RULE 25: REASSIGNMENT OF RETURN OF POLICY


(1) Save as provided by sub- rule (3) of Rule 27, when the subscriber,—

(a) quits the service; or

(b) has proceeded on leave preparatory to retirement and applies to the Accounts Officer for reassignment or return of the policy; or

(c) while on leave has been permitted to retire or declared by Competent Medical Authority to be unfit for further services and applies to the Accounts Officer for re-assignment on return of the policy; or

(d) pays or repays to the Fund the whole or any of the purposes mentioned in sub-clause (ii) of clause (a) and sub-clauses (i) and

(ii) of clause (b) of Rule 19, the Accounts officer shall,—

(ii) if the policy has been assigned to the Governor of Maharashtra under Rule 23 reasing the policy of the first form set forth in the Third Schedule to the subscriber or to the subscriber and the joint assured, as the case may be, and make it over to the subscriber together with a signed notice of the reassignment addressed to the Insurance Company; if the policy has been delivered to him under clause (b) of sub-rule (1) of Rule 23, make over the policy of the subscriber:

Provided that, if the subscriber, after proceeding on leave preparatory to retirement or after being while on leave, permitted to retire or declared by Competent Medical Authority to be unfit for further service, returns to duty, any policy so re-assigned or made over shall if it has not matured or been assigned or charged or encumbered in any way, be again assigned to the Governor of Maharashtra and delivered to the Accounts Officer, as the case may be, in the manner provided in Rule 22 and thereupon the provisions of these rules shall so far as may be, again, apply in respect of the policy:

Provided further that, if the policy has matured or been assigned or charged or encumbered in anyway, the provisions of sub-rule (4) of Rule 23 applicable to a failure to assign and deliver a policy shall apply.

(2) Save as provided by sub-rule (3) of Rule 27, when the Subscriber dies before quitting the service, the Accounts officer shall—

(i) if the policy has been assigned to the Governor of Maharashtra under Rule 23, reassign the policy of the Second Form set forth in the Third Schedule to such person, as may be legally entitled to receive it, and shall make over the policy to such person together with a signed notice of the re-assignment addressed to the Insurance Company;

(ii) if the policy has been delivered to him under clause (b) of sub- rule (1) of Rule 23 make over the policy to the beneficiary if any or if there is no beneficiary, to such person as may be legally entitled to receive it.

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