ARTICLE 5. The registration of the institutions to which these regulations apply,
in the Zone, is subject to the presentation of the registration permit issued
by Bimeh Markazi Iran. Also the registration of any subsequent changes in the
Articles of Association, amount of capital and shares of the previously
registered institutions, is subject to the approval of Bimeh Markazi Iran.
ARTICLE 6. To
secure a registration permit the following documents and information must be
submitted to Bimeh Markazi Iran:
A. Articles of Association of the
institution;
B. The institution’s amount of capital, the
receipt or a commitment letter for its payment
C. The paid
and non-paid portion of the shares and the method of payment;
D. Lists of
shareholders, inspectors and directors and their nationalities, and number of
shares to be owned by each of them;
E. Other
documents, papers and information confirming financial and technical integrity
of the institution and its directors.
Note. The registration
permit will remain valid for 6 months. If the institution is not registered
within the said period, another registration permit must be obtained.
ARTICLE 7. Bimeh Markazi Iran is obliged to
advise, in writing, its views on the acceptance or rejection of the application
to the Authority within 30 days from the date of the submission of the last
requested documents and information, in compliance with Article 28 of the Law
on the Administration of the Free Trade - Industrial Zones in the Islamic Republic
of Iran (ratified in 1993) and the provisions of these regulations.
Note. In case of rejection, applicants are entitled
to submit their objections to the General Assembly of Bimeh Markazi Iran within
30 days. The verdict of the General Assembly shall be final and binding.
ARTICLE 8. Upon
receiving the registration certificate of the institution in the Zone, Bimeh
Markazi Iran will issue an operation permit for one or more classes of direct
insurance, reinsurance or both.