Insurance Regulatory and Development Authority Act, 1999 Insurance Regulatory and Development Authority Act, 1999 Insurance Regulatory and Development Authority Act, 1999
 
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Insurance Regulatory and Development Authority Act, 1999

 

Sections

Insurance Regulatory and Development Authority Act, 1999

 

Preamble

   
  CHAPTER I: PRELIMINARY
1.

Short title, extent and commencement

2.

Definitions

   
  CHAPTER II : INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY
3.

Establishment and incorporation of Authority

4.

Composition of Authority

5.

Tenure of office of Chairperson and other members

6.

Removal from office

7.

Salary and allowances of Chairperson and members

8.

Bar on future employment of members

9.

Administrative powers of Chairperson

10.

Meetings of Authority

11.

Vacancies, etc., not to invalidate proceedings of Authority

12.

Officers and employees of Authority

   
  CHAPTER III : TRANSFER OF ASSETS, LIABILITIES, ETC., OF INTERIM INSURANCE REGULATORY AUTHORITY
13.

Transfer of assets, liabilities, etc., of Interim Insurance Regulatory Authority

   
  CHAPTER IV : DUTIES, POWERS AND FUNCTIONS OF AUTHORITY
14.

Duties, powers and functions of Authority

   
  CHAPTER V : FINANCE, ACCOUNTS AND AUDIT
15.

Grants by Central Government

16.

Constitution of Fund

17.

Accounts and audit

   
  CHAPTER VI : MISCELLANEOUS
18.

Power of Central Government to issue directions

19.

Power of Central Government to supersede Authority

20.

Furnishing of returns, etc., to Central Government

21.

Chairperson, members, officers and other employees of Authority to be public servants

22.

Protection of action taken in good faith

23.

Delegation of powers

24.

Power to make rules

25.

Establishment of Insurance Advisory Committee

26.

Power to make regulations

27.

Rules and regulations to be laid before Parliament

28.

Application of other laws not barred

29.

Power to remove difficulties

30.

Amendment of Act 4 of 1938

31.

Amendment of Act 31 of 1956

32.

Amendment of Act 57 of 1972

 

 

 

SCHEDULE I : AMENDMENTS TO THE INSURANCE ACT, 1938 (4 of 1938)

 

Insurance Regulatory and Development Authority Act, 1999

 

 

 

 

 

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