Bare Act Search Results

Marine Insurance Act, 1963 Section 9

Title: Defeasible or Contingent Interest

State: Central

Year: 1963

(1) A defeasible interest is insurable, as also is a contingent interest. (2) In particular, where the buyer of goods has insured them, he has an insurable interest, notwithstanding that he might, at his election, have rejected the goods, or have treated them as at the seller's risk, by reason of the latter's delay in making delivery or otherwise.

Marine Insurance Act, 1963 Complete Act

State: Central

Year: 1963

.....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. SECTION 21: DISCLOSURE BY AGENT EFFECTING INSURANCE Subject to the provisions of the preceding section as to circumstances which need not be disclosed, where an insurance is effected for the assured by an agent, the agent must disclose to the insurer- (a) every material circumstance which is known to himself, and an agent to insure is deemed to know every circumstance which in the ordinary course of business ought to be known by, or to have been communicated to, him; and (b) every material circumstance which the assured is bound to disclose, unless it comes to his knowledge too late to communicate it to the agent. SECTION 22: REPRESENTATIONS PENDING 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.....

Insurance Act, 1938 (4 of 1938) Part I

Title: Preliminary

State: Central

Year: 1938

.....Government or the Government of any 5 [* * *] State; (ii) debentures or other securities for money issued under the authority of any Central Act or Act of a State Legislature by or on behalf of a port trust or municipal corporation or city improvement trust in any presidency-town; (iii) shares of a corporation established by law and guaranteed fully by the Central Government or the Government of a 5 [* * *] State as to the repayment of the principal and the payment of dividend; (iv) securities issued or guaranteed fully as regards principal and interest by the Government of any Part B State and specified as approved securities for the purposes of this Act by the Central Government by notification in the Official Gazette; and 6 [***] 7 [Explanation.--In sub-clauses (i) and (iii) "Government of a State" in relation to any period before the 1st November, 1956, means the Government of a Part A State;] 8 [(4) "auditor" means a person qualified under the Chartered Accountants Act, 1949 (38 of 1949) to act as an auditor of companies;] 9 [(4A) "banking company" and "company" shall have the meanings respectively assigned to them in clauses (c) and (d) of sub-section.....

Insurance Act, 1938 (4 of 1938) Section 2

Title: Definitions

State: Central

Year: 1938

.....Government or the Government of any 5 [* * *] State; (ii) debentures or other securities for money issued under the authority of any Central Act or Act of a State Legislature by or on behalf of a port trust or municipal corporation or city improvement trust in any presidency-town; (iii) shares of a corporation established by law and guaranteed fully by the Central Government or the Government of a 5 [* * *] State as to the repayment of the principal and the payment of dividend; (iv) securities issued or guaranteed fully as regards principal and interest by the Government of any Part B State and specified as approved securities for the purposes of this Act by the Central Government by notification in the Official Gazette; and 6 [***] 7 [Explanation.--In sub-clauses (i) and (iii) "Government of a State" in relation to any period before the 1st November, 1956, means the Government of a Part A State;] 8 [(4) "auditor" means a person qualified under the Chartered Accountants Act, 1949 (38 of 1949) to act as an auditor of companies;] 9 [(4A) "banking company" and "company" shall have the meanings respectively assigned to them in clauses (c) and (d) of sub-section.....

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.....

Marine Insurance Act, 1963 Complete Act

Title: Marine Insurance Act, 1963

State: Central

Year: 1963

.....Section75 - General provisions as to measure of indemnity Section76 - Particular average warranties Section77 - Successive losses Section78 - Suing and labouring clause Section79 - Right of subrogation Section80 - Right of contribution Section81 - Effect of under insurance Section82 - Enforcement of return Section83 - Return by agreement Section84 - Return for failure of consideration Section85 - Ratification by assured Section86 - Implied obligation varied by agreement or usage Section87 - Reasonable time, etc., a question of fact Section88 - Covering note as evidence Section89 - Power to apply Act with modifications etc., in certain cases Section90 - Certain provisions to override Transfer of Property Act, 1882 Section91 - Savings Section92 - Repeals ScheduleI - SCHEDULE