Section 12(1) in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
(1)Where an application for issuance of Certificate of Registration under these regulations does not satisfy the conditions set out in regulation 8 and 9, the Authority may refuse grant of Certificate of Registration;Provided that no application shall be rejected unless the applicant has been given a reasonable opportunity of being heard.Any applicant, aggrieved by the Order of the Authority, may appeal to the Securities Appellate Tribunal
