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Insurance 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.....

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Deposit Insurance and Credit Guarantee Corporation Act, 1961 Amending Act 2

Title: Deposit Insurance Corporation (Amendment and Miscellaneous Provisions) Act, 1978

State: Central

Year: 1961

.....of 1956, or in any other law forthe time being in force. 8. Amendment of the Deposit Insurance corporation Act, 1961 On the commencement of this Act, the Deposit Insurance Corporation Act, 1961 (47 of 1961), shall have effect subject to the following amendments, namely:-- (1) in the long title, after the words "insurance of deposits", the words "and guaranteeing of credit facilities" shall be inserted; (2) in section 1, in sub-section (1), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (3) in section 2,-- (i) in clause (e), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (ii) after clause (ee), the following clause shall be inserted, namely: -- '(eea) "credit institution" means all or any of the following, namely: -- (i) a banking company; (ii) a corresponding new bank; (iii) a Regional Rural Bank; (iv) a co-operative bank; (v) a financial institution;'; (iii) after clause (hh), the following clause shall be inserted, namely:-- '(hha) "financial institution" means any.....

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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 .....

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Insurance Act, 1938 (4 of 1938) Amending Act 1

Title: Insurance (Amendment) Act, 2002

State: Central

Year: 1938

Insurance (Amendment) Act, 2002 [Act No. 42 of 2002] PREAMBLE An Act further to amend the Insurance Act, 1938 BE it enacted by Parliament in the Fifty-second Year of the Republic of India as follows :-- 1. Short title and commencement (1) This Act may be called the Insurance (Amendment) Act, 2002. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint : Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. 2. Amendment of section 2 In section 2 of the Insurance Act, 1938 (4 of 1938) (hereinafter referred to as the principal Act),-- (a) in clause (1), for the words "qualifications as may be prescribed", the words "qualifications as may be specified by the regulations made by the Autho-rity" shall be substituted; (b) in clause (3), sub-clause (v) shall be omitted; (c) after clause (8), the following clause shall be inserted, namely :-- '(8A) "insurance co-operative society" means any insurer being a co-operative.....

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Deposit Insurance Corporation (Amendment and Miscellaneous Provisions) Act, 1978 Chapter III

Title: Amendments to the Deposit Insurance Corporation Act, 1961

State: Central

Year: 1978

..... (1) in the long title, after the words "insurance of deposits", the words "and guaranteeing of credit facilities" shall be inserted; (2) in section 1, in sub-section (1), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (3) in section 2,-- (i) in clause (e), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (ii) after clause (ee), the following clause shall be inserted, namely: -- '(eea) "credit institution" means all or any of the following, namely: -- (i) a banking company; (ii) a corresponding new bank; (iii) a Regional Rural Bank; (iv) a co-operative bank; (v) a financial institution;'; (iii) after clause (hh), the following clause shall be inserted, namely:-- '(hha) "financial institution" means any financial institution within the meaning of clause (c) of section 451 of the Reserve Bank of India Act, 1934 (2 of 1934); (4) in section 3, after sub-section (1), the following sub-section shall be inserted, namely: -- "(1A) Any reference in this Act to the Deposit.....

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Deposit Insurance Corporation (Amendment and Miscellaneous Provisions) Act, 1978 Section 8

Title: Amendment of the Deposit Insurance Corporation Act, 1961

State: Central

Year: 1978

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The Securities and Insurance Laws (Amendment and Validation) Act, 2010 No. 26 of 2010[20th August, 2010.] Complete Act

Title: The Securities and Insurance Laws (Amendment and Validation) Act, 2010 No. 26 of 2010[20th August, 2010.]

State: Central

Year: 2010

An Act further to amend the Reserve Bank of India Act, 1934, the Insurance Act, 1938, the Securities Contracts (Regulation) Act, 1956 and the Securities and Exchange Board of India Act, 1992.BE it enacted by Parliament in the Sixty-first Year of the Republic of India as follows:-CHAPTER IPRELIMINARY 1. Short title and commencement. - (1) This Act may be called the Securities and Insurance Laws (Amendment and Validation) Act, 2010.(2) It shall be deemed to have come into force on the 18th day of June, 2010. CHAPTER IIAMENDMENT TO THE RESERVE BANK OF INDIA ACT, 1934 2. Insertion of new Chapter IIIE in Act 2 of 1934. - After Chapter IIID of the Reserve Bank of India Act, 1934, the following Chapter shall be inserted, namely:- "CHAPTER IIIEJOINT MECHANISM45Y. Joint Mechanism. - (1) Notwithstanding anything contained in this Act or the Securities and Exchange Board of India Act, 1992 or any other law for the time being in force, if any difference of opinion arises as to whether- (i) any instrument, being derivative referred to in clause (a) or money market instrument referred to in clause (b) or repo referred to in clause (c) or reverse repo referred to in clause (d) or securities.....

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Deposit Insurance and Credit Guarantee Corporation Act, 1961 Amending Act 1

Title: Deposit Insurance Corporation (Amendment) Act, 1968

State: Central

Year: 1961

.....(AMENDMENT) ACT.1968 [Act, No. 56 of 1968] [27th December, 1968] PREAMBLE An Act further to amend the Deposit Insurance Corporation Act, 1961. BE it enacted by Parliament in the Nineteenth year of the Republic of India as follows;-- 1. Short title, commencement, etc.- (1)This Act may be called the Deposit Insurance Corporation (Amendment) Act , 1968 (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act and for different States or for different parts thereof. (3) Any reference in any provision inserted in the Deposit Insurance Corporation Act, 1961 (hereinafter referred to as the principal Act).by any section of this Act to the commencement of the Deposit Insurance (Amendment) Act, 1968, shall in relation to the date on which the said section comes into force in that State or part. 2. Substitution of references to Banking Companies Act, 1949.- In the principal Act, for the words and figures "the Banking Companies Act 1949", wherever they occur, the words and figures "the Banking Regulation Act 1949" shall be.....

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General Insurance Business (Nationalisation) Act,1972 Amending Act 1

Title: General Insurance Business (Nationalisation) Amendment Act, 2002

State: Central

Year: 1972

..... Amending Act 1 - GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002 GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002 [Act No. 40 of 2002] Preamble An Act further to amend the General Insurance Business (Nationalisation) Act, 1972 BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows :-- 1. Short title and commencement (1) This Act maybe called the General Insurance Business (Nationalisation) Amendment Act,2002. (2) It shallcome into force on such date1 as the Central Government may, bynotification in the Official Gazette, appoint. ______________________ 1. Dateappointed is 21.03.2003 by Notification No. SO 329(E) dated 21.03.2003 2. Amendment of section 9 In section 9 ofthe General Insurance Business (Nationalisation) Act, 1972 (57 of 1972)(hereinafter referred to as the principal Act),-- (a) insub-section (1), the following proviso shall be inserted, namely :-- 'Provided thaton and from the commencement of the General Insurance Business (Nationalisation)Amendment Act, 2002, the provisions of this sub-section shall have effect as iffor the words "superintending, controlling and.....

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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 -.....

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