70. The board shall issue a licence, subject to the quota standards prescribed by regulation, for the term it determines to any person(1) who applies therefor on the form prescribed by the rules;
(2) who, in the case of a natural person, meets the age requirements prescribed by the rules;
(3) who successfully passed the competency examinations determined by the rules;
(4) who has completed the studies and has the experience determined by the rules, or recognized equivalents;
(5) who, in the case of a race track licence or a racing licence, has been resident in Québec for at least 12 months or, where the person is a legal person, has its head office or principal establishment in Québec;
(6) who establishes, in the case of a race track licence or horse racing betting house licence, that the race track or horse racing betting house meets the standards prescribed by the rules;
(7) who meets the other requirements of this Act and the rules thereunder;
(8) who furnishes the documents and information that it deems necessary for the examination of the application;
(9) who pays the fees fixed by regulation, in the manner and at the time prescribed.