Section 24 in Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015
24. Cancellation of license.
(1)Where it is found that a Surveyor and Loss Assessor suffers from any of the disqualifications mentioned in section 42D of the Act or has knowingly contravened any provisions of the Act or the IRDA Act, or the Rules or Regulations made under those Acts or any order or directions or instructions issued by the Authority, the Authority may, cancel his license, with effect from such date as may be specified by it.Provided that the Authority shall give a reasonable opportunity to the person concerned, of being heard, before cancellationProvided further that the powers conferred on the Authority in this Sub-Regulation are without prejudice to the powers conferred on it by Section 64UM of the Act.(2)The Authority may also cancel the license if it is of the opinion that the continuation of such license would be prejudicial to the interests of policyholders.(3)A surveyor whose license has been cancelled for any reason, may submit an application for issuance of license, after the expiry of one year from the date of such cancellation, and, such an application shall be treated as an application for grant of fresh license, and accordingly the applicant shall satisfy all the requirements stated under Regulation 3 or Regulation 4, as the case may be.
