Sections | Insurance Act, 1938 |
| |
| Special Provisions of Law |
45. | Policy not to be called in question on ground of mis‑statement after two years |
46. | Application of the law in force in India to policies issued in India |
47. | Payment of money into court |
47A. | Claims on small life insurance Policies |
48. | Directors of insurers being companies |
48A. | Life insurance agents not to be directors of life insurance companies |
48B. | Further provision regarding directors |
48C. | Repealed |
49. | Restriction on dividends and bonus |
50. | Notice of options available to the assured on the lapsing of a policy |
51. | Supply of copies of proposals and medical reports |
52. | Prohibition of business on dividing principle |
| |
| Management by Administrator |
52A. | When Administrator for management of insurance business may be appointed |
52B. | Powers and duties of the Administrator |
52BB. | Powers of Administrator respecting property liable to attachment under section 106 |
52C. | Cancellation of contracts and agreements |
52D. | Termination of appointment of Administrator |
52E. | Finality of decision appointing Administrator |
52F. | Penalty for withholding documents of property from Administrator |
52G. | Protection of action taken under sections 52A to 52D |
| |
| Acquisition of the Undertakings of Insurers in certain cases |
52H. | Power of Central Government to acquire undertakings of insurers in certain cases |
52-I. | Power of Central Government to make scheme |
52J. | Compensation to be given to the acquired insurer |
52K. | Constitution of the Tribunal |
52L. | Tribunal to have powers of Civil Court |
52M. | Procedure of the Tribunal |
52N. | Special provisions for the dissolution of acquired insurers |
| |
| Winding up |
53. | Winding up by the court |
53A. | Unpaid-up share capital |
54. | Voluntary winding up |
55. | Valuation of liabilities |
56. | Application of surplus assets of life insurance fund in liquidation or insolvency |
57. | Winding up of secondary companies |
58. | Scheme for partial winding up of insurance companies |
59. | Return of deposits |
60. | Notice of policy values |
61. | Power of Court to reduce contracts of insurance |
| |
| Special Provisions relating to External Companies |
62. | Power of Central Government to impose reciprocal disabilities on Non-Indian companies |
63. | Particulars to be filled by insurers established outside India |
64. | Books to be kept by insurers established outside India |
| |
| PART II A: INSURANCE ASSOCIATION OF INDIA, COUNCIL OF THE ASSOCIATION AND COMMI1lEES THEREOF |
64A. | Incorporation of the Insurance Association of India |
64B. | Entry of names of members in the register |
64C. | Councils of the Insurance Association of India |
64D. | Authority of members of association to act through agents |
64E. | Authorities of the Life Insurance Council and the General Insurance Council |
64F. | Executive Committees of the Life Insurance Council and the General Insurance Council |
64G. | Resignation and filling up of casual vacancies |
64H. | Duration and dissolution of Executive Committees |
64-I. | Power of Executive Committee of Life Insurance Council to hold examinations for insurance agents |
64J. | Functions of executive committee of Life Insurance Council |
64K. | Executive Committee of Life Insurance Council may advise in controlling expenses |
64L. | Functions of the executive committee of General Insurance Council |
64M. | Executive Committee of General Insurance Council may advise in controlling expenses |
64N. | Powers of the Executive Committees to act together in certain cases |
64-O. | Repealed |
64P. | Repealed |
64Q. | Repealed |
64R. | General powers of Life Insurance Council and General Insurance Council |
64S. | Power of Central Government to remove difficulties |
64T. | Power to exempt |
| |
| PART IIB: TARIFF ADVISORY COMMITTEE AND CONTROL OF TARIFF RATES |
64U. | Establishment of Tariff Advisory Committee |
64UA. | Composition of the Advisory Committee |
64UB. | Power to make rules in respect of matters in this Part |
64UC. | Power of the Advisory Committee to regulate rates, advantages, etc. |
64UD. | Transitional provisions |
64UE. | Power of the Advisory Committee to require information, etc. |
64UF. | Assets and liabilities of the General Insurance Council to vest in the Advisory Committee |
64UG. | Contracts, etc., to be effective by or against the Advisory Committee |
64UH. | Employees, etc., to continue |
64UI. | Duty of person having custody or control of property to deliver such property to the Advisory Committee |
64UJ. | Power of the Advisory Committee to constitute Regional Committees |
64UK. | Levy of fees by the Advisory Committee |
64UL. | Power to rename difficulties |
64UM. | Licensing of surveyors and loss assessors |
| |
| PART IIC: SOLVENCY MARGIN, ADVANCE PAYMENT OF PREMIUM AND RESTRICTIONS ON THE OPENING OF A NEW PLACE OF BUSINESS |
64V. | Assets and liabilities how to be valued |
64VA. | Sufficiency of assets |
64VB. | No risk to be assumed unless premium is received in advance |
64VC. | Restrictions on the opening of a new place of business |