(a) issue a licence to an applicant, or renew the licence of an applicant, if the Director is satisfied that the applicant meets all the qualifications and satisfies all the requirements of this Part and the regulations in relation to the application for a licence or for the renewal of a licence, or

(b) refuse under section 37.2 to issue a licence to an applicant or under section 37.21 to renew the licence of an applicant.