Cap. 487 Art. 13Grant of registration or enrolment by competent authority to insurance and reinsurance intermediaries.

(1) An application for registration or enrolment under this article shall be made in such form and manner as the competent authority may from time to time determine.

(2) The competent authority shall have the power to require an applicant to provide such information as it may deem necessary for the purpose of determining an application for registration or enrolment under this article.

(3) The competent authority may grant registration or enrolment under this article only if it is satisfied on the basis of information required to be submitted under this Act and any regulations or Insurance Distribution Rules made thereunder, and any information received by it, that registration or enrolment ought to be granted.

(4) Subject to the provisions of this Act, the competent authority may subject registration or enrolment made under this article to such conditions as it may from time to time deem fit to impose.

(5) The competent authority shall determine an application for registration or enrolment under this article within three months of receiving the information required to be submitted under this Act and any regulations or Insurance Distribution Rules made thereunder. The competent authority shall notify the applicant of its decision, without undue delay; and if it refuses to grant the registration or enrolment it shall inform the applicant in writing of the reasons for the

(6) The validity of the registration or enrolment under this article shall be subject to a regular review by the competent authority.