S.L. 545.25 Art. 23Requirement of a bank guarantee.

The Regulator may, for the purpose of the legal nature and effect of these regulations, require the applicant to produce, within a reasonable time which shall not be prior to the acceptance of his application by the Regulator, a bank guarantee in favour of the Regulator, provided that, such guarantee shall be submitted to the Regulator concurrently with the issuing and granting of the authorisation to the applicant, in terms of these regulations.