In-principle approval for alternative investment funds permits commitments but bars receipt of monies until formal registration. Regulation 6 authorises the Board to grant AIF registration certificates where applicants meet prescribed requirements; upon payment of the registration fee the Board issues Form B and may attach conditions. The Board may grant in principle approval when an applicant complies with regulation 4 except specified clauses, provided the applicant remedies those within the stipulated compliance period, after which full registration is issued; funds with in principle approval may accept commitments but must not accept monies until registered.