1. The competent authorities of the home Member State of the AIFM shall not grant authorisation unless:
(a) they are satisfied that the AIFM will be able to meet the conditions of this Directive;
(b) the AIFM has sufficient initial capital and own funds in accordance with Article 9;
(c) the persons who effectively conduct the business of the AIFM are of sufficiently good repute and are sufficiently experienced also in relation to the investment strategies pursued by the AIFs managed by the AIFM, the names of those persons and of every person succeeding them in office being communicated forthwith to the competent authorities of the home Member State of the AIFM and the conduct of the business of the AIFM being decided by at least two persons meeting such conditions;
(d) the shareholders or members of the AIFM that have qualifying holdings are suitable taking into account the need to ensure the sound and prudent management of the AIFM; and
(e) the head office and the registered office of
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