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

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....ay be prescribed. Explanation:  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 o....

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....licant shall be deemed to be registered for the purposes of this Act, and the Commissioner shall issue a certificate of registration to such person. (4)  Where, 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 rec....