A foreign investment registration can be cancelled if the investor:
- conducts a prohibited or reserved activity
- hasn’t commenced business within 12 months of receiving the certificate of registration
- obtains the certificate by fraud, misrepresentation, misstatement or omission of a material particular
- has committed an offence against this Act or any other law of Solomon Islands relating to an investment activity specified on the certificate of registration with a penalty over 12 or more months imprisonment
- has been deported from Solomon Islands.
(Section 23 of the Foreign Investment Act 2006)
However, the certificate will not be cancelled by the Registrar unless:
- the Registrar is satisfied there are grounds for cancelling in line with the reasons above
- the foreign investor has had at least 10 days to show cause as to why the certificate should not be cancelled
- the foreign investor’s response has not satisfied the Registrar; and
- the Registrar has consulted the Minister.
Reasons for cancellation must be specified to the foreign investor, and they must be informed of their right to a review under s27 of the Foreign Investment Act 2009. This right to review allows for a Committee to consider and either affirm or overturn the decision. A right of appeal on any error of law may then be launched in the High Court.
(Section 27 of the Foreign Investment Act 2009)