55(1)The Registrar, upon receiving application accompanied by the required fee, and when satisfied that the applicant is of good character, and so far as can be ascertained has complied with this Act and the regulations, shall issue to the applicant a licence valid up to and including December thirty-first of each year which shall entitle the licensee to carry on and conduct the business of a dealer, sub-dealer, used motor vehicle dealer or wrecker, as the case may be, at any one place of business during the calendar year in which the licence is issued, and may renew each such licence upon application and payment of the fee required by law.