Section 503

Power to accord approval subject to conditions.—(1) Where the Commission or registrar is required or authorised by any provision of this Act—

(a) to accord approval, sanction, consent, confirmation or recognition to or in relation to any matter;

(b) to give any direction in relation to any matter; or

(c) to grant any exemption in relation to any matter, then, in the absence of anything to the contrary contained in such or any other provision of this Act, the Commission or registrar may accord, give or grant such approval, sanction, consent, confirmation, recognition, direction or exemption subject to such conditions, limitations or restrictions as the Commission or registrar may think fit to impose and may, in the case of contravention of any such condition, limitation or restriction, rescind or withdraw such approval, sanction, consent, confirmation, recognition, direction or exemption.

(2) Save as otherwise expressly provided in this Act, every application which may be or is required to be made to the Commission or registrar under any provision of this Act—

(a) in respect of any approval, sanction, consent, confirmation or recognition to be accorded by the Commission or registrar, or in relation to, any matter; or

(b) in respect of any direction or exemption to be given or granted by the Commission or registrar to or in relation to any other matter; or

(c) in respect of any other matter; shall be accompanied by fee specified in the Seventh Schedule.