Discuss (c) Priority queue

The insurer's entry licence: the Insurance Act's registration (no insurance business without the Authority's registration — the unlicensed business's offence). The conditions: the company's form (the public company's requirement — the Companies Act's interface); the minimum paid-up capital (the life-and-non-life scales — the Act's-and-directives' amounts); the promoters' fitness (the directors'-and-promoters' character-and-capacity); the business plan's soundness (the product-and-market faces); the reinsurance arrangements (the risk-management proof); the deposit-and-securities' faces; the management's competence (the key persons' qualifications). The non-registration's grounds: the capital's shortfall; the promoters' unfitness; the plan's unsoundness; the market's saturation (the regulator's discretion faces); the incomplete application's rejection.