(1) Prior to issuing a statement of qualification a company may apply to the Revenue Commissioners for confirmation that the following conditions are satisfied in respect of an investment in eligible shares:
(a) the condition set out in section 490(2)(a)(ii); and
(b) the conditions set out in subsections (4) to (7), as appropriate, of section 496.
(2) The application referred to in subsection (1) shall be a statement made by the company to the Revenue Commissioners and that statement shall -
(a) contain all relevant facts and circumstances, and
(b) be in such form as the Revenue Commissioners direct.