Bare Act Search Results

Marine Insurance Act, 1963 Section 20

Title: Disclosure by Assured

State: Central

Year: 1963

.....be disclosed, namely:-- (a) any circumstance which diminishes the risk. (b) any circumstance which is known or presumed to be known to the insurer. The insurer is presumed to know matters of common notoriety or knowledge, and matters which an insurer in the ordinary course of his business as such ought to know; (c) any circumstance as to which information is waived by the insurer; (d) any circumstance which it is superfluous to disclose by reason of any express or implied warranty. (4) Whether any particular circumstance, which is not disclosed, be material or not is, in each case, a question of fact. (5) The term "circumstance" includes any communication made to, or information received by, the assured.

Government of India Act, 1915-19 [Repealed] Section 30

Title: Power to Execute Assurances, Etc., in India

State: Central

Year: 1915

.....proper assurances for that purpose, and rules made under this Act may provide for the conditions under which this power shall be exercisable.] (2) Every assurance and contract made for the purposes of4[subsection (1) of this section] shall be executed by such person and in such manner as the Governor-General in Council by resolution directs or authorises, and if so executed may be enforced by or against the Secretary of State in Council for the time being. (3) All property acquired in pursuance of this section shall vest in His Majesty for the purposes of the government of India. ________________________ 1. These words were inserted by Sch. I of the Government of India (Amendment) Act, 1916 (6&7 Geo. 5, Ch. 37). 2. These words were inserted by Sch. I of the Government of India (Amendment) Act, 1916 (9&7 Geo. 5, Ch. 37). 3. Sub-section (1a) was inserted by Part II of Sch. II of the Government of India Act, 1919 (9&10 Geo. 5, Ch. 101). 4. These words and figures were substituted for the words "this section" by Part II of Sch. II of the Government of India Act, 1919 (9&10 Geo. 5, Ch. 101).

Marine Insurance Act, 1963 Section 53

Title: Assured Who Has No Interest Cannot Assign

State: Central

Year: 1963

Where the assured has parted with or lost his interest in the subject-matter insured, and has not, before or at the time of so doing expressly or impliedly agreed to assign the policy, any subsequent assignment of the policy is inoperative: Provided that nothing in this section affects the assignment of a policy after loss.

Transfer of Property Act, 1882 Section 59

Title: Mortgage when to Be by Assurance

State: Central

Year: 1882

1 59. Mortgage when to be by assurance Where the principal money secured is one hundred rupees or upwards, a mortgage 2 [other than a mortgage by deposit of title-deeds] can be effected only by a registered instrument signed by the mortgagor and attested by at least two witnesses. Where the principal money secured is less than one hundred rupees, a mortgage may be effected either by 3 [a registered instrument] signed and attested as aforesaid, or (except in the case of a simple mortgage) by delivery of the property. 4 [* * *] _______________________ 1. As to limitation to the territorial operation of section 59, see section 1, supra Section 59, extends to every cantonment--see section 287 of the Cantonments Act, 1924 (2 of 1924) 2. Inserted by Act 20 of 1929, section 20. 3. Substituted by Act 6 of 1904, section 3, for "an instrument". 4. The third paragraph was omitted by Act 20 of 1929, section 20.

Marine Insurance Act, 1963 Schedule I

Title: Schedule

State: Central

Year: 1963

.....said goods and merchandises, and ship, etc., or any part thereof. And in case of any loss or misfortune it shall be lawful to the assured, their factors, servants and assigns, to sue, labour, and travel for, in and about the defence, safeguards and recovery of the said goods and merchandises and ship etc., or any part thereof, without prejudice to this Insurance; to the charges whereof we, the assurers, will contribute each one according to the rate and quantity of his sum herein assured. And it is especially declared and agreed that no acts of the insurer or insured in recovering, saving, or preserving the property insured shall be considered as a waiver, or acceptance of abandonment. And so we, the assurers, are contended, and do hereby promise and bind ourselves, each one for his own part, our heirs, executors, and goods to the assured, their executors, administrators, and assigns, for the true performance of the premises, confessing ourselves paid the consideration due into us for this assurance by the assured, at and after the rate of. In witness whereof, we, the assurers, have subscribed our names and sums assured in MEMORANDUM N.B.-- Corn, fish, salt, fruit,.....

Marine Insurance Act, 1963 Complete Act

State: Central

Year: 1963

.....NEGOTIATION OF CONTRACT (1) Every material representation made by the assured or his agent to the insurer during the negotiations for the contract, and before the contract is concluded, must be true. If it be untrue the insurer may avoid the contract. (2) A representation is material which would influence the judgment of a prudent insurer in fixing the premium, or determining whether he will take the risk. (3) A representation may be either as to a matter of fact, or as to a matter of expectation or belief. (4) A representation as to a matter of fact is true, if it be substantially correct, that is to say, if the difference between what is represented and what is actually correct would not be Considered material by a prudent insurer. (5) A representation as to a matter of expectation or belief is true if it be made in good faith. (6) A representation may be withdrawn or corrected before the contract is concluded. (7) Whether a particular representation be material or not, is, in each case, a question of fact. SECTION 23: WHEN CONTRACT IS DEEMED TO BE CONCLUDED A contract of marine insurance is deemed to be concluded when the proposal of the assured is accepted by the.....

General Insurance Business (Nationalisation) Act,1972 Schedule 1

Title: The Schedule

State: Central

Year: 1972

THE SCHEDULE (See Section 11) Amount to be paid PART A Serial Number Name of Indian insurance Company Amount to be paid (1) (2) (3) Rs. 1 All India General Insurance Company Ltd. 10,00,000 2 Anand Insurance Company Ltd. Preference shares 3,50,000 Equity shares 2,00,000 3 Bhabha Marine Insurance Company Ltd. 54,448 4 Bharat General Reinsurance Ltd. Preference shares 8,18,000 Ordinary shares 13,49,844 5 British India General Insurance Company Ltd. 37,50,000 6 Calcutta Insurance Company Ltd. 7,49,442 7 Central Mercantile Assurance Company Ltd. 3,38,499 8 Clive Insurance Company Ltd. 26,12,600 9 Commonwealth Assurance Company Ltd. 1,000 10 Concord of India Insurance Company Ltd. 39,77,100 11 Devkaran Nanjee Insurance Company.....

Marine Insurance Act, 1963 Section 84

Title: Return for Failure of Consideration

State: Central

Year: 1963

.....is returnable: provided that where the subject-matter has been insured "lost or not lost", and has arrived in safety at the time when the contract is concluded, the premium is not returnable unless, at such time, the insurer knew of the safe arrival; (c) where the assured has no insurable interest throughout, the currency of the risk the premium is returnable, provided that the rule does not apply to a policy effected by way of wagering; (d) where the assured has a defeasible interest which is terminated during the currency of the risk, the premium is not returnable; (e) where the assured has over-insured under an unvalued policy, a proportionate part of the premium is returnable; (f) subject to the foregoing provisions, where the assured has over-insured by double insurance, a proportionate part of the several premiums is returnable: Provided that, if the policies are effected at different times, and any earlier policy has at any time borne the entire risk, or if a claim has been paid on the policy in respect of the full sum insured thereby, no premium is returnable in respect of that policy, and when the double insurance is effected knowingly by the assured no.....

Insurance Act, 1938 (4 of 1938) Schedule V

Title: The Fifth Schedule

State: Central

Year: 1938

.....are to be shown to the nearest rupee. 3. Extra premium shown in the Forms of Summary and Valuation prepared under the Fourth Schedule to this Act must not be included in statements prepared under this Schedule. 4. Every statement prepared under this Schedule shall be signed by the actuary making the investigation in connection with which it is prepared. 5. For the purposes of this Schedule the following expressions have the meanings hereby respectively assigned to them, namely:-- (a) "annual loading" means the provision made for future expenses and profits; (b) "extra premiums" means a charge for any risk not provided for in the minimum contract premium; (c) "net premiums" means the premiums taken credit for in the valuation in connection with which any statement is prepared; and (d) "valuation date" means as respects any valuation the date as at which the valuation is made. PART II REQUIREMENTS FOR STATEMENTS APPLICABLE TO LIFE INSURANCE The statements required to be prepared under this Part of this Schedule are as follows, namely:-- 1. Statements separately prepared in respect of policies with and without participation in profits, showing:-- (a) as.....

Government of India Act, 1915-19 [Repealed] Part III

Title: Property, Contracts and Liabilities

State: Central

Year: 1915

..... 2. This word was substituted for the word 'three" by Schedule I of the Government of India (Amendment) Act, 1916 (6&7 Geo. 5, Chapter 37). Section 29 - Contracts of Secretary of State (1) 1 [Subject to the provisions of this Act regarding the appointment of a High Commissioner for India,] the Secretary of State in Council may, with the concurrence of a majority of votes at a meeting of Council of India, make any contract for the purposes of this Act. (2) Any contract so made may be expressed to be made by the Secretary of State in Council. (3) Any contract so made which, if it were made between private persons, would be by law required to be under seal, may be made, varied or discharged under the hands and seals of two members of the Council of India. (4) Any contract so made which, if it were made between private persons, would be by law required to be signed by the party to be charged therewith may be made, varied or discharged under the hands of two members of the Council of India. (5) Provided that any contract for or relating to the manufacture, sale, purchase or supply of goods, or for or relating to affreightment or the carriage of goods, or to.....