Cap. 334 Art. 10Licensed companies.

(1) The Authority may grant licences to companies to carry out in a Freeport a trade or business being principally -

(a) the labelling, packaging, sorting, warehousing, storage, exhibition or assembly of any goods, materials, commodities, equipment, plant or machinery; or

(b) any activity concerned solely with the conduct of a Freeport including, but not limited to, stevedoring, wharfage, operation of terminals and container handling; or

(c) the rendering of services analogous or complementary to the activities referred to in paragraph (a), and the status as a licensed company shall be evidenced by the issue of a licence for this purpose by the Authority.

(2) No company shall be granted a licence contemplated by this Act unless its activities are, in the opinion of the Authority, wholly or mainly carried on or exercised within a Freeport.

(3) For the purpose of subarticle (2), the following activities carried on or exercised outside a Freeport by a licensed company shall not be deemed to infringe the rule therein set out:

(a) the management and administration of a company, its trade, business or property and the holding thereof;

(b) the execution of instruments, transactions, negot-iations or agreements relative to a company’s trade or business; benefits shall only be granted to companies which engage in activities that advance the objectives of Freeports.