The Solomon Islands Foreign Investment Board says its now up to the National Education Board to accept or decline an Australian company's application to set up a tertiary institute.
The FIB says it originally declined the application by Uniworld College to establish an institute offering business courses, which it wanted to call Cornell University.
Cornell University in the U.S. has released a statement saying it is in no way connected with the planned business school..
The FIB's secretary, Derick Aihari, says they had concerns after an earlier proposal by a group setting up a so called medical school in Western Province collapsed stranding a number of overseas students.
Mr Aihari says that was why they turned down Uniworld College's application.
"But then they appealed, there is provision in the Investment Act, to appeal against the reason given by the board. They said the reason was not fair, because they said it was basically a different proposal"
Derick Aihari says after a visit to Uniworld College in Australia, they issued a certificate of approval for the company to invest.
The National Education Board is now meeting to decide on whether to register the university.