(1) An insurance agent, surveyor or broker shall submit an application to the office of the committee in the prescribed format by the end of Chaitra every year for the renewal of their license. The letter must be renewed. (3) If an insurance agent, surveyor or broker fails to submit an application for the renewal of his license within the period specified in sub-section (1), and if the committee deems it necessary to do so, the committee may extend the period by a maximum of six months by taking additional fees as specified. can