Bare Act Search Results

Insurance Regulatory and Development Authority Act, 1999 Complete Act

State: Central

Year: 1999

.....thereto and further to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the General Insurance Business (Nationalisation) Act, 1972. Be it enacted by Parliament in the Fiftieth Year of the Republic of India as follows: STATEMENT OF OBJECTS AND REASONS 1. The insurance industry requires a high degree of regulation. The Insurance Act, 1938 provides for the institution of the Controller of Insurance to act as a strong and powerful supervisory and regulatory authority with powers to direct, advise, caution, prohibit, investigate, inspect, prosecute, search, seize, fine, amalgamate, authorise, register and liquidate insurance companies. However, after the nationalisation of the life insurance industry in 1956 and the general insurance industry in 1972, the role of the Controller of Insurance diminished in significance over a period of time. 2. In April, 1993, the Government set up a high-powered Committee headed by Shri R.N. Malhotra, former Governor, Reserve Bank of India, to examine the structure of the insurance industry and recommend changes to make it more efficient and competitive keeping in view the structural changes in other parts of the financial.....

Insurance Regulatory and Development Authority (Insurance Advertisements and Disclosure) Regulations, 2000 Complete Act

State: Central

Year: 2000

.....of 1972), or Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) shall have the meanings respectively assigned to them in those Acts or the rules as the case may be. Regulation 3 Compliance and control (1) Every insurer or intermediary or insurance agent shall- (i) have a compliance officer, whose name and official position in the organisation shall be communicated to the Authority, and he shall be responsible to oversee the advertising programme. (ii) establish and maintain a system of control over the content, form, and method of dissemination of all advertisements concerning its policies. (iii) maintain an advertising register at its corporate office which must include: (a) a specimen of every advertisement disseminated, or issued or a record of any broadcast or telecast, etc.; (b) a notation attached to each advertisement indicating the manner, extent of distribution and form number of any policy advertised, and (iv) maintain a specimen of all advertisements for a minimum period of three years. (v) file a copy of each advertisement with the Authority as soon as it is first issued, together with information: (a) an identifying number for the.....

Insurance Act, 1938 (4 of 1938) Complete Act

Title: Insurance Act, 1938 (4 of 1938)

State: Central

Year: 1938

.....liabilities remain unsatisfied Section2E - This Act not to apply to certain insurers, ceasing to enter into new contracts before commencement of Act Section3 - Registration Section3A - Renewal of registration Section3B - Certification of soundness of terms of life insurance business Section4 - Minimum limits for annuities and other benefits secured by policies of life insurance Section5 - Restriction on name of insurer Section6 - Requirement as to capital Section6A - Requirements as to capital structure and voting rights and maintenance of registers of beneficial owners of shares Section6AA - Manner of divesting excess shareholding by promoter in certain cases Section6B - Provision for securing compliance with requirements relating to capital structure Section6C - Conversion of company limited by shares into company limited by guarantee Section7 - Deposits Section8 - Reservation of deposits Section9 - Refund of Deposit Section10 - Separation of accounts and funds Section11 - Accounts and balance-sheet Section12 - Audit Section13 - Actuarial report and abstract Section14 - Register of policies and register of claims Section15 - Submission of returns .....

Deposit Insurance and Credit Guarantee Corporation Act, 1961 Complete Act

Title: Deposit Insurance and Credit Guarantee Corporation Act, 1961

State: Central

Year: 1961

.....- Protection Of Action Taken Under This Act Section43 - Companies Act, 1956 And Insurance Act, 1938 Not To Apply Section44 - Liquidation Of Corporation Section45 - Power Of Central Government To Give Directions Section46 - Dispute As To Amount Of Premium Section47 - Penalties Section48 - Offences By Companies Section49 - Cognizance And Trial Of Offences Section50 - Regulation Section51 - Amendment Of Certain Enactments Schedule1 - FIRST SCHEDULE Schedule2 - SECOND SCHEDULE Amending Act1 - DEPOSIT INSURANCE CORPORATION (AMENDMENT) ACT, 1968 Amending Act2 - DEPOSIT INSURANCE CORPORATION (AMENDMENT AND MISCELLANEOUS PROVISIONS) ACT, 1978 Amending Act3 - BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) AND FINANCIAL INSTITUTIONS LAWS (AMENDMENT) ACT, 2006

General Insurance Business (Nationalisation) Act,1972 Complete Act

Title: General Insurance Business (Nationalisation) Act,1972

State: Central

Year: 1972

.....of acquiring company to seek relief in respect of certain transactions Section29 - Duty to deliver possession of property and documents relating thereto Section30 - Penalty for withholding property etc. Section31 - Officers and employees of Corporation or of acquiring companies to be public servants Section32 - Indemnity Section33 - Dissolution of Corporation and acquiring companies Section34 - Reference to existing insurer in other laws Section35 - Application of Insurance Act Section35A - [Omitted] Section36 - Exemptions Section37 - Vacancies, etc., not to invalidate proceedings Section38 - Protection of action taken in good faith Section39 - Power to make rules Section40 - Omission of section 14 of Act 17 of 1971 [Replealed] Schedule1 - THE SCHEDULE Amending Act1 - GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002

Marine Insurance Act, 1963 Complete Act

Title: Marine Insurance Act, 1963

State: Central

Year: 1963

..... Section20 - Disclosure by assured Section21 - Disclosure by agent effecting insurance Section22 - Representations pending negotiation of contract Section23 - When contract is deemed to be concluded Section24 - Contract must be embodied in policy Section25 - What policy must specify Section26 - Signature of insurer Section27 - Voyage and time policies Section28 - Designation and subject-matter Section29 - Valued policy Section30 - Unvalued policy Section31 - Floating policy by ship or ships Section32 - Construction of terms in policy Section33 - Premium to be arranged Section34 - Double insurance Section35 - Nature of warranty Section36 - When breach of warranty excused Section37 - Express warranties Section38 - Warranty of neutrality Section39 - No implied warranty of nationality Section40 - Warranty of good safety Section41 - Warranty of seaworthiness of ship Section42 - No implied warranty that goods are seaworthy Section43 - Warranty of legality Section44 - Implied conditions as to commencement of risk Section45 - Alteration of port of departure Section46 - Sailing for different destination Section47 - Change of voyage Section48 - Deviation .....

EMPLOYEES' STATE INSURANCE ACT, 1948 Complete Act

Title: EMPLOYEES' STATE INSURANCE ACT, 1948

State: Central

Year: 1948

.....and Standing Committee Section22 - Duties of Medical Benefit Council Section23 - Duties of Director General and the Financial Commissioner Section24 - Acts of Corporation, etc., not invalid by reason of defect in constitution, etc. Section25 - Regional Boards, Local Committees, Regional and Local Medical Benefit Councils Chapter III Section26 - Employees' State Insurance Fund Section27 - Grant by the Central Government Section28 - Purposes for which the Fund may be expended Section28A - Administrative expenses Section29 - Holding of property, etc. Section30 - Vesting of the property in the Corporation Section31 - Expenditure by Central Government to be treated as a loan Section32 - Budget estimates Section33 - Accounts Section34 - Audit Section35 - Annual Report Section36 - Budget, audited accounts and the annual report to be placed before Parliament Section37 - Valuation of assets and liabilities Chapter IV Section38 - All employees to be insured Section39 - Contributions Section40 - Principal employer to pay contribution in the first instance Section41 - Recovery of contribution from immediate employer Section42 - General provisions as to payment of.....

Life Insurance Corporation Act, 1956 Complete Act

Title: Life Insurance Corporation Act, 1956

State: Central

Year: 1956

.....Government Section22 - Zonal Managers Section23 - Staff of the Corporation Chapter 6 Section24 - Funds of the Corporation Section25 - Audit Section26 - Actuarial valuations Section27 - Annual report of activities of Corporation Section28 - Surplus from life insurance business how to be utilized Section28A - Profits from any business (other than life insurance business) how to be utilized Section29 - Reports to be laid before Parliament Chapter 7 Section30 - Corporation to have exclusive privilege of carrying on life insurance business Section30A - Exclusive privilege of Corporation to cease Section31 - Exception in the case of insurance business in respect of persons residing outside India Section32 - Power of Corporation to have official seal in certain cases Section33 - Requirement of foreign laws to be complied with in certain cases Section34 - Revesting of certain shares vested in the Administrator General Section35 - Repatriation of assets and liabilities in the case of foreign insurers in certain cases Section36 - Contracts or chief agents and special agents to terminate Section37 - Policies to be guaranteed by Central Government Section38 -.....

Personal Injuries (Compensation Insurance) Act, 1963 Complete Act

Title: Personal Injuries (Compensation Insurance) Act, 1963

State: Central

Year: 1963

..... Section11 - Employment of agents by the Central Government Section12 - Prohibition of certain insurance business Section13 - Personal Injuries (Compensation Insurance) fund Chapter IV Section14 - Power of Central Government to obtain information Section15 - Recovery of premium unpaid Section16 - Payment of compensation where an employer has failed to insure Section17 - Limitation of prosecution Section18 - Composition of offences Section19 - Power of Magistrate to impose any sentence Section20 - Bar of legal proceedings Section21 - Power to exempt employers Section22 - Power to make rules Section23 - Power to remove difficulties Section24 - Scheme to be laid before both Houses of Parliament ScheduleI - SCHEDULE

War Injuries (Compensation Insurance) Act, 1943 Complete Act

Title: War Injuries (Compensation Insurance) Act, 1943

State: Central

Year: 1943

Preamble1 - WAR INJURIES (COMPENSATION INSURANCE) ACT, 1943 Section1 - Short title, extent and commencement Section2 - Definitions Section3 - Compensation payable under the Act by whom and how payable Section4 - Limitation on right to receive compensation otherwise than under this Act and Ordinance 7 of 1941 Section5 - Amount of compensation Section6 - Workmen to whom the Act applies Section7 - War Injuries Compensation Insurance Scheme Section8 - Employment of agents by the Central Government Section9 - Compulsory insurance Section10 - Prohibition of certain insurance business Section11 - War Injuries Compensation Insurance Fund Section12 - Principals and contractors Section13 - Power of Central Government to obtain information Section14 - Recovery of premium unpaid Section15 - Payment of compensation where employee has failed to insure Section16 - Limitation of prosecution Section17 - Composition of offences Section18 - Bar of legal proceedings Section19 - Power to exempt employers Section20 - Power to make rules Section21 - Applications of the Scheme to certain parts of India Schedule1 - FIRST SCHEDULE Schedule2 - SECOND SCHEDULE