Service) Regulations, 2009 shall operate and provide advanced electronic signature certificate management services in the Republic of Kenya subject to the terms and conditions set out in their licence and these Regulations. Service Provider Operational requirements 4. 1) An applicant for a license shall comply with the following operational criteria: (a) have a certification practice statement approved by the Commission; and (b) undergo and pass an initial audit before grant of the licence. Financial requirements 5. An applicant for a license shall comply shall: a) be a company registered in Kenya; b) take out adequate insurance, in accordance with guidelines published by the Commission from time to time, against liability for loss for claims arising out of any error or omission on the part of the applicant, its officers or employees; c) have a paid-up capital of not less than amounts to be determined by the Commission from time to time; and d) provide a performance bond or banker’s guarantee in favour of the Commission as determined by the Commission from time to time. Certification personnel 6. 1) A Certification Service Provider shall take all reasonable measures to ensure that every certification personnel a. b. c. d. e. f. g. is fit and qualified for the services provided; has not been convicted, whether in Kenya or elsewhere of fraud ,theft or any offence under the Act, Amendment Act or these Regulations ; is not an undischarged bankrupt or has entered into a composition or scheme of arrangement with his creditors; has knowledge of the relevant provisions of the Act and these Regulations; is conversant with the Certification Service Provider's certification practice statement; possesses the relevant technical qualifications, expertise and experience to effectively carry out his duties; and possesses any other qualifications that the 5