Section 36 in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
36.
No insurer shall launch any product unless the Board or its delegated risk committee certifies to the Authority that "all the system requirements on an ongoing basis for the product............. (product name) to be launched are established and the systems enable the insurer from day of launch of the product, to perform seamlessly all the day-to-day operations, computation of NAV on a daily basis and enables to submit all the necessary reports and returns as required under the Act, the IRDA Act, Rules or Regulations framed thereunder from time to time". The certificate shall be submitted to the Authority before the launch of the product.Chapter-XIII Miscellaneous Provisions
