(1) If an application is received in accordance with section 57, the board may issue a license to the applicant to conduct securities business in the prescribed format on the basis of the following:- (a) Based on the conditions mentioned in sub-section (2), the applicant shall be subject to this Act or the rules and regulations made under this Act. If it is considered that they can do securities business, (b) the training and educational qualification obtained by the representative appointed to do securities business. It will be looked at:- (a) financial status, (b) educational qualification, training and experience in related work, (c) experience needed to do securities business, (d) social status and character. (3) Notwithstanding anything written above in this section, securities brokerage. And the license to do securities business other than investment consulting services will be given only to public limited companies or organized organizations established in accordance with prevailing laws. (4) Notwithstanding anything else written in this Act, the Board, taking into account the interests of the capital market and investors, may not allow any securities business to engage in any type of securities business. He can grant a license to prevent securities business.