(1) Subject to this Act, a person who intends to establish an enterprise to which this Act applies shall incorporate or register the enterprise in accordance with the Companies Code, 1963 (Act 179) or such other laws as are relevant to the establishment of the enterprise.

(2) On the submission of an application for the incorporation of an enterprise under subsection (1) of this section, the officers responsible for the incorporation and registration shall, where the documents of the applicant are in order, complete the processing of the application and issue the requisite certificate to the applicant within a period not exceeding five working days from the date of the submission of the application.