The Act Governing Bills Finance Business Article 16

Neither the head office nor the branch offices of a Bills Finance Company shall commence operations unless and until the Competent Authority has issued a business license to such Bills Finance Company.The establishment, relocation, suspension of business, resumption of business and dissolution of a Bill Finance Company’s branch offices shall require the approval of the Competent Authority and the Competent Authority shall promulgate regulations governing such events.The establishment, relocation or dissolution or closure of a non-operating office of a Bills Company shall require the approval of the Competent Authority and the Competent Authority shall promulgate regulations governing such events.