(D) No licence to act as a surveyor or loss assessor shall be issued unless--
(i) the applicant, where he is an individual, satisfies the Controller that he--
(a) has been in practice as a surveyor or loss assessor on the 26th day of October, 1968 , or
(b) holds a degree of a recognized University in any branch of engineering, or
(c) is a fellow or associate member of the Institute of Chartered Accountants of India or the Institute of Cost and Works Accountants of India, or
(d) possesses actuarial qualifications or holds a degree or diploma of any recognized University or institute in relation to insurance, or
(e) holds a diploma in insurance granted or recognized by the Government, or
(f) possesses such other technical qualification as may be prescribed, and
(g) does not suffer from any of the disqualifications mentioned in sub- section (4) of section 42;
(ii) the applicant, where he is a company or firm, satisfies the Controller that all his directors or partners, as the case may be, possess one or more of the qualifications specified in clause (i) and none of such directors or partners suffer from any of the disqualifications mentioned in sub- section (4) of section 42.