Section 17(a) in Insurance Regulatory and Development Authority of India (Lloyd's India) Regulations, 2016
(a)Where an application for registration is not complete in all respects and does not conform to the regulations or instructions specified in Form IRDAI/ Lloyd's/ R2, and after considering the matter referred to in regulations 15, 16 and 19 and on being satisfied that it is not desirable to grant a certificate of registration the Authority, by an order, may reject the application.
