16. To qualify for a grant under section 14, a group operation must meet the conditions prescribed by regulation, and every member of the group contemplated in paragraphs 1 to 3 of the first paragraph of section 14 must
(1) be at least 18 years of age and, on the date he acquires or completes, as the case may be, holdings of not less than 20% in the operation and on the date the application for such a grant is received by the Bureau, be under 40 years of age and meet the conditions which may be fixed by regulation as to schooling, farming experience or vocational training;
(2) meet the conditions prescribed in subparagraphs b and d of paragraph 2 of section 7;
(3) not, as a farm operator or as a farmer, have previously qualified a group operation for all or part of a grant it received under the Act to promote the development of agricultural operations (chapter M-36) nor have, himself, previously received all or part of such a grant or of any of the benefits referred in paragraphs a to d of subparagraph 5 of the first paragraph of section 6;
(4) prove to the Bureau, taking his holdings in the operation into account, that the farm contemplated in section 2 or, as the case may be, the new farm contemplated in section 8, will continue to be economic.