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The Cochin Nayar Act, 1938 Complete Act

State: Kerala

Year: 1938

THE COCHIN NAYAR ACT, 1113 THE COCHIN NAYAR ACT, 1113 [Act No. 29 of 1113] [22nd July, 1938] PREAMBLE Whereas it is expedient to consolidate and amend the Cochin Nayar Act, XIII of 1095, it is hereby enacted as follows:- Section 1 - Short title and application This Act may be called the Cochin Nayar Act, XXIX of 1113. It shall apply to all Nayars domiciled in Cochin, and to such Nayars not so domiciled, and to such non-Nayars, whether or not so domiciled, as have or shall have, marital relation with Nayars domiciled in Cochin. It shall come into force at once. Section 2 - Repeal The Cochin Nayar Act, XIII of 1095, is hereby repealed. Section 3 - Definitions In this Act unless there is something repugnant in the subject or context:- 'Anandaravan' means any member of tarwad other than the Karanavan. 'Karanavan' means the senior major male member of a tarwad and, in the absence of such male member, the senior major female member thereof, unless there is a family usage by which the senior major female member is recognised as karanavan. 'Marumakkathayam' means a system of inheritance in which descent is traced in the female line. 'Minor' means.....

Insurance Act, 1938 (4 of 1938) Section 83

Title: Actuarial Examination of Schemes

State: Central

Year: 1938

.....for a modification of its existing contracts or failing such modification for the winding up of the society. _________________________ 1. Substituted by Act 13 of 1941, section 46, for "established" (w.e.f. 8-4-1941). 2. Substituted by Act 13 of 1941, section 46, for certain words (w.e.f. 8-4-1941). 3. Substituted by Act 13 of 1941, section 46, for "that the scheme is sound" (w.e.f. 8-4-1941). 4. 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). 5. Substituted by Act 41 of 1999, section 30 and Schedule I, for "he" (w.e.f. 19-4-2000). 6. Substituted by Act 13 of 1941, section 46, for "and shall send the report of the actuary" (w.e.f. 8-4-1941). 7. Substituted by Act 13 of 1941, section 46, for "it is actuarially sound" (w.e.f. 8-4-1941). 8. Substituted by Act 13 of 1941, section 46, for sub-section (5) (w.e.f. 8-4-1941). 9. Substituted by Act 13 of 1941, section 46, for "discontinued" (w.e.f. 8-4-1941). 10. Subatituted by Act 13 of 1941, section 46, for "discontinuance" (w.e.f. 8-4-1941).

Insurance Act, 1938 (4 of 1938) Section 99

Title: Transferees and Assignees of Policies Not to Become Members

State: Central

Year: 1938

No transferee or assignee of a policy issued by an insurer to whom this Part applies shall become a member of a Mutual Insurance Company or Co-operative Life Insurance Society merely by reason of any such transfer or assignment.

Insurance Act, 1938 (4 of 1938) Section 102

Title: Penalty for Default in Complying With, or Act in Contravention Of, This Act

State: Central

Year: 1938

1[ 102 . Penalty for default in complying with, or act in contravention of, this Act If any person, who is required under this Act, or rules or regulations made thereunder,-- (a) to furnish any document, statement, account, return or report to the Authority, fails to furnish the same; or (b) to comply with the directions, fails to comply with such directions; (c) to maintain solvency margin, fails to maintain such solvency margin; (d) to comply with the directions on the insurance treaties, fails to comply with such directions on the insurance treaties, he shall be liable to a penalty not exceeding five lakh rupees for each such failure and punishable with fine. ________________________ 1. Substituted by Act 41 of 1999, section 30 and Schedule I, for sections 102 to 105 (w.e.f. 19-4-2000).

Insurance Act, 1938 (4 of 1938) Section 101C

Title: Examination of Re-insurance Treaties

State: Central

Year: 1938

1 [101C. Examination of re-insurance treaties The 2 [Authority] may, at any time,-- (a) call upon an insurer to submit for 3 [its] examination at the principal place of business of the insurer in India all re-insurance treaties and other re-insurance contracts entered into by the insurer; (b) examine any officer of the insurer on oath in relation to any such document as is referred to in clause (a) above; or (c) by notice in writing, require any insurer to supply 4 [it] with copies of any of the documents referred to in clause (a), certified by a principal officer of the insurer.] _______________________ 1. Inserted by Act 62 of 1968, section 33 (w.e.f. 1-6-1969). 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 "his" (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).

Insurance Act, 1938 (4 of 1938) Section 101B

Title: Advisory Committee

State: Central

Year: 1938

( 1 )1[The Authority with the previous approval of the Central Government] shall , for the purposes of section 101 A, constitute an Advisory Committee consisting of not more than five persons having special knowledge and experience of the business of insurance. ( 2 ) The term of office of, and the allowances payable to, me mbers of the Advisory Committee, the procedure to be followed by, and the quorum necessary for the transaction of business of, the Committee and the manner of filling casual vacancies therein shall be such as may be2[determined by the regulations made by the Authority]. __________________________ 1. Substituted by Act 41 of 1999, section 30 and Schedule I, for "the Central Government" (w.e.f. 19-4-2000). 2. Substituted by Act 41 of 1999, section 30 and Schedule I, for "prescribed" (w.e.f. 19-4-2000).

Insurance Act, 1938 (4 of 1938) Section 101A

Title: Re-insurance with Indian Re-insurers

State: Central

Year: 1938

.....re-insurer or other insurer the entire sum assured on any policy or any portion thereof in excess of the percentage specified under sub-section ( 2 ). ( 8 ) In this section,-- (i) "policy" me ans a policy issued or renewed on or after the 1 st day of April, 1961 , in respect of general insurance business transacted in India and does not include a re-insurance policy; and 2[ (ii) "Indian re-insurer" means an Indian insurance company which has been granted a certificate of registration under sub-section (2A) of section 3 by the Authority to carry on exclusively the re-insurance business in India. ] ____________________ 1. Substituted by Act 41 of 1999, section 30 and Schedule I, for "The Central Government" (w.e.f. 19-4-2000). 2. Substituted by Act 42 of 2002, section 15, for cause (ii) (w.e.f. 23-9-2002).

Insurance 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.

Insurance Act, 1938 (4 of 1938) Section 100

Title: Publication of Notices and Documents of Mutual Insurance Companies and Co-operative Life Insurance Societies

State: Central

Year: 1938

..... Provided that, where any me mbers of the company are domiciled in a State other than that in which the principal office of the company is situated, publication of the2[ *** ] notice of the me etings shall be made in a newspaper or newspapers published in the principal languages of that State and circulating therein3[and any me mber of the company domiciled in that State shall be entitled on application to the company to receive from it a copy of the balance-sheet and revenue account]. _______________________ 1. Substituted by Act 47 of 1950, section 57, for "publish such notices or documents" (w.e.f. 1-9-1950). 2. The words "balance-sheet, revenue account and" omitted by Act 13 of 1941, section 54 (w.e.f. 8-4-1941). 3. Added by Act 13 of 1941, section 54 (w.e.f. 8-4-1941).

Insurance Act, 1938 (4 of 1938) Section 98A

Title: Prohibition of Loans

State: Central

Year: 1938

1[ 98A . Prohibition of loans The provisions of section 29 shall apply to Co­operative Life Insurance Societies as they apply to other insurers,2[ * ** ].] _________________ 1. Inserted by Act 6 of 1946, section 44 (w.e.f. 20-3-1946). 2. Certain words omitted by Act 47 of 1950, section 56 (w.e.f. 1-6-1950).