(1) The Bank shall not grant an application for authorisation by an investment firm unless it satisfies the Bank -

(a) that it is -

(i) a company incorporated by statute or under the Companies Act 2014,

(ii) incorporated outside the State,

(iii) a company established by Royal Charter,

(iv) a partnership,

(v) an industrial and provident society, or

(vi) an individual,

(b) that the memorandum of association and articles of association or other constituting documents of the investment firm (if any) contain sufficient provision to enable it to operate in accordance with -

(i) these Regulations, and

(ii) any conditions and requirements imposed by the Bank,

(c) as to the probity and competence of each person who is a director or manager of the investment firm,