Section 6 in The Insurance Regulatory And Development Authority (Appointed Actuary) Regulations, 2000
6. Cessation of appointment of Appointed Actuary
.-(1) An appointed actuary shall cease to be so, if he or she has given notice of withdrawal of approval by the Authority on the following grounds:-(a)that he or she ceases to be eligible in accordance with sub-regulation (2) of regulation 3; or(b)that he/she has, in the opinion of the Authority, failed to perform adequately and properly the duties and obligations of an appointed actuary under these regulations.(2)The Authority shall give an appointed actuary a reasonable opportunity of being heard, if he or she has been given a notice of withdrawal of approval by it.(3)If a person ceases to be an appointed actuary of an insurer otherwise than on the grounds mentioned in sub-regulation (1), the insurer and the appointed actuary shall intimate the Authority the reasons therefor within fifteen days of such a cessation.
