Registration Rule 11, 12, 13 &22(1)

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....n: The Commissioner may, by order to be published in the official Gazette, specify certain classes of persons who may not be required to furnish a security. (2) Where - (a) an applicant furnishes a security in the prescribed form and for the prescribed amount, and (b) all other forms and evidence required by and prescribed under this Act are complete and in order, the Commissioner shall regi....

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....re, pursuant to clause (b) of sub-section (3) of this section , the applicant furnishes a reply to the notice, the Commissioner may, either accept the application and register the person, or reject the application for reasons to be recorded in writing. (5) If the applicant fails to respond to the notice issued under clause (b) of sub-section (3) of this section within the stipulated time, the app....