(1) Before the issue of a licence under. this Act the Bureau shall direct the applicant -
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| (a) to enter into an agreement with the Bureau -
| | | (i) to carry on the business in a morally irreproachable manner, and |
| (ii) to take all steps as are reasonably possible to ensure that the terms and conditions of any contract of employment between a foreign employer and a. person recruited for employment under such employer by the applicant, are observed by that employer; |
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| (b) to enter into a bond with the Bureau with two sureties in such sum not less than one hundred thousand rupees, as may be determined by the Bureau for the satisfaction of claims which might arise in connection with the business or any con. tract of employment referred to in paragraph (a) ; | | |
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| (c) to furnish a Bank guarantee to the satisfaction of the Bureau in such sum not less than one hundred thousand rupees as may be determined by the Bureau, to be in force for a period of twenty-four consecutive months from the date of issue of a licence for the satisfaction of any claims which might arise in connection with the business or any contract of employment referred to in paragraph(a) ; and | | |
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| (d) to pay the prescribed fee for the licence. | | |
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