Bare Act Search Results

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (PREPARATION OF FINANCIAL STATEMENTS AND AUDITOR'S REPORT OF INSURANCE COMPANIES)REGULATIONS, 2000 Complete Act

State: Central

Year: 2000

.....of their publication in the Official Gazette. Regulation 2 Definitions .-(1) In these regulations, unless the context otherwise requires- (a) "Act" means the Insurance Act, 1938 (4 of 1938); (b) "Authority" means the Insurance Regulatory and Development Authority established under sub-section (1) of S.3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999); (c) All words and expressions used herein and not defined but defined in the Insurance Act, 1938 (4 of 1938), or in the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), or in the Companies Act, 1956 (1 of 1956) shall have the meanings respectively assigned to them in those Acts. Regulation 3 Preparation of financial statements, management report and auditor's report (1) An insurer carrying on life insurance business, after the commencement of these Regulations, shall comply with the requirements of Schedule A. (2) An insurer carrying on general insurance business, after the commencement of these regulations, shall comply with the requirements of Schedule B : Provided that this sub-regulation shall apply, mutatis mutandis, to re-insurers, until separate regulations are.....

Insurance Rules, 1939 Complete Act

State: Central

Year: 1939

.....ries of Pondicherry and Lakshadweep; and (vii) words used but not defined in these rules have the meanings respectively assigned to them in the Act. CHAPTER 2 Actuaries Rule 3 Qualifications of actuaries Any person signing as actuary under the Act shall be a Fellow of the Institute of Actuaries, London, or a Fellow of the Faculty of Actuaries in Scotland 33. Ins. by S.O. 961 (E), dated 24th March. 1992. [or a Fellow of Actuarial Society of India]: Provided that where application is made to the Controller of Insurance and it Is shown to his satisfaction that the employment of an Associate of such institute of actuaries or of such Faculty of Actuaries 33. Ins. by S.O. 961 (E), dated 24th March. 1992. [or of such Actuarial Society] or of any other person having actuarial knowledge for any specified purpose is expedient in order to enable an Insurer or a provident society to carry out any of his or its obligations under the Act, the Controller of Insurance may grant the application and permit such person to sign as actuary for the specified purpose, subject to such conditions and restric- tions as the Controller of Insurance thinks fit to impose. Rule 4 . . [* * * * * * * .....

Insurance Regulatory and Development Authority (Life Insurancereinsurance) Regulations, 2000 Complete Act

State: Central

Year: 2000

.....AND DEVELOPMENT AUTHORITY (LIFE INSURANCE-REINSURANCE) REGULATIONS, 2000 In exercise of the powers conferred by section 114A of the Insurance Act, 1938, read with sections 14 and 26 of the Insurance Regulatory and Development Authority Act, 1992, the Authority, in consulation with the insurance Advisory Committee hereby makes the following regulations, namely: Regulation 1 Short, title and commenceement (1) These regulations may he called the Insurance Regulatory and Development Authority (Life Insurance-Reinsurance) Regulations, 2000. (2) They shall come into force on the date of their notification in the Official Gazette Regulation 2 Definitions In these regulations, unless the context otherwise requires (a) "Act" means the Insurance Act, 1938 (4 of 1938); (b) "Authority means the Insurance Regulatory and Devevelopment Authority Authority Act, 1999 (41 of 1999) (c) "retention" means the amount of risk which an insurer assumes tor his own account. (d) words and expressions used and not defined in these regulations but defined in the Insurance Act, 1938 (4 of 1938) or Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), shall have the meanings.....

Indian Partnership Act, 1932 Complete Act

Title: Indian Parternership Act, 1932

State: Central

Year: 1932

.....in an emergency Section22 - Mode of doing act to bind firm Section23 - Effect of admissions by a partner Section24 - Effect of notice to acting partner Section25 - Liability of a partner for acts of the firm Section26 - Liability of the firm for wrongful acts of a partner Section27 - Liability of firm for misapplication by partners Section28 - Holding out Section29 - Rights of transferee or a partners interest Section30 - Minors admitted to the benefits of partnership Chapter V Section31 - Introduction of a partner Section32 - Retirement of a partner Section33 - Expulsion of a partner Section34 - Insolvency of a partner Section35 - Liability of estate of deceased partner Section36 - Rights of outgoing partner to carry on competing business Section37 - Right of outgoing partner in certain cases to share subsequent profits Section38 - Revocation of continuing guarantee by change in firm Chapter VI Section39 - Dissolution of a firm Section40 - Dissolution by agreement Section41 - Compulsory dissolution Section42 - Dissolution on the happening of certain contingencies Section43 - Dissolution by notice of partnership at will Section44 - Dissolution by.....

Insurance Regulatiory and Development Authority (Manner of Receipt of Premium) Regulations, 2002 Complete Act

State: Central

Year: 2002

.....Authorioty Act, 1999 (41 of 1999), or in any rules or regulations made thereunder shall have the meanings respectively assigned to them in those Acts or rules or regulations as the case may be. Regulation 3 Manner of premium payments The premium to be paid by any person proposing to take an insurance policy (hereinaafter referred to as the proposer) or by the policyholder to an insurer may be made in any one or more of the following manner(s), namely: (a) Cash; (b) Any recognized banking negotiable instrument such as cheques, including demand drafts, pay orders, banker's cheques drawn on any scheduled bank in India; (c) Postal money orders; (d) Credit or Debit Cards held in his name; (e) Bank Guarantee or Cash Deposit; (f) internet; (g) E-transfer; (h) Direct credits via standing instructions of proposer or the policyholder or the life insured through bank transfers; and (i) any other method of payment as may be approved by the Authority from time to time. Regulation 4 Commencement of Risk In all cases of risks covered by the policies insured by an insurer, the attachment of risk to an insurer will be in consonance with the terms of Sec. 64-VB of the Act and.....

Companies Act, 1956 Section 78

Title: Application of Premiums Received on Issue of Shares

State: Central

Year: 1956

.....payable on the redemption of any redeemable preference shares or of any debentures of the company. (3) Where a company has, before the commencement of this Act, issued any shares at a premium, this section shall apply as if the shares had been issued after the commencement of this Act: Provided that any part of the premiums which has been so applied that it does not at the commencement of this Act form an identifiable part of the company's reserves within the meaning of Schedule VI shall be disregarded in determining the sum to be included in the1[securities] premium account. _____________________ 1. Substituted by Act 21 of 1999, Section 5, for "share" (w.r.e.f. 31-10-1998).

Insurance Act, 1938 (4 of 1938) Section 64VB

Title: No Risk to Be Assumed Unless Premium is Received in Advance

State: Central

Year: 1938

.....of the agent. (4) Where an insurance agent collects a premium on a policy of insurance on behalf of an insurer, he shall deposit with, or despatch by post to, the insurer, the premium so collected in full without deduction of his commission within twenty-four hours of the collection excluding bank and postal holidays. (5) The Central Government may, by rules, relax the requirements of sub-section (1) in respect of particular categories in insurance policies. 1 [(6) The Authority may, from time to time, specify, by the regulations made by it, the manner of receipt of premium by the insurer.] ______________________ 1. Inserted by Act 42 of 2002, section 13 (w.e.f. 23-9-2002).

Companies Act, 2013, Section 52

Title: Application of Premiums Received on Issue of Shares

State: Central

Year: 2013

.....the company; (c) in writing off the expenses of, or the commission paid or discount allowed on, any issue of shares or debentures of the company; (d) in providing for the premium payable on the redemption of any redeemable preference shares or of any debentures of the company; or (e) for the purchase of its own shares or other securities under section 68. (3) The securities premium account may, notwithstanding anything contained in sub-sections (1) and (2), be applied by such class of companies, as may be prescribed and whose financial statement comply with the accounting standards prescribed for such class of companies under section 133,-- (a) in paying up unissued equity shares of the company to be issued to members of the company as fully paid bonus shares; or (b) in writing off the expenses of or the commission paid or discount allowed on any issue of equity shares of the company; or (c) for the purchase of its own shares or other securities under section 68.

Deposit Insurance and Credit Guarantee Corporation Act, 1961 Section 15

Title: Premium

State: Central

Year: 1961

.....shall not affect the liability of that bank for payment of premium for the period before such cancellation and of any interest due under the provisions of this section. (2) The premium shall be payable for such periods, at such times and in such manner as may be prescribed. (3) If an insured bank makes any default in payment of any amount of premium, it shall for the period of such default, be liable to pay to the Corporation interest on such amount at such rate1[not exceeding eight per cent. over and above the bank rate as may be prescribed]. _______________________ 1. Substituted for certain words by Act 21 of 1978, Section. 7 (w.e.f. 15-7-1978). 2. Inserted by Act 56 of 1968, Section. 9.

Marine Insurance Act, 1963 Section 33

Title: Premium to Be Arranged

State: Central

Year: 1963

(1) Where an insurance is effected at a premium to be arranged, and no arrangement is made, a reasonable premium is payable. (2) Where an insurance is effected on the terms that an additional premium is to be arranged in a given event, and that event happens but no arrangement is made, then a reasonable additional premium is payable.