An armored car company shall complete an application, in a format determined by the Secretary, to be considered to conduct supplemental background investigations to be considered in the issuance of wear and carry handgun permits to armored car guards for their company. Once approved by the Secretary to conduct and submit supplemental background investigations, an armored car company shall submit supplemental background investigations in a format determined by the Secretary. A valid supplemental background investigation shall meet the same requirements as those required for all wear and carry handgun permit applicants, including any limitations or restrictions imposed by the Secretary.