82.
| (1) Where the Board is satisfied that"
| | (a) the volume of business which is likely to be available to and the earning prospects of an applicant are adequate ; | | |
| | (b) the business in respect of which the application is made will be conducted in accordance with accented professional standards ; | | |
| | (c) the financial standing of the applicant is sound : | | |
| | (d) the knowledge, skill and experience in insurance broking business of those in the applicant's employment are adequate : and | | |
| | (e) the company is registered under the Companies Act, No. 17 of 1982 for the sole purpose of carrying on insurance broking business. | | |
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| (2) Upon the registration of an insurance broker under subsection (1), a certificate of registration shall be issued by the Board to the applicant, subject to such conditions as shall be specified therein, and which shall be valid for a period of one year. Separate certificates of registration shall be issued in respect of long term insurance business and general insurance business. |
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| (3) The certificate of registration issued by the Board shall authorise the holder to carry on such business as specified therein. |
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| (4) A certificate of registration issued to a broker under this section shall not be"
| | (a) transferred to any other person, and any such transfer shall be null and void ; and | | |
| | (b) used for the benefit of any other person. | | |
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| (5) The Board may at any time add to. vary or revoke any existing conditions of registration of an insurance broker or impose new conditions. |
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Sri Lanka Consolidated Acts