Not able to instantiate object from TLBINF32

Question

I have downloaded tlbinf32.dll and added it as a reference to VBA but it doesn't seem to be working, when I try to create the following object

     Dim oTLI As Object

     Set oTLI = New TLI.TLIApplication
     Set oTLI = CreateObject("TLI.TLIApplication")

I get the following error for both

'ActiveX component can't create object'

Does anyone know how to fix this?