(1) A registered buyer may apply to the manager to have the name or names of persons employed or nominated by him entered on the register as a nominee buyer or nominee buyers to act as agents of the applicant.
(2) On receipt of an application under paragraph (1) the manager may-
(a) accept any such person as a nominee buyer of the applicant, subject to the condition that he should observe the provisions of these by-laws and of any administrative rules made by the Organization and duly displayed in accordance with by-law 6; or
(b) refuse to accept any such person as a nominee buyer of the applicant, on the grounds that-
(i) the person is not a suitable person; or
(ii) a sufficient number of nominee buyers are already registered as nominee buyers of the applicant.
(3) The manager shall, if requested to do so, state in writing the grounds for his refusal to accept any person as a nominee buyer of the applicant.