(a)the applicant shall obtain from the Controller of Insurance a form of application for a license which shall be-(i)in the case of an individual, whether working as a sole proprietor of a firm or not Form XVIII-AI or XVIII-BI. Form XVIII-AI shall be used when the applicant applies for a license for the first time or for a license, while Form XVIII-BI shall be used when the applicant applies for the renewal of the license already held by him;(ii)in the case of a company or firm, Form XVIII-AF, or Form XVIII-BF, Form XVIII-AF shall be used when the applicant applies for a license for the first time or for a fresh license, while Form XVIII-BF shall be used when the applicant applies for the renewal of the license already held by him;
