Section 15 in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
15. Procedure where a renewal of certificate of registration is not issued.
(1)Where an application for renewal thereof, does not satisfy the conditions set out in regulation 8,9, and 14, the Authority may refuse to issue the certificate of registration-Provided that no application shall be rejected unless the applicant has been given a reasonable opportunity of being heard.(2)The refusal to issue certificate of registration shall be communicated by the Authority within thirty days of such refusal to the applicant stating therein the grounds on which the application has been rejected.(3)Any applicant, aggrieved by the decision of the Authority, may appeal to the Securities Appellate Tribunal.
