(1) An application for the registration of a trade mark must be rejected if the trade mark contains or consists of a sign that, under regulations made for the purposes of section 18, is not to be used as a trade mark.
(2) An application for the registration of a trade mark may be rejected if the trade mark contains or consists of:
(a) a sign that is prescribed for the purposes of this subsection; or
(b) a sign so nearly resembling:
(i) a sign referred to in paragraph (a); or
(ii) a sign referred to in subsection (1);
as to be likely to be taken for it.