Is the sentence below grammatically correct?

Question

Is the sentence below grammatically correct and can you help me improve it if it is wrong (it is taken from the company’s Charter):
Bonds may be issued not earlier than on the third year of the Company’s existence.

Answer 1

I would make two changes. "No earlier" would be better than "not earlier". Also, "on" should refer to something more specific than a year, like "on the third day". It would be better to say "in" or "during" the third year. Or rewrite it to say: "after the company has existed for two full years."

Answer 2

Bonds may be issued the third year of the Company's inception.

Or just simply leave out the word (not) and replace it with no earlier. Makes more sense.

Or
Bonds will be made available following the third year of the Company's existence.

The only real thing that makes a grammatical error is "not earlier." Should state "No earlier."
Otherwise, you will have to change your whole sentence structure.

Answer 3

Bonds may be issued no earlier than in the third year of the Company's existence.

Or if you really wanted to change it up:

Upon the third year of the Company's existence, bonds may be issued.

Answer 4

The sentence is grammatically correct, but weak because it is in the passive voice, which leaves the subject unstated, and thus forces the reader to make inferences.

A possible active voice translation:

The company may not issue bonds until its third year.

But then again, sometimes "legalese" has advantages over plain English.

Cheers,
Bruce

Answer 5

Bonds may be issued on the Company's third anniversary.

Answer 6

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Answer 7

I would swap out "not" with "no"