Section 14: Granting of License

If the Accreditation Committee, after the necessary inquiry made into an application submitted under Section 13 for obtaining a license to carry out international financial transactions, deems it appropriate to grant a license to carry out international financial transactions, it shall, upon taking the prescribed amount of license fee, issue a license in the prescribed format setting out therein the necessary terms and conditions. If a license may not be issued, the applicant shall be informed thereof.