Microfinance Bill, 2012 H.B. 2, 2012 (ii) a partnership, the persons constituting the partnership are all fit and proper persons, and its business plan is appropriate for the moneylending business which the applicant wishes to conduct; or (iii) a company, the Registrar is satisfied as to the same matters as those applicable to a microfinance institution under paragraph (a)(i), (ii), (iii), (iv) and (v); and (c) generally, the applicant will comply with such of the provisions of this Act as are applicable to the kind of business to be operated by the applicant; the Register shall register the applicant as a microfinance institution or moneylender, as the case may be, and shall notify the applicant, in writing, that it has been registered and issue to the applicant a registration certificate in accordance with section 8(2). (3) If on consideration of an application the Registrar⎯ (a) is not satisfied as to any matter referred in subsection (2); or (b) considers that it will not be in public interest to register the applicant as a microfinance institution or moneylender, as the case may be; he or she shall refuse to register the applicant concerned: Provided that⎯ (i) before refusing to register an applicant, he or she shall notify the applicant, in writing, of the proposed refusal and of the reasons for it, and shall afford the applicant at least thirty days to make representations in the matter; and (ii) if, after the period allowed for representations, the Registrar decides to refuse to register an applicant on any ground, he or she shall notify the applicant in writing, of the decision and of the reasons for it. (4) The period between the Registrar’s receipt of an application in terms of subsection (1) and all documents and information submitted in support of it, and the date on which he or she notifies the applicant of his or her decision or proposed decision in terms of subsection (2) or (3), as the case may be, shall not exceed sixty days, unless the applicant consents to an extension of the period: Provided that, for the avoidance of doubt, it is declared that, non-compliance of this subsection by the Registrar does not imply that the applicant in question is entitled to registration. 8 Registration of microfinanciers (1) Registration of a microfinancier shall be subject to such terms and conditions as may be prescribed. (2) Upon registering a microfinancier, the Registrar shall issue the institution with a registration certificate, which shall be in the form prescribed and shall specify⎯ (a) the name of the microfinancier; and (b) any terms and conditions subject to which the microfinancier is registered. - 10 -