Precious Metals Act, 2005 (Act No. 37 of 2005)RegulationsPrecious Metals Regulations9. Issuing of precious metal beneficiation licence |
| (1) | The Regulator may, subject to subregulation (2), within 60 days of the lodgement of an application, issue or renew a precious metal beneficiation licence if— |
| (a) | the applicant is not in contravention of any provision of the Act; |
| (b) | the applicant has access to appropriate financial resources and the necessary technical expertise to conduct the proposed beneficiation operation; and |
| (c) | the applicant's business plan is compatible with the intended beneficiation operation. |
| (2) | The Regulator may refuse the issuing or renewal of a precious metal beneficiation licence if the issuing of such licence will— |
| (a) | result in an exclusionary act; or |
| (b) | prevent fair competition. |