Procedural powers for insurance intermediaries enable guidelines, circulars and relaxations to facilitate regulated insurance and reinsurance services in IFSCs.

Regulation 28 empowers the Authority to prescribe norms, procedures, processes and methods, and to grant relaxations through guidelines or circulars in accordance with the Act. The power supports implementation of the insurance intermediary regulatory framework and matters incidental to it, while facilitating and regulating insurance and reinsurance financial services in an IFSC.

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