Section 17 in Insurance Regulatory and Development Authority of India (Third Party Administrators - Health Services) Regulations, 2016
17. Voluntary Surrender of Certificate of Registration.
(1)A TPA may choose to voluntarily surrender its Certificate of Registration by making an application to the Authority stating the reasons for surrender and shall be accompanied by such documents as may be specified by the Authority from time to time. The Authority may consider such application on merits and subject to such conditions as it may deem fit to impose.(2)On being satisfied with the reason for surrender, the Authority may pass an order agreeing to the surrender of Registration by the TPA.(3)The order permitting the voluntary surrender shall be displayed on the website of the Authority for information of general public and the insurance companies for necessary action.(4)A TPA, in respect of which an Order for surrender of Registration has been passed by the Authority, shall comply with the requirements mentioned in Regulation 18 of these regulations.
