Section 25 in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
25. Ownership and control of shares.
(1)The beneficial ownership and control of the shares or contribution or equivalent in case of Insurance broker shall totally and completely rest with the entity/ individual approved by the Authority.(2)The process of transfer of shares or contribution or equivalent in case of Insurance Broker is given in Schedule II - Form T of these regulations.
