Upon receipt of an application duly made under section 145, the Commission may grant a licence if it is satisfied that the applicant—
(a) proposes to engage in the securities business;
(b) is a company;
(c) is incorporated in Saint Lucia or incorporated in any other State and registered in Saint Lucia;
(d) has a body of rules for the governance of its members which rules comply with the requirements of this Part of the Act and are in all respects acceptable to the Commission.