The Director General may make his decision to shut down the branch of an insurance company established in the State and strike off its registration in any of the following cases:
Should the approval to open the branch happened to be made on basis of inaccurate information,
Should the branch lack any of the principle requisites for granting the approval to open it.
Should the branch violate the provisions of the Law, the executive regulation, the rules or directives issued by the Authority.
Should the branch cease carrying out its works for a period of (12) month.
In case a decision to shut down and strike off the branch is being made, the Director General shall inform the company as so according to the provisions of the Law and the registration of the branch shall be stricken off the special register prescribed for the purpose by the Authority.
The company shall have the right to appeal the decision of the Director General before the Board within thirty days as from date of notification.
The resolution of the Board rejecting the appeal shall be final.