Section
Section Title
  INTRODUCTION
  Statement of Object
  1 Short title, extent and commencement View Judgements
  2 Definitions View Judgements
  2A 1 Interpretation of certain words and expressions View Judgements
  2B 1 Appointment of Controller of Insurance View Judgements
  2C Prohibition of transaction of insurance business by certain persons 1 View Judgements
  2D Insurers to be subject to this Act while liabilities remain unsatisfied View Judgements
  2E This Act not to apply to certain insurers, ceasing to enter into new contracts before commencement of Act View Judgements
  3 Registration View Judgements
  3A 1 Renewal of registration View Judgements
  3B Certification of soundness of terms of life insurance business 1 View Judgements
  4 Minimum limits for annuities and other benefits secured by policies of life insurance View Judgements
  5 Restriction on name of insurer View Judgements
  6 Requirement as to capital 1 View Judgements
  6A Requirements as to capital structure and voting rights and maintenance of registers of beneficial owners of shares 1 View Judgements
  6AA Manner of divesting excess shareholding by promoter in certain cases 1 View Judgements
  6B 1 Provision for securing compliance with requirements relating to capital structure View Judgements
  6C 1 Conversion of company limited by shares into company limited by guarantee View Judgements
  7 Deposits View Judgements
  8 Reservation of deposits View Judgements
  9 1 Refund of Deposit View Judgements
  10 Separation of accounts and funds View Judgements
  11 Accounts and balance-sheet View Judgements
  12 Audit View Judgements
  13 Actuarial report and abstract View Judgements
  14 Register of policies and register of claims View Judgements
  15 Submission of returns View Judgements
  16 Returns by insurers established outside India View Judgements
  17 Exemption from certain provisions of the Indian Companies Act, 1913 View Judgements
  18 Furnishing reports View Judgements
  19 Abstract of proceedings of general meetings View Judgements
  20 Custody and inspection of documents and supply of copies View Judgements
  21 Powers of 1 Authority regarding returns View Judgements
  22 Powers of 1 Authority to order revaluation View Judgements
  23 Evidence of documents View Judgements
  24 Summary of returns to be published View Judgements
  25 Returns to be published in statutory forms View Judgements
  26 Alterations in the particulars furnished with application for registration to be reported View Judgements
  27 Investment of assets 1 View Judgements
  17 Exemption from certain provisions of the Indian Companies Act, 1913 View Judgements
  17A This Act not to apply to preparation of accounts View Judgements
  18 Furnishing reports View Judgements
  19 Abstract of proceedings of general meetings View Judgements
  20 Custody and inspection of documents and supply of copies View Judgements
  21 Powers of 1 Authority regarding returns View Judgements
  22 Powers of 1 Authority to order revaluation View Judgements
  23 Evidence of documents View Judgements
  24 Summary of returns to be published View Judgements
  25 Returns to be published in statutory forms View Judgements
  26 Alterations in the particulars furnished with application for registration to be reported View Judgements
  27 Investment of assets 1 View Judgements
  27A 1 Further provisions regarding investments View Judgements
  27B Further provisions regarding investments 1 View Judgements
  27C Prohibition for investment of funds outside India View Judgements
  27D Manner and conditions of investment View Judgements
  28 Statement of investment of assets View Judgements
  28A Returns of investments relating to (he assets and changes therein View Judgements
  29 Prohibition of loans View Judgements
  30 Liability of directors, etc., for loss due to contravention of sections 27, 1 27A 2 27B and 29 View Judgements
  31 Assets of insurer how to be kept View Judgements
  31AA Provisions relating to managers, etc 1 View Judgements
  31B Power to restrict payment of excessive remuneration 1 View Judgements
  32 Limitation on employment of managing agents and on the remuneration payable to them View Judgements
  32A Prohibition of common officers and requirement as to whole-time officers 1 View Judgements
  32B Insurance business in rural or social sector 1 View Judgements
  32C Obligations of insurer in respect of rural or unorganised sector and backward classes View Judgements
  33 1 Power of investigation and inspection by Authority View Judgements
  33A Power to appoint staff View Judgements
  34 Power of the 1 Authority to issue directions View Judgements
  34A Amendment of provisions relating to appointments of managing directors, etc., to be subject to previous approval of the 1 Authority View Judgements
  34B 1 Power of 2 Authority to remove managerial persons from office View Judgements
  34CC Power of 1 Authority to appoint additional directors 2 View Judgements
  34D 34D. Sections 34B and 34C to override other laws 1 View Judgements
  34E Further powers 1 View Judgements
  34F Power of 1 Authority to issue directions regarding re-insurance treaties, etc 2 .- View Judgements
  34G Power of 1 Authority to order closure of foreign branches 2 View Judgements
  34H Search and seizure 1 View Judgements
  35 Amalgamation and transfer of insurance business View Judgements
  36 Sanction of amalgamation and transfer by 1 Authority View Judgements
  37 Statements required after amalgamation and transfer View Judgements
  37A Power of [11] Authority to prepare Scheme of Amalgamation View Judgements
  38 Assignment and transfer of insurance policies View Judgements
  39 Nomination by policy-holder View Judgements
  40 Prohibition of payment by way of commission or otherwise for procuring business View Judgements
  40A Limitation of expenditure on commission 1 View Judgements
  40B Limitation of expenses of management in life insurance business 1 View Judgements
  40C Limitation of expenses of management in general insurance business 1 View Judgements
  41 Prohibition of rebates View Judgements
  42 Licensing of insurance agents View Judgements
  42A Registration of principal agents, chief agents and special agents 1 View Judgements
  42B 1 Regulation of employment or principal agents View Judgements
  42C Regulation of employment of chief agents and special agents 1 View Judgements
  42D Issue of licence to intermediary or insurance intermediary 1 View Judgements
  42E Commission, brokerage or fee payable to intermediary or insurance intermediary View Judgements
  43 Register of insurance agents View Judgements
  44 Prohibition of cessation of payments of commission 1 View Judgements
  44A Power to call for information 1 View Judgements
  45 Policy not to be called in question on ground of mis-statement after two years View Judgements
  46 Application of the law in force in India to policies issued in India View Judgements
  47 Payment of money into Court View Judgements
  47A Claims on small life insurance policies 1 View Judgements
  48 Directors of insurers being companies View Judgements
  48A Life insurance agents not to be directors of life insurance companies View Judgements
  48B Further provision regarding directors View Judgements
  49 Restriction on dividends and bonus 1 View Judgements
  50 Notice of options available to the assured on the lapsing of a policy View Judgements
  51 Supply of copies of proposals and medical reports View Judgements
  52 Prohibition of business on dividing principle 1 View Judgements
  52AA When Administrator for management of insurance business may be appointed 1 View Judgements
  52B Powers and duties of the Administrator 1 View Judgements
  52BB Powers of Administrator respecting property liable to attachment under section 106 1 View Judgements
  52C Cancellation of contracts and agreements 1 View Judgements
  52D Termination of appointment of Administrator 1 View Judgements
  52E Finality of decision appointing Administrator 1 View Judgements
  52F Penalty for withholding documents of property from Administrator 1 View Judgements
  52G Protection of action taken under sections 52A to 52D 1 View Judgements
  52H Power of Central Government to acquire undertakings of insurers in certain cases 1 View Judgements
  52I Power of Central Government to make Scheme 1 View Judgements
  52J Compensation to be given to the acquired insurer 1 View Judgements
  52K Constitution of the Tribunal 1 View Judgements
  52L Tribunal to have powers of Civil Court 1 View Judgements
  52M Procedure of the Tribunal 1 View Judgements
  52N Special provisions for the dissolution of acquired insurers 1 View Judgements
  53 Winding up by the Court View Judgements
  53A Unpaid-up share capital 1 View Judgements
  54 Voluntary winding up View Judgements
  55 Valuation of liabilities View Judgements
  56 Application of surplus assets of life insurance fund in liquidation or insolvency View Judgements
  57 Winding up of secondary companies View Judgements
  58 Scheme for partial winding up of insurance companies View Judgements
  59 Return of deposits View Judgements
  60 Notice of policy values View Judgements
  61 Power of Court to reduce contracts of insurance View Judgements
  62 Power of Central Government to impose reciprocal disabilities on non-Indian companies View Judgements
  63 Particulars to be filed by insurers established outside India View Judgements
  64 Books to be kept by insurers established outside India View Judgements
  64A Incorporation of the Insurance Association of India View Judgements
  64B Entry of names of members in the register View Judgements
  64C Councils of the Insurance Association of India View Judgements
  64D Authority of members of Association to act through agents View Judgements
  64E Authorities of the Life Insurance Council and the General Insurance Council View Judgements
  64F Executive Committees of the Life Insurance Council and the Genera) Insurance Council View Judgements
  64G Resignation and filling up of casual vacancies View Judgements
  64H Duration and dissolution of Executive Committees View Judgements
  64L Power of Executive Committee of Life Insurance Council to hold examinations for insurance agents View Judgements
  64J Functions of Executive Committee of Life Insurance Council View Judgements
  64K Executive Committee of Life Insurance Council may advise in controlling expenses .- View Judgements
  64L Functions of the Executive Committee of General Insurance Council View Judgements
  64M Executive Committee of General Insurance Council may advise in controlling expenses View Judgements
  64N Powers of the Executive Committees to act together in certain cases View Judgements
  64O Power of General Insurance Council to regulate rates of insurance, etc View Judgements
  64P Regional Councils View Judgements
  64Q Functions of the Regional Councils View Judgements
  64R General powers of Life Insurance Council and General Insurance Council View Judgements
  64S Power of Central Government to remove difficulties View Judgements
  64T Power to exempt View Judgements
  64U Establishment of Tariff Advisory Committee View Judgements
  64UA Composition of the Advisory Committee View Judgements
  64UB Power to make rules in respect of matters in this Part View Judgements
  64UC Power of the Advisory Committee to regulate rates, advantages, etc View Judgements
  64UD Transitional provisions View Judgements
  64UE Power of the Advisory Committee to require information, etc View Judgements
  64UF Assets and liabilities of the General Insurance Council to vest in the Advisory Committe View Judgements
  64UG Contracts, etc., to be effective by or against the Advisory Committee View Judgements
  64UH Employees, etc., to continue View Judgements
  64UI Duty of person having custody or control of property to deliver such property to the Advisory Committee View Judgements
  64UJ Power of the Advisory Committee to constitute Regional Committees View Judgements
  64UK Levy of fees by the Advisory Committee View Judgements
  64UL Power to remove difficulties View Judgements
  64UM Licensing of surveyors and loss assessors View Judgements
  64V Assets and liabilities how to be valued View Judgements
  64VA Sufficiency of assets View Judgements
  64VB No risk to be assumed unless premium is received in advance View Judgements
  64VC Restrictions on the opening of a new place of business View Judgements
  65 Definition of "provident society" 1 View Judgements
  65A Prohibition of transaction of insurance business by provident societies other than public companies or co-operative societies 1 View Judgements
  66 Restrictions on provident societies 1 View Judgements
  67 Name View Judgements
  68 Insurable interest View Judgements
  69 Dividing business View Judgements
  70 Registration View Judgements
  70A Renewal of registration 1 View Judgements
  70B Supplementary information and reports of alterations in particulars furnished with application for registration 1 View Judgements
  71 Certain provisions of Part II to apply to provident societies 1 View Judgements
  72 Working Capital View Judgements
  73 Deposits View Judgements
  73A Restriction on name of provident society 1 View Judgements
  74 Rules View Judgements
  75 Amendment of rules View Judgements
  76 Supply of copy of rules View Judgements
  77 Registered office View Judgements
  78 Publication of authorised capital to contain also subscribed and paid-up capital View Judgements
  79 Registers and books View Judgements
  80 Revenue account, balance-sheet and annual statements View Judgements
  81 Actuarial report and abstract View Judgements
  82 Submission of returns to 1 Authority View Judgements
  83 Actuarial examination of schemes View Judgements
  84 Separation of accounts and funds View Judgements
  85 Investment funds .- [1] View Judgements
  86 Inspection of books View Judgements
  87 Inquiry by or on behalf of Authority View Judgements
  87A Amalgamation and transfer of insurance business 1 View Judgements
  88 Winding up by Court and voluntary winding up View Judgements
  89 Reduction of Insurance contracts View Judgements
  90 Appointment of liquidator View Judgements
  90A Application of Act to liquidators 1 View Judgements
  91 Powers of liquidator View Judgements
  92 Procedure at liquidation View Judgements
  93 Dissolution of provident society View Judgements
  94 Nominations and assignments View Judgements
  94A Insurance co-operative society to be an insurer View Judgements
  95 Definitions View Judgements
  96 Application of Act to Mutual Insurance Companies and Co-operative Life Insurance Societies View Judgements
  97 Working capital of Mutual Insurance Companies and Co-operative Life Insurance Societies View Judgements
  98 Deposits to be made by Mutual Insurance Companies and Co-operative Life Insurance Societies View Judgements
  98A Prohibition of loans 1 View Judgements
  99 Transferees and assignees of policies not to become members View Judgements
  100 Publication of notices and documents of Mutual Insurance Companies and Co-operative Life Insurance Societies View Judgements
  101 Supply of documents to members View Judgements
  101A Re-insurance with Indian re-insurers View Judgements
  101B Advisory Committee View Judgements
  101C Examination of re-insurance treaties 1 View Judgements
  102 Penalty for default in complying with, or act in contravention of, this Act View Judgements
  103 Penalty for carrying on insurance business in contravention of sections 3, 7 and 98.- View Judgements
  104 Penalty for false statement in document View Judgements
  105 Wrongfully obtaining or withholding property View Judgements
  105A Offences by companies View Judgements
  105B . Penalty for failure to comply with section 32B View Judgements
  105C Penalty for failure to comply with section 32C View Judgements
  106 1 Power of Court to order restoration of property of insurer or compensation in certain cases View Judgements
  106A Notice to and hearing of 1 Authority View Judgements
  107 Previous sanction of Advocate-General for institution of proceedings View Judgements
  107A Chairman, etc. to be public servant View Judgements
  108 Power of Court to grant relief View Judgements
  109 Cognizance of offences View Judgements
  110 Appeals View Judgements
  110A Delegation of powers and duties of 1 Chairperson of the Authority View Judgements
  110B Signature of documents View Judgements
  110C Power to call for information View Judgements
  110D Certain claims for compensation barred View Judgements
  110E Sections 3A, 27B, 28B, 33, etc., to apply to general insurance business of the Life Insurance Corporation of India View Judgements
  110F Provisions applicable to State Governments, etc View Judgements
  110G Constitution of Consultative Committee View Judgements
  110H Appeals View Judgements
  111 Service of notices View Judgements
  112 Declaration of interim bonuses View Judgements
  113 Acquisition of surrender values by policy View Judgements
  114 Power of Central Government to make rules View Judgements
  114A Power of Authority to make regulations View Judgements
  115 Alteration of forms View Judgements
  116 Power to exempt from certain requirements View Judgements
  116A Summary of returns to be published View Judgements
  117 Saving of provisions of Indian Companies Act, 1913 View Judgements
  118 Exemptions View Judgements
  119 Inspection and supply of copies of published prospectus, etc View Judgements
  120 Determination of market value of securities deposited under this Act View Judgements
  121 Amendment of section 130, Act 4 of 1882 View Judgements
  122 Amendment of Schedule I, Act 9 of 1908 View Judgements
  123 Repeals View Judgements



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