Insurance Act, 2049 (1992)
Section 33
Cancellation Of License
(1) If any * Insurance Agent, Surveyor or Broker does not renew his license pursuant to Section 31 or if the Board has become confident that such action has been made against the right and interests of Insurance Policy Holder or committed any action contrary to this Act or the Rules made under this Act, the Board may cancel the license of such *Insurance Agent, Surveyor and Broker.
(2) Before canceling the license pursuant to Sub-section (1), the Board shall provide a reasonable time-limit to him to submit his clarification in  respect to the charge leveled against him.
Insurance Act, 2049 (1992)
Chapter - 4
Section 10: Registration Of The InsurerSection 11: Renewal Of Registration Of The InsurerSection 11A: Circumstance On Which Certificate Of Registration Of The Insurer Cannot BerenewedSection 12: Not To Be RegisteredSection 12A: A Ban May Be Imposed On The Insurance BusinessSection 13: Registration Of An Insurer May Be CanceledSection 14: Loan, Guarantee And Security Not To Be Provided To The DirectorsSection 15: Notice To Be ProvidedSection 16: Payment Of Insurance Claims After The Cancellation Of The InsurerSection 17: Insurer Shall Be ResponsibleSection 18: Appointment Of LiquidatorSection 19: Accounts And Records Of The InsurerSection 20: Separate Accounts To Be MaintainedSection 21: Insurance FundSection 22: Compulsory Reserve FundSection 23: The Balance-sheet To Be SubmittedSection 24: Account Of Income To Be SubmittedSection 25: AuditSection 26: Valuation To Be Made By An ActuarySection 27: Insurance Premium To Be Paid Before Holding The RiskSection 28: Re-insurance To Be MadeSection 29: Legal Representative To Be Appointed