Certificate of registration procedure requires eligibility compliance, financial thresholds, and insurance coverage before final registration is issued. The procedure for issuance of a Certificate of Registration for a managing general agent begins with consideration of the application by the Competent Authority, which may grant in-principle approval only if the applicant has satisfied the prescribed eligibility conditions and paid the applicable fees. Final registration may be issued only after the Competent Authority is satisfied with compliance with the initial approval requirements and with other regulatory conditions, including the prescribed capital requirement, net worth requirement, and professional indemnity policy.