41. In deciding whether to make an order under section 43, the Minister shall have regard to the following matters:

(a) if the needs of students, business, enterprise, the professions, the community, local interests and other related stakeholders in the region in which the campuses of the applicant college and applicant technological university are located would be more efficiently and effectively served if the order were made;

(b) if the projected demand, based on demographic trends, for higher education in the region in which the campuses of the applicant college and applicant technological university are located, would justify the making of the order;

(c) if sufficient financial resources are available to the applicant college and applicant technological university to meet the projected costs arising on the making of the order;

(d) if the applicant college and the applicant technological university would together be financially viable if the order were made;

(e) if making the order would comply with such policies of the Government as relate to higher education.