10. Restrictions on grant of licence

A licence shall not be granted under section 9(3) where —

if the applicant is an individual, he has been convicted of an offence involving fraud or dishonesty or is an undischarged bankrupt;

if the applicant is an unincorporated body of persons, one of its members or partners has been convicted of an offence involving fraud or dishonesty or is an undischarged bankrupt;

if the applicant is a body corporate, an individual holding office as a director, manager, treasurer or secretary has been convicted of an offence involving fraud or dishonesty or is an undischarged bankrupt.