Question

What powers does the Authority have regarding the suspension or cancellation of licenses?

a.

The Authority can only suspend licenses under certain conditions

b.

The Authority can only cancel licenses under specific circumstances

c.

The Authority has the power to suspend or cancel licenses under conditions listed in Regulations 34 and 35

d.

The Authority has no power to suspend or cancel licenses

Posted under IC 14 Regulations of Insurance Business

Answer: (c).The Authority has the power to suspend or cancel licenses under conditions listed in Regulations 34 and 35 Explanation:The Authority has the power to suspend or cancel licenses under the conditions listed in Regulations 34 and 35.

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Q. What powers does the Authority have regarding the suspension or cancellation of licenses?
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