5. A licence shall not be granted unless -
(a) the applicant
| | (i) if an individual, is a citizen of Sri Lanka ; | | |
| | (ii) if a firm, is a firm the partners of which are citizens of Sri Lanka ; or | | |
| | (iii) if a company, is a company, the majority of whose shares in the capital of the company is held by citizens of Sri Lanka ; and | | |
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(b) the applicant if an individual, or in the case of a firm or company, the person to be in charge of the business, is a person of good repute ; and |
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(c) the premises in which the business is to be carried on are suitable, having regard to the locality in which the premises are situated, the size of the premises and the facilities in those premises. |
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