—(1) A solicitor who wishes to have a company or a proposed company approved as a law corporation shall apply to the Council for approval —
of the company as a law corporation; and
of the name or proposed name of the law corporation.
(2) An application under subsection (1) shall be made in accordance with rules made under section 81N.
(3) Subject to the provisions of this Part, the Council may, on receiving an application in respect of a company or a proposed company under this section, approve the company or proposed company as a law corporation if —
the memorandum of association of the company or proposed company provides that the primary object of the company or proposed company is to supply legal services and such other class of services as may be prescribed; and
the articles of association of the company or proposed company provide for such matters as may be prescribed.
(4) If the Council gives approval for a proposed company to be a law corporation, the approval shall not take effect until the company is registered and incorporated under the Companies Act (Cap. 50).