(1) An application for authorisation of a proposed management company shall be in such form and contain such particulars as the Bank shall reasonably specify from time to time and, without prejudice to the generality of the foregoing, shall include such particulars or information as the Bank may request in relation to -
(a) the type of business to be carried on or likely to be carried on by the company,
(b) any person or persons having a qualifying shareholding in, or having ownership of, the company, and
(c) the memorandum of association and articles of association of the company.
(2) A proposed management company shall not be authorised by the Bank unless it satisfies the Bank -
(a) that the company has made arrangements to ensure that its activities will be carried out in such a manner that the requirements of these Regulations are complied with,
(b) that, where applicable, the memorandum of association and articles of association of the company contain sufficient provision so as to
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