(1) The insurer shall apply to the office of the committee in the prescribed format along with the prescribed fee every year for the renewal of its certificate of registration. (2) After receiving the application as per sub-section (1), the committee shall renew the certificate of registration. If an insurer fails to submit an application for the renewal of its certificate of registration within the specified period, if it submits an application to the committee within thirty days of the expiry of the opening period, and if the committee deems it appropriate, the certificate of registration of such insurer may be renewed. 11a Renewal of the certificate of registration of the insurer Failure to do so: (1) Notwithstanding anything written in section 11, the committee shall not renew the certificate of registration of the insurer in any of the following cases:- (a) if the balance sheet is not submitted as per section 23, (b) if the income statement is not submitted as per section 24, (c) section If the audit report is not submitted as per section 25, (d) If the insurer's report is not submitted as per section 26, (e) If the insurance service fee is not paid as per section 40, (f) If the insurance business is prohibited as per section 12A (2) Any of the following as per subsection (1) If there is a situation in which the certificate of registration of the insurer cannot be renewed due to the circumstances, the committee shall inform the insurer of the matter within fifteen days of the creation of such situation. If the reason for not being able to waive the request is submitted to the committee within fifteen days from the date of receipt of the notification under sub-section (2), the committee may grant an extension of up to one month to fulfill such obligation if it sees reason.