Business owners and companies are now required to get approval from the government before launching a new advertising platform, such as an online video platform, to promote a product or service.
According to the regulations, a platform must have at least five years of experience, and have an established customer base.
The platform also needs to have a business plan that clearly outlines its business plan, the regulator said.
The regulator has already asked platforms to get clearance from the Department of Telecommunications and the Department for Home Affairs, which has the power to issue the licence.
If the platform doesn’t get clearance, it is deemed illegal and is subject to penalty.
The regulations also allow for the government to force platforms to disclose how much money they earn.
This is to prevent unfair practices and unfair competition.
The guidelines also state that platform owners must ensure that the information on the website is accurate and that the ads displayed on the platform are relevant to the content offered.
“The regulatory framework should be based on sound legal principles,” the regulator added.Read more: