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(1) An application for a licence shall be made in the prescribed form, to the Prescribed Authority. (2) On receipt of such application, the Prescribed Authority may, on payment of the prescribed fee, grant a licence to such person for the conduct of his business in accordance with the terms and conditions of the licence, and the provisions of this Act and the rules made thereunder.
<span style="margin-left:15px;"></span>(<i>1</i>) An application for a licence shall be made in the prescribed form, to the Prescribed Authority. <br> <span style="margin-left:15px;"></span>(<i>2</i>) On receipt of such application, the Prescribed Authority may, on payment of the prescribed fee, grant a licence to such person for the conduct of his business in accordance with the terms and conditions of the licence, and the provisions of this Act and the rules made thereunder. <br>