Section 10 in Insurance Regulatory and Development Authority of India (Lloyd's India) Regulations, 2016
10. Requisition for Registration Application.
(a)An applicant shall be eligible to apply for requisition of application, if such applicant upon registration will be an insurer as defined in section 2(9)(d) of the Act:Provided that the applicant whose:i. requisition for registration application has been rejected by the Authority at any time during the preceding three financial years on the date of requisition for registration application; orii. application for registration has been rejected by the Authority at any time during the preceding three financial years on the date of requisition for registration application; oriii. certificate of registration has been cancelled or withdrawn by the Authority in the preceding three years;shall not be eligible to make a requisition for registration application under these regulations.
