In issuing a route permit to any public motor vehicle pursuant to Section 77, the competent authority shall examine whether the following matters have been satisfied by
the owner or manager of such a public motor vehicle, ? and shall issue the route permit to such a public motor vehicle only if such matters have been satisfied:
(a) Insurance coverage of the driver, conductor, security personnel and other employees engaged in the motor vehicle and third party insurance,
(b) Road test of the motor vehicle, and
(c) Renewal of the registration certificate.