(c)the Controller of Insurance or the officer authorised by him may, after taking all reasonable steps to satisfy himself that the application is in order, that the applicant fulfils the requirements of clause (D) of sub-section (1) of section 64-UM of the Act and that the applicant is not disqualified from holding a license, issue a license to him or, as the case may be, renew the license. The license shall be in Form XVIII-AAI in the case of an individual and in Form XVIII-AAF in the case of a company or firm. Renewal of license shall be in Form XVIII-BBI in the case of an individual and in Form XVIII-BBF in the case of a company or firm;
