(1) A foreign company must not carry on business in this jurisdiction unless:

(a)

it is registered under this Division; or

(b)

it has applied to be so registered and the application has not been dealt with.

(2) For the purposes of this Division, a foreign company carries on business in this jurisdiction if it:

(a)

offers debentures in this jurisdiction; or

(b)

is a guarantor body for debentures offered in this jurisdiction;