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Start Free TrialInsurance Act, 1938 (4 of 1938) Part II
Title: Provisions Applicable to Insurers
State: Central
Year: 1938
.....section 2 and Schedule, for "theStates" (w.e.f. 1-11-1956). Section 2E - This Act not to apply to certain insurers, ceasing to enter into new contracts before commencement of Act The provisions of this Act shall not apply to an insurer as defined in paragraph (i) or (iii) of sub-clause (a) of clause (9) of section 2 in relation to any class of his insurance business where such insurer has ceased, before the commencement of this Act, to enter into any new contracts of that class of business.] Section 3 - Registration (1) No 1 [person] shall, after the commencement of this Act, begin to carry on any class of insurance business in 2 [India] and no insurer carrying on any class of insurance business in 2 [India] shall, after the expiry of three months from the commencement of this Act, continue to carry on any such business, unless he has obtained from the 3 [Authority] a certificate of registration 4 [for the particular class of insurance business]: 5 [Provided that in case an insurer who was carrying on any class of insurance business in 2 [India] at the commencement of this Act, failure to obtain a certificate of registration in accordance with the requirements of this.....
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 85
Title: Investment Funds
State: Central
Year: 1938
.....of a policy on which the society bears the risk and the policy was issued to the director on his own life and the loan is within the surrender value of the policy.] _________________________ 1. Sub-section (1) omitted by Act 47 of 1950, section 52 (w.e.f. 1-6-1950). 2. Inserted by Act 6 of 1946, section 35 (w.e.f. 20-3-1946). 3. Added by Act 11 of 1939, section 28. 4. Substituted by act 20 of 1940, section 13, for "any director or officer of the society" (w.e.f. 10-4-1940). 5. Substituted by act 20 of 1940, section 13, for "a director or officer of the society is a director or partner" (w.e.f. 10-4-1940). 6. Inserted by Act 20 of 1940, section 13 (w.e.f. 10-4-1940). 7. Substituted by Act 20 of 1940, section 13, for "or officer" (w.e.f. 10-4-1940). 8. Substituted by Act 47 of 1950, section 4, for "Superintendent of Insurance" (w.e.f. 1-6-1950) and again substituted by Act 41 of 1999, section 30 and Schedule I, for "Controller" (w.e.f. 19-4-2000). 9. Added by Act 11 of 1939, section 28 (w.e.f. 8-4-1941).
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 110
Title: Appeals
State: Central
Year: 1938
.....authority authorised to hear appeals from the decisions of the court making the same and the decision on such appeal shall be final. 4[( 4 ) No appeal under this section shall be entertained unless it is made before the expiration of four months from the Sate on which the order appealed against was communicated to the appellant.] ________________________ 1. The words "refusing to register, or" omitted by Act 32 of 1965, section 3 (w.e.f. 28-9-1965). 2. Substituted by Act 6 of 1946, section 46, for clause (e) (w.e.f. 20-3-1946). 3. The words "an insurer or" omitted by the Companies (Second Amendment) Act, 2002, section 133 and Schedule. 4. Inserted by Act 13 of 1941, section 60 (w.e.f. 8-4-1941).
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 106A
Title: Notice to and Hearing of Authority
State: Central
Year: 1938
.....section applies are the following, namely:-- (a) an order for the attachment in execution of a decree of any deposit made under section 7 or section 98; (b) an order under section 9 or section 59 for the return of any such deposit; (c) an order under section 36 sanctioning any arrangement for the transfer or amalgamation of life insurance business or any order consequential thereon; (d) an order for the winding up of an insurance company or a provident society; (e) an order under section 58 confirming a scheme for the partial winding up of an insurance company; (f) an order under section 89 reducing the amount of the insurance contracts of a provident society.] ________________________ 1. Inserted by Act 20 of 1940, section 14 (w.e.f. 10-4-1940). 2. Substituted by Act 47 of 1950, section 4, for "Superintendent of Insurance" (w.e.f. 1-6-1950) and again substituted by Act 41 of 1999, section 30 and Schedule I, for "Controller" (w.e.f. 19-4-2000). 3. Substituted by Act 41 of 1999, section 30 and Schedule I, for "himself" (w.e.f. 19-4-2000). 4. Substituted by Act 41 of 1999, section 30 and Schedule I, for "him" (w.e.f. 19-4-2000).
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Part V
Title: Miscellaneous
State: Central
Year: 1938
.....the purposes of that sub-section, be deemed to be liable for that act in the same manner and to the same extent as the person who has committed the act, unless he proves that the act was committed without hi s consent or connivance and was not facilitated by any neglect or omission on hi s part. ( 4 ) Where at any stage of the proceedings against any person under this section (he reinafter referred to as the delinquent), the Court is satisfied by affidavit or otherwise-- (a) that a prima facie case has been made out against the delinquent; and (b) that it is just and proper so to do in the interests of the policy-holders of an insurer or of the me mbers of an insurance company, the court may direct the attachment of-- (i) any property of the insurer in the possession of the delinquent; (ii) any property of the delinquent which belongs to hi m or is deemed to belong to hi m within the me aning of sub-section ( 5 ); (iii) any property transferred by the delinquent within two years before the commencement of proceedings under sub-section ( 1 ) or during the pendency of such proceedings, if the Court is satisfied by affidavit or otherwise that the transfer was.....
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 101
Title: Supply of Documents to Members
State: Central
Year: 1938
Every Mutual Insurance Company and every Co-operative Life Insurance Society shall, on the application of any member made within two years from the date on which any such document is furnished to the Registrar of Companies under the provisions of section 134 of the Indian Companies Act, 1913 (7 of 1913), or to the Registrar of Co-operative Societies of the State in which the Co-operative Life Insurance Society is registered, furnish a copy of the document free of cost to the member within fourteen days of the application.
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 95
Title: Definitions
State: Central
Year: 1938
.....by the Central Government, empower the Registrar of Co-operative Societies of the State to register co-operative societies for the insurance of cattle or crops or both under the provisions of the Co-operative Societies Act in force in the State. ( 4 ) A State Government may make rules not inconsistent with any rules made by the Central Government to govern such societies, and the provisions of this Act, in so far as they are inconsistent with those rules, shall not apply to such societies. ___________________ 1. Substituted by Act 41 of 1999, section 30 and Schedule I, for "In this Part--". 2. Substituted by Act 11 of 1939, section 29, for "incorporated under the provisions of the Indian Companies Act, 1913". 3. Substituted by the Adaptation of Laws Order, 1950, for "Provincial".
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Part IV
Title: Mutual Insurance Companies and Co-operative Life Insurance Societies
State: Central
Year: 1938
.....of this Act, in so far as they are inconsistent with those rules, shall not apply to such societies. ___________________ 1. Substituted by Act 41 of 1999, section 30 and Schedule I, for "In this Part--". 2. Substituted by Act 11 of 1939, section 29, for "incorporated under the provisions of the Indian Companies Act, 1913". 3. Substituted by the Adaptation of Laws Order, 1950, for "Provincial". Section 96 - Application of Act to Mutual Insurance Companies and Co-operative Life Insurance Societies The provisions of sections 6 and 7 and of sub-section ( 2 ) of section 20 , so far as those provisions are inconsistent with the provisions of this Part, shall not apply, and the provisions of this Part shall apply, to1[ *** ] Co-operative Life Insurance Societies. _________________ 1. The words "Mutual Insurance Companies and" omitted by Act 62 of 1968, section 30 (w.e.f. 1-6-1969). Section 97 - Working capital of Mutual Insurance Companies and Co-operative Life Insurance Societies 1[No co-operative life insurance society registered after the 26 th day of January 1937 ] under the Co-operative Societies Act, 1912 ( 2 of 1912 ), or under an Act of a State.....
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 93
Title: Dissolution of Provident Society
State: Central
Year: 1938
.....of the account 1 [Authority] shall declare the society dissolved and cause the dissolution of the society to be notified in the local Official Gazette, and the liquidator shall thereupon be discharged from further responsibility. (6) If within a period of five years from the date on which any sums have been made over to the 1 [Authority] under sub-section (5) an order of a Court of competent jurisdiction has not been obtained at the insurance of any claimant to such sums for their disposal, the said sums shall become the property of Government. _________________________ 1. Substituted by Act 47 of 1950, section 4, for "Superintendent of Insurance" (w.e.f. 1-6-1950) and again substituted by Act 41 of 1999, section 30 and Schedule I, for "Controller" (w.e.f. 19-4-2000). 2. Substituted by Act 41 of 1999, section 30 and Schedule I, for "him" (w.e.f. 19-4-2000). 3. Substituted by Act 41 of 1999, section 30 and Schedule I, for "he" (w.e.f. 19-4-2000).
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 92
Title: Procedure at Liquidation
State: Central
Year: 1938
.....(7 of 1913). 8 [(13) The costs of the liquidation including the remuneration of the liquidator and any expenses incurred under clause (g) of sub-section (1) of section 91 or shall, if the liquidator decides that they shall be payable out of the assets of the society, be payable in priority to all other claims.] _________________________ 1. Substituted by Act 47 of 1950, section 54, for "the Superintendent of Insurance shall appoint a suitable person" (w.e.f. 1-6-1950). 2. Substituted by Act 41 of 1999, section 30 and Schedule I, for "Controller" (w.e.f. 19-4-2000). 3. Substituted by Act 41 of 1999, section 30 and Schedule I, for " he" (w.e.f. 19-4-2000). 4. Substituted by Act 6 of 1946, section 41, for "if so desired" (w.e.f. 20-3-1946). 5. Substituted by Act 47 of 1950, section 54, for "and if so desired, shall also appoint a committee of inspection" (w.e.f. 1-6-1950). 6. Substituted by Act 47 of 1950, section 4, for "Superintendent of Insurance" (w.e.f. 1-6-1950) and again substituted by Act 41 of 1999, section 30 and Schedule I, for "Controller" (w.e.f. 19-4-2000). 7. Inserted by Act 47 of 1950, section 54 (w.e.f. 1-6-1950). 8. Added by Act 13 of.....
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