Section 65 in The Insurance Regulatory And Development Authority (Conditions Of Service Of Officers And Other Employees) Regulations, 2000
65. Review .-The authority may, at any time, either on its own motion or otherwise review any order passed under these regulations, when any new material or evidence which could not be produced or was not available at the time of passing the order under review and which has the effect of changing the nature of the case, has come, or has been brought to his notice:
Provided that no order imposing or enhancing any penalty shall be made by the authority unless the officer and other employee concerned has been given a reasonable opportunity of making a representation against the penalty proposed or where it is proposed to impose any of the major penalties specified in regulation 49 or to enhance the minor penalty imposed by the order sought to be reviewed to any of the major penalties and if an enquiry under regulation 52 has not already been held in the case, no such penalty shall be imposed except after inquiring in the manner laid down in regulation 52.
