Hi,
Forwarding the extract of the act for your reference.
10. Eligibility to be a private security guard.—(1) A private security agency shall not employ or engage any person as a private security guard unless he—
(a) is a citizen of India or a citizen of such other country as the Central Government may, by notification in the Official Gazette, specify;
(b) has completed eighteen years of age but has not attained the age of sixty-five years;
(c) satisfies the agency about his character and antecedents in such manner as may be prescribed;
(d) has completed the prescribed security training successfully;
(e) fulfills such physical standards as may be prescribed; and
(f) satisfies such other conditions as may be prescribed.
(2) No person who has been convicted by a competent court or who has been dismissed or removed on grounds of misconduct or moral turpitude while serving in any of the armed forces of the Union, State Police Organizations, Central or State Governments, or in any private security agency shall be employed or engaged as a private security guard or a supervisor.
(3) Every private security agency may, while employing a person as a private security guard, give preference to a person who has served as a member in one or more of the following, namely:—
(i) Army;
(ii) Navy;
(iii) Air Force;
(iv) any other armed forces of the Union;
(v) Police, including armed constabularies of States; and
(vi) Home Guards.
11. Conditions of license.—(1) The State Government may frame rules.