Constitution of licensee’s firm or company
16.—(1)  If the licensee is a partnership, all the members of the partnership must be approved by the Board.
(2)  If the licensee is a company, all the directors of the company must be approved by the Board.
(3)  The licensee shall inform the Board of --
(a)the withdrawal by, or the expulsion of, any partner from the partnership;
(b)the resignation or removal of any director of the company;
(c)the death of any partner or director; and
(d)any new issue of shares or any change in the beneficial or legal ownership of any shares in the company.