The decision on the license application shall be held as follows:

1. If the application is complete with all data and supporting documents, the Director General shall issue an initial approval to proceed with the procedures of incorporation and registration of the licensee applicant with the competent authorities in the State. In case of disapproval, the decision of the Director General shall be issued with the reasons thereof.
    
2. Subject to the provisions of Clause (1) of this Article, the applicant who has obtained the initial approval shall submit the following documents and data:
    
   1. A certified document from a bank operating in the State to prove the full payment of the minimum capital as set in Clause (3) of Article (5) of these Instructions.
   
   
   2. A proof of completing all procedures of the applicant’s incorporation and registration with the competent authorities in the State, as applicable.
   
   
   3. A list of candidates for the position of director of the Health Insurance Third Party Administrator or the officers in charge, as applicable, and the key employees thereof along with a detailed statement of their respective qualification, experience, an a proof of their fulfillment of the conditions, in addition to the names of authorized signatories.
   
   
   4. Any other data, information or documents required by the Director General.
       
3. If the application is complete with all data and supporting documents set forth in Clause (2) of this Article, the Director General shall issue his decision to grant the license, and the Health Insurance Third Party Administrator shall be registered in the Special Register created for this purpose in the IA.