The grounds for exclusion from the register of insurance agents shall be:
1) a supervisory response measure, except for a recommendatory supervisory response measure, applied by the authorized body to the insurance company on the identified violations of the legislation of the Republic of Kazakhstan, committed by an insurance agent;
2) identification by the insurance company of conclusion by an insurance agent of insurance contracts contradicting the requirements of the legislation of the Republic of Kazakhstan;
2-1) identification by the insurance company of non-fulfillment by an insurance agent of obligations arising from the terms of the agency contract;
3) an identification of non-compliance of a person exercising brokering activity of an insurance agent with the requirements provided for in paragraph 1 of this Article, by the authorized body, an insurance company;
4) termination of the contract of order by agreement of the parties;
5) failure to implement by an insurance agent of intermediary activity on conclusion of insurance contracts within the last two years.
In case of an exception of an insurance agent of the register of insurance agents on the bases provided in subparagraphs 1), 2) and 3) of part one of this point, implementation of activity of an insurance agent within five years from the moment of his exception is forbidden to this person.
In case of termination of the contract of the order concluded between insurance company and an insurance agent on the bases which are not connected with the circumstances provided in subparagraphs 1), 2) and 3) of part one of this point, information on an insurance agent is subject to removal from the register of insurance agents after one year from the date of termination of the contract of order.
An employee of an insurance agent, being a legal entity, committed a violation of the legislation of the Republic of Kazakhstan on insurance and insurance activities, shall be excluded from the list of employees, whose duties include the conclusion of insurance contracts.