10.2. A students’ association alliance which, at the time of its application for accreditation,
(1) is incorporated under Part III of the Companies Act (chapter C-38),
(2) has been joined by over one-half of the accredited or, within the meaning of section 56, recognized associations which will eventually be contemplated by the accreditation, by resolution of the board of directors of each, and these associations together comprise over one-half of the students of the institution concerned, or comprise over one-half of the students of each of the groups of students contemplated in section 2.1 who will eventually be contemplated by the accreditation,
is entitled to accreditation.