Bare Act Search Results

Insurance Regulatory and Development Authority (Assets, Liabilities, and Solvency Margin of Insurers) Regulations, 2000 Complete Act

State: Central

Year: 2000

.....(a) "valuation date", in relation to an actuarial investigation, means the date to which the investigation relates. (b) "universal life contracts" means those contracts that are presented in an unbundled form. The contracts where policy-holders have an option to invest in units of Insurer's segregated fund(s) shall be treated as "linked business", and others shall be treated as "non-linked business". (c) "segregated funds" means funds earmarked in respect of linked business. 2. Method of Determination of Mathematical Reserves.-(1) Mathematical Reserves shall be determined separately for each contract by a prospective method of valuation in accordance with sub-paras (2) to (4). (2) The valuation method shall take into account all prospective contingencies under which any premiums (by the policy-holder) or benefits (to the policy-holder/beneflciary) may be payable under the policy, as determined by the policy conditions. The level of benefits shall take into account the reasonable expectations of policy-holders (with regard to bonuses, including terminal bonuses, if any) and any established practices of an insurer for payment of benefits. (3) The valuation method shall take.....

Insurance Regulatory and Development Authority Act, 1999 Schedule 1

Title: First Schedule

State: Central

Year: 1999

.....the expressions "group" and "same management" shall have the same meanings respectively assigned to them in the Monopolies and Restrictive Trade Practices Act, 1969 (54 of 1969)."; (b) in sub-section (11),-- (i) for "Explanation 1", substitute "Explanation"; (ii) omit Explanation 2. 11. After section 6A, insert the following:-- "6AA. Manner of divesting excess shareholding by promoter in certain cases. (1) No promoter shall at any time hold more than twenty-six per cent. or such other percentage as may be prescribed, of the paid-up equity capital in an Indian insurance company: Provided that in a case where an Indian insurance company begins the business of life insurance, general insurance or re-insurance in which the promoters hold more than twenty-six per cent. of the paid-up equity capital or such other excess percentage as may be prescribed, the promoters shall divest in a phased manner the share capital in excess of the twenty-six per cent, of the paid-up equity capital or such excess paid-up equity capital as may be prescribed, after a period of ten years from the date of the commencement of the said business by such Indian insurance company or within such.....

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

Title: Sufficiency of Assets

State: Central

Year: 1938

.....thousand rupees in respect of a country craft insurer or in respect of an insurer not having a share capital and carrying on only such insurance business as, in the opinion of the Central Government, is not carried on ordinarily by insurers under separate policies. 2 [(7) Every insurer shall furnish to the Authority his returns under section 15 or section 16, as the case may be, in case of life insurance business a statement certified by an actuary approved by the Authority, and in case of general insurance business a statement certified by an auditor approved by the Authority, of the required solvency margin maintained by the insurer in the manner required by sub-section (1A).] ______________________ 1. Substituted by Act 41 of 1999, section 30 and Schedule I, for "at all times" (w.e.f. 19-4-2000). 2. Inserted by Act 41 of 1999, section 30 and Schedule I (w.e.f. 19-4-2000). 3. Substituted by Act 41 of 1999, section 30 and Schedule I, for "Controller" (w.e.f. 19-4-2000).

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.....

Central Excise Tariff Act, 1985 Chapter 90

Title: Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus; Parts and Accessories Thereof

State: Central

Year: 1985

.....solely from their elasticity (for example, maternity belts, thoracic support bandages, abdominal support bandages, supports for joints or muscles) (Section XI); (c) refractory goods of heading 6903; ceramic wares for laboratory, chemical or other technical uses, of heading 6909; (d) glass mirrors, not optically worked, of heading 7009, or mirrors of base metal or of precious metal, not being optical elements (heading 8306 or Chapter 71); (e) goods of heading 7007, 7008, 7011, 7014, 7015 or 7017; (f) parts of general use, as defined in Note 2 to Section XV, of base metal (Sec­tion XV) or similar goods of plastics (Chapter 39); (g) pumps incorporating measuring devices, of heading 8413; weight-oper-ated counting or checking machinery, or separately presented weights for bal­ances (heading 8423); lifting or handling machinery (headings 8425 to 8428); paper or paperboard cutting machines of all kinds (heading 8441); fittings for adjusting work or tools on machine-tools, of heading 8466, including fittings with optical devices for reading the scale (for example, "optical" dividing heads) but not those which are in themselves essentially optical instruments (for.....

Central Excise Tariff (Amendment) Act, 2004 Chapter LXXXX

Title: Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus; Parts and Accessories Thereof

State: Central

Year: 2004

.....or for automatically controlling temperature, whether or not their operation depends on an electrical phenomenon which varies according to the factor to be automatically controlled, which are designed to bring this factor to, and maintain it at, a desired value, stabilized against disturbances, by constantly or periodically measuring its actual value; and (b) automatic regulators of electrical quantities, and instruments or apparatus for automatically controlling non-electrical quantities the operation of which depends on an electrical phenomenon varying according to the factor to be controlled, which are designed to bring this factor to, and maintain it at, a desired value, stabilized against disturbances, by constantly or periodically measuring its actual value. Tariff Item Description of goods Unit Rate of duty (1) (c) (4) 9001 OPTICAL FIBRES AND OPTICAL FIBRE BUNDLES; OPTICAL FIBRE CABLES OTHER THAN THOSE OF HEADING 8544; SHEETS AND PLATES OF POLARISING MATERIAL; LENSES (INCLUDING CONTACT LENSES), PRISMS, MIRRORS AND OTHER OPTICAL ELEMENTS, OF ANY MATERIAL, UNMOUNTED, OTHER THAN SUCH ELEMENTS OF .....

Customs Tariff Act 1975 Chapter 90

Title: Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus; Parts and Accessories Thereof

State: Central

Year: 1975

.....solely from their elasticity (for example, maternity belts, thoracic support bandages, abdominal support bandages, supports for joints or muscles) ( Section XI); (c) Refractory goods of heading 6903; ceramic wares for laboratory, chemical or other technical uses, of heading 6909; (d) Glass mirrors, not optically worked, of heading 7009, or mirrors of base metal or of precious metal, not being optical elements (heading 8306 or Chapter 71); (e) Goods of heading 7007, 7008, 7011, 7014, 7015 or 7017; (f) Parts of general use, as defined in Note 2 to Section XV, of base metal (Section XV) or similar goods of plastics (Chapter 39); (g) Pumps incorporating measuring devices, of heading 8413; weight-operated counting and checking machinery, or separately presented weights for balances (heading 8423); lifting or handling machinery (headings 8425 to 8428); paper or paperboard cutting machines of all kinds (heading 8441); fittings for adjusting work or tools on machine-tools, of heading 8466, including fittings with optical devices for reading the scale (for example, "optical" dividing heads) but not those which are in themselves essentially optical instruments (for example,.....

Customs Tariff (Amendment) Act, 2003 Chapter LXXXX

Title: Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus; Parts and Accessories Thereof

State: Central

Year: 2003

.....or for automatically controlling temperature, whether or not their operation depends on an electrical phenomenon which varies according to the factor to be automatically controlled, which are designed to bring this factor to, and maintain it at, a desired value, stabilised against disturbances, by constantly or periodically measuring its actual value; and (b) automatic regulators of electrical quantities, and instruments or apparatus for automatically controlling non-electrical quantities the operation of which depends on an electrical phenomenon varying according to the factor to be controlled, which are designed to bring this factor to, and maintain it at, a desired value, stabilised against disturbances, by constantly or periodically measuring its actual value. Tariff Item Description of goods Unit Rate of duty Standard Preferential Areas (1) (2) (3) (4) (5) 9001 OPTICAL FIBRES AND OPTICAL FIBRE BUNDLES; OPTICAL FIBRE CABLES OTHER THAN THOSE OF HEADING 8544; SHEETS AND PLATES OF POLARISING MATERIAL; LENSES (INCLUDING CONTACT LENSES), PRISMS, MIRRORS AND OTHER.....

Insurance Regulatory and Development Authority (Actuarial Report and Abstract) Regulations, 2000 Complete Act

State: Central

Year: 2000

.....the valuation date of that valuation from the valuation date of the preceding valuation in connection with which an abstract was prepared under the Act under the enactments repealed by the Act, or, in a case where no such valuation has been made in respect of the class of business in question, from the date on which the insurer began to carry on that class of business; (h) "maturity date" means a fixed date on which benefit may become payable either absolutely or contingently; (i) "non-par policies" or "policies without participation in profits" means policies which are not entitled for any share in surplus (profits) during the term of the policy; (j) "office yearly premium" means regular premium (excluding extra premiums which are required to be shown separately) payable by the policy-holder to secure the basic benefits under the policy in a policy year; (k) "options" means the rights available to a policy-holder under a policy; (l) "par policies" or "policies with participation in profits" means polices which are not non-par policies as defined under Cl. (i); (m) "policies with deferred participation in profits" means policies entitled for participation in profits after.....

Industries (Development and Regulation) Act, 1951 Schedule I

Title: The First Schedule

State: Central

Year: 1951

1[THE FIRST SCHEDULE [See Sections 2 and 3(i)] Any industry engaged in the manufacture or production of any of the articles mentioned under each of the following headings or sub-headings, namely : 1. METALLURGICAL INDUSTRIES : A. Ferrous : (1) Iron and steel (metal). (2) Ferro-alloys. (3) Iron and steel castings and forgings. (4) Iron and steel structurals. (5) Iron and steel pipes. (6) Special steels (7) Other products of iron and steel. B. Non-ferrous : 2[(1) Precious metals, including gold and silver and their alloys. (1-A) Other non-ferrous metals and their alloys.] (2) Semi-manufactures and manufactures. 2. FUELS : (1) Coal, lignite, coke and their derivatives. (2) Mineral oil (crude oil), motor and aviation spirit, diesel oil, kerosene oil, fuel oil, diverse hydrocarbon oils and their blends including synthetic fuels, lubricating oils and the like. (3) Fuel gases--(coal gas, natural gas and the like.) 3. BOILERS AND STEAM GENERATING PLANTS : Boilers and steam generating plants. 4. PRIME MOVERS (OTHER THAN ELECTRICAL GENERATORS ) : (1) Steam engines and turbines. (2) Internal combustion engines. 5. ELECTRICAL EQUIPMENT : .....