No.l2 2015 (b) the names and details of the qualifications and experience of the applicant's directors and principal officers; and (c) details of the applicant's authotised and issued share capital; and the name, address and such other particulars as may be presc1ibed of each person who holds five per centum or more of the applicant's voting stock; and the prescribed fee; and (d) (e) (1) such other infonnation and documents as may be prescribed or as the Registrar may reasonably require. (2) Before deciding whether or not to grant an application submitted intenns of subsection (1), the Registrar shall, through the Govemor, notify the ~{inister and shall provide the ~finister with such infonnation regarding the application as the Minister may reasonably require. (3) Subject to subsection (4), if on consideration of an application in terms of subsection (1) the Registrar is satisfied that(a) the applicant is a public company; and (b) the applicant's memorandum aud articles of association contain no provision that is inconsistent with this Act or that is undesirable in so far as it concems banking institutions; and (c) the applicant's directors and principal officers(i) as far as can be reasonably ascertained, arc fit and proper persons to hold the offices concerned; and (ii) have sufficient qualifications and experience to manage the affairs of the applicant in its capacity as a controlling company; and (d) every person who holds five per centum or more of the applicant's voting stock is, so far as can be reasonably ascertained, a fit and proper person to be a member of a controlling company; and (e) the applicant is in a financially sound condition; and (f) generally, the applicant will comply with such of the provisions of this Act as are applicable to it; the Registrar shall register the applicant as a controlling company. (4) Subject to section 73, if on consideration of an application in terms of subsection (1) the Registrar(a) is not satisfied as to any matter refened to in paragraphs (a) to (f) of subsection (3); or (b) considers that it would not he in the public interest to register the applicant as a controlling company; he or she shall refuse to register the applicant concemed: Provided that(i) before refusing to register an applicant, the Registrar shall notify the applicant, in writing, that he or she proposes to refuse the application and of the reasons for doing so, and shall afford the applicant an adequate opportunity to make representations in the matter; 219