Section 26 in The Insurance Regulatory And Development Authority (Insurance Brokers) Regulations, 2002
26. Submission of half-yearly results .-(1) Every insurance broker shall before 31st October and 30th April each year furnish to the Authority a half-yearly un-audited financial statement containing details of performance, financial position, etc., alongwith a declaration confirming the fulfillment of requirements of capital in accordance with the provisions of regulation 10 and deposit requirements in accordance with the provisions of regulation 22.
(2)Failure to comply with the regulation of sub-regulation (1) will lead to an action, in accordance with the provisions of regulation 34 being taken against the insurance broker.
