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No licence shall be given to

(a) a broker-dealer;

(b) an investment adviser;

(c) a share transfer agent;

(d) a trustee of a collective investment scheme;

(e) a person who provides custodial services with regard to securities;

(f) a person who performs the functions of a central securities depository or provides securities clearing and settlement facilities;

(g) a registrar of a public issue of securities;

(h) an underwriter; or

(i) a person who provides the services of an issuing house or a manager of a public issue of securities; unless the person designated as a chief executive officer has at least a university degree in business, finance or economics, or recognised academic or professional qualifications or experience in banking, law, accountancy, economics, business administration, dealing in securities or any other relevant qualifications.