Registration with Competent Authority

(1) Upon grant of a trade license by the Urban Development and Housing Department, the-Financial Establishment shall apply to the Competent Authority for registration in such form as may be prescribed, and shall also pay such fee as may be prescribed. (2) The Competent Authority may register the Financial Establishment upon fulfilling all the conditions prescribed for registration, and issue a certificate of registration: Provided that the registration so granted shall become void at the expiry of validity of the trade license from the Urban Development and Housing Department.