Section 9 in Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017
9. Procedure for Grant of Certificate of registration.
(a)On the applicant fulfilling the requirements mentioned in these Regulations and the Authority being of the opinion that the grant of registration will be in the interest of policyholders, the Authority shall grant certificate of registration to the applicant to function as an Insurance Web Aggregator as per Form E (Certificate of Registration) of Schedule I of these Regulations.(b)The certificate of registration shall be issued subject to the applicant adhering to the conditions and the code of conduct as may be specified by the Authority from time to time.(c)In case a certificate of registration issued under the regulations which were in force prior to the notification of these regulations, is cancelled/ surrendered or renewal rejected by the Authority for the reasons specified therein, the applicant may make a fresh application for grant of registration only after lapse of one year from the effective date of such cancellation/ surrender or rejection of renewal of registration, for consideration of the Authority. The Authority may consider such application on merit.
