall not approve any project after the 31st December, 2008 or after such earlier date as the Corporation may specify by means of a notice in the Gazette;

(b) the Corporation shall not approve a project whose expected duration is more than thirty-six months.

(2) The Corporation may make the approval of a project subject to such conditions as it may consider appropriate.