Lawgist4Composition of Authority
The Authority shall consist of the following members, namely:--
(a) a Chairperson;
(b) not more than five whole-time members;
(c) not more than four part-time members,
to be appointed by the Central Government from amongst persons of ability, integrity and standing who have knowledge or experience in life insurance, general insurance, actuarial science, finance, economics, law, accountancy, administration or any other discipline which would, in the opinion of the Central Government, be useful to the Authority:
Provided that the Central Government shall, while appointing the Chairperson and the whole-time members, ensure that at least one person each is a person having knowledge or experience in life insurance, general insurance or actuarial science, respectively.
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- 3 Establishment and incorporation of Authority
- 4 Composition of Authority
- 5 Tenure of office of Chairperson and other members
- 6 Removal from office
- 7 Salary and allowances of Chairperson and members
- 8 Bar on future employment of members
- 9 Administrative powers of Chairperson
- 10 Meetings of Authority
- 11 Vacancies, etc., not to invalidate proceedings of Authority
- 12 Officers and employees of Authority
