Section 14 in Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017
14. Procedure where renewal of registration is not granted .
(a)Where an application for renewal thereof under regulation 13, does not satisfy the conditions set out in Regulation 7, the Authority may refuse to renew the Certificate of Registration:Provided that no application shall be rejected unless the applicant has been given a reasonable opportunity of being heard.(b)The refusal to renew a Certificate of Registration shall be communicated by the Authority within thirty days of such refusal to the applicant stating therein the grounds on which the application has been rejected.(c)Any applicant aggrieved by the decision of the Authority may make an appeal to Securities Appellate Tribunal, as per the procedure prescribed for such an appeal, within a period of forty-five days from the date on which a copy of the order made by the Authority under sub-regulation (b) above is received by it.
