Clarification and relaxation powers permit written-reasoned relief from regulatory conditions where implementation difficulties arise in practice. Regulation 27 empowers the Chairperson to issue necessary clarifications where difficulties arise in implementing the regulations. The Chairperson may ... Summary
Referred In :
International Financial Services Centres Authority (Insurance Web Aggregator) Regulations, 2022
Clarification and relaxation powers permit written-reasoned relief from regulatory conditions where implementation difficulties arise in practice.
Regulation 27 empowers the Chairperson to issue necessary clarifications where difficulties arise in implementing the regulations. The Chairperson may also relax conditions mentioned in the regulations, provided reasons for the relaxation are recorded in writing. The provision forms part of the miscellaneous regulatory framework for insurance web aggregators.
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