64LFunctions of Executive Committee of General Insurance Council

(1) The functions of the Executive Committee of the General Insurance Council shall be--

(a) to aid and advise insurers, carrying on general insurance business, in the matter of setting up standards of conduct and sound practice and in the matter of rendering efficient service to holders of policies of general insurance;

(b) to render advice to the ¹[Authority] in the matter of controlling the expenses of such insurers carrying on business in India in the matter of commission and other expenses;

(c) to bring to the notice of the ¹[Authority] the case of any such insurer acting in a matter prejudicial to the interests of holders of general insurance policies;

(d) to act in any matter incidental or ancillary to any of the matters specified in clauses (a) to (c) as with the approval of the ²[Authority] may be notified by the General Insurance Council in the Gazette of India.

³[(2) For the purpose of enabling it to effectively discharge its functions, the Executive Committee of the General Insurance Council may collect such fees as may be laid down in the bye-laws made by the Council from the insurers carrying on general insurance business.]

⁴[Provided that if the General Insurance Council thinks fit, it may by a resolution passed by it, waive the collection of the prescribed fees for any year and where any such resolution has been approved by the ²[Authority], the Executive Committee of the General Insurance Council shall not collect any fees in relation to that year.]