Section 7: Rejection of application or appeal.

(1) Where the Commission is not satisfied, it shall give notice in writing to the applicant within 60 days of the submission of the application of the Commission's intention to reject the application.
(2) Any applicant aggrieved by the intention of the Commission to reject an application for registration as an insurer may within 30 days after the notice of the Commission's intention to reject application, appeal to the Minister of Finance.
(3) Notwithstanding the provisions of subsections (1) and (2) of this section, the applicant on satisfying the condition stipulated in the notice, may reapply to the Commission within or before the expiration of 30 days from date of receipt of the notice.
(4) The appeal under subsection (2) of this section shall be in writing, setting out the grounds on which it is made.
(5) The Minister shall, within 60 days after the receipt of an appeal lodged in accordance with this section, give his decision.
(6) The Commission shall, unless the appeal is withdrawn, give notice in writing to the applicant of the decision of the Board and where the appeal is allowed, the Commission shall register the person as an insurer and notify him in writing accordingly.
(7) If an appeal is disallowed, the Commission shall cause a notice to be published in the Gazette and in such other manner to ensure wide publicity as it may determine.