STEP ONE

Section 48 of the SIA provides that every application for registration as a securities intermediary shall -

1. Be made to the Council in the prescribed form. See Form 2 of First Schedule of the Securities Industry (Registration of Market Participants) Regulations 2002.
2. Be accompanied by such fees as prescribed. See Second Schedule of the Securities Industry (Registration of Market Participants) Regulations.

STEP TWO

1. Every application for the registration of a securities intermediary shall have the basic qualifications as set out in Section 47(3) and as amended Section 47A. See Fit and Proper Assessment
2. Every application for the registration of a securities intermediary shall have a minimum paid up capital as prescribed by the Council.
3. Every application must provide proof of an indemnity insurance policy as required under Section 55 of the SIA;
4. Every application for the registration of a securities intermediary as a trade in securities shall be signed jointly by the applicant and by a broker of a securities company under whose direction and supervision it is proposed that the applicant operate as a trader. See Form 3 of the First Schedule of the Securities Industry (Registration of Market Participants) Regulations 2002.