Section 9(3) in Insurance Regulatory and Development Authority of India (Third Party Administrators - Health Services) Regulations, 2016
(3)A TPA which has been granted Certificate of Registration shall commence business operations within twelve months from the date of grant of Certificate of Registration by the Authority. [Where a TPA could not commence the business operations within twelve months as stipulated, it shall, within thirty days before the expiry of twelve months from the date of grant of certificate of registration by the Authority, seek in writing further extension of time substantiating the reasons thereof. The Authority on considering the request may grant a further period of six months to the TPA to commence the business operations.Provided that where the TPA did not commence the business operations within the period stipulated under this sub-regulation, the Authority shall cancel the certificate of registration and publish the same in its website for information of general public.] [Inserted by Notification F. No. IRDAI/Reg/15/166/2019, dated 3.12.2019 (w.e.f. 14.3.2016).]
