Section 57 in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
57. Voluntary Surrender of certificate of registration.
(1)An Insurance Broker registered under these regulations may make an application to the Authority for surrender of their certificate of registration. The Authority may consider such application on merit.(2)Upon acceptance of the application for surrender made by the insurance broker, the Authority may pass an order for surrender of certificate of registration.(3)The insurance broker whose certificate of registration is surrendered and accepted by the Authority shall have to make arrangements as specified in regulation56.(4)The documents/information required to be submitted for surrender of certificate of registration is as per Schedule III - Form AA to these regulations.
