Section 2   [ View Judgements ]

DEFINITIONS


In this Act, unless the context otherwise requires,-

(a) "appointed day" means the 13th day of May, 1971;

(b) 'Custodian' means the person appointed under Section 4-to take Over the management of the undertaking of any insurer;

(c) "general insurance business" means fire, marine or miscellaneous insurance business, whether carried on singly or in combination with one or more of them, but does not include capital redemption business and annuity certain business;

(d) "Insurance Act" means the Insurance Act, 1938-;

(e) "insurer" means an insurer, as defined in the Insurance Act-, who carries on general insurance business in India, and includes an insurer whose registration under that Act has not remained wholly cancelled for a period of six months immediately before the appointed day, but does not include the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956-, or any State Government which carries on general insurance business;

(f) "notified order" means an order notified in the Official Gazette;

(g) "prescribed" means prescribed by rules made under this Act;

(h) "undertaking", in relation to an insurer incorporated outside India, means the undertaking of that insurer in India;

(i) words and expressions used herein but not defined, and defined inthe Insurance Act-, have the meanings respectively aligned to them in that Act.

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