Section 14(9) in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
(9)The category certificate of registration of an insurance broker may be modified by restricting its operation in a particular category where the certificate of registration was already issued by the Authority for the reasons specified in writing and after giving due notice to the insurance broker. In any case, no restriction of category of the certificate of registration shall be done unless the insurance broker has been given a reasonable opportunity of being heard.Note: Documents to be attached with renewal application by insurance brokers as per Schedule I - Form M, Schedule I - Form N and Schedule I - Form O.
