7.—(1) Only a Singapore company may apply for and be granted a licence.
(2) A Singapore company may be granted more than one licence.
(3) Before granting a licence to a Singapore company, the Minister must be satisfied that —(a)
the company meets, or is likely to meet, the qualification standards under Annex III, Article 4 of the Convention;
(b)
the company will be applying to the ISA to enter into a corresponding ISA contract;
(c)
it is in Singapore’s interest to grant the licence and sponsor the company’s application for a corresponding ISA contract; and
(d)
any other criteria that may be prescribed are met.
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