(1) A licence shall not be issued or granted by the Agency to an individual.

(2) Each application for the issue of a licence shall be in the prescribed form.

(3) Each application for a licence shall be accompanied with,

(a) a certificate of incorporation,

(b) a statement including the procedures with respect to the identification of the applicant.

(c) payment of a non-refundable application fee, and

(d) other prescribed documents.

(4) The Agency shall take the following factors into account in considering an application;

(a) the financial and human resources, including the assets of an applicant;

(b) the quality of the applicants hardware and software systems;

(c) procedures for processing products or services;

(d) the availability of information to third parties relying on the authentication product or service;

(e) the regularity and extent of audits by an independent body; and

(f) any other relevant factor which may be prescribed or which the Agency may consider necessary.

(5) A licence is valid for the period and on the terms and conditions that may be determined by the Agency.