Approved global trading company
3.—(1)  The Minister or the appointed person may, in writing —
(a)approve any global trading company for the purposes of section 43P of the Act for a period not exceeding 5 years from and including the date of the approval or such date as may be specified in the approval; and
(b)specify the commodities for the company in relation to the approval.
(2)  The Minister or the appointed person may, in any particular case, extend the period mentioned in paragraph (1) in writing for such further periods, not exceeding 5 years at any one time, as the Minister or that person thinks fit.