In-principle approval

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....to establish an information utility may make an application for an in-principle approval, demonstrating that the conditions in sub-regulation (2) are satisfied, along with a non-refundable application....

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....and be subject to such conditions as it deems fit. (3) During the validity of in-principle approval, the company referred to in sub-regulation 2(b) may make an application for a certificate of regist....