Section 135: Authority May Give Direction to Withold Payment of Insurance or Revoke the Insurance Policy

Notwithstanding anything contained in this Act, the Authority may give direction not to issue insurance policy to anyone or withhold the payment of an amount to be paid as  per the insurance policy or revoke (cancel) the insurance policy in the following circumstances:

(a) To prevent from being any action against the interest of the insurance business or the insured,

(b) To assist in the investigation of any offence,

(c) To assist in controlling the offence of money laundering and financial investment in activities pertaining to terrorism, fraud, corruption, human trafficking or other organised crime.