78.
| (1) An insurer or broker is permitted to appoint an individual as an insurance agent, who shall be registered with such insurer or broker as an insurance agent. Every insurer or broker shall maintain in such manner as specified by the Board by rules made in that behalf, a register of all individuals who are registered with them as insurance agents. |
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| (2) Every insurer or broker is required to send a copy of the register being maintained under subsection (1) annually to the Board, and shall keep the Board informed of any additions or deletions made in the list. |
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| (3) The Board shall have the right to require an insurer or broker as the case may be, to delete the name of any insurance agent appearing in the register submitted to the Board by such insurer or broker, when it considers the person concerned to be unsuitable to function as an insurance agent, having regard to the interests of the policy holders. |
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| (4) The Board may by rules made in that behalf, determine the qualifications required of any person for purposes of being appointed as an insurance agent. |
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| (5) No insurer or broker shall appoint as an insurance agent any individual who is already registered as an insurance agent with any other insurer or broker. |
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Sri Lanka Consolidated Acts