Section 7 in Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015
7. Procedure where application for grant of license is rejected.
(1)the application for grant of license can be rejected on the following grounds:(a)does not conform with or the applicant fails to comply with the provisions of the Act and these Regulations.(b)if the Authority is of the opinion that the grant of license is not in the interest of the policy holders.Provided that before rejecting any such application, the applicant shall be given a reasonable opportunity of being heard.(2)Where the application for grant of license is rejected, a refund of 60% of the applicable fee received shall be made to the applicant.(3)The rejection of application as stated under (1) above, shall be communicated to the applicant within thirty days of such rejection, stating the grounds for rejection thereof.(4)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 under Sub-Regulation (1) above is received by him.
