(1) After receiving the application of a domestic or foreign organized organization to register its name as an insurance company according to Rule 7, the committee shall carry out necessary investigations on the said application and if there is any matter to be understood with the applicant organized organization, the name of such applicant organized organization as an insurance company shall be registered in Schedule-2 The following must be registered in the registration book.
(2) According to sub-rule (1), after registering the name of the applicant organized organization in the registration book, the committee shall issue a certificate in the format as per Schedule-3, mentioning the type of insurance business that such applicant organized organization can do.