Where the Minister considers it to be in the public interest, the Minister may refuse to grant a licence and in making such a determination, the Minister shall have particular regard to—
(a) the business record and experience of the applicant;
(b) the nature and sufficiency of the financial resources of the applicant or its parent company;
(c) the soundness and feasibility of the plans of the applicant for the conduct and development of the applicant's business; and
(d) whether the applicant will be owned and operated responsibly by persons who are fit as to character, competence and experience.