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5.—(1) The conditions in the following paragraphs of this regulation must be satisfied—
(a)where the agency is an individual, by that individual;
(b)where the agency is a company, by each director of the company;
(c)where the agency is a partnership, by each partner; and
(d)in any case, by each individual whom the agency proposes to authorise to execute warrants.
(2) None of the individuals referred to in paragraph (1) above must have been convicted of any criminal offence punishable by imprisonment or involving dishonesty or violence.
(3) None of those individuals must be under any liability in respect of overdue fines or court judgments.
(4) None of those individuals must be an undischarged bankrupt.
(5) None of those individuals must carry on or be associated with any business consisting of or including buying or trading in debt.
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