The Insurance Regulatory and Development Authority Act `1999

An Act to provide for the establishment of an Authority to protect the interests of holders of insurance policies, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto and further to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the General Insurance Business (Nationalisation) Act, 1972.
1999
  • TRANSFER OF ASSETS, LIABILITIES, ETC., OF INTERIM INSURANCE REGULATORY AUTHORITY

  • 13
     Transfer of assets, liabilities, etc., of Interim Insurance Regulatory Authority
  • DUTIES, POWERS AND FUNCTIONS OF AUTHORITY

  • 14
     Duties, powers and functions of Authority
  • FINANCE, ACCOUNTS AND AUDIT

  • 15
     Grants by Central Government
  • 16
     Constitution of Fund
  • 17
     Accounts and audit
  • MISCELLANEOUS

  • 18
     Power of Central Government to issued 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