11. Vide Notification No. 59-1 (1) 38, dated 3rd June, 1939, published In the Gazette of India, Pt. 1. p. 926. 

 

CHAPTER 1 Preliminary

 

Rule 1 Short title

 

These rules may be called the Insurance Rules, 1939

 

Rule 2 Definitions

 

In these rules,-

(i) "the Act" means the Insurance Act, 1938 (4 of 1938);

 

(ii) "the Bank" means the Reserve Bank of India;

 

[(iii) "Bombay area" means the area comprising the State of Maharashtra, Gujarat and Madhya Pradesh and [the Union Territo- ries of Goa, Daman and Diu, and Dadra and Nagar Haveli];]

 

(iv) "Calcutta area" means the area comprising the States of Assam, Bihar, Manipur, Meghalaya, Orissa, West Bengal, Sikkim and Tripura and the Tuensang district In the State of Nagaland and Union Territories of Arunachal Pradesh, Mizoram and Andaman and Nicobar Islands;]

 

(v) "Delhi area" means the area comprising the States of Jammu and Kashmir, Haryana, Himachal Pradesh, Punjab, Rajasthan and Uttar Pradesh and the Union Territories of Delhi and Chandigarh;

 

(vi) "Madras area" means the area comprising the States of Andhra Pradesh, Karnataka, Kerala, and Tamil Nadu, and the Union Territo- ries of Pondicherry and Lakshadweep; and

 

(vii) words used but not defined in these rules have the meanings respectively assigned to them in the Act.

 

CHAPTER 2 Actuaries

 

Rule 3 Qualifications of actuaries

 

Any person signing as actuary under the Act shall be a Fellow of the Institute of Actuaries, London, or a Fellow of the Faculty of Actuaries in Scotland 33. Ins. by S.O. 961 (E), dated 24th March. 1992. [or a Fellow of Actuarial Society of India]: Provided that where application is made to the Controller of Insurance and it Is shown to his satisfaction that the employment of an Associate of such institute of actuaries or of such Faculty of Actuaries 33. Ins. by S.O. 961 (E), dated 24th March. 1992. [or of such Actuarial Society] or of any other person having actuarial knowledge for any specified purpose is expedient in order to enable an Insurer or a provident society to carry out any of his or its obligations under the Act, the Controller of Insurance may grant the application and permit such person to sign as actuary for the specified purpose, subject to such conditions and restric- tions as the Controller of Insurance thinks fit to impose.

 

Rule 4

 

. . [* * * * * * *

 

CHAPTER 3 Deposits with the Bank

 

Rule 5 Deposits with the Bank

 

(1) Deposits made in pursuance of the Act shall be held by that office of the Bank (hereinafter referred to as the appropriate Indian office) in whose area of administration the principal office in the State of the depositor is situated : Provided that deposits in sterling securities shall be held by the London office of the Bank on behalf of the appropriate Indian office.

 

(2) Deposits in sterling securities shall be sent by the depositor with a covering letter to the Manager of the London office of the Bank, and shall not be brought on the books of the appropriate Indian office until the receipt of an intimation in Form I from the London office.

 

(3) Deposits, other than deposits in sterling securities, shall be sent by the depositor with a covering letter to the manager of the appropriate Indian office of the Bank.

 

(4) Securities shall be duly transferred to the Bank of the depositor.

 

(5) Upon receipt of the intimation referred to in sub-rule (2) or of a deposit under sub-rule (3) the appropriate Indian office of the Bank shall send-

 

(a) a certificate in Form II to the depositor; and

(b) a statement in Form III to the Controller of Insurance : Provided that, if the Bank is not satisfied as to the validity of the title of the depositor to the securities, it may return them to him with the request that they shall first be renewed or that such other measures as may be necessary shall be taken to clear the title.

 

(6) The market value of sterling securities held by the Bank shall be converted at ls.6d. to the rupee.

 

Rule 6 Changes in deposits

 

.-When the form or amount of a deposit is changed by reason of a subsequent deposit, a substitution or a payment under sub-section (9) or sub-section (10) of Section 7 of the Act or a sale or investment under sub-section (9-A) of the said section, the Bank shall, send a fresh certificate and a fresh statement of the nature, and in the manner, described in Cls. (a.) and (b) to sub-rule (5) of rule 5.

 

Rule 7 Maturing of deposits

 

When a security in deposit matures, or when any yield on such security ceases to accrue, the Bank shall not be bound to inform the depositor; but, upon receipt of a requisition from the depositor made in writing and in accordance with the provision of the Act, the Bank shall, within six weeks of such a receipt, collect the discharge value and hold the amount in cash to the credit of the depositor or invest it in securities specified by the depositor.

 

Rule 8 Interest and dividends on deposits

 

(1) No interest shall be paid on cash deposits.

 

(2) Interest or dividends on sterling securities shall, at the option of the depositor, be either paid In London by the London office of the Bank after deduction of a commission of 5s. on every sum of œ 100 or part thereof, or remitted by the London office of the Bank to the appropriate Indian office of the Bank at the telegraphic transfer rate on India prevailing on the date of realisation of the interest or dividends.

 

(3) The appropriate Indian office of the Bank shall remit interest or dividends on securities other than sterling securities, and amounts if any, received from the London office of the Bank under sub-rule (2) without delay to the depositor at an office in India to be specified by the depositor,-

 

(a) if the office so specified is at a place where there is an office of a Bank or a branch of the Imperial Bank of India, by means of a Government draft; and

(b) in other cases, by a Security Deposit Interest Payment Draft on the nearest Government Treasury:

 

Rule 9 Withdrawals, etc. from deposits

 

(1) Withdrawals and payments from deposits and purchases of securities shall not be made save in accordance with the provisions of the Act and on receipt by the Bank of a requisition in writing and in accordance with the provisions of the Act from the depositor, a liquidator acting in accordance with law or a Court of competent jurisdiction, as the case may be.

 

(2) The Bank shall not be bound, in pursuance of sub-rule (1), to return securities actually deposited, but may substitute therefor new scrip of securities of the same description and amount.

 

(3) The Bank shall be entitled to charge, for the purchase or sale of securities, any brokerage payable by the Bank in respect of such purchase or sale.

 

Rule 10 Information as regards deposits

 

(1) The Controller of Insur- ance shall be entitled, free of any fee to inspect or to require from the Bank any information relating to any security deposited with the Bank under the Act.

 

(2) The Bank shall, if so required, furnish the Controller of Insurance, or any person authorized by him in that behalf in writing with a copy of any entry in any register or book maintained by the Bank relating to any deposit made with the Bank under the Act.

 

(3) The Bank shall publish as soon as may be after the 1st January in each year in such manner as the Central Government may direct a list in Form IV of deposits made with it under the Act, as at 31st December of the preceding year.

 

CHAPTER 4 Securities and Investments

 

Rule 10A Pakistan securities

 

Securities guaranteed fully as regards principal and interest by a Provincial Government in Pakistan or charged on the revenues of any part of that Dominion and debentures or other securities for money issued by or on behalf of the trustees of the Port of Karachi shall be recognized, in the case of insurers Incorporated or domi- ciled in India, as approved securities-

(a) for the purposes of Section 7, Section 68 or Section 73, if such securities had been deposited with the Bank in pursuance of the Act before the 15th day of August, 1947, and continue to be so deposited with the Bank since that date, and

 

(b) for the purposes of Section 27 and Section 27A, if such securities had been acquired by an insurer or a provident society before the 15th day of August, 1947, and continue to be held since that date by the insurer or the provident society.

 

Rule 10B Assets deemed to be approved investments

 

22. Renumbered by G.S.R. 1275, published in the Gazette of India, Extraordinary, Pt. II, Sec. 3 (1). dated 28th May, 1969 (w.e.f. 1st June. 1969). [(1)] For the purposes of sub-section (1) of Section 27 of the Act, the following assets shall be deemed to be assets Invested or kept Invested in approved investments specified in sub-section (1) of Section 27A of the Act-

 

(a) interest, dividend and rents (outstanding and accrued);

(b) cash in hand and with banks (other than banks in liquidation) in current and collection accounts;

(c) bills receivable:

(d) value of furniture, fittings, machinery, stationery and library but not exceeding Rs. 10,000 or one per cent. of the sum referred to in sub-section (1) of Section 27 of the Act, whichever is greater;

(e) value of motor cars but not exceeding Rs. 20,000 or one-half per cent. of the sum referred to in sub-section (1) of Section 27 of the Act, whichever is greater;

(f) stamps on hand;

(g) amount of income-tax directed by the Income-tax authority, to be refunded;

(h) temporary advances granted to chief, special and insurance agents to the extent permitted under Cl. (b) of sub-section (3) of Section 29 of the Act.

 

33. Ins. by Renumbered by G.S.R. 1275, published in the Gazette of India, Extraordinary, Pt. II, Sec. 3 (1). dated 28th May, 1969 (w.e.f. 1st June. 1969). [(2)

 

(i) For the purposes of sub-section (2) of Section 27B of the Act, the following assets shall be deemed to be assets invested or kept invested in approved Investments specified In sub-section (1) of that section, namely :

(a) interest, dividends and rents (outstanding and accrued):

(b) cash in hand and with banks (other than banks in liquidation) in current and collection accounts;

(c) bills receivable:

(d) amounts due from other insurers in respect of reinsurance recoveries and deposits or reserves with other insurers in respect of treaties for reinsurances as to be accepted.

 

(ii) In respect of insurance specified in Cl. (c) of sub-section (16) of Section 27B of the Act, three-fourths of the value of the following assets shall also be deemed to be approved investments specified in sub-section (1) of Section 27B of the Act, namely :

(a) motor cars,

(b) stamps on hand,

(c) amounts of income-tax directed by the income-tax authorities to be refunded.]

 

Rule 10C Returns of investments and changes in investments

 

(1) The return to be furnished under sub-section (1) of Section 28A of the Act shall show all the investments made out of the controlled fund and subsisting as at the 31st day of December of the preceding year and shall be in Form IV-A: 11. Ins. by G.S.R. 1373, dated the 13th September, 1976, published in the Gazette of India. Pt. II. Sec. 3 (i). dated 25th September, 1976. [Provided that in the case of the Life Insurance Corporation of India, the aforesaid return shall show the said investments subsisting as at the last day of the preceding financial year and shall be in Form IV-AAA.]

 

(2) The return to be furnished under sub-section (2) of Section 28A of the Act shall be in Form IV-B 11. Ins. by G.S.R. 1373, dated the 13th September, 1976, published in the Gazette of India. Pt. II. Sec. 3 (i). dated 25th September, 1976. [and in the case of the Life Insurance Corporation of India the said return shall be in Form IV-BBB.]

 

22. Ins. by G.S.R. 1275. published in the Gazette of India. Extraordinary, Pt. II, Sec. 3 (i). dated 28th May, 1969(w.e.f. 1st June, 1969). [(3) The return to be furnished under sub-section (1) of Section 28B of the Act, shall show all the investments made out of the assets and subsisting as at the 31 st day of December of the preceding year shall be in Form IV-AA.

 

(4) The return to be furnished under sub-section (2) of Sec. 28-B of the Act shall be in Form IV-BB.]

 

Rule 10D Charging assets

 

33. Renumbered by Ins. by G.S.R. 1275. published in the Gazette of India. Extraordinary, Pt. II, Sec. 3 (i). dated 28th May, 1969(w.e.f. 1st June, 1969). [(1)] An insurer may subject the assets forming his controlled fund. not being securities kept invested In pursuance of sub-section (1) of Section 27, to a charge in favour of a banking company for the purpose of raising an over-draft, and investing the money so raised: Provided that the assets charged do not exceed in value ten per cent. of the controlled fund and the charge is created for a period not exceeding six months.

 

22. Ins. by G.S.R. 1275. published in the Gazette of India. Extraordinary, Pt. II, Sec. 3 (i). dated 28th May, 1969(w.e.f. 1st June, 1969). [(2) For the purpose of sub-section (11) of Section 27B the charge created in favour of one or more banking companies in respect of assets offered as

 

Rule 11 Prospectuses and tables

 

(1) No person shall supply or exhibit any prospectus or table of premium rates to any other person with a view to the issue of a policy of insurance unless such prospectus or table includes,-

 

(a) a description of the contingency or contingencies to be covered by insurance and the class or classes of lives or property eligible for insurance under the terms of such prospectus or table:

(b) a full statement of the circumstances, if any, in which rebates of the premiums quoted in the prospectus or table shall be allowed on the effecting or renewal of a policy, together with the rates of rebate applicable to each case: and

(c) a copy of Section 41 of the Act but not including the proviso to sub-section (1) thereof.

 

(2) The provisions of sub-rule (1) shall be deemed to have been complied with if to every such prospectus or table of premium rate supplied or exhibited after the date of commencement of the Act is attached in the form of an addendum a statement containing so much of the matters referred to in sub-ruled) as is not already included in the said prospectuses or tables, but every prospectus and table of premium rates printed after the coming into force of the Act shall have the matters referred to in said clauses incorporated therein.

 

Rule 12 Proposal Forms

 

22. Subs. by G.S.R. 14, published in the Gazette of India. Pt. II, Sec. 3 (i). dated 22nd November, 1975. [(1) It shall be clearly indicated-

 

(a) in every proposal form in the case of life insurance; or

(b) in the document, if any, forming the basis of the contract in the case of any other form of insurance, that rebate of premiums shall be allowed only in accordance with the details given in the prospectus or table of premium rates or, as the case may be, the relevant document, and that an offer or acceptance of any other rebate shall be an offence under Section 41 of the Act.]

 

(2) The provisions of sub-rule (2) of rule 11 shall apply mutatis mutandis to proposal forms, except that, where an addendum is attached

 

CHAPTER 5 Committees of the Insurance Councils

 

Rule 12A List of insurers

 

The Controller shall cause to be published in the Gazette of India, a list of the members and associate members of the Life Insurance and General Insurance Councils of the Insurance Association of India once every year in the month of January.

 

Rule 12B Constituencies of Insurers

 

(1) Members of the Insurance Association of India who are insurers carrying on life insurance business and having, a premium income in such business of more than three lakhs of rupees in the preceding year shall elect four individuals as members of the Executive Committee of the Life Insurance Council of the Insurance Association of India In the following manner :

 

(a) one individual by such members as have their head offices in the Calcutta area;

(b) two individuals by such members as have their head offices in the Bombay area;

(c) one individual by such members as have their head offices in the Delhi and Madras areas, the members in each area alternately electing the individual, the first election being held in the Delhi area.

 

(2) Members of the Insurance Association of India who are insurers carrying on life insurance business and having a premium income in such business of less than three lakhs of rupees in the preceding year shall elect four individuals as members of the Executive Committee of the Life Insurance Council of the Insurance Association of India in the following manner:

 

(a) one individual by such members as have their head offices in the Calcutta area;

(b) one individual by such members as have their head offices in the Bombay area;

(c) one individual by such members as have their head offices in the Madras area:

(d) one individual by such members as have their head offices in the Delhi area.

 

(3) Members of the Insurance Association of India who are insurers carrying on general insurance business shall elect individuals as members of the Executive Committee of the General Insurance Council of the Insurance Association of India in the following manner:

 

(a) one individual authorized to stand as a candidate by a member having his head office in the Calcutta area and whose premium income in such business in the preceding year exceeding ten lakhs of rupees and elected to the Committee by such members as have their head offices in the Calcutta area:

(b) one individual authorized to stand as a candidate by a member having his head office in the Calcutta area and whose premium income in such business in the preceding year did not exceed ten lakhs of rupees and elected to the Committee by such members as have their head offices in the Calcutta area;

(c) two individuals each of whom is authorized to stand as a candidate by a member having his head office in the Bombay area and whose premium in such business in the preceding year exceeded five lakhs of rupees and elected to the Committee by such members as have their head offices in the Bombay area;

(d) two individuals each of whom is authorized to stand as a candidate by a member having his head office in the Bombay area and whose premium in such business in the preceding year did not exceed five lakhs of rupees and elected to the Committee by such members as have their head offices in the Bombay area;

(e) one individual elected to the Committee by such member, as have their head offices in the Madras area ;

(f) one individual elected to the Committee by such members as have their head offices in the Delhi area.

 

(4) For the purpose of this rule if any dispute arises as to which area an insurer belongs, or as to the premium income of an insurer, the Controller shall decide the question and his decision shall be final. Explanation.-In this rule,-

 

(i) "preceding year" means the calendar year preceding the calen- dar year in which the election takes place;

(ii) "premium income" means the gross direct premium income of the insurer without taking into account premium income on re-insur- ances accepted or ceded.

 

Rule 12C Duties of Dissolved Executive Committees

 

When the Ex- ecutive Committee of the Life Insurance Council or of the General Insurance Council is dissolved, the outgoing members thereof who continue to hold office until a new Executive Committee is constituted, shall be entitled to discharge the following duties in the meantime-

(a) keep and maintain up-to-date a copy of the list of all members and associate members of the Life Insurance Council or the General Insurance Council, as the case may be;

 

(b) supervise the work of officers and servants employed by the Committee:

 

(c) collect the prescribed fees: and

 

(d) help the Chairman and the Secretary to conduct the necessary elections to the new Executive Committee.

 

Rule 12D Joint Meetings of Executive Committees

 

(1) When a re- quest is received by the Central Government from-

 

(a) the Controller of Insurance, or

(b) six individuals who are members of either or both of the Executive Committees of the Life Insurance Council and the General Insurance Council, or

(c) thirty insurers,

 

(2) It shall be the duty of the Chairman of the two Executive Commit- tees to convene, as soon as may be after the issue of the direction under preceding sub-rule ajoint meeting of all the members of the two Executive Committees at such place and at such time and date as the two Chairmen may decide.

 

(3) At such meeting, one of the two Chairmen shall be elected by the members present to preside and the matter referred to and no other matter shall be considered.

 

(4) The meeting may be adjourned from time to time to be held not necessarily at the same place, with the consent of the members present for further consideration of the matter or for considering a report from any sub-committee appointed for the purpose by the members present, but minutes of each meeting shall be kept and a copy thereof shall be furnished to the Controller of Insurance immediately after the meeting.

 

CHAPTER 6 Election of Directors by policy-holders

 

Rule 13 Qualifications of elected directors of insurance companies

 

(1) A person shall be eligible for election as a director of an insurance company under Section 48 of the Act, if he holds one or more policies of life Insurance issued by the company and satisfies the provisions of the said section and both the following requirements, namely :

 

(a) the policies shall insure either a total sum. Including any bonuses that may have attached to them before the date of election, of not less than Rs. 3,000, where the company has at that date been carrying on life insurance business for not less than five years, or of not less than Rs. 1.000 in other cases, or annuities on human life of a total amount of not less than Rs. 250 per annum without regard to the age of the company, and

(b) where the company has been carrying on life insurance business for more than two years, all the policies held in compliance with Cl. (a) shall have been in force for not less than one, two or three years, according as the company has at the date of election been carrying on life insurance business for not more than five years, for more than five but no more than eight years, or for more than eight years: Provided that the Central Government may, in respect of any insurer after taking into account the maximum sum assured permissible according to constitution or rules and regulations and other conditions, modify the above qualifications by fixing (i) for the sum insured or annuity, an amount lower than the corresponding amount mentioned In Cl. (a.) or Cl. (ii) for the period, a period shorter than the one mentioned in Cl. (b) or both.

 

(2) If at any date after election as a director, a person ceases to be a person holding one or more policies of life insurance satisfying the provi- sions of Section 48 and both the requirements specified in sub-rule (1) he shall forthwith cease to be an elected director of the company.

 

Rule 14 Election of directors under Sec. 48

 

(1) The election of direc- tors under Section 48 of the Act shall take place at a meeting (to be held at the place where the principal office of the company is situated or, with the prior consent and approval in writing of the Controller of Insurance, at any other place) of the holders of policies of life insurance issued by the company, who are eligible to vote at such election and the first such election shall be held as soon as possible after the said section becomes applicable accept office.

 

(2) Not less than three months before the meeting is to be held, there shall be inserted in a newspaper published in the English language and in a newspaper published in an Indian language circulating in the place where the principal office of the company is situated and, if there are policy-holders of the company residing in a State other than that in which the principal office is situated, in a newspaper published in the English language and, if the company so desires, in a newspaper published in the principal language of the State, both being papers circulating in that State, a notice stating the number of directors to be elected at, and the time and place of, such meeting, which shall be fixed with a view to affording voters the fullest opportunities for attending, and informing policy-holders how to obtain admission to the meeting according to the manner hereinafter described. Such notice shall also set forth the qualifications which a person must possess in order to be eligible for election as a director, and shall invite applications from eligible persons prepared to accept office : Provided that. where a company prints on its policies the qualifications of elected directors as set forth in rule 13, and issues, at least six months before the election, to all existing policy-holders whose policies do not contain a statement of those qualifications as modified up to date, a notice setting forth such modified qualifications, the notice to be published in newspapers in accordance with this sub-rule need not set forth those qualifications: Provided further that a company may, in respect of one or more States instead of publishing the notice in newspapers, send it by post to every policy-holder residing therein.

 

(3) The applications from eligible persons prepared to accept office as elected directions of the company shall be sent by registered post to the principal office of the company so as to reach it not less than two months before the date of the meeting. Such applications shall be made in the English language or in a principal language of the State in which the principal office of the company is situated. If the number of such applicants does not exceed the number of directors to be elected, all such applicants shall be deemed to have been elected as directors and it shall not be necessary to hold the meeting of policy-holders as previously announced. The company shall in that event inform the policy-holders forthwith by notice inserted in newspapers as in sub-rule (2), or by notice sent individ- ually by post to those policy-holders who are eligible to vote and who apply for a certificate of admission under sub-rule (4) or by both methods of the names of persons elected as directors and of the cancellation of the meeting.

 

(3-A) An application sent under sub-rule (3) shall give the applicant's name and address and the numbers of and amounts of the sums insured by the policies by virtue of which he claims to be eligible for election.

 

(4) Every policy-holder who desires to attend the meeting shall apply to the company for a certificate of admission, such application to reach the company not less than two months before the date of the meeting, and the company on being satisfied that the applicant holds a policy of life insurance issued by the company not less than six months before the date of election shall issue a certificate at least one month before the date of the meeting. Such certificate shall, if applied for by post, be sent only to the address of the policy-holder or if applied for in person be delivered only on production of the relevant policy and shall, in any case. be accompanied by a statement of the names and addresses of the eligible persons prepared to accept office whose applications have been received by the company under sub-rule (3). A certificate of admission shall not be transferable.

 

(5) No person other than those whose presence is, in the opinion of the chairman necessary for the conduct of the meeting shall be admitted to the meeting unless he produces the certificate of admission granted to him under sub-rule (4).

 

(6) The meeting shall be presided over by the Chairman for the time being of the Board of Directors of the company, or in his absence by any director nominated by him, or in the absence of any such director by a Chairman elected by the policy-holders present at the meeting.

 

(7) Votes for the election of directors may be given at the meeting either personally or by proxy and in the manner hereinafter provided in this rule. The instrument appointing a proxy shall be in writing in Form IV-C under the hand of the appointer in favour of a policy-holder, and shall be presented at the principal office of the company not less than one month before the date of the meeting. No policy-holder shall appoint more than one proxy irrespective of policies he holds.

 

(8) Every policy-holder present at the meeting shall be given one voting paper on his own behalf irrespective of the number of policies he holds and one voting paper in respect of each proxy, if any, which he holds. The number of votes to be given on each voting paper shall not exceed the number of directors to be elected and not more than one vote shall be given on each voting paper to any one candidate: Provided that a policy-holder may, if he prefers, vote on one voting paper in respect of all the proxies he holds. In that event, the number of votes to be given on the voting paper shall not exceed the number of directors to be elected multiplied by the number of proxies held and the number of votes given to any one candidate on that paper shall not exceed the number of proxies held.

 

(8-A) If any policy-holder is a lunatic or an idiot, he may vote by his legal representative; and if any policy-holder is a minor he may vote by his legally appointed guardian, or any one of such guardians, if more than one.

 

(8-B) If a policy has been proposed for, and taken outjointly by, more than one person having insurable interest between them, each such person shall be entitled to vote as a holder of that policy.

 

(9) The votes shall be counted by the company's auditors if present in that capacity, or failing them by scrutineers appointed by the meeting, and working under the supervision of the Chairman. The result of the ballot shall be announced at the meeting and in the event of an equality of votes the election shall be decided by lot : Provided that if the counting of votes is not likely to be completed by 7 p.m. on the date of the meeting, the Chairman may lock, seal and take charge of the ballot box in the presence of the meeting and postpone the counting of votes by not more than 48 hours. The opening of the ballot box shall be done by the Chairman and the counting shall be carried out by the same persons as are specified in this sub-rule for this purpose within the said 48 hours after reasonable notice of the time and place where the counting is to take place has been given to the candidates but no others except those whose presence is necessary for the purpose of making the counting and the declaration. Each candidate or in his absence his autho- rized representative shall be allowed to be present to witness the opening and the counting. The result of the ballot shall then be communicated by notice published in newspapers as in sub-rule (2) or individually by post to all policy-holders who were present in person at the election or by both methods.

 

(10) For the purposes of sub-rule (3) of rule 15, a list shall be prepared of those of the unsuccessful candidates in whose favour any valid votes are cast in descending order of the number of such votes cast for each. If two or more such candidates have anequal number of such votes cast for them, they shall be placed in the list in the alphabetical order of their signatures in their applications under sub-rule (3). For the purposes of this sub-rule, no valid vote shall be deemed to be cast for a candidate if his own vote Is the only vote cast for him.

 

(10-A) No election shall be held at any meeting convened under these rules unless a quorum of policy-holders holding certificates issued under sub-rule (4) Is personally present at the time when the meeting proceeds to business. The number of such certificate holders who must personally be present to constitute a quorum shall be five times the number of directors to be elected at that meeting.

 

(10-B) If within half an hour from the time appointed for the meeting a quorum is not present, the meeting shall stand adjourned to the same day in the next week at the same time and place, and it at the adjourned meeting a quorum is not present within half an hour from the time appointed for the meeting, the policy-holders present and holding certificates issued under sub-rule (4) shall be a quorum.

 

(11) An election held in accordance with this rule shall not be invalid merely by reason of the accidental omission to send any notice or other document to, or the non-receipt of any notice or other document by, any policy-holder, or. of any other accidental irregularity or informality in the observance of the provisions of this rule.

 

Rule 15 Period of office of directors and filling of vacancies

 

(1) An election of directors under these rules (other than the first such election) shall be held not later than three years from the date of the last such election: Provided that an election for the holding of which the latest date otherwise permissible under this sub-rule is a date in the year 1943 may be postponed to a date not later than the 31st December, 1944.

 

(2) At every meeting of policy holders held in pursuance of sub-rule (1), all the directors elected or appointed under these rules shall retire, but any director so retiring shall, if he remains eligible under rule 13, be eligible for re-election.

 

(3) In the event of casual vacancy arising among the directors elected or appointed under these rules, the vacancy shall be filled by appointing the person highest in the list prepared under sub-rule (10) of rule 14, who remains eligible under rule 13 and is willing to act as a director.

 

(4) Any person in the said list who is not appointed in his turn under sub-rule (3), either because he has ceased to be eligible under rule 13 or because of his unwillingness to act shall be removed from the list.

 

(5) In the event of there being no person available for appointment under sub-rule (3), the casual vacancy shall be filled by the remaining directors (if not less than two in number) elected or appointed under these rules by appointing a person eligible under rule 13, or if such directors (or a majority of them) are unable to agree upon a person to be appointed, the appointment shall be decided by lot from amongst the persons eligible under rule 13 who have been considered for the appointment by the said remain- ing directors.

 

(6) In the event of there being only one or no such remaining director, the casual vacancy shall be filled by an election in accordance with these rules to be held not later than six months from the date on which the vacancy occurred, unless the company secures from the Central Govern- ment within two months from the said date an exemption for that purpose from the provisions of Section 48 of the Act under Cl. (b) of sub-section (3) thereof.

 

(7) Any person appointed or elected to fill a casual vacancy shall be subject to retirement at the same time as would have been the director in whose place he is appointed or elected.

 

(8) An election held in pursuance of sub-rule (6) to fill a casual vacancy shall not be reckoned as an election for the purpose of sub-rule (1).

 

(9) Nothing in the rule shall be deemed to affect the application of Regulations 78 and 79 in Table A of the First Schedule to the Indian Companies Act. 1913 (7 of 1913) 11. See now the Companies Act. 1956. , to directors elected or appointed other- wise than under these rules.

 

Rule 16 Licence fee for insurance agents and collection thereof

 

The fee for obtaining or renewing a licence to act as an insurance agent shall Rs. 22. Subs. by G.S.R. 1275. published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i), dated 23rd May. 1969. [ 15] provided that an additional of Rs. 22. Subs. by G.S.R. 1275. published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i), dated 23rd May. 1969. [7] shall be paid if the application for the renewal of the licence does not reach the Controller at least thirty days before the date on which the licence ceases to remain in force.

 

Rule 16A Issue of licences to insurance agents

 

An applicant who de- sires to obtain or renew a licence to act as an insurance agent shall proceed as follows:

(a) the applicant shall obtain from the Controller of Insurance a form of application for a licence which shall be,-

 

(i) in the case of an Individual, Form V, or Form V-A, if he applies for the grant of a licence for the first time or for the renewal of the licence held by him, as the case may be ;

(ii) in the case of a company or firm. Form V-P, or Form V-PA, if It applies for the grant of a licence for the first time or for the renewal of the licence held by it, as the case may be;

(iii) in the case of a co-operative society or a Panchayat, Form V-S, or Form V-SA, if it applies for the grant of a licence for the first time or for the renewal of the licence held by it, as the case may be:

11. Ins. by G.S.R. 1070. published in the Gazette of India. Pt. II, Sec. 3 (i) dated the 8th June, 1968. [(iv) in the case of a society registered under the Societies Registration Act, 1860 (21 of 1860). Form V-SS or Form V-SSA, if it applies for the grant of a licence for the first time or for the renewal of the licence held by him, as the case may be.]

 

(b) He shall then send to the Controller of Insurance the completed application form with the fee which shall be paid in the form of stamps to the value of 22. Subs. by G.S.R. 1275, published In the Gazette of India. Extraordinary, Pt. II, Sec. 3 (i). dated the 28th May. 1969. [Rs. 15 or Rs. 22], as the case may be, and the stamp shall be affixed to the application in the proper place.

 

(c) The Controller of Insurance or the officer authorized by him under sub-section (1) of Section 42 of the Act, shall issue a licence after taking all reasonable steps to satisfy himself that the application is in order and that the applicant is not disqualified from holding a licence. No application shall be considered by the Controller of Insurance unless the particulars in Form V-B, Form V-PB, 11. Ins. by G.S.R. 1070. published in the Gazette of India. Pt. II, Sec. 3 (i) dated the 8th June, 1968. [Form V-SB or Form V-SSB] as the case may be, have been filled in by the applicant. In the case of-

 

(i) an individual, the licence shall be in Form V-B;

(ii) a company or firm, shall be in Form V-PB;

(iii) a co-operative society or a Panchayat, it shall be in Form V-SB:

11. Ins. by G.S.R. 1070. published in the Gazette of India. Pt. II, Sec. 3 (i) dated the 8th June, 1968. [(iv) a society registered under the Societies Registration Act. 1860 (21 of 1860), it shall be in Form V-SSBI;

 

(d) No application for the renewal of licence will be accepted if it reaches the Controller on or after the date on which the licence ceases to be in force : Provided, however, that if an applicant desires that his application should be considered under the proviso to sub-section (3-A) of Section 42 of the Act, he shall forward along with such application a request to that effect, with stamps to the value of 11. Ins. by G.S.R. 1070. published in the Gazette of India. Pt. II, Sec. 3 (i) dated the 8th June, 1968. [RS. 75] affixed thereon and a statement of all the facts and particulars which are to be taken into consideration by the Controller for the purpose of examining whether undue hardship would be caused if no renewal of licence is granted : Provided further that the applicant, if required to do so by the Controller, shall furnish documentary proof of any of the particulars or facts mentioned in the statement referred to above.

 

Rule 16B Bona fide insurance agents for the purposes of Sec. 41

 

The conditions to be satisfied by an insurance agent to establish that he is a _ bona fide insurance agent employed by the insurer for the purposes of the proviso to sub-section (1) of Section 41 of the Act shall be the following, namely-

(a) He must have secured policies on six different lives excluding his own.

 

(b) He must have been an insurance agent continuously from the time of his soliciting or procuring the first policy on each of such six lives or proposing for the policy on his own life, whichever is earlier, till the time when the policies on those six lives and the policy on his own life have all been issued.

 

Rule 16C Fee for principal, chief and special agents

 

The fee for ob- taining or renewing a certificate to act as a principal agent or chief agent shall be Rs. 25 and the fee for obtaining or renewing a certificate to act as a special agent shall be Rs. 10 : Provided that an additional fee of Rs. 5 in the case of a principal agent or a chief agent, and Rs. 3 in the case of a special agent, shall be paid, if the application for renewal of the certificate reaches the Controller on or after the date on which the certificate ceases to be in force but within 12 months of the aforesaid date.

 

Rule 16D Issue of certificates to principal, chief and special agents

 

A person, who desires to obtain or renew a certificate to act as a principal agent, or chief agent or special agent, shall proceed as follows-

(a) He shall obtain from the Controller a form of application for a certificate which form shall be as prescribed in Form V-C or Form V-D. Form V-C shall be used when an applicant applies for a certificate for the first time, or for a fresh certificate, while Form V-D shall be used when an applicant applies for the renewal of certificate already held by him. No application for the renewal of a certificate will be accepted If it reaches the Controller after a period of twelve months from the date on which the certificate ceases to be in force.

 

(b) He shall then send to the Controller the completed application form with stamps to the value of Rs. 25 or Rs. 30 or Rs. 10 or Rs. 13, as the case may be, affixed thereon in the proper place.

 

(c) The Controller or the officer authorized by him under sub-sec- tion (1) of Section 42A of the Act shall, after taking all reasonable steps to satisfy himself that the application is in order and that the applicant is not disqualified from holding a certificate, issue a certificate in Form V-E.

 

Rule 16E Issue of duplicate licences and certificates

 

(a) A person to whom a licence or a certificate has been issued 11. Ins. by G.S.R. 1275, published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (V. dated the 28th May. 1969. [under Sec. 42 or Sec. 42-A of the Act] shall, if such licence or certificate has been lost, destroyed or mutilated, submit to the Controller an application requesting the issue of a duplicate licence or certificate with a fee of Re. I in the case of a licence. and Rs. 2 in the case of a certificate, paid in the form of stamp duly affixed thereon and with a declaration giving full details regarding the issue and loss, destruction or mutilation of the licence or certificate, and the mutilated pieces, if any, shall be returned to the Controller with the said application.

 

(b) The Controller, after satisfying himself that the original licence or certificate has been lost, destroyed, or mutilated, issue a duplicate licence In Form V-B or Form V-PB or Form V-SB 11. Ins.by G.S.R. 1070. published in the Gazette of India. Pt. II. Sec. 3(i). dated the 8th June, 1968. [or Form V-SSB] or a certificate in Form V-E, as the case may be. with an endorsement thereon that It is a duplicate.

 

Rule 16F Description of stamp

 

Any fee specified In rules 16, 16-A, 16-C,16-D and 16-E shall be paid in the form of "Government of India Insurance" stamps available from a Government treasury.

 

Rule 16G Allowance for unused stamps

 

.-Where an applicant for licence or a certificate has inadvertently used 'Government of India Insurance' stamp of a greater value than is necessary or where no licence or certificate in respect of an application bearing such stamp has been issued, refund may be made of the excess of the necessary fee or of the value of the stamp. as the case may be, on such application.

 

Rule 16H Cancellation of licences or certificates

 

Where the Control- ler cancels the licence of an insurance agent under sub-section (5) of Section 42 or the certificate of a principal or chief or special agent under sub- section (4) of Section 42A. he shall-

(a) inform all the officers authorized by him under sub-section (1) of Section 42 or Section 42A that the licence or the certificate, as the case may be, has been cancelled:

 

(b) require the person concerned to return the licence or certificate Issued to him; and

 

(c) cause the fact of cancellation to be published in the Gazette of India and in such State Gazette or Gazettes as he deems fit.

 

Rule 17 Declaration as to the nature of ownership of shares

 

.-The declaration to be furnished by a transferee in pursuance of Cl. (b) (i) of sub-section (4) of Section 6A of the Act to a public company limited by shares having its registered office in the States and carrying on 22. Subs. by G.S.R. 1275. published In the Gazette of India. Extraordinary. Pt. II, Sec. 3 (i), dated 28th May. 1969. [any class of I insurance business shall be in Form V-F.

 

Rule 17A Declaration as to beneficial interest in shares

 

The decla- ration to be made in pursuance of sub-section (5) of Section 6A of the Act to a public company limited by shares having Its registered office in the States and carrying on life-insurance business by a person who has any interest In any of its shares standing in the name of another person shall be in Form V-G.

 

Rule 17AA Form for declaration

 

[. .-The declaration to be made in pur- suance of sub-section (5) of Section 6A of the Act to a public company limited by shares having its registered office in India and carrying on general insurance business by a person who has any interest In any of its shares standing In the name of another person shall be in Form V-GG].

 

Rule 17B Disposal of shares by Administrator-General

 

As soon as the Administrator-General of a State has taken charge of any shares of a public company vesting in him under sub-sections (8) of Section 6A of the Act, he shall furnish full details of the shares to the Controller and he shall try, as soon as may be, to sell the shares, whether as a whole or in part or whether in the open market or by private sale, at a price not lower than the price fixed by the Controller who may vary the price fixed from time to time. The proceeds shall be handed over to such person as in the opinion of the Administrator-General, is by law entitled thereto.

 

CHAPTER 7 Limitation of Expenses of Management

 

Rule 17C Statement of the bases of premiums

 

(1) The statement of the bases of premiums under sub-section (1) of Section 40B of the Act shall be In Form V-H.

 

(2) In respect of premiums currently used by an insurer at the commencement of the Insurance (Amendment) Act, 1950, the statement of the bases of premiums certified by an actuary shall be furnished to the Controller within six months from such commencement.

 

(3) A statement on the bases of premiums to be newly used after such commencement certified by an actuary shall be furnished to the Controller before such premiums are offered by the insurer to prospective policy-hold- ers.

 

Rule 17D Limitation of expenses of management in life-insurance business

 

After the 31st day of December, 1950, no Insurer shall, in respect of the life-insurance business transacted by him in India, spend as expenses of management in any calendar year an amount exceeding the aggregate sum of--

(i) five per cent. of all premiums received during the year on policies granting an immediate annuity or a deferred annuity in consideration of a single premium, and five per cent. of all premiums received on other single premium policies during the year;

 

(ii) ten per cent. of all first year's premiums and four per cent. of all renewal premiums, received during the year on policies granting deferred annuity in consideration of more than one premium;

 

(iii) one-twentieth of one per cent. of the average of the total sums assured by policies on which no further premiums are payable (less reinsurances) at the beginning and end of the year;

 

(iv) one per cent. of all annuities paid during the year;

 

(v) an amount computed on the basis of the percentages for the time being appropriate to the duration, of the Insurer's life-insurance business specified in the following table, namely :

 

Explanation I-In this ule, "business in force" means in relation to any expen incurred, the total sum assured, with bonuses, without taking into acco re-insurances ceded or accepted, by an insurer in respect of the whole of his life-insurance business on the last working day of the year preceding the calendar year in which the expense is incurred.

Explanation II.-The duration of an insurer's life-insurance business shall be reckoned from the beginning of the calendar year of commencement of the business if the date of commencement is in the first half of the year and from the end of the calendar year of such commencement If the date of commencement is in the second half of the year.

 

Rule 17E Limitation of expenses of management in general insurance business

 

(1) After the 31st day of December, 1949, no insurer shall, in respect of general insurance business transacted by him in India other than marine insurance business, spend in any calendar year as expenses of management, including commission or remuneration for procuring busi- ness an amount exceeding the sum of-

 

(i) the amount of commission or other remuneration paid to insurance agents and principal agents in respect of that business transacted in the year but 11. Subs. by G.S.R. 1275, published in the Gazette of India. Extraordinary, Pt. II, Sec. 3 (i). dated 28th May, 1969 (w.e.f. 1st June, 1969). [not exceeding In respect of fire-insurance business 5 per cent. and in respect of miscellaneous insurance business 10 per cent.] of the gross premium income written direct in India in respect of that business in the year; and

(ii) an amount computed on the bases of percentages appropriate to the various parts of total gross premium income written direct in India during the year :

 

(2) After the 31st day of December, 1949, no insurer shall, in respect of marine Insurance business transacted by him in India, spend in any calendar year as expenses of management, including commission or remu- neration for procuring business an amount exceeding the sum of-

 

(i) the amount of commission or other remuneration paid to insurance agents and principal agents in respect of that business transacted in the year but 11. Subs. by G.S.R. 1275, published in the Gazette of India. Extraordinary, Pt. II, Sec. 3 (i). dated 28th May, 1969 (w.e.f. 1st June, 1969). [not exceeding in amount five per cent.] of the gross premium income written direct in India in respect of that business in the year; and

(ii) an amount computed on the basis of percentages appropriate to the various parts of his total gross premium income written direct in India during the year.

 _________________

(3) Notwithstanding anything contained in sub-rules (1) and (2), an insurer may, during the first ten years of his general insurance business, spend in any calendar year as expenses of management, including commis- sion or remuneration for procuring business an additional amount, in respect of his general insurance business, not exceeding-

 

(i) during the first three years, the interest earned on the paid-up capital in that year:

(ii) during the second period of three years, an amount equal to 10 per cent. of the gross premium income written direct in India, or to the interest earned on the paid-up capital in that year, whichever is less;

(iii) during the seventh and eighth years an amount equal to 5 per cent. of the gross premium income written direct In India, or three- fourths of the interest earned on the paid-up capital In that year whichever is less: Provided that nothing in this clause shall apply to regulate the expenses of an insurer in any such year if his gross premium income in that year exceeds twenty-five lakhs of rupees;

(iv) during the ninth and tenth years an amount equal to 3 per cent. of the gross premium income written direct in India, or to half of the interest earned on the paid-up capital in that year whichever is less: Provided that nothing in this clause shall apply to regulate the expenses of an insurer In any such year If his gross premium income in that year exceeds twenty-five lakhs of rupees.

Explanation.- 11. Omitted by S.O. 984, dated 21st March, 1978. published In the Gazette of India. Pt. II, Sec. 3 (ii), dated 8th April, 1978 (w.e.f. 4th August. 1978). [ * * * *]

 

Rule 17F Head Office expenses

 

22. Renumbered by G.S.R. 1257. published in the Gazette of India, Extraordinary. Pt. II, Sec. 3 (i), dated 28th May, 1969. [(1)] The share of the Head Office expenses in the case of an insurer having his principal place of business outside India for the purposes of Section 40-B and Section 40C of the Act shall not be less than-

 

(i) in respect of life-insurance business 10 per cent. of the first year's premium asshown in the revenue account, and I per cent. of the renewal premiums as shown in the revenue account in respect of that business transacted in India during the year; and

(ii) in respect of general insurance business 5 per cent. of the gross premium income written direct In India during the year in respect of that business.

 

33. Ins. by Renumbered by G.S.R. 1257. published in the Gazette of India, Extraordinary. Pt. II, Sec. 3 (i), dated 28th May, 1969. [(2) The share of the Head Office expenses in the case of an insurer having his principal place of business in India for the purposes of sub- clause (i) of Cl. (b) of the explanation to Sec. 40-C of the Act, shall not exceed 5 per cent. of the gross premium income written direct outside India during the year.]

 

Rule 17FA Principal office expenses

 

[. .-For the purposes of sub-clause (ii) of Cl. (b) of the Explanation to Section 40C of the Act, the share of the expenses in the case of an insurer having his principal place of business outside India in respect of general-insurance business transacted by him outside India through his office in India shall not exceed 5 per cent. of the gross premium Income written direct outside India through his office in India during the year].

 

Rule 17FB Calculation of proper share of managerial expenses

 

[. .- For the purposes of sub-clause (iii) of Cl. (b) of the explanation to Sec. 40-C of the Act the proper share of managerial expenses, that may be excluded in computing the expenses of management in India, shall be computed in the following manner, namely:

(a) in the case of an insurer having his principal place of business in India, the same proportion of the total remuneration received by the Chief Executive Officer of the insurer (bywhatever name called) as 15 per cent. of the paid-up capital of the insurer bears to the total gross premium written direct in India by the insurer:

 

(b) in the case of an insurer having his principal place of business outside India, nil.]

 

CHAPTER 8 Contravention of Limitation of Expenses and Tariff Regulations

 

Rule 17G Action against Extravagant Life Insurers

 

(1) If It appears from the report of an actuarial valuation under sub-section (3) of Section 64K of the Act read with the statutory returns relating to accounts that the insurer concerned is insolvent, the Controller may cancel the registration of such insurer and request the Executive Committee of the Life Insurance Council to consider whether in the circumstances of the case it Is possible to have the business of the insurer reconstructed or whether some other insurer is willing to take over the business.

 

(2) When such a request is received, the Executive Committee of the Life Insurance Council shall meet not later than one month of the receipt of such request to consider the matter and within seven days of such meeting shall communicate Its decision to the Controller.

 

(3) If the Executive Committee is unable to meet within the time specified in sub-rule (2) or Is unable to suggest any practical steps for the reconstruction or transfer, the Controller may, as soon as may be, apply to the Court for the winding up of that insurer.

 

(4) If the valuation under sub-section (3) of Section 64K does not disclose the insurer to be insolvent, the actuary making the investigation shall append to his report a statement whether an encroachment on the bonus loadings contained in the premium has occurred and whether such en- croachment is due either partly or wholly to heavy expenses incurred by the insurer after giving credit for any profits made In other directions. The Controller may request the Executive Committee of the Life Insurance Council for advice so that such encroachment may neither continue nor

 

_______________________

(5) On receipt of the recommendations referred to in sub-rule (3) or sub-rule (4), the Controller may issue such directions to the insurer concerned as he deems fit and if the Insurer complies with such directions, the cancelled registration may be revived wherever possible or where it is not so possible, the insurer may be registered afresh.

 

(6) If the directions are not complied with, the Controller may apply to the Court for the winding up of the insurer.

 

Rule 17H Action against Extravagant General Insurers

 

(1) In pursu- ance of sub-section (3) of Section 64M of the Act the Controller may-

 

(a) cancel the registration of the insurer under the Act, and

(b) request the Executive Committee of the General Insurance Council to consider practical steps for the reconstruction of the insurer concerned or for transferring its business to some other insurer.

 

(2) When such a request as Is referred to in the preceding sub-rule is received by the Executive Committee of the General Insurance Council, it shall meet not later than one month of the receipt of such request to consider the request and within seven days of such meeting.shall commu- nicate its decision to the Controller.

 

(3) The Controller may, after considering the recommendations of the Executive Committee in this behalf apply to the Court for the winding up of the insurer concerned if he thinks fit. cancellation took effect, should have applied to such cancellation of the registration. It was urged that as the excess in expenses of management would already have taken place it would not be possible for an insurer to rectify that defect for the past year and, therefore, the provisions for reviving the registration cannot ever apply to an insurer whose registration has been cancelled under Section 64M(3) read with rule 17H. The contention, however, has no force. In many cases of revival of registration covered by sub-section (5- C) of Section 3 It is not possible to undo the past default. The directions to be complied with by the insurer in connection with revival of the registration may be, therefore, for the future. There is no reason why registration of insurer cancelled in pursuance of Section 64M(3) of the Act may not in a suitable case be revived at the direction of the Controller. It appears that rule 17H of the Insurance Rules, 1939, does not confer on the Controller of Insurance the power to cancel the registration of an insurer indepen- dently of Section 3(4)(f) of the Act. The correct interpretation of Cl. (a) of that rule seems to be that the certificate of registration granted to an insurer may be cancelled by the Controller in pursuance of sub-section (3) of Section 64M under the Act, from which it follows that cancellation of the registra- tion of the insurer is to be effected under the provisions relating to cancellation of registration as embodied in the Act.

 

Rule 17I 17I

 

11. Omitted by G.S.R. 1275. published in the Gazette of India, Extraordinary. Pt. II. Sec. 3 (i). dated 28th May. 1969. [* * * *]

 

Rule 17J 17J

 

11. Omitted by G.S.R. 1275. published in the Gazette of India, Extraordinary. Pt. II. Sec. 3 (i). dated 28th May. 1969. [* * * *]

 

Rule 17K 17K

 

11. Omitted by G.S.R. 1275. published in the Gazette of India, Extraordinary. Pt. II. Sec. 3 (i). dated 28th May. 1969. [* * * *]

 

CHAPTER 9 Provident Societies

 

Rule 18 Transaction of bond Investment business

 

(1) Provident soci- eties which immediately before the commencement of the Act were trans- acting bond investment business may continue to receive premiums or contributions and to make payments in respect of such business but shall not undertake any new business of that class.

 

(2) For the purpose of sub-rule (1), "bond investment business" means the business of effecting contracts by the issue of bonds, endowment certificates or other documents, whereby in return for one or more premi- ums paid to the provident society, the payment is insured of a sum or series of sums, at a future date or dates, whether fixed before hand or determined by chance.

 

Rule 19 Rules of Provident Societies

 

(1) Every provident society shall in addition to the matter specified in Cls. (a) to (o) of sub-section (1) of Section 74 of the Act set forth in its rules-

 

(i) that where a policy Is applied for on the life of a person other than the person paying the premiums on such policy, the name of the person paying the premiums and his relationship to the life insured shall be inserted in the policy, the policy shall not be issued till the life insured (or if he be not of age his legal guardian) has given his consent in writing to the insurance being effected, and the amount secured shall not be excessive having regard to the interest of the person paying the premiums in the life insured:

(ii) the disqualifications, if any, due to change of occupation, residence, or other specified cause;

(iii) the terms upon which any policy may be kept in force for a reduced benefit without liability to payment of further premiums;

(iv) a statement to the effect that all policies issued after the commencement of the Act shall have clearly set out therein the matters referred to in Cls. (f), (g), (h), (i) and (j) of sub-section (1) of Section 74 of the Act and those referred to in CIs. (ii) and (iii) above;

(v) the method of voting at the meeting of the managing body and the number constituting a quorum;

(vi) a statement that no dividend shall be declared except as a result of a valuation under sub-section (1) of Section 81;

(vii) a statement that no bonus other than an interim bonus shall be declared except as a result of a valuation made in accordance with sub-section (1) of Section 81, that the rate of such bonus shall not exceed that recommended by the actuary, and that no interim bonus shall be declared at a rate exceeding that approved by an actuary; and

(viii) a statement that the paid-up capital shall not be treated as part of the society's assets for the purpose of showing a divisible surplus at the time of any investigation made under sub-section (1) of Section 81, and that where assets of the nature of organisation or preliminary expenses exceed the paid-up capital the fund shall be diminished by the amount of such excess for the purpose of ascertain- ing the financial condition of the society.

 

(2) All rules made by a Local or Provincial Government under Section 24 of the Provident Insurance Societies Act, 1912, are hereby repealed.

 

Rule 19A 19A

 

. Every provident society shall, commencing from a date not later than the 1st January, 1943, maintain at its principal office in the State the following registers in the forms specified below or as near thereto as possible provided the information to be shown is not reduced thereby in respect of all Its transactions subsisting on or after that date, namely,-

(i) A register of members (but not including membership merely by virtue of being policy-holder), proprietors and sharehold- ers.............in Form VI-A.

 

(ii) A register of directors, manager, secretary and other offi- cers............in Form VI-B.

 

(iii) A proposal register.........in Form VI-C:

 

(iv) A register of policies....................in Form VI-D in respect of all policies issued from a date not later than 1st January, 1943, (Separate registers shall be maintained for each contingency specified in or prescribed under sub-section (1) of Section 65 of the Act in respect of which the society carries on business).

 

(v) A premium register..... ..in Form VI-E.

 

(vi) A lapse register showing the details in respect of each policy which is treated by the society as having lapsed...................in Form VI-F.

 

(vii) A register of claims not including annuities.............in Form VI-G.

 

(viii) A register of annuity payments..........in Form VI-H.

 

(ix) A register of agents.....in Form VIII : Provided that-

 

(a) any register printed after this rule is made and purporting to contain the information specified in any of the registers prescribed by this rule shall be in the Form prescribed therefor;

(b) if any of the registers required to be kept in accordance with Section 79 of the Act, as it stood before the commencement of the Insurance (Amendment) Act, 1941, is not kept, or if any of the registers so kept is exhausted, the society shall maintain forthwith the corres- ponding register or registers prescribed by this rule; if no registers are maintained corresponding to the registers prescribed by Cls. (iii), (v) and (vi) of this rule, the society shall, commencing from a date not later than 1st April, 1942, maintain the registers prescribed by these clauses;

(d) it shall not be necessary to show the name of the life insured in addition to the policy-number in the register in Form Vl-D, Vl-E, Vl-F, Vl-G or Vl-H, the register concerned is prepared by mechanical means.

 

Rule 20 Forms of accounts and statements

 

(1) The revenue account and balance-sheet of a provident society shall be prepared in accordance with Forms VII and VIII, respectively, and in their completion regard shall be had to the notes appended thereto.

 

(2) If it so desires a provident society may submit a profit and loss account in addition to a revenue account and balance-sheet.

 

(3) The statements required under Cls. (a) (i) and (b) of sub-section (2) of Section 80 of the Act shall be prepared in accordance with Forms IX and X, respectively.

 

Rule 21 Actuarialreports

 

(1) Whenever an investigation is made into the financial condition of a provident society under Section 81 of the Act the report of the actuary-

 

(a) shall, so far as practicable, be prepared in accordance with the regulations, and requirements contained in the Fourth Schedule to the Act except that it shall not be necessary to supply a consolidated revenue account in Form G, a statement in Form DDD of additions to and deductions from policies and a statement In Form DDDD of particulars of policies forfeited or lapsed;

(b) shall contain in the appropriate places the information re- quired in CIs. (a) to (e) of sub-section (2) of Section 81;

(c) shall state the proportion of the renewal premium income spent in payment of commission and other expenses in each year during the period since the last investigation after allowing as the cost of the new business of the year, 7½ per cent. of single premiums and 90 per cent. of first year's premiums, falling due in the year after deduction of those unpaid under policies allowed to lapse in the year:

(d) shall state whether the actuary has taken steps to prevent the policy reserve values from being less than the minimum surrender values;

(e) shall have appended to it a certificate as prescribed in sub- section (2) of Section 81: and

(f) shall contain a statement that in no case where a policy has been written off as a lapse does there exist any further liability actual or contingent.

 

(2) Where an investigation into the financial condition of a provident society is made as at a date other than the expiration of the year of account, the accounts for the period since the expiration of the last year of account and the balance-sheet as at the date at which the Investigation is made shall be prepared and audited in the manner provided by the Act and these rules.

 

Rule 22 Signatures on returns furnished by provident societies

 

Every return furnished to the Controller of Insurance under sub-section (2) of Section 82 of the Act shall be signed in accordance with the provisions of sub-section (2) of Section 15 of the Act.

 

Rule 23 Notices under Sec. 92 (6)

 

The notices referred to in sub-sec- tion (6) of Section 92 of the Act shall be sent by post to the last known addresses of the persons concerned as recorded in the society's books and certificates of posting shall be obtained therefor : Provided that the liquidator may at his discretion send all or any of the notices by registered post.

 

Rule 23A Security from liquidator

 

Where a liquidator is appointed by the Controller under the provisions of sub-section (1) of Section 90 of the Act, the Controller may demand from the liquidator such security and in such form as he may determine.

 

CHAPTER 10 Fees

 

Rule 24 Fees under the Act and the manner of collection

 

(1) The fee for registration under Section 3 of the Act shall be five hundred rupees for each of the following classes of insurance business done or to be done by the insurer, namely:

 

(i) life insurance;

(ii) fire Insurance;

(iii) marine insurance;

(iv) miscellaneous insurance:

 

(1-A) The fee for issue of a duplicate certificate of registration under sub-section (7) of Section 3 shall be ten rupees.

 

11. Subs. by G.S.R. 1275, published in the Gazette of India, Extraordinary, Pt. II, Sec. 3 (i). dated 28th May. 1969. [(2) The fee for renewal of registration under Section 3A of the Act for each class of insurance business for which the Insurer is registered shall be-

 

(a) in the case of an insurer not carrying on solely re-insurance, business, one-fourth of one per cent. of the total gross premium written direct in India in that class of insurance business during the year preceding the year in which the application for renewal of registration is required to be made by insurer, (the amount of fee so arrived at, if not an Integral number of rupees, being rounded off to the next lower integral rupee), or five hundred rupees whichever is greater;

(b) in the case of an insurer carrying on solely re-insurance business one-fourth of one per cent. of the total premiums in respect of facultative re-insurances accepted by the Insurer in that class of insurance business during the year preceding the year in which the application for renewal of registration is required to be made (the amount of fees so arrived at. If not an integral number of rupees, being rounded off to the next lower integral rupee) or five hundred rupees whichever is greater).

 

(3) The fee for registration under Section 70 the Act shall be two hundred rupees.

 

(3-A) The fee for issue of duplicate certificate of registration under sub-section (7) of Section 70 shall be three rupees.

 

(4) The fee for renewal of registration under Section 70A of the Act shall be fifty rupees where the total gross premium income including annuity considerations, admission fees and other fees, if any, as shown in the revenue account last furnished under the Act was less than fifty thousand rupees per annum or one hundred rupees in all other cases.

 

(5) The fee payable for obtaining copies under Section 119 of the Act shall be two rupees for each fulloscap page or part of a page of the copy, the copy being prepared with reasonable margin and spacing.

 

(6) Any fee specified in this rule or payable under sub-section (1) of Section 20 of the Act shall be paid into the Bank or where there is no office of 11. Subs. by G.S.R. 1604, dated 22nd November. 1962, published in the Gazette of India, Pt. II. Sec. 3 (i). dated 1st December. 1962. [''XXI-Miscel- laneous Department-Fees realised under the Insurance Act, 1938], and the receipt shall be sent along with the relevant application.

 

Rule 24A Fees payable on referring disputed claims to Controller

 

(1) The fee payable at the time of referring to the Controller a dispute relating to the settlement of a claim on a policy of life insurance under sub-section (1) of Section 47A of the Act is rupees ten or one rupee for each hundred rupees or part thereof of the amount of the claim (including any profit or bonus), whichever is greater.

 

(2) Any fee specified in this rule shall be paid in the form of "Govern- ment of India Insurance" stamps available on payment from a Government Treasury and the stamp shall be affixed on the application or letter referring the dispute to the Controller and superscribed with the signature of the claimant.

 

(3) Where in respect of any fee specified in this rule "Government of India Insurance" stamps of a greater value than is necessary have been inadvertently used or where the application or letter referring a dispute to the Controller bearing such stamps is not entertained by the Controller under Section 47A of the Act for any reason, refund may be made of the excess over the necessary fee, or of the value of the stamps affixed, as the case may be.

 

Rule 24B Fees payable to the Councils

 

(1) The fees payable by amem- ber or associate member who Is an insurer carrying on life-insurance business to the Life Insurance Council in each calendar year shall be fifty rupees for every lakh of rupees or part thereof of his gross direct premium income from life-insurance business In India in the last but one preceding calendar year subject to a maximum of one thousand and two hundred and fifty rupees.

 

(2) The fees payable by a member or associate member who is an insurer carrying on general insurance business to the General Insurance Council in each calendar year shall be twenty-five rupees for every ten thousand rupees or part thereof of his gross direct premium Income in India in general Insurance business in the last but one preceding calendar year.

 

(3) Any fee specified in this rule shall be paid by means of a crossed bank draft on the Simla Branch of the Imperial Bank of India drawn in favour of the Secretary of the Council concerned.

 

CHAPTER 11 Miscellaneous

 

Rule 25 Additional particulars to be given by actuary

 

An actuary in- vestigating the financial condition of an insurer shall. in addition to the reports, statements and abstracts, required to be furnished under Section 13 or Cl. (c) of sub-section (2) of Section 16 of the Act, furnish statements with regard to the following matters :

(a) whether he has taken steps to prevent the policy reserve values from being less than the minimum surrender values;

 

(b) the proportion of renewal premium income spent in payment of commission and other expenses in each year during the period since the last investigation after allowing, as the cost of the new business of the year, seven and a half per cent. of single premiums including consideration for annuities granted and seven and a half per cent. for each year of the maximum premiums-paying period, but not exceeding ninety per cent. in all, of first year's premium falling due in the year after deduction of those unpaid under policies allowed to lapse in the year: Provided that in respect of any year or accounting period ending on a date earlier than the 31st day of December, 1946, the allowance out of first year's premiums as the cost of the new business shall be ninety per cent. irrespective of the premium-paying period.

 

Explanation 1.-Where the maximum premiums-paying period in- cludes a fraction of a year, such fraction shall be ignored.

Explanation 2.-In the case of a whole life policy with premium payable throughout the duration of the policy the maximum premiums-paying period shall be assumed to be twelve years.

 

Rule 25A

 

The conditions with which a Mutual Insurance Company shall comply for the purposes of sub-section (2) of Section 4 are that such company shall confine its activities to members of any one profession only or to employees under one employer only and that if any question arises whether or not a particular group of persons belongs to any one profession or is employed under any one employer, the Controller of Insurance shall decide the question and his decision shall be final.

 

Rule 26 Form of declaration under Sec. 16 (2) (d)

 

The declaration re- ferred to in Cl. (d) of sub-section (2) of Section 16 of the Act shall be in Form XI and one copy of the declaration shall be signed in the manner described in sub-section (2) of Section 15 of the Act.

 

Rule 27 Returns in respect of dividing insurance business

 

Every in- surer, so long as he has policies on the dividing principal remaining in force, shall submit all returns required under the Act or these rules in respect of such business separately from the corresponding returns in respect of other insurance business, and along with the revenue account shall also furnish In respect of such business returns In Forms XII, XIII and XIV, respectively. Four copies shall be submitted of each of these three last-mentioned returns, of which one of each shall be signed in the manner described in sub-section (2) of Section 15 of the Act.

 

Rule 28

 

The sub-clauses of miscellaneous insurance business in respect of each of which a separate account of receipts and payments Is to be kept as required under sub-section (1) of Section 10 of the Act on and after the 1st January, 1943, shall be-

(1) Capital Redemption insurance business.

 

(2) Continuous Disability insurance business.

 

(3) Employer's Liability insurance business.

 

(4) The business of insuring the payment on the happening of each of the contingencies (a) birth, (b) marriage, and (c) failure of issue, each contingency to constitute a separate business unless the contin- gencies are combined in a single contract, but not being business comprising insurance contracts which are terminable by the insurer at intervals not exceeding twelve months and under which if a claim arises, the insurer's liability to pay benefit ceases within one year from the date on which the claim arose.

 

Rule 29

 

For the purpose of the Act, the business of an insurer shall be deemed to be transacted-

(a) in India, if the insurance business, wherever effected, relates to any property situate in India or to any vessel or aircraft registered in India:

 

(b) in India or the States, according as the premiums in respect of those transactions are ordinarily paid in India or the States, as the case may be: Provided that if any question arises whether any premiums are ordi- narily paid inside or outside the States of India, the Controller shall decide the question and his decision shall be final.

 

Rule 30 Activities of insurers

 

(1) An insurer may do all acts necessary for making investments permissible under the Act for the protection of such investments and for the realisation of such investments and may in that connection take over and administer mortgaged property until a suitable occasion arises for its disposal.

 

(2) An Insurer carrying on -general insurance business may act as the manager in charge of a branch office of another Insurer in respect of general insurance business.

 

Rule 31 Statement of emoluments

 

The statement of emoluments ex- ceeding Rs. 5,000 to be furnished under sub-section (2) of Section 31 shall be in Form XV.

 

Rule 32 Payment where nominee is a minor'

 

(1) The holder of a policy of life insurance may, in any case where the nominee is a minor, appoint any person to receive the money secured by the policy In the event of his death during the minority of the nominee, communicate such appointment to the insurer concerned by forwarding the documents relating to such appointment which should be endorsed by the appointee to show his consent thereto.

 

(2) Any such appointment in order to be effectual shall unless incor- porated in the text of the policy itself, be made by an endorsement on the policy.

 

(3) Any such appointment may at any time before the policy matures for payment be cancelled or changed by an endorsement or further endorse- ment, as the case may be, and communicated to the Insurer.

 

Rule 33 Summary of balance-sheet and revenue account

 

The sum- mary to be published in pursuance of Section 100 of the Act shall be in Form XVI.

 

CHAPTER 12 [Re-insurance] Advisory Committee

 

The sum- mary to be published in pursuance of Section 100 of the Act shall be in Form XVI.

12 [Re-insurance] Advisory Committee

11. Ins. by G.S. R. 681. dated 10th May. 1961. published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i). dated 10th May. 1961.

 

Rule 34 Term of office

 

The term of office of the non-official members of the Advisory Committee constituted under sub-section (1) of Section 101B of the Act (hereafter in this rule and rule 35 to rule 38 referred to as the Committee) shall be two years from the date of their nomination. The official members of the Committee shall hold office during the pleasure of the Central Government. All outgoing members shall be eligible for re-nomina- tion.

 

Rule 35 Resignation and filling of casual vacancies

 

(1) Any member of the Committee may resign his membership of the Committee by notice In writing addressed to the Secretary to the Government of India, Ministry of Finance 22. Subs. by G.S.R. 45. dated 18th December. 1965. published in the Gazette of India. Pt. II. Sec. 3 (i). dated 8th January. 1966. [Department of Company Affairs and Insurance] to that effect and such resignation shall take effect from the date on which it is accepted by the Central Government.

 

(2) Casual vacancies in the Committee whether caused by resignation, death or otherwise, shall be filled by nomination by the Central Government and any person, other than an official, so nominated to fill the vacancy shall hold office until the expiry of the term of office of the member in whose place he is nominated.

 

Rule 36 Secretary

 

The Central Government may appoint a secretary to the Committee for the purpose of performing such functions as are assigned to him by these rules or as may be assigned to him by the Chairman of the Committee.

 

Rule 37 Procedure for the conduct of business, etc. of the Com- mittee

 

(1) Meetings of the Committee.-Meetings of the Committee may be held at such places and at such times as may be decided by the Chairman of the Committee.

 

(2) Notice of meeting.-Notice of any meeting of the Committee shall be sent by the Secretary of the Committee to every member at least seven days before the date of the meeting. The notice shall state briefly the business to be transacted at the meeting.

 

(3) Quorum for the meeting.-Three members shall constitute quorum for a meeting.

 

(4) Adjournment of a meeting.-If the requisite quorum is not available within half an hour of the appointed time for a meeting, the Chairman or in his absence any person nominated by him under sub-rule (5) may adjourn the meeting to such date and time as he may decide.

 

(5) Chairman to preside at meeting.-The Chairman shall preside at all meetings of the Committee. If the Chairman is unable to attend, he may nominate a member of the Committee to preside in his absence.

 

(6) Decision at a meeting.-All matters required to be decided by the Committee shall be decided by the majority of the votes of the members present. The voting shall be by show of hands.

 

(7) Decision by circulation.-Any matter for consideration of the Com- mittee may at the discretion of the Chairman bedecided by circulation among the members as an alternative to convening a meeting for the purpose: Provided that the decision arrived at shall not be valid unless at least three members express an opinion on that matter.

 

(8) Minutes.-The minutes of the proceedings of every meeting shall be circulated to the members of the Committee. The minutes shall be con- firmed at the next meeting of the Committee and shall thereafter be recorded in a Minute Book and signed by the Chairman

 

Rule 38 Allowances payable to members of the Advisory Committee

 

(1) Every non-official member shall be entitled for attending meetings of the Committee to travelling and other allowances as under :

 

(i) Travelling allowance for journeys from the usual place of residence or the place of commencement of the journey to the place of the meeting and the return journey to the place of commencement of the journey or the usual place of residence, whichever is shorter in each case, at the maximum rate for the time being admissible to a Central Government servant of the first grade. Subject to the foregoing, the members shall be entitled to travel either by air-conditioned class or by air.

(ii) Daily allowance at the maximum rate for the time being admissible to Central Government servants of the first grade at the place of the meeting for the days on which the meeting is held and in respect of one day previous to the commencement of the meeting and one day after the meeting if the member actually arrives on or before and leave on or after the respective days.

 

(2) The travelling allowances and daily allowances of an official member shall be governed by the rules for the time being applicable to him for journeys performed on official duty.

 

Rule 39 Minimum information to be maintained and the checks and other verifications to be adopted

 

(1) Every Insurer shall maintain at the principal place of business of the Insurer in India the items of Informa- tion specified in sub-rules (2) and (3) : Provided that where It Is not convenient or practicable to maintain any item of information in full detail at such principal office It may be maintained at the branches or other offices in such way, however, that each such

 

(2) The following items of information shall be maintained in respect of each class or sub-class of insurance business, namely :

 

(i) a record of cover-notes issued specifying the identification number, name of party, dates of commencement and where applicable expiry of risk, type of cover granted or cross-reference to the relevant policy and the amount of premium or other money received : Provided that if duplicate copies of cover-notes are maintained in serial order, the requirement of the provision shall be deemed to have been complied with,-

(ii) a record of policies, which should be serially numbered listing all policies issued, entered in chronological order, stating the number of policy, dates of commencement and expiry of risk, name of the insured, premium received, cross-reference to the relevant Bank Guar- antee or deposit and the nature of risk granted, cross-reference to any cover-note Issued prior to the issue of the policy and cross-reference to any endorsement passed subsequent to the issue of the policy : Provided that a serially filed collection of duplicate copies of policies issued shall be deemed sufficient compliance with the requirement, if they are serially numbered and all the relevant information specified in this clause are entered therein;

(iii) a record of premium showing according to chronological order of receipt of premiums received, date of receipt, the amount, and name of party from whom received and with cross-reference to policy number or to other document showing the occasion for the payment of such premium: Provided that if this information is readily available otherwise from the records, a separate record under this head need not be maintained;

(iv) a record of endorsements mentioning the policy number to which attached, dates of commencement and expiry of the endorse- ment, the type of endorsement and the additional premium charged or refund premium due and cross-reference to the premium register; provided that serially filed duplicate copies of endorsements shall be deemed to comply with this requirement if they are serially numbered and each copy contains information about the policy number of the policy to which it Is attached;

(v) a record of bank guarantees and deposits giving particulars of the party, amount and conditions of guarantee or deposit and cross- reference to the relevant policy or policies : Provided that If this information is readily available otherwise from the records, a separate record under this head need not be maintained:

(vi) a record of claims intimated mentioning name of claimant, giving reference to policy number, date of intimation of claim, interest covered, nature and cause of the loss or damage, provisional estimate of loss, amount at which settled, date of settlement of claim, recoveries from salvage or otherwise and whether surveyed : Provided that two separate records, one relating to claims intimated and the other relating to claims paid, may be maintained if there is adequate cross-referencing of information between them and if the information required under this clause is readily available from them taken together.

(3) The following item of information shall be maintained for the business of the insurer as a whole, namely :

 

(i) aregister of agents, giving in respect of each agent, name, address and particulars of agents' licence held, date of appointment and date of termination of appointment if any : Provided that a collection of cards or folios shall be deemed sufficient compliance with this requirement if they are filed in a systematic order and contain all the information required under this clause;

(ii) a record of agents giving particulars of business procured by each agent, the amount of premium received on such business and the amount of commission paid thereon;

(iii) duplicate copies of appointment letters issued to the agents, field workers and members of the staff and changes therein;

(iv) a record of employees, excluding salaried field workers, show- ing name, date of appointment, present designation, present salary and cross-reference to appointment letter and date of termination, if any;

(v) a record of field workers showing name, date of appointment, present designation, and present salary, showing the business ex- pected from and written by them with cross-reference to appointment letters and date of termination, if any;

(vi) cash book and disbursement book;

(vii) a record of Investments giving separately for immoveable property, securities and scrips, loans on mortgages and other loans, particulars of all the investments held showing the changes occurring therein from time to time;

(viii) a record of other assets, such as, deposits, amounts due, sundry debtors, furniture and fixtures, stationery, and cash in hand and with banks: Provided that in respect of cash in hand and with banks the require- ments of this clause shall be deemed to be complied with if the information about the amount of such cash is readily available from the cash book or other records.

 

(4) Every insurer shall obtain and maintain a legally valid receipt for every payment made and shall maintain the receipts filed in a systematic manner either chronologically or in some other convenient order.

 

(5) Every insurer shall, in respect of any payment made to an employee or other person on account of travelling expenses, maintain a record showing full details of the journey performed, purpose of the journey, details of the fares paid and allowances granted.

 

(6) Every office of an Insurer shall maintain an attendance register of clerical arid subordinate staff indicating employees who attend the office each day.

(7) Every office of an insurer issuing any documents used for evidenc- ing of the assumption of risk shall ensure that such documents are serially numbered, shall maintain a record of the serial numbers of the forms of documents issued to each person, and shall maintain a proper check to verify that all the forms of documents issued are properly accounted for.

 

(8) Every insurer shall retain all the documents relating to claims settled including copies of any survey or loss assessment reports connected therewith:

 

(i) in respect of every loss or damage on which a claim of less than Rs. 5,000 has been made, for a period of three years ;

(ii) in respect of every loss or damage on which a claim of Rs. 5,000 or more but less than Rs. 20,000 has been made, for a period of five years:

(iii) in respect of every loss or damage on which a claim of Rs. 20,000 or more but less than rupees one lakh has been -made, for a period of seven years; and

(iv) in respect of every loss or damage on which a claim of rupees one lakh or more has been made, for a period of twelve years; such period being counted from the date on which the claim is settled.

 

(9) Every insurer shall maintain a record setting out the names of each insurance company with which he has entered into any permanent facul- tative re-insurance arrangement, and such record shall show the terms on which re-insurance arrangements have been entered into and the commis- sions paid or received under each transaction.

 

(10) Every insurer shall maintain a record setting out particulars of each and every facultative re-insurance ceded or accepted and such record shall show the name of each insurer with whom the transaction has been entered into.

 

(11) Every insurer shall maintain a record setting out the names of each Insurer with which he has entered into re-insurance treaties from any of his offices in India, and such record shall include all the details of the terms of the treaties.

 

(12)

 

(a) Every insurer shall maintain the following accounts in his ledgers, namely:

(i) Re-insurance Accepted Account ;

(ii) Re-insurance Commission Paid Account ;

(iii) Re-insurance Claims Payable Account ;

(iv) Re-insurance Claims Paid Account ;

(v) Re-insurance Ceded Account ;

(vi) Re-insurance Commission Received Account :

(vii) Re-insurance Claims Recoverable Account ;

(viii) Re-insurance Claims Recovered Account ;

 

(b) An insurer shall be deemed to have complied with the provisions of Cl. (a), if the information required is otherwise readily available from the existing books and accounts of the Insurer.

 

Rule 40 Search and seizure

 

(1) The powers of search and seizure under Section 34H of the Act shall be exercised in accordance with sub-rules (2) to (14).

 

(2) The Controller may, after recording his reasons for doing so authorise any officer subordinate to him not lower In rank than an Assistant Controller of Insurance (hereinafter in this rule referred to as the authorized officer) for the purposes of Section 34H of the Act : provided that such authorization shall-

 

(i) be in writing under his signature ;

(ii) bear his seal: and

(iii) authorize the authorized officer to enter and search any building or place specified therein, and to exercise the powers and perform the functions under sub-section (1) of Section 34H of the Act with such assistance of police officers or of the officer of the Central Government, or both, as may be required.

 

(3) Whenever any building or place authorized to be searched is closed, any person residing in or being in charge of such building or place shall, on demand by the authorized officer and on production of the authority, allow him free ingress thereto and afford all reasonable facilities for a search therein.

 

(4) If ingress into such building or place cannot be so obtained it shall be lawful for the authorized officer executing the authority, with such assistance of police officers or of officers of the Central Government or of both as may be required, to enter such building or place and search therein and in order to effect an entrance Into such building or place, to break open any outer or inner door or window of any building or place, whether that of the person to be searched or of any other persons, if after notification of his authority and purpose and demand of admittance duly made, he cannot otherwise obtain admittance: Provided that, if any such building or place is an apartment in actual occupancy of a woman, who according to custom does not appear in public, the authorized officer shall, before entering such apartment, give notice to such woman that she is at liberty to withdraw and shall afford her every reasonable facility for withdrawing and may then break open the apartment and enter it.

 

(5) The authorized officer may require any person who is the owner, or has the immediate possession, or control, of any box, locker, safe, almirah or any other receptacle situate in such building or place, or open the same and allow access to inspect or examine its contents, and where the keys thereof are not available or where such person fails to comply with any such requirement, may cause any action to be taken including the breaking open of such box, locker, safe, almirah or other receptacle which the authorized officer may deem necessary for carrying out all or any of the purposes specified in the authority issued under sub-rule (2).

 

(6) The authorized officer may, where it is not practicable to seize any book, account or document, serve an order on the owner or the person who is in immediate possession or control thereof that he shall not remove, part with or otherwise deal with it except with the previous permission of the authorized officer who may take such steps as may be necessary for ensuring compliance with this sub-rule.

 

(7) Where any person in or about such building or place is reasonably suspected of concealing about his person any book, account or document for which search is being made, such person may also be searched by the authorized officer with such assistance as he may consider necessary. If such person is a woman, the search shall be made by another woman with a strict regard to decency.

 

(8) Before making a search, the authorized officer about to make it shall call upon two or more respectable inhabitants of the locality In which the building or place to be searched is situate to attend and witness the search and may issue an order in writing to them or any of them so to do.

 

(9) The search shall be made in the presence of the witnesses aforesaid and a list of all books, accounts and documents seized In the course of such search and of the places in which they were respectively found shall be prepared by the authorized officer and signed by such witnesses; but no person witnessing a search shall be required to attend as a witness of the search in any proceedings under the Act unless specially summoned.

 

(10) The occupant of the building or place searched or some person in his behalf shall be permitted to attend during the search and a copy of the list prepared under sub-rule (9) shall be delivered to such occupant or person. A copy shall also be forwarded to the Controller.

 

(11) When any person is searched under sub-rule (7) a list of all books, accounts and documents taken possession of shall be prepared and a copy thereof shall be delivered to such person. A copy shall also be forwarded to the Controller.

 

(12) The authorized officer may convey the books, accounts and other documents, if any, seized by him in the course of the search made by him to the office of the Controller or to the office of the authorized officer or to any other office under the jurisdiction of the Controller.

 

(13) The Controller or the officer in charge of the office mentioned in sub-rule (12), as the case may be, shall take such steps as he may consider necessary for the safe custody of books, accounts and other documents conveyed to him.

 

(14) The authorization of the Controller referred to in sub-rule (2) shall be In Form No. XVII.

 

Rule 41 Constitution

 

V109v109. rule 41 shall be substituated, by the INSURANCE (AMANDMENT) RULES, 2004

(1) The representatives of insurer on Tariff Advisory Committee shall be elected as follows, namely:-

 

(a) four members to be elected by insurers registered under the Act in the public sector in such manner that not more than one member shall represent each insurer;

(b) four members to be elected by insurers other than referred to in clause (i), registered under the Act;

(c) one member to be elected by reinsurers registered under the Act;

(d) one member to be elected by organizations exempted under Section 118 of the Act and Provident Societies under Section 65 of the Insurance Act, 1938;

 

(2) For the purposes of this rule, if any dispute arises, the Central Government shall decide the issue and their decision shall be final";

 

Rule 42 .

 

v110v110. rule 42 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 43 Election of members

 

v108v108. rule 43 shall be substituated, by the INSURANCE (AMANDMENT) RULES, 2004

(1) The election of members shall be held in every fourth calendar year, the first election after the commencement of the Insurance (Amendment) Rules, 2004 being held before the 31st December, 2004.

 

(2) Every election shall be conducted by the Secretary to the Advisory Committee in accordance with the procedure specified in the regulations made by the Authority";

 

Rule 44 .

 

v111v111. rule 44 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 45 .

 

v112v112. rule 45 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 46

 

.11. Omitted by G.S.R. 960. dated 29th July. 1972, published in the Gazette of India. Pt. II. Sec. 3W. dated 12th August. 1972. v113v113. rule 46 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 47 .

 

v114v114. rule 47 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 48 .

 

v115v115. rule 48 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 49 .

 

v116v116. rule 49 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 50 .

 

v117v117. rule 50 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 51 .

 

v118v118. rule 51 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 51A .

 

1971. v119v119. rule 51A shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004

 

Rule 52 .

 

v120v120. rule 42 shall be omitted, by the INSURANCE (AMANDMENT) RULES, 2004 omitted

 

Rule 53 fees payable to the Tariff Advisory Committee

 

The fees payable to the Tariff Advisory Committee under sub-section (1) of Section 64UH in respect of a calendar year shall be paid before the 31 st December of that year and shall be paid by means of a crossed bank draft on any branch of the State Bank of India in Bombay City drawn in favour of the Committee.

 

Rule 53A Fund of the Tariff Advisory Committee and custody of its moneys

 

(1) The Tariff Advisory Committee shall have its own fund and all receipts of Committee shall be carried thereto and all payments by the Committee shall be made therefrom.

 

(2) Subject to any regulations that may be made in this behalf, all moneys belonging to the Tariff Advisory Committee which are not im- mediately required by the Committee for any purpose shall be deposited with the State Bank of India.]

 

Rule 53B Accounts, audit and annual report of the Tariff Advisory Committee

 

(1) The Tariff Advisory Committee shall cause regular ac- counts to be kept of all its money and properties in respect of the affairs of the Committee in such form as may be determined by the Central Govern- ment in consultation with the 2Comptroller and Auditor-General of India].

 

(2) The annual accounts of the Committee shall be audited by the 22. Subs. by G.S.R. 566. dated 10th June. 1982. [Comptroller and Auditor-General of India] or by any person authorized by him in this behalf and any expenditure incurred in connection with such audit shall be payable by the Committee to the 22. Subs. by G.S.R. 566. dated 10th June. 1982. [Comptroller and Auditor- General of India].

 

(3) Any person appointed by 22. Subs. by G.S.R. 566. dated 10th June. 1982. [Comptroller and Auditor-General of India] in connection with the audit of the accounts of the Committee shall have the same rights, privileges and authority in connection with such audit as the 22. Subs. by G.S.R. 566. dated 10th June. 1982. [Comptroller and Auditor-General of India] has in connection with the audit of Government accounts, and in particular, shall have the right to demand the production of books, accounts, connected vouchers and other necessary documents and papers.

 

(4) The 11. Subs. by G.S.R. 566. dated 10th June, 1982. [Comptroller and Auditor-General of India] or any person appointed by him in this behalf-

 

(a) shall communicate the results of the audit to the Committee which shall submit a copy of the audit report along with its observance to the Central Government: and

(b) shall forward a copy of the report direct to the Central Government.

 

(5) The Committee shall, as soon as may be, after the end of each calendar year, prepare and submit to the Central Government a report giving an account of its activities during the previous calendar year.]

 

Rule 54 Apportionment of Provident Fund

 

Where on or after the com- mencement of the Insurance (Amendment) Act, 1968 (62 of 1968), all the employees of the Tariff Committee and the Regional Councils of the General Insurance Council do not become employees of the Tariff Advisory Commit- tee under Section 64UH of the Act, all the moneys and other assets belonging to the provident fund or superannuation fund any other like fund referred to in sub-section (3) of Section 64UF of the Act shall be apportioned between the Tariff Advisory Committee and the trustees of the fund in the following manner, namely:

(i) the moneys and other assets of any provident fund shall be apportioned in the proportion which the total of the amounts lying to the credit of the persons becoming employees of the Tariff Advisory Committee bears to the total of the amounts lying to the credit of the persons who do not become employees of the Tariff Advisory Commit- tee;

 

(ii) the moneys and other assets of any superannuation fund shall be apportioned in the proportion which the liability of the fund in respect of the persons becoming employees of the Tariff Advisory Committee bears to a similar Ilability in respect of persons who do not become employees of the Tariff Advisory Committee, such liability to be ascertained on such basis as may be determined by the Tariff Advisory Committee and approved by the Central Government; and

 

(iii) the moneys and other assets of any other like fund shall be apportioned in accordance with the principles set out in Cl. (i) or Cl. (ii) as the case may be.

 

Explanation.-For the purposes of this rule the assets of a provident fund, superannuation fund or any other like fund shall be valued at the market rate as on the date of commencement of the Insurance (Amendment) Act, 1968 (62 of 1968).

 

CHAPTER 13 Licensing of Surveyor and Loss Assessors

 

Rule 55 Licence fee for surveyors or loss assessors and collection thereof

 

(1)The fee for obtaining a licence to act as a surveyor or loss assessor, shall be Rs. 250 and for renewing such licence shall be Rs. 200.

 

(2) Any fee specified in this rule shall be paid into the Bank or where there is no office of the Bank, into the State Bank of India acting as the

 

Rule 56 Issue of licences to surveyor or loss assessors

 

An applicant who desires to obtain or renew a licence to act as a surveyor or loss assessors shall proceed as follows :

(a) the applicant shall obtain from the Controller of Insurance a form of application for a licence which shall be-

 

(i) in the case of an individual, whether working as a sole proprietor of a firm or not Form XVIII-AI or XVIII-BI. Form XVIII-AI shall be used when the applicant applies for a licence for the first time or for a fresh licence, while Form XVIII-BI shall be used when the applicant applies for the renewal of the licence already held by him-,

(ii) in the case of a company or firm. Form XVIII- AF, or Form XVIII-BF, Form XVIII-AF shall be used when the applicant applies for a licence for the first time or for a fresh licence, while Form XVIII-BF shall be used when the applicant applies for the renewal of the licence already held by him',

 

(b) he shall then send to the Controller of Insurance the completed application form along with the receipt showing payment of the fees specified in rule 55:

 

(c) the Controller of Insurance or the officer authorized by him may, after taking all reasonable steps to satisfy himself that the application is in order, that the applicant fulfils the requirements of Cl. (d) of sub-section (1) of Section 64UM of the Act and that the applicant is not disqualified from holding a licence, issue a licence to him or, as the case may be, renew the licence. The licence shall be In Form XVIII-AAI in the case of an individual and in Form XVIII-AAF in the case of a company or firm. Renewal of licence shall be in Form XVIII-BBI in the case of an individual and in Form XVIII- BBF in the case of a company or firm',

 

(d) no application for the renewal of a licence shall be entertained if it does not reach the Controller at least thirty days before the date on which the licence ceases to be in force.

 

Rule 56A Additional technical qualifications for surveyors and loss assessors

 

[. .-The following shall be the technical qualifications for purposes of item (i) of sub-clause (i) of Cl. (d) of sub-section (1) of Sec 64UM of the Act, namely:

(a) Fellowship or Associateship or Licenciateship held on the 26th October, 1968 or Fellowship or Associateship by examination subse-

 

(b) Fellowship or Associateship of the Royal Institute of British Architects, London, and/or a Degree or Diploma in Architecture of a recognized University or Institute secured after attending full time course or by passing examination of such University of Institute.

 

(c) Fellowship or Associate membership of the Institute of Char- tered Accountants in England and Wales.

 

(d) Fellowship or Associate membership of the Institute of Char- tered Accounts in Scotland.

 

(e) Fellowship or Associated membership of the Institute of Char- tered Accountants in Ireland.

 

(f) Fellowship or Associate membership of the Institute of Cost and Works Accountants in the United Kingdom.

 

(g) A degree or diploma of a recognized Institute of Engineering secured after attending full-time course and by passing the examina- tion of such Institute.

 

(h) A certificate of competency as Master of Ship or as First Class Marine Engineer issued by a recognized authority.

 

(i) A degree or diploma in Naval Architecture of a recognized University or Institute.

 

(j) A Fellow or Associate on the 26th October, 1968, or a Fellow or Associate by examination, of the Chartered Institute of Loss Adjust- ers. London, held after the 26th October, 1968.

 

(k) Any technical qualification recognized by the Government of India as equivalent or superior to the qualifications listed in terms (b) and (c) of sub-clause (i) of Cl. (d) of sub-section (1) of Section 64UM of the Act.]

 

CHAPTER 14 Sufficiency of Assets

 

Rule 57 Manner of bringing up the excess of the value of assets over the amount of the liabilities to the relevant amount

 

(1) In the case of an insurer carrying on general Insurance business at the commencement of the Insurance (Amendment) Act, 1968 (62 of 1968) the excess of the value of his assets over the amount of his liabilities shall be brought up to the "relevant amount" as defined in sub-section (1) of Section 64VA of the Act, in four stages as specified in the following table : Section 64VA of the Act. III 31-12-1971 Three-fourths of the "relevant amount" arrived at in the manner specified in sub-section (1) of Section 64VA of the Act. IV 31-12-1972 The "relevant amount" arrived at In the manner specified in sub-section (1) of Sec. 64-VA of the Act. _______________________________________________________________________________________

 

(2) Where in the case of an insurer referred to In sub-rule ( 1) the Central Government has, under the provisions of the third proviso to sub-section (1) of Section 64VA extended the date of the 31st December, 1972 referred to In the said proviso to a subsequent date, the excess of the value of assets over the amount of the liabilities shall be brought up to the relevant amount in four stages in accordance with sub-rule (1) but the dates mentioned in column (2) of the Table in that sub-rule shall be deemed to have been altered as follows:

 

(a) the date against Stage I shall be extended by one-fourth of the interval between the 31st December, 1972 and the extended date;

(b) the date against Stage II shall be extended by one-half of the interval between the 31st December, 1972 and the extended date;

(c) the date against Stage III shall be extended by three-fourths of the interval between the 31st December, 1972 and the extended date;

(d) in Stage IV, the extended date shall be substituted in place of 31st December, 1972 mentioned against that stage: Provided that if any such altered date against Stages I, II or III is not the last day of a calendar month, it shall be changed to the last day of the immediately preceding calendar month.

 

Rule 58 Advance payment of premiums

 

For the purposes of sub-sec- tion (1) of Section 64VB of the Act, a risk in respect of a policy may be assumed before the premium payable in respect thereof is received :

(i) If the entire amount of the premium is guaranteed to be paid by a Banking Company before the end of the calendar month next succeeding to the month in which the risk is assumed. If the premium due is not paid by the insured before that date;

 

(ii) If an advance deposit is made with the insurer to the credit of the insured sufficient to cover the payment of the entire amount of the premium together with the premium, if any, due from the insured in respect of any other risk already assumed against such deposit, such deposit being agreed to be adjusted towards the premium before the end of the month next succeeding to the month in which the risk is assumed, if the premium due is not paid by the insured before that date.

 

Rule 59 Relaxation

 

In respect of the categories of insurance policies mentioned thereunder the requirements of sub-section (1) of Section 64VB shall stand relaxed to the extent and in the manner mentioned against each category of policy, subject to the conditions mentioned therein :

(a) Policies issued to Government and semi-Government bodies.- The risk may be covered on such policies on the strength of an undertaking by the proposer to pay the premium within 30 days of the date of intimation of the amount of premium or within such further period as the Controller may fix in any particular case.

 

(b) Policies under 33. Subs by G.S.R. 1051. dated 19th July, 1971, published in the Gazette of India. Extraordinary. Pt. II, Sec. 3 (i). dated 21st July, 1971. [Sickness Insurance, Group Personal Accident Insurance, Medical Benefits Insurance and Hospitalisation Insurance Schemes.]-Premiums on such policies may be accepted in instalment provided that instalments covering a particular period shall be received [within 15 days from] the date of commencement of the period.

 

44. Ins. by Subs by G.S.R. 1051. dated 19th July, 1971, published in the Gazette of India. Extraordinary. Pt. II, Sec. 3 (i). dated 21st July, 1971. [(c) Fidelity Guarantee Insurance.-Fidelity Guarantee Insurance policies covering Government and semi-Govemment employees may be issued without receipt of premium in advance if the policy is not in renewal of an existing policy and subject to the condition that the premium is paid within thirty days from the date of appointment of the person covered by the policy.

 

(d) Policies covering risks where exact premium cannot be ascer- tained without reference to Head Office, Principal Office, etc.-Where the exact premium for a risk cannot be ascertained without reference to Head Office, Principal Office or Controlling Office or the Tariff Advisory Committee or Regional Committee or for any other reason, the risk may be assumed if there is a deposit made by or on behalf of the insured with the insurer at a suitable rate not less than 2.5 per mile but the premium in such cases shall be paid or adjusted within

 

(e) Declaration Policies.-Risk in respect of such policies may be assumed if at least the premium calculated on 75 per cent. of the sum assured has been received before assumption of the risk.

 

(f) Policies issued on the basis of adjustable premiums.-Risk in respect of policies issued on the basis of adjustable premiums, such as, workmen's compensation, cash in transit, etc., may be assumed on receipt of provisional premiums based on a fair estimate.

 

11. Ins. by G.S.R. 1051. dated 19th July. 1971. published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i). dated 21st July, 1971. (g) Annual Insurances connected with aircraft hulls and other aviation risks and connected with marine hulls.-Facilities for delayed payment of premium or the payment of premium by means of Instal- ments not exceeding four in number may be allowed at the discretion of the insurer on policies covering the following risks, namely :

 

(i) aircraft hulls,

(ii) marine hulls,

(iii) legal liability to passengers,

(iv) automatic personal accident insurance to passengers,

(v) blanket policies covering liability in excess of basic cover connected with aviation risks,

(vi) war risk insurance of air passengers and aircraft hulls,

(vii) third party, and other liability risks connected with aviation risks and marine hull risks,

(via) SRCC risk connected with aviation risk and marine hull risks: Provided that a clause to that affect Is endorsed on the policy.

 

(h) Short period covers in respect of insurance connected with aircraft hulls and other aviation risks and marine hulls.-Short period covers may be granted on a hull covered on basis of the following risks namely:

 

(i) aircraft hulls,

(ii) marine hulls,

(iii) legal liability to passengers,

(iv) automatic personal accident insurance to passengers,

(v) blanket policies covering liability in excess of basis cover connected with aviation risks,

(vi) war risk insurance of air passengers and aircraft hulls,

(vii) third party and other liability risks connected with aviation risks and marine hull risks,

(viii) SRCC risks connected with aviation risk and marine hull risks; subject to the condition that the premium or addi- tional premium in respect of risks assumed in a calendar month shall be paid by end of the next calendar month."

 

(i) Policies issued 11. Subs. by G.S.R. 1051. dated 19th July, 1971, published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i) dated 21st July, 1971. [for aperiod, of more than one year].-In the case of policies issued 11. Subs. by G.S.R. 1051. dated 19th July, 1971, published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i) dated 21st July, 1971. [for a period of more than one year], such as Contract Performance Bonds or Guarantees, Contractors' "All Risk" policies, Machinery Erection policies and the like, the premium may be stag- gered as necessary according to custom, over the period of the cover, provided that the first equated instalment is higher than any other instalment by at least 5 per cent. of the total premiums payable and each instalment is paid in advance. Where the premiums are payable by declarations, they may be paid within fifteen days from the dates of receipt of declarations.

 

(j) Schedule and consequential loss policies.-In such cases a provisional amount towards the premium shall be collected before the date of inception or renewal of risk on the basis of the previous year's premium.

 

(k) Marine covers other than hulls.-

 

(i) In the case of inland shipments and transit risks, risk may be assumed under open policies in respect of seasonal crops, such as, tea, on the payment of a provisional premium based on a fair estimate.

(ii) In the case of exports overseas, risk may be assumed subject to the condition that the premium shall be paid within fifteen days from the date of sailing of the overseas vessel.

(iii) In the case of imports, risk may be assumed subject to the condition that the premium shall be paid within fifteen days of the receipt of declaration in India from the insurer's or insurer's represen- tative overseas: Provided that the relaxations under sub-clauses (ii) and (iii) shall apply to marine cover notes only and not to marine policies.

 

(l) Policies relating to co-insurances.-The premium shall be deemed to have been duly paid if paid on the full insurance to any one of the co-insurers.

 

22. Subs. by G.S.R. 1051. dated 19th July, 1971, published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i) dated 21st July, 1971. [(m) Policies of re-insurance.-

 

(i) Risk may be assumed without payment of premium in advance on insurances accepted under auto- matic re-insurance contracts.

(ii) In the case of facultative re-insurances accepted, risk may be assumed without payment of premium in advance if the ceding insurer has given an undertaking to pay his share of the premium, instalment of premium, premium subject to delayed payment or, where a deposit premium or provisional premium was paid on the original policy, the adjusted premium, or, in the case of premiums subject to delayed payment, the delayed premium as the case may be, before the end of the calendar month succeeding the month in which the premium is due under the original policy.]

 

CHAPTER 16 Consultative Committee

 

Rule 60 Term of office

 

[. .-Any person nominated as a member of the Consultative Committee constituted under sub-section (1) of Section 110G of the Act (hereafter referred to in rule 61 to rule 65 as the Committee) shall hold office for a period not exceeding three years or such further periods not exceeding three years at a time as the Central Government may specify.]

 

Rule 61 Resignation and filling of casual vacancies

 

[(l) Any member of the Committee may resign his membership of the Committee by notice in writing addressed to the Secretary to the Government of India, Ministry of Finance (Department of Revenue and Insurance) to that effect and such resignation shall take effect from the date on which it is accepted by the Central Government, or on the expiry of a period of thirty days from the date of its receipt by the Central Government, whichever is earlier.]

 

(2) Casual vacancies in the Committee whether caused by resignation, death or otherwise, shall be filled by nomination by the Central Govern- ment.

 

Rule 62 Secretary

 

The Central Government may appoint a Secretary to the Committee for the purpose of performing such functions as are assigned to him by these rules or as may be assigned to him by the Chairman of the Committee.

 

Rule 63 Procedure for the conduct of business of the Committee

 

Procedure for the conduct of business of the Committee shall be as follows, namely:

(1) Meetings of the Committee.-Meetings of the Committee may be held at such places and at such times as may be decided by the Chairman of the Committee.

 

(2) Notice of meeting.-Notice of any meeting of the Committee shall be sent by the Secretary of the Committee to every member at least seven days before the date of the meeting.

 

(3) Quorum for the meeting.-Two members in addition the to Chair- man shall constitute quorum for a meeting.

 

(4) Adjournment of a meeting.-If the requisite quorum is not available within half an hour of the appointed time for a meeting, the Chairman may adjourn the meeting to such date and time as he may decide.

 

(5) Chairman to preside at meeting.-The Chairman shall preside atall meetings of the Committee.

 

(6) Record of deliberations.-The results of the deliberations of every meeting shall be recorded in the form of a note explaining, in brief, the matters referred to the Committee and the recommendations thereon of each of the members (other than the Chairman) present. Such record shall be signed by the Chairman and the members present.

 

(7) Circulation.-Any matter for consideration of the Committee may at the discretion of the Chairman be referred to the members for suggestions by circulation as an alternative to convening a meeting for the purpose.

 

Rule 64 Allowances payable to members of the Consultative Commit- tee

 

(1) Every non-official member shall be entitled for attending meetings of the Committee to travelling and other allowances as under :

 

(i) travelling allowance for journeys from the usual place of residence or the place of commencement of the journey to the place of the meeting and the return journey to the place of commencement of the journey or the usual place of residence, whichever is shorter in each case, at the maximum rate for the time being admissible to a Central Government servant of the first grade. Subject to the foregoing, the member shall be entitled to travel either by air-conditioned class or by air;

(ii) daily allowance at the maximum rate for the time being admissible to the Central Government servants of the first grade at the place of the meeting for the days on which the meeting is held and in respect of one day previous to the commencement of the meeting and one day after the meeting if the member actually arrives on or before and leaves on or after the respective days.

 

(2) The travelling allowances and daily allowances of an official member shall be governed by the rules for the time being applicable to him for journeys performed on official duty.

 

Rule 65 Fees of members

 

A non-official member shall be entitled to a fee for attending meetings of the Committee ofRs. 100 for each day of the meeting.)

 

SCHEDULE 1 SCHEDULE I

 

APPENDIX 1 FORM I

 

(See rule 5) RESERVE BANK OF INDIA To The Manager, Reserve Bank of India ...............London 19................................ This is to inform you that the...............have this day deposited the under-mentioned securities. Manager Number Loan Face value (in Market value Interest of Remarks   sterling) (ex-dividend dividend     in sterling) paid up to -      Total LT No. ST.

 

APPENDIX 2 FORM II

 

(See rule 5) RESERVE BANK OF INDIA Securities Department Certified that the................................19... the under-noted deposits in terms of the Insurance Act. 1938. Manager. Approved Securities Remarks Cash Loan Face value Market value 1 2 3 4 5 6       Total      Grant Total of columns 2 and 5 Rs...........................

 

APPENDIX 3 FORM III

 

(Sec rule 5) No............ ,,,. Sec. RESERVE BANK OF INDIA Securities Department Statement showing the particulars of deposits held on behalf of the........under Sec................ of the Insurance Act, 1938   Existing Depos New Deposits Re Total stering its (excluding ceived on....   deposits deposits . with     have drawn)     converted Loan       at is 6d. Face Book Face Book Face Book   Value Value Value Value Value Value          Total Securities        Cash..        Grand Total..        Certified that the above agrees with the entries In the books maintained by the Bank.        To        The Controller of Insurance.      1[* * * ]        Simla.              Manager.

 

APPENDIX 4 FORM IV

 

(See rule 10) List of deposits under the Insurance Act, 1938, held in the custody of the Reserve Bank of India on the 31st December, 19 ..... Name of Loan or Amount Total Face Cash Total Book Depositor nature of value   value of deposits     securities       and cash       

 

APPENDIX 4A FORM IV-A

 

[See rule 10 (c)] Return of investments of the Controlled Fund of the....................Insurance Company Limited................. as at................. 19 .... [See Sec. 28-A (1)] (Please see the note appended to the form) PART A (Investments approved under Sec. 27-A (1) of the Insurance Act). (1) Government securities and other securities charged on the revenues of the Central Government or of the Government of a Part A State or guaranteed fully as regards principal and Interest by the Central Government or the Government of any Part A State and securities Issued or guaranteed fully as regards principal and Interest by the Government of a Part B State and specified as approved; securities by the Central Government. Full des Date of Date of Rate of Face Book Market Remarks cription of Purchase Maturity Interest Value Value value the security                                (2) Approved securities other than those referred to in Item (1) above. [Sec Sec. 2 (3)] Full des Date of Date of Rate of Face Book Market Remarks cription of Purchase Maturity Interest Value Value value the security                                (3) Securities guaranteed fully as regards principal and interest by a Provincial Government in Pakistan or charged on the revenue of any part of that Dominion and debentures of other securities for money Issued by or on behalf of the Port of Karachi and satisfying the requirements of Rule 10-A of the Insurance Rules. Full des Date of Date of Rate of Face Book Market Remarks cription of Purchase Maturity Interest Value Value value the security                        (4) Securities Issued by the Government of any country outside India. Full des Date of Date of Rate of Face Book Market Remarks cription of Purchase Maturity Interest Value Value value the security        indicating the        name of        the country                (5) Debentures or other securities for money Issued with the permission of the State Government by any Municipality In a State. [See Sec. 27-A (1)(c)] Full des Date of Date of Rate of Face Book Market Remarks cription of Purchase Maturity Interest Value Value value the debenture        or security       

                                                                        NOTE TO FORM IV-A

I. (a) Market value of securities, debentures, shares, etc., should be ascer-

tained from published quotations. Where published, quotations are not available,

it should be stated in the remarks column how the market values have been arrived

at.

 

            (b) If. "accrued interest" has been added to the market value, it should be so

stated in the remarks column.

 

            (c) In the case of shares and debentures of companies, the location of the

companies should also be stated.

            (d) In the case of mortgages of property and properties owned by the Insurer,

location of each property should be separately stated.

 

            (e) In case'of investments made on and after the 19th January. 1950, the date

of purchase should be given.

 

            II. In respect of Investments In Part A of the statement. Investments which

were approved at the time of the last statement but ceased to be so subsequently

should be distinctly marked by double asterisks.

 

III. Investments held in deposit under Section 7 or Section 98 of the Act should also

be Included in the return.

 

APPENDIX 4AA FORM IV-AA

 

11. Ins by G.S.R. 1275, dated 28th May, 1969, published in the Gazette of India, Extraordinary, Pt. II, Sec. 3 (i), dated (

]

[See rule 10-C (3)] Return of investments of the assets of the (insurer) as at 19. [See Sec. 28 (B) (1) of the Act]. (Please see the notes appended to the Form) PART A (Investments approved under Sec. 27-B (1) of the Insurance Act, 1938). (1) Government securities and other securities charged on the revenues of the Central Government or of a State Government or guaranteed fully as regards principal and Interest by the Central Government or a State Government and specified as approved securities by the Central Government. ^ Full description Date of Date of Rate of Face value of the security purchase maturity interest         Book Market Remarks value value    I hereby certliy that the particulars furnished in the return are true and

complete to my knowledge.

 

Date:                                            Principal Officer.

 

NOTES

 

            1. (a) Market value of securities, debentures, shares, etc. should be ascer-

tained from published quotations. Where published quotations are not available, it

should be stated in the remarks column how the market values have been arrived

at.

 

            (b) If "accrued interest" has been added to the market value, it would be so

stated in the remarks column.

 

            (c) In the case of shares and debentures of companies, the location of the

companies should also be stated.

 

(d) In the case of mortgages of property, and properties owned by the Insurer,

location of each property should be separately stated.

 

            (e) In the case of Investments made on and after the 31st December, 1968,

the date of purchase should be given.

 

            II. In respect of Investments in Part A of the statement, investments which

were approved at the time of the last statement but ceased to be so subsequently

should be distinctly marked by double asterisks. -

 

            III. Investments held in deposit under Section 7 of the Act should also be Included

in the return.

 

 

APPENDIX 4AAA FORM IV-AAA

 

TR> Telegraph, Posts and Telegraphs Training Centre, Jabalpur. Divisional Engineer (i) to (iv) Head of Circle. Telegraph. Deputy Director, (i) to (iv) Member Posts and Postal Life Telegraphs Board. Insurance. Secretary, Post and Telegraphs Board. Principal, Postal (i) to (iv) Member Posts and Training Centre. Telegraphs Board. Principal, Posts and Telegraphs Training Centre. 3. Indian Foreign Service (B): General Cadre. Deputy Secretary, Deputy Secretary. All Secretary, Ministry of Grades V and VI Ministry of External Ministry of External External Affairs. Affairs. Affairs. In respect of a member of Head of Chancery, (i) to (iv) Secretary, Ministry of the Service serving in an if he is of the rank External Affairs. Indian Mission/Post abroad. of First Secretary or above, other wise Head of Mi ssion Post of the rank of Grade V of Indian Foreign Service or above. 4. General Central Service, Group 'C' (i) Posts in Ministry Deputy Secretary or Deputy Secretary or Director All Secretary in the Ministry/ Department of Director in the Ministry/ in the Ministry/Department Department of Govern Government Department of Government. ment. other than the of Government posts in respect of which specific provision has been made by a general or special order of the President. (ii) Posts in non Head of Office Head of Office. All If such Head of Office is secretariat Office subordinate to a Head other than the of Department under the posts in respect Ministry or Department of which specific of Government, such Head provision has of Department. If the Head been made by a of the Office is himself general or the Head of Department special order of or is not subordinate to the President. any Head. Head of Department, the Secretary in the Min istry or Department of Government. 4(iii) Posts in Union Head of Office or such Head of Office or such other All Administrator or such Territories. other authority as may authority as may be specifi other authority as may be be specified by the ed by the Administrator. specified by the Admin Administrator. istrator; where the order is that of the Administrator, the President. 5(iv) 1. All Group 'C" Controller of Accounts or Controller of Accounts or All 6[Chief Controller of Acc- posts other Deputy Secretary ( in the Deputy Secretary (Adminis ounts (in the Ministries than Lower Ministries / Departments) tration) in the Ministries / and Departments where Division Clerk where there is no Cont Departments where there is the Principal Accounts in the depart- roller of Accounts. no Controller of Accounts Officer is of the grade of mentalized Chief Controller of Accounts Accounts). Offices. or Financial Adviser where there is no Chief Contro ller of Accounts (Joint Secretary ( Administrat ion) in the Ministries / Department where there is no Financial Adviser.)] 2. Lower Divi Deputy Controller of Deputy Controller of Acc All Controller of Accounts sion Clerks in Accounts or Under Sec ounts or Under Secretary (in the Ministries / the Departm- retary in the Ministries /

(Administration) in the Departments where Pri entalized Acc Departments where there Ministries / Departments ncipal Accounts Officer ounts Offices is no Deputy Controller where there is no Deputy is of the grade of Con of Accounts. Controller of Accounts. troller of Accounts) or Financial Adviser [joint Secretary (Administration) in the Ministries / Departments where there is no Financial Adviser.] 7[5. Central Sec Secretary in Ministry Secretary in Ministry or All President retariat Official of Department Department. Language Ser vice, Group 'C' Joint Secretary in Min (i) to (iv) Secretary in Ministry / istry or Department Department. Head of Department. PART IV Central Civil Services, Group 'D' (Except for Civilians in Defence Services) Authority competent to impose penalties and penalties which it Serial Description of service Appointing Authority may impose (with reference to Number item Numbers in Rule 11) Authority Penalties Appellate Authority (1) (2) (3) (4) (5) (6) 1. General Central Service, Group 'D' (i) Posts in Ministriesor Department of Under Secretary. Under Secretary. All Deputy Secretary or Government other than posts in Director. respect of which specific provision has been made by a general or special order of the President, (it) Posts in non-Secretariat Offices other Head of Office. Head of Office. All If such Head of Office is than posts in respect of which specific subordinate to a Head of provision has been made by a general or Department under the special orders of the President. Ministry or Department of Government, such Head of Department. If the Head of the Office is himself the Head of Department or is not subordinate to a Head of Department, the Secretary in the Ministry or Department, of Government. 1[(iii) Posts in Union Territories. Head of Office or Head of Office or All Administrator or such other such other authority such other authority authority as may be speci as may be specified by as may be specified fied by the Administrator. the Administrator. by the Administrator. Where the order is that of the Administrator, the President. Pay and Accounts Office) Pay and Accounts All Deputy Controller of 2[(iv) All Group 'D' posts in the Secretary. Accounts or Controller of Departmentalized Accounts Accounts or Under Offices. Secretary (Administration) in the Ministries where there is no Deputy Controller of Accounts and Controller of Accounts. PART V Civil Posts in Defence Service Serial Description of Service/Post Appointing Authority competent to impose penalties and penalties which Number Authority it may impose (with reference to item numbers in Rule 11) Authority Penalties (1) (2) (3) (4) (5) 1. 1Group 'B' Posts: (A) (i) All Group 'B' (Gazetted) posts other Additional Secretary. Additional Secretary. All than those specified in item (B). Chief Administrative Officer. (i) to (iv) (ii) All Group 'B' (Non-Gazetted) posts Chief Administrative Chief Administrative Officer. All other than those specified in item (B). Officer. (B) Posts in Lower formations under (i) General Staff Branch. Deputy Chief of Army Deputy Chief of Army Staff. All Staff. Director of Military Intelligence, (i) to (iv) Director of Military Training, Director of Artillery, 2[Signals Officer-in-Chief ]., Director of Staff Duties, as the case may be. (ii) Adjutant-General's Branch. Adjutant-General. Adjutant-General. All Director of Organization, (i) to (iv) Director of Medical Services, Judge Advocate-General, Director of Recruiting, Military and Air Attache, as the case may be. (iii) Quarter-Master-General's Branch. Quarter-Master-General Quarter- Master-General. All Director concerned holding rank (i) to (iv) not below Brigadier. (iv) Master-General of Ordnance Branch. Master-General of Ordnance Master-General of Ordnance All Director of Ordnance Services, (i) to (iv) Director of Electrical and Mechanical Engineering, as the case may be. (v) Engineer-in-Chief Branch. Engineer-in-Chief Engineer-in-Chief. All (vi) Naval Headquarters. Chief of Personnel. Chief Engineers of Commands. (i) to (iv) Chief of Personnel All Flag Officer Commanding-in- (i) to (iv) Chief, Western Naval Command, Bombay, Flag Officer Commanding-in-Chief, Eastern Naval Command, Visakhapatnam, Flag Officer Commanding-in-Chief, Southern Naval Command, Cochin, Flag Officer Commanding. Goa Area, Goa. The Fortress Commander. Andaman & Nicobar Islands, Port Blair, Admiral Superintendent, Naval Dockyard, Bombay Admiral - Superintendent, Naval Dockyard, Visakhapatnam, Chief Hydrographer, Naval Hydrographic Office, Dehradun. (vii) Air Headquarters. Air Officer-in-Charge Personnel, Air Officer-in-Charge Personnel, All Air Headquarters. Air Headquarters. (viii) Directorate General, Director General Armed Forces Director General, All Armed Forces Medical Medical Services. Armed Forces Medical Services. Services. (ix) Directorate General, Director General, Director General, All National Cadet Corps. National Cadet Corps. National Cadet Corps. (x) Directorate General, Directorate General, Directorate General, All Defence Lands and Defence Lands and Defence Lands and Cantonment. Cantonment. Cantonment. (xi) Directorate General, Director General, Director General, All Ordinance Factories. Ordnance Factories. Ordnance Factories. (xii) Directorate General, Director General, Director General, All of Inspection. of Inspection. of Inspection. (xiii) Technical Development Director of Technical Director of Technical All and Production (Air) Development and Production (Air) . Development and Production (Air). Organization. (xiv) Defence Research and Director General, Director General, All Development Organization. Defence Research and Defence Research and Development. Development. Chief Controller, Research and (i) to (iv) Development (Administration). 3[(xv) Posts in subordinate units Project Director, Radar & Project Director, Radar & All of Radar & Communicat Communications Project Communications Project ions Project Office.] Office Office. 2. Group C' and Group 'D' (A) Posts in Posts: 4(i) Armed Forces Headquarters Deputy Chief Administrative Deputy Chief Administrative All Officer for Group 'C' posts Officer for Group 'C' posts Senior Administrative Officer Senior Administrative Officer All for Group 'D' posts. for Group 'D' posts. (ii) All Grade 'C' posts other Deputy Director-General, Deputy Director-General, All than (B) (xi) and Grade 'D' Ordnance Factories. Ordnance Factories. posts in Ordnance Factory Board Hqrs. including Ordnance Factory Cell Ordnance Equipment Factories Hqrs., Hqrs. of Addl. DGOF/AV and any other Hqrs. of Addl. DGOF.] (B) Post in lower formations under (i) General Staff Branch. (a) Armoured Corps 5[(except Deputy Chief of Army Staff. Deputy Chief of Army Staff. All civilian Switch Board Operators)] Territorial Army and Defence Security Corps Directorates. (b) Military Intelligence Director of Military Intelligence. Director of Military Intelligence. All Directorate. (c) 6[Staff Duties Directorate Director of Staff Duties. Director of Staff Duties. All (i.e., posts in Headquarter formation and Staff offices manned by civilians who are not borne on the strength of any Army/ Service/Corps, including conservancy staff, but excluding civilian Switch, Board Operators)] (d) [Military Training Direct (1) Director of Military Training (in (1) Director of Military Training (in All orate [7( except Civilian lower formations commanded by lower formations commanded by Switch Board Operators)] officers of the rank of Brigadier officers of the rank of Brigadier and below). and below). (2) Commandants (Major-General) of (2) Commandants (Major-General) of All Defence Services Staff College, Defence Services Staff College, National Defence Academy, Indian National Defence Academy, Indian Military Academy, and 8[College of Military Academy, and [College of Combat]. Combat]. (e) Artillery Directorate Director of Artillery. Director of Artillery. All (f) Signals Directorate (in Signal Officer-in-Chief. Signal Officer-in-Chief. All cluding civilian Switch Board Operators of non signal units under Armoured Corps, Staff Duties Directorate, and Military Training Directorate now included in the General Staff Branch Common Roster of Civilian Switch Board Operators). (ii) 9[Adjutant-General's Branch Adjutant-General. Adjutant General. All (including all Group 'C' posts in Record Offices of the Army Ordnance Corps, Electrical and Mechanical Engineers and Military Forms Records).] (iii) Quarter-Master-General's Quarter-Master-General. Quarter-Master-General. All Branch. (iv) Master-General of Ordnance's Branch. Director of Ordnance Services Director of Ordnance Services. AH for Army Ordnance Corps Civilian Personnel. Director of Electrical and Director of Electrical and Mechanical All Mechanical Engineering for Engineering. Electrical and Mechanical Engineering Civilian personnel. (v) Engineer-in-Chiefs Branch Engineer-in-Chief. Engineer-in-Chief. All (vi) Naval Headquarters. Director of Civilian Personnel, Director of Civilian Personnel, All Naval Headquarters. Naval Headquarters. 10[(vii) Air Headquarters.] Air Officer Commanding-in-Chief Air Officer Commanding-in-Chief All of concerned Command. of concerned Command. (viii) Directorate General, Director-General, Director-General, All Armed Forces Medical Armed Forces Medical Armed Forces Medical Services. Services. Services. (ix) Directorate General, Director-General, Director-General, All of Inspection. of Inspection. of Inspection. (x) Directorate General, Director-General, Director-General, All National Cadet Corps. National Cadet Corps. National Cadet Corps. 10[(xi) (a) All Grade 'C' posts of Deputy Director-General, Deputy Director-General, All Chargeman, Grade I, Ordnance Factories. Ordnance Factories. Asstt. Store Holder, Asstt. Foreman, Store Holder, Foreman, Principal Foreman, and equivalent posts. (b) All Grade 'C' posts other General Manager. General Manager. All than (a) above and Grade 'D' posts in Ordnance Factories, Ordnance Equipment Factories. (c) All Grade 'C' posts other Director. Ordnance Factory Staff Director. Ordinance Factory Staff All than (a) above and Grade College. College. 'D' posts in Ordnance Factories, Staff College.] (xii) Directorate of Military Directorate of Military Directorate of Military All Lands and Cantonments. Lands and Cantonments. Lands and Cantonments. All (xiii) Director of Public Relations. Director of Public Relations. Director of Public Relations. (xiv) Defence Research and Scientific Adviser to the Ministry of Scientific Adviser to the Ministry of All Development Organization. Defence and Director-General, Defence and Director-General, Defence Research and Development Research and Development Organization. Organization. (xv) Directorate of Technical Director of Technical Development Director Technical Development All and Production (Air). and Production (Air). and Production (Air). 11[(xvi) Posts under Security Chief Security Officer, Ministry Chief Security Officer. Ministry All Office.] of Defence. of Defence. (xvii) All Groups 'C' and 'D' Commanding Officer. Commanding Officer. All posts in subordinate units of Radar and Communications Project Office.

I hereby certify that- (a) the particulars furnished in the return are true and complete to my knowledge: (b) that various investments have been properly classified In the appro- priate Parts of the return; (c) all the investments conform and have at all times conformed to the provisions of the various relevant sub-sections of Section 27A of the Insurance Act, 1938, in Its application to the Life Insurance Corporation of India: and (d) prior permission of the Central Government has been obtained in regard to all that the investments in private limited companies that have been shown in this return. Dated: Managing Director. Notes to Form IV-AAA I. In respect of Investments in Part A of the return, particulars of all Investments which were scheduled at the time of the last return but ceased to be so subsequently should be given separately. II. Figures of investments in respect of Capital Redemption (including Annuity Certain) Insurance Business should be given separately. III. Figures of investments outside India should be given separately.

 

APPENDIX 4B FORM IV-B

 

[See rule No. 10 (c)(2)] Return showing all the changes that occurred in the Investments of the Controlled Fund of Insurance Company Ltd.. during the quarter ending 19...... [See Sec. 28-A (2)] (1) Purchases during the quarter ending 19 ... Full Date of Purchase Face Book Market State State descrip Purchase price value value value whether whether tion of      the the the      Investment additions investment      complies to the       with Sec. existing       27-A (1) holding if        any        would        attract        Sec. 27-        A(3) or (4)         (2) Sale during the quarter ending 19... Full Date of Sale Amount Face Book Date of Purchase descrip sale price realised value of value of purchase price of tion of   by the the the of the the the   sale invest Invest investment investment- Invest    ment ment now sold* now sold* ment    sold sold           To be given In the case of investments made after 19th January, 1950. If made before the said date It may be so stated In the columns. Also Note 1 (a) to 1 (b) on Form IV-A.

 

APPENDIX 4BB FORM IV-BB

 

11. Ins. by G.S.R. 1275, dated the 28th May, 1969, published In the Gazette of India. Extraordinary, Pt. II, Sec. 3 (i}, dated 28th May, 1969. [

[Sec rule 10-C (4)] Return showing all the changes that occurred in the Investments of the assets of the....................(insurer), during the quarter ending......19 [See Sec. 28-B (2) of the Act] (1) Purchases and other additions during the quarter ending....... 19 ... Full description Date of Purchase Face Book of the purchase or price value value investment addition    Market value State whether the State whether the additions investment complies with to the existing holding if any. Sec. would attract Sec. 27-B (4) 27-B (1) or (5)           ^ 2. Sales and other deductions during the quarter ending..... 19 ..... Full description of Date of sale or Sale price Amount realised by the investment disposal the sale      Face value of the Book value of the Date of purchase of Purchase price of the Investment sold Investment sold the Investment now Investment not sold   sold*       To be given in the case of investments made after 31st December, 1968. If made before the said date it may be so stated in the columns. Also see Note 1 (a) to 1 (b) In Form IV-AA.]

 

APPENDIX 4BBB FORM IV-BBB

 

22. Ins. by G.S.R. 1373, dated 13th September, 1976. published In the Gazette of India. Pt. II, Sec. 3 (i). dated 25th September. 1976. [

                                               

                                                            [See rule 10C (2)]

 

            Return showing all the changes that occurred In the Investments of the

controlled fund of the Life Insurance Corporation of India during half year ending.

 

                                                            [See Section 28A(2)]

 

                        (Please see the notes appended to the Form)

 

            (1) Purchases or additions during the half year ending.... 19........

Category of the Total face Total book State whether Remarks investment value value the additions,     together with     the existing     holding. If any     are     If In the equity In any private lim    shares of any com ited company,    pany. more than without the prior    thirty per cent. of permission of the    the subscribed eq Central Govern    uity share capital ment.    of the company the     uncalled liability     on partly paid     shares to be     added). (2) Sales or deductions during the half-year ending 19 ... Category of the Total face Total book Total amount Remarks ' investment value of value of the realised   Investment Investment sold   sold or or realised    realised                                             

                                                            Notes to Form IV-BBB

 

            I. Particulars relating to Scheduled and Non-Scheduled investments should

be shown separately.

 

            II. Figures of investments in respect of Capital Redemption (Including Annuity

Certain) Insurance Business should be given separately.

 

            III. Figures of Investments outside India should be given separately.]

 

 

APPENDIX 4C FORM IV-C

 

            [See rule 14(7)]

                                                     Instrument of Proxy

                                                   Insurance Company Limited

 

            I...................................of......................................In       the       District

of........................................................being a holder of policy/policies bearing the

number/numbers........................issued by the...........................................Insur-

ance Company Limited hereby appoint...........................................who Is also a

holder of policy/policies bearing the number/numbers....................................is-

sued by the above-mentioned company or in case the said policy holder falls to

attend     such    meeting     I     appoint.......................................................

of..................................................who is also a holder of policy/policies bearing

the number/numbers......................................issued by the above-mentioned

company*1 as my proxy to vote for me and on my behalf at the meeting of the

company to be held for the election of policy holders' directors on

the............................ day of................................... and at any adjournment thereof.

            Signed this......................day of.....................

                                                                                                                        Signature.

 

 

APPENDIX 5 FORM V

 

    (See rule 16A of the Insurance Rules, 1939)

                              APPLICATION FOR A LICENCE TO ACT AS AN INSURANCE AGENT

 

To

 

            THE CONTROLLER OF INSURANCE 1 [* * *] SIMLA.

            Dear Sir.

 

            I request that a licence to act as an insurance agent may be granted to me.

            *2. I hereby declare that-

 

                        (i) I have not been found to be unsound mind by a Court of competent

            jurisdiction;

 

                        (ii) I have not been found guilty of criminal misappropriation or criminal

            breach of trust or cheating or forgery or an abetment of or attempt to commit

            any such offence by a Court of competent Jurisdiction: and

 

                        (iii) I have not been found guilty of or to have knowingly participated in

            or connived at any fraud, dishonesty or misrepresentation against an insurer

            or an insured In the course of any judicial proceeding relating to any policy

            of insurance or the winding up of an insurance company or In the course of

            an investigation of the affairs of an insurer: and

 

            3. I also declare that the particulars given below are true and that the licence

for which I hereby apply will be used only by myself for soliciting or procuring

insurance business.

 

     (IN BLOCK LETTERS)

 

(1) Full name.                              Mr.-*

 

                                        (1) Mrs.-*

                                            Miss

(2) *Father's/Husbands name.                   (2)

 

(3) Full address                        (3)

 

(4) Date of birth of the applicant      (4)

    in Christian Era.

 

(5) If you ever held a licence, state   (5)

    No. and date of expiry,

    otherwise say "Nil".

(6) If the applicant holds a            (6)

    certificate to act as a Principal

    Agent and/or a Chief Agent

    and/or a Special Agent, state

    No. and date of expiry

    certificate or certificates held.

    If no certificate is held, say Nil.

    If any such certificate has been

    applied for, state the date of

    the application.

    Strike out portion not required.    2 [Government of India In-

 2 Dated the                               surance Stamps for Rs. 15]

 

                                                                Yours faithfully

                                                          (Signature of applicant)

                             (See Notes on the reverse)

 

 

NOTES

 

            1. The attention of the applicant Is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever in any document required for the purposes of

any of the provisions of that Act, wilfully makes a statement false In any material

particular, knowing it to be false, shall be punishable with imprisonment for a term

which may extend to three years, or with fine which may extend to one thousand

rupees, or with both.

 

            2. A licence can be granted to an individual only and not to firm or corporate

or unincorporate body.

 

            3. An individual can apply for only one licence which will entitle him to solicit

or procure insurance business of any class and to act as an insurance agent for

any insurer.

 

            4. The application should be filled in, as far as possible, in English language.

 

            5. Any correction or alteration made in any answer to the questions in the

application should be initialled by the applicant.

 

            6. An applicant must be at least 18 years of age on the date of submission of

the application. In the case of an applicant declaring his age as 18 years, the exact

date of birth should be given and in all other cases, either the exact date of birth

or failing that the year of birth should be stated against item 4 of the application.

If required the applicant shall furnish proof of age.

 

            7. Payment in cash or by money-order, cheque, postal order, postage stamp

or Bank draft is not accepted and will be returned at applicant's cost

 

8. No acknowledgment of this applicant will be sent. If one is required, the

application should be sent by registered post (acknowledgment due).

 

APPENDIX 5A FORM V-A

 

    (See rule 16A of the Insurance Rules, 1939)

                APPLICATION FOR RENEWAL OF A LICENCE TO ACT AS

                            AN INSURANCE AGENT

 

(IN BLOCK LETTERS)          FROM

                            Mr.*

Name of Insurance Agent     Mrs*

                            Miss*

        Full address.................................................................................................

        ....................................................................................................................

To

 

        THE CONTROLLER OF INSURANCE,

        1 [* * *] SIMLA.

 

        Licence No.________________Date of expiry_______

        Dear Sir,

 

        I request that the above licence may be renewed for a further period of three

years.

 

             *2, I declare that since the date of my last application for a licence-

 

              (i) I have not been found to be of unsound mind by a Court of competent

             jurisdiction:

 

             (ii) I have not been found guilty of criminal misappropriation or criminal

              breach of trust or cheating or forgery or an abetment of or attempt to commit

             any such offence by a Court of competent jurisdiction;

 

 (iii) I have not been found guilty of or to have knowingly participated in

             or connived at any fraud, dishonesty or misrepresentation against an insurer

             or an insured in the course of any judicial proceeding relating to any policy

             of insurance or the winding up of an insurance company or in the course of

             an investigation of the affairs of an insurer: and

                        (iv) My licence has not been cancelled at any time by the Controller of

             Insurance.                                           Principal agent

                                                            No. P.A..........expiring on...............

             3.* I hold/have applied for a certifi-                              Chief agent

             cate to act as a                                     No. C.A..........expinng on..............

                                                             Special agent

                                                             No. S.A..........expiring on..............

             4.* I neither hold nor have applied for              Principal agent

             certificate to act as a                              Chief agent

                                                             Special agent

 

             5. I also declare that the facts stated herein are true and that the licence for

             which I hereby apply will be used only by myself for soliciting or procuring Insurance

             business.

 

                                                                       Yours faithfully.

             *Strike out portion not required.

 

                                  Government of India Insurance

Dated the      19....                Stamp vide Note 5.                 Signature of applicant.

 

                              (Please sec Notes on the reverse)

                                          NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 to the Insurance Act,

1938, which provides that whoever in any document required for the purposes of

any of the provision of that Act, wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with imprisonment for a term

which may extend to three years, or with fine which may extend to one thousand

rupees, or with both.

 

2. The name and the licence No. given in the application are identical with

those shown In the last licence held. If there is any subsequent change in the name.

the reasons for the same should be stated furnishing documentary evidence for the

same.

 

            3. Any correction or alteration made in the application should be initialled by

the applicant.

 

            4. The application should be filled in as far as possible in the English language.

 

            5. The application should reach the Controller of Insurance before the expiry

of the last licence held by the applicant but not more than three months before

such expiry and "Government of India Insurance" Stamps for 1 [Rs. 15] should be

affixed to it. If the application does not reach the Controller of Insurance at least

30 days before the date on which the last licence ceases to be in force: "Government

of India Insurance" Stamp to the value of 1 [Rs. 7] should be affixed to the application

by way of penalty. In this connection please also refer to the provisos to rule 16A

of the Insurance Rules, 1939.

 

            6. Payment in cash or by money-order, cheque, postal order, postage stamp

or bank draft is not accepted and will be returned at applicant's cost.

 

7. No acknowledgment of this application will be sent. If one is required, the

application should be sent by registered post (acknowledgment due).

 

APPENDIX 5B FORM V-B

 

GOVERNMENT OF INDIA

           1 [OFFICE OF THE CONTROLLER OF INSURANCE]

 

                       To be filled in by the applicant

                                                         LICENCE NO.____________

               (See rule 16A of the Insurance Rules, 1939)

          Licence to act as an Insurance Agent under Part II of

                           the Insurance Act, 1938

 

To be filled In by      Mr.

the applicant in        Mrs.

Block Letters           Miss.

                        Address............................................................................................

                                           ..............................................................................................

 

having paid the prescribed fee and having made the necessary declaration is hereby

authorised to act as an Insurance Agent for three years from Simla, dated the

19 .

Signature of licence holder________________Controller of Insurance.

            This licence is not valid unless it bears a facsimile of the signature of the

Controller of Insurance and the initials of a person authorised by him in this behalf

and the signature of the licence holder. The latter should put his signature as soon

as the licence is received.

 

                                     NOTES

           

            1. If it is desired to renew this licence for a further period, the procedure laid

down in rules 16 and 16-A of the Insurance Rules. 1939, shall be followed, and an

application for renewal should reach the Controller of Insurance before the licence

expires. In this connection attention is also invited to the provisos to rule 16-A of

the Insurance Rules, 1939.

 

2. This licence authorises the licence holder to act as an agent for any

registered insurer and for any class of insurance business, and therefore no

identifying mark or note of any description by which the identity of an Insurer might

be establishment should be placed on the licence.

 

            3. No correction in this licence will be valid unless initialled by the Controller

of Insurance or a person authorised by him in this behalf.

 

APPENDIX 5P FORM V-P

 

 Application from a firm or company for a licence to act as

                                 an insurance agent

                   (See rule 16A of the Insurance Rules, 1939]

To

 

            The Controller of Insurance.

             2 [* * *] Simla,

            Dear Sir,

 

            It is requested that a licence to act as an Insurance Agent may be granted to

our Firm/Company.

 

 

 

2. * It is hereby declared that :

 

            (i) any partner of our Firm/any Director of our Company has not been

found to be of unsound mind by a court of competent jurisdiction;

 

            (ii) any partner of our Firm/any Director of our Company has not been

found guilty of criminal misappropriation or criminal breach of trust, or

cheating or forgery, or an abetment of or attempt to commit any such offence

by a court of competent jurisdiction:

 

(iii) any partner of our Firm/any Director of our company has not been

found guilty of or to have knowingly participated in or connived at any fraud.

dishonesty or misrepresentation against an insurer or an Insured in the

course of any judicial proceedings relating to any policy of insurance or the

winding up of an Insurance company In the course of an investigation of the

affairs of an insurer: and

            (iv) any partner of our Firm/any Director of our Company is not a minor.

 

3. * It is also declared that the particulars given below are true and that the

licence for which our Firm/Company apply will be used only by our Firm/Company

for soliciting or procuring general insurance business.

 

1. Full name of the applicant. (In              (1) Company/Firm.................................

   Block Letters)                                   .........................................................

2. Full address                                 (2) .........................................................

                                                    .........................................................

3(i) (In the case of a Firm) the                (3) .........................................................

     names of all the partners                      .........................................................

     therein:                                       .........................................................

(ii) (In the case of a company) the                 .........................................................

     names of the Directors.                        .........................................................

4. State number and date of                     (4) .........................................................

   expiry of certificate to act as a                .........................................................

   Principal   Agent   held                         .........................................................

   immediately betore the 1st                       .........................................................

   August. 1957                                     .........................................................

5. The date from which the                      (5) .........................................................

   licence should be effective                      .........................................................

 

*Strike out portions not required.   

1 [Government of India Insurance

                             Stamp for Rs. 15.]

Name of place..................................

Dated the..................................... 19

                                                                                                                        Yours faithfully,

                                                                                                            Signature of applican

                                               (See notes below)

                                     NOTES

 

            1. The attention of the application Is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever in any document required for the purposes of

any of the provisions of that Act, wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with Imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees, or with both.

 

 

 

            2. A licence can be granted to a firm or company registered under Section 42A

of the Act. which held a certificate to act as a Principal Agent immediately before

the 1st August, 1957.

 

            3. A firm or company registered under Section 42A of the Act, which held

certificate to act as a Principal Agent Immediately before the 1st August, 1957, can

apply for only one licence which will entitle it to solicit or procure any class of general

Insurance business and to act as an insurance agent for any insurer.

 

            4. The application should be filled in. as far as possible, in the English

language.

 

5. Any correction or alteration made in any answer to the questions in the

application should be initiated by the applicant.

 

            6. Payment in cash or by money order, cheque, postal order, postage stamp

or bank draft is not accepted and will be returned at applicant's cost.

 

            7. No acknowledgment of this application will be sent. If one is required, the

application should be sent by registered post (acknowledgment due).

 

APPENDIX 5PA FORM V-PA

 

Application from a firm or company for renewal of a licence to act as

                             an Insurance Agent

 

                 (See rule 16A of the Insurance Rules. 1939)

Form

 

Name of applicant................................

                          (In Block letters)

 

Full address...........................................................................................

..............................................................................................................

                          (In Block letters)

To

 

       The Controller of Insurance,

       1 [* * *] Simla.

                                                           Licence No...........................

                                                           Date of expiry........................

       Dear Sir.

 

       It is requested that the above licence may be renewed for a further period of

three years.

            2. *It is hereby declared that :

 

                        (i) any partner of our Firm/any Director of our company has not been

            found to be of unsound mind by a court of competent jurisdiction:

           

(ii) any partner of our Firm/any Director of our company has not been

            found guilty of criminal misappropriation or criminal breach of trust or

            cheating or forgery, or an abetment of or attempt to commit any such offence

            by a court of competent jurisdiction:

 

                        (iii) any partner of our Firm/any Director of our company has not been

            found guilty of or to have knowingly participated in or connived at any fraud,

            dishonesty or misrepresentation against an insurer or an insured in the

            course of any judicial proceeding relating to any policy of insurance or the

            winding up of an insurance company or in the course of an investigation

            the affairs of an insurer: and

                        (iv) any partner of our Firm/any Director of our Company is not a minor.

 

 

 

            3. *It is also declared that the particulars given above are true and that the

licence for which our Firm/Company apply will be used only by our Firm/Company

for soliciting or procuring general insurance business.

                                                             Yours faithfully.

                                                       Signature of applicant.

 

*Strike out portions not required.    Government of India Insur-

                                       ance Stamp vide Note 5.

 

Dated the..................... 19.....

                        (Please see notes below)

 

                                  NOTES

 

   1. The attention of the applicant Is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever in any document required for the purposes of

any of the provisions of that Act, wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees, or with both.

 

        2. Name and the licence number given in the application should be identical

with those shown in the last licence held. If there Is any subsequent change in the

name, the reasons for the same should be stated furnishing documentary evidence

for the same.

 

        3. Any correction or alteration made in the application should be initialled by

the applicant.

 

        4. The application should be filled in, as far as possible, in the English

language.

 

        5. The application should reach the Controller of Insurance before the expiry

of the last licence held by the applicant but not more than three months before

such expiry and "Government of India Insurance" stamp for 1 [Rs. 15] should be

affixed to it. If the application does not reach the Controller of Insurance at least

30 days before the date on which the last licence ceases to be in force, "Government

of India Insurance" stamp to the value of 1 [Rs. 7] should be affixed to the application

by way of penalty. In this connection please also refer to the provisos to rule 16-A

of the Insurance Rules, 1939.

 

        6. Payment in cash or by money order, cheque, postal order, postage or bank

draft is not accepted and will be returned at applicant's cost.

 

 7. No acknowledgment of this application will be sent. If one is required the

application should be sent by registered post (acknowledgment due).

 

APPENDIX 5PB FORM V-PB

 

NOT TRANSFERABLE

                             GOVERNMENT OF INDIA

              2 [OFFICE OF THE CONTROLLER OF INSURANCE]

                                                Licence No...................

                   (See rule 16A of the Insurance Rules, 1939)

 

 

   Licence to act as an insurance agent under Part II of the Insurance Act,

                  1938, for General Insurance Business only

 

   1[To be filled in by the applicant

 

     Name....................... address................................ having paid the prescribed

fee] and having made the necessary declaration is hereby authorized to act as an

insurance agent for there years from............. Simla, dated............ 19.......

 

                                                            Controller of Insurance.

        Signature of licence holder............

 

        The licence Is not valid unless it bears a facsimile of the signature of the

Controller of Insurance and the initials of a person authorized by him in this behalf

and the signature of the licence holder. The latter should put his signature as soon

as the licence is received.

 

                            (See notes below)

                                 NOTES

 

1. If it is desired to renew this licence fora further period, the procedure laid

down in rules 16 and 16-A of the Insurance Rules, 1939, shall be followed, and an

application for renewal should reach the Controller of Insurance before the licence

expires. In this connection attention is also invited to the proviso to rule 16-A of

the Insurance Rules, 1939.

 

        2. This licence authorizes the licence-holder to act as as agent for registered

Insurer and for any class of general insurance business, and therefore no Identifying

mark or note of any description by which the identify of an Insurer might be

established should be placed on the licence.

 

             3. No correction in this licence will be valid unless instialled by the Controller

of Insurance or a person authorized by him in this behalf.

 

 

APPENDIX 5S FORM V-S

 

22. Subs. by G.S.R. 1275. dated 28th May. 196S, published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i). dated 28th May. 1969. [

            Application from a Co-operative Society or Panchayat for a Licence

                        to act as an Insurance Agent

               (See rule 16A of the Insurance Rules, 1939)

To

 

        The Controller of Insurance,

         3 [* * *]

        SIMLA.

        Dear Sir,

 

        It is requested that a licence to act as an Insurance Agent may be granted to

our Co-operative Society/Panchayat. particulars given below-

 

1. Full name of the applicant (In                    1. Co-operative Society/Panchayat.....

   Block Letters)                                       .....................................................

 

2. Full address                                      2. .......................................................

 

2. It is hereby declared that-

 

 

 

             Co-operative Society           *registered

   (i) our______________________has been_______________under the**_______

                Panchayat                   Incorporated.

 

*(Please see footnotes also)**

 

Act............................and Is competent to act as an Insurance agent vide

Sec............................of the above Act;:

 

        (ii) the Society/Panchayat has also been authorized to act as an insur-

ance agent under Its bye-laws, rules and regulations (vide rules/bye-

laws......................);

 

        (iii) the particulars given above are true and that the licence for which

out *Co-operatlve Society/Panchayat apply will be used only by our Co-oper-

ative Society/Panchayat for soliciting or procuring Insurance business; and

        (iv) the undersigned has been duly authorized to sign this application.

        1 [Government of India Insurance Stamp for Rs. 15]

 

                                                              Yours faithfully,

 

Name of Place...................                   Signature with name and designation.

Dated the..........................              (Seal of the Co-operative Society/Panchayat).

_______________________________________________________________________________________________

 

        *Strike out portions not required.

 

**Here mention the name of the Central/State Act, under which the institution

is registered or incorporated.

 

                                 NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever in any document required for the purposes of

any of the provisions of that Act, wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with Imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees, or with both.

 

            2. A licence can be granted to a Co-operative Society/Panchayat registered or

incorporated under any Central or State Act.

 

            3. A copy of the bye-laws, rules or regulations of the applicant certified by Its

President or Chairman must accompany this application.

 

            4. This application should be filled In, as far as possible. in English language.

 

            5. Any correction or alteration made in any answer to the questions In the

application should be initialled by the applicant.

 

6. Payment In cash or by money-order, cheque, postal order, postage stamp

or bank draft Is not accepted and will be returned at applicant's cost.

 

            7. No acknowledgment of this application will be sent. If one Is required the

application should be sent by registered post (acknowledgment due).]

 

APPENDIX 5SA FORM V-SA

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                        Application from a Co-operative Society or Panchayat for

                                    renewal of Licence to act as an Insurance Agent

 

                                    (See rule 16A of the Insurance Rules, 1939)

From

 

            Name of applicant__________________________

            (In Block letters)

 

            Full address_______________________________

            (In Block letters)

 

To

            The Controller of Insurance.

                                                                                                Licence No_________________

                                                                                                Date of expiry.____________

 

Dear Sir.

 

            It is requested that the above licence may be renewed for a further period of

three years.

 

            2. *It is hereby declared that-

                                                *(Please see footnote also)

(i) our *Co-operative Soclety/Panchayat has been *registered/incorpo-

            rated under the **________Act,________ and is competent to act as an

            insurance agent vide Sec._____________of the above Act:

 

                        (ii)the Soclety/Panchayat has also been authorised to act as an insur-

            ance agent under its bye laws, rules, and regulations {vide rule/bye

            laws.............);

 

                        (iii) the particulars given above are true and that the licence for which

            our *Co-operatlve Society/Panchayat apply will be used only by our Co-oper-

            ative Soclety/Panchayat for soliciting or procuring Insurance business: and

 

                        (iv) the undersigned has been duly authorised to sign this application.

            (Government of India Insurance Stamp for Rs. 15.]

 

                                                                                                                        Yours faithfully,

 

Name of Place...............                Signature with name and designation.

Dated the................. 19.....    ¯     (Seal of the Co-operative Soclety/Panchayat)

 

            *Strike out portions not required.

 

            **Here mention the name of the Central/State Act under which the institution

is registered or incorporated.

 

                                                *(Please see notes on the reverse)

 

                               NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever in any document required for the purposes of

any of the provisions of that Act, wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees, or with both.

 

            2. The name and the licence number given in the application should be

identical with those shown in the last licence held. If there is any subsequent change

in the name, the reasons for the same should be stated furnishing documentary

evidence for the same.

 

            3. Any correction or alteration made in the application should be initialled by

the applicant.

 

            4. The application should be filled in, as far as possible, in the English

language.

 

            5. The application should reach the Controller of Insurance before the expiry

of the last licence held by the applicant but not more than three months before

such expiry and "Government of India Insurance" stamp for 1 [Rs. 15] should be

affixed to It. If the application does not reach the Controller of Insurance at least

30 days before the date on which the last licence ceases to be In force, "Government

of India Insurance" Stamp to the value of 1 [Rs. 7] should be affixed to the application

by way of penalty. In this connection also refer to the provisos to rule 16-A of the

Insurance Rules, 1939.

 

            6. Payment in cash or money-order, cheque, postal order, postage stamp or

bank draft is not accepted and will be returned at applicant's cost.

 

            7. No acknowledgment of this application will be sent. If one is required the

application should be sent by registered post (acknowledgment due).

 

Not Transferable]

 

APPENDIX 5SB FORM V-SB

 

22. Subs. by G.S.R. 1275. dated 28th May. 196S, published in the Gazette of India. Extraordinary. Pt. II. Sec. 3 (i). dated 28th May. 1969. [

                         GOVERNMENT OF INDIA

         3 [OFFICE OF THE CONTROLLER OF INSURANCE)

                                                Licence No...........................

               (See rule 16A of the Insurance Rules. 1939)

 

         Licence to act as an Insurance Agent under Part II of the

                          Insurance Act, 1938

 

            Name..................

            Address...............

                      (To be filled in by the applicant)

 

having paid the prescribed fee and having made the necessary declaration is hereby

authorised to act as an Insurance Agent for three years from

 

                                             CONTROLLER OF INSURANCE

 

        Simla, dated the           19.....

        Signature and seal of licence holder

 

 

This Licence is not valid unless it bears a facsimile of the signature of the

Controller of the Insurance and the initials of a person authorized by him in this

behalf and the signature of the licence holder. The latter should put his signature

and seal as soon as the licence is received.

                      (See notes on the reverse)

                             NOTES

 

            1. If it is desired to renew this licence for a further period, the procedure laid

down in rules 16 and 16-A of the Insurance Rules, 1939, shall be followed and an

application for renewal should reach the Controller of Insurance before the licence

expires. In this connection, attention is also invited to the provisos to rule 16-A of

the Insurance Rules, 1939.

 

            2. No correction in this licence will be valid unless initialled by the Controller

of Insurance or a person authorized by him in this behalf.

 

 

APPENDIX 5SS FORM V-SS

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

            Application from a Society registered under the Societies Registra-

                        tion Act, 1860 for a Licence to act as an Insurance Agent

 

                     (See rule 16A of the Insurance Rules. 1939)

To

      The Controller of Insurance.

      Simla.

Dear Sir,

 

            It is requested that a licence to act as an INSURANCE AGENT may be granted

to our Society with particulars given below-

 

1. Full name of the applicant                   1. Society..............................................

   (In Block Letters)

2. Full address                                 2. .........................................................

 

II. It is hereby declared that-                    .........................................................

 

            (i) Our Society has been 'registered/incorporated under the Societies

Registration Act. 1860 (21 of 1860)

 

            (ii) the Society has been authorized to act as an insurance agent under

its bye-laws, rules and regulations (vide rule/bye-law............)

 

            (ii) the Society has been authorized to act as an insurance agent under

its bye-laws, rules and regulations (vide rule/bye-law........)

 

(iii) the particulars given above are true and that the licence for which

our Society apply will be used only by our Society for soliciting or procuring

insurance business: and

            (iv) the undersigned has been duly authorized to sign this application.

                                                       .Yours faithfully,

               2 ["Government of India Insurance Stamp" for Rs. 15]

 

Name of Place...........................,

Date.................................

                                              Signature with name and designation

                                                         (Seal of the Society).

 

*Strike out portions not required.

 

 

 

                                 NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Insurance Act

1938. which provides that whenever in any document required for the purposes of

any of the provisions of that Act wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees, or with both.

 

            2. A licence can be granted to a Society registered or incorporated under the

Societies Registration Act, 1960.

 

            3. A copy of the bye-laws, rules or regulation of the applicant certified by its

President or Chairman must accompany this application.

 

            4. The application should be filled in, as far possible, in English language.

 

            5. Any correction or alteration made in any answer to the question in the

application should be initialled by the applicant.

 

6. Payment in cash or by money-order, cheque, postage stamp or bank draft

Is not accepted and will be returned at applicant's cost.

 

            7. No acknowledgment of this application will be sent. If one is required the

application should be sent by registered post (acknowledgment due.)]

 

APPENDIX 5SSA FORM V-SSA

 

Application from a society registered under the Societies Registration Act,

          1860, for the renewal of a Licence to act as an Insurance Agent

                     (See rule 16A of the Insurance Rules. 1939)

From

            Name of applicant.......................

            Full address.............................                                                  

                                                 ....................................................

                                                                 (In Block Letters)

                                                  ....................................................

                                                  ....................................................

                                                          (In Block Letters)

 

To

 

            The Controller of Insurance, Simla,

            Licence No..........................

            Date of expiry......................

 

Dear Sir,

 

            It is requested that the above licence may be renewed for a further period of

three years.

 

            2. *It is hereby declared that

                             *(Please see footnote also)

 

            (i) Out Society has been 'registered/incorporated under the Societies

Registration Act, 1860:

(ii) the Society has also been authorized to act as an insurance agent

under its bye-laws, rules and regulations (vide rule/bye-law.....);

 

            (iii) the particulars given above are true and that the licence for which

our *Soclety apply will be used only by our Society for soliciting or procuring

insurance business; and

            (iv) the undersigned has been duly authorized to sign this application.

                                                    Yours faithfully

                                        Signature with name and designation.

                                                 (Seal of the Society)

 

1 [Government of India Insurance Stamp for Rs. 15]

Name of place...................

Dated.........           19......

                                                (Please see notes below)

                                       Strike out portions not required.

 

                                   NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever in any document required for the purpose of

any of the provisions of that Act. wilfully makes a statement false in any material

particular knowing it to be false, shall be punishable with imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees, or with both.

 

2. The name and the licence number given in the application should be

identical with those shown in the last licence held. If there is any subsequent change

in the name, the reason for the same should be stated furnishing documentary

evidence for the same.

 

            3. Any correction or alteration made in the application should be initialled by

the applicant.

 

            4. The application should be filled In as far as possible in the English language.

 

            5. The application should reach the Controller of Insurance before the date of

expiry of the last licence held by the applicant but not more, than three months

before such expiry and "Government of India Insurance" stamp for 1 [Rs. 151 should

be affixed to it if the application does not reach the Controller of Insurance at least

30 days before the date on which the last licence ceases to be in force, "Government

of India Insurance" stamp to the value of 1 [Rs. 71 should be affixed to the application

by way of penalty. In this connection also refer to the provisos to rule 16-A of the

Insurance Rules, 1939.

 

            6. Payment in cash or money-order, cheque, postal order, postage stamp or

bank draft is not accepted and will be returned at applicant's cost.

 

            7. No acknowledgment of this application will be sent. If one is required the

application should be sent by registered post (acknowledgment due).

 

        NOT TRANSFERABLE.

 

APPENDIX 5SSB FORM V-SSB

 

Government of India

                        Office of the Controller of Insurance

 

                                                                                                 Licence No..............

                                     (See rule 16A of the Insurance Rules, 1939)

 

                            Licence to act as an Insurance Agent under Part II of

                                                               the Insurance Act, 1938

 

                                                                                                 Name................

To be filled In by the                            Address.............

applicant                                                                                    ....................

 

having paid the prescribed fee and having made the necessary declaration is hereby

authorized to act as an Insurance Agent for three years from.................. Simla.

dated the................. 19......

 

                                                                                                             Controller of Insurance.

Signature and seal of licence holder..............................

 

            This licence is not valid unless it bears a facsimile of the signature of the

Controller of Insurance and the initials of,a person authorized by him in this behalf

and the signature of the licence holder. The latter should put his signature and seal

as soon as the licence is received.

 

                                                            (See notes below)

                                                                 NOTES

 

            1. If it is desired to renew this licence for a further period, the procedure laid

down In rules 16 and 16-A of the Insurance Rules, 1939, shall be followed, and an

application for renewal should reach the Controller of Insurance before the licence

expires. In this connection, attention is also invited to the provisos to rule 16-A of

the Insurance Rules, 1939,

 

2. No correction in this licence will be valid unless Initialled by the Controller

of Insurance or a person authorized by him in this behalf.

 

APPENDIX 5C FORM V-C

 

Application for a certificate to act as a Principal/Chief/Special Agent.

                                                                        [See rule 16D (a)]

To

 

            The Controller of Insurance,

            1 [* * *] Simla.

Dear Sir,

 

            It is requested that a certificate to act as a Principal/Chief/Special Agent may

be granted to me/our Firm/our Company. I/We am/are will be working

for....................................................      and      the      functions      that

will................................... be entrusted to me/us are..............,....'................

 

            2. It is hereby declared that-

 

            (i) I/any partner of our Firm/any director of our company have/has not

            been found to be of unsound mind by a Court of competent jurisdiction;

 

            (ii) I/any partner of our Firm/any director of our company have/has not

            been found guilty of criminal misappropriation or criminal breach of trust, or

            cheating or forgery, or an abetment of or attempt to commit any such offence

            by a Court of competent jurisdiction:

 

(iii) I/any partner of our Firm/any director of our company have/has not

            been found guilty of or to have knowingly participated in or connived at any

            fraud, dishonesty or misrepresentation against an insurer or an insured in

            the course of any judicial proceeding relating to any policy or insurance or the

            winding up of an insurance company or in the course of an investigation of

            the affairs of an insurer; and

 

            (iv) I/any partner of our Firm/any director of our company am/is not a

            minor.

 

            3. It is also declared that the particulars given below are true and that the

certificate for which I/our company apply will be used only by myself/our Firm/our

company for causing insurance business to be solicited or procured.

 

1. Full name of the applicant (in Block     (1)........................

   letters)

 

   Individual Mr./Mrs./Miss.

                                 Company

                                  Firm

 

2. Full address.                            (2)

 

(3)    (i) (In the case of a firm) the names(3)

            of all the partners therein

            (ii) (In this case of a company) the

            names of the directors.

 

(4) In the case of an individual            (4)

(a) Date of birth in Christian Era          (a)

(b) Age on the date of application,         (b)

 

(5) Did the applicant ever apply for a

certificate   to   act   as   a

Principal/Chief/Special Agent

before ? If so, state

 

(a) Whether the certificate was granted,    (a)

and in that case the No. and date of

expiry of the last certificate;

(b) Whether the certificate was refused,    (b)

In that case the No. and date of the

letter conveying refusal of the

certificate:

 

(c) Whether the certificate was granted     (c)

but subsequently cancelled. In that

case the No. and date of the letter

conveying cancellation of certificate.

 

(6) If the applicant holds a licence to act (6)

as an Insurance Agent and/or a

certificate or certificates to act as a

Principal Agent and/or a Chief

Agent and/or a Special Agent, state

No. and date of expiry of licence

and/or certificate or certificates

held. If no licence or certificate is

held, say Nil. If a licence or

certificate has been applied for,

state the date of the application.

Government of India Insurance Stamps

Principal Agent                             Rs. 25/-

Chief Agent                                 Rs. 25/-

Special Agent                               RS.10/-

 

            (Please see notes below)

Name of place..................

Date:......

 

            Yours faithfully

                                                                                                (Signature of applicant).

                                                                        NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Act, which provides

that whoever in any document required for the purposes of any of the provisions of

that Act, wilfully makes a statement false in any material particular, knowing it to

be false, shall be punishable with imprisonment for a term which may extend to

three years, or with fine which may extend to one thousand rupees or with both.

 

            2. The fee for obtaining a certificate to act as a Principal Agent and a Chief

Agent i Rs. 25 and the fee for obtaining a certificate to act as a Special Agent is

Rs. 10.

 

            3. The application should be filled in the English language.

 

            4. Any correction or alteration made in any answer to the questions in the

application should be initialled by the applicant.

 

            5. Payment in cash or by money-order, cheque, postal order, postage stamp

or bank draft is not accepted and will be returned at the applicant's cost.

 

            6. No acknowledgment of this application will be sent. If one is required, the

application should be sent by registered post (acknowledgment due).

 

7. In the case of a special agent it is not necessary to state the functions

entrusted to him.

 

APPENDIX 5D Form V-D

 

Application for renewal of certificate to act as a

                                                            Principal/Chief/Special Agent.

 

                                                            [See rule 16D (a)]

From Mr./Mrs./Miss./Messrs.

                                                (Name of Principal Chief/Special Agent)

                                                                        (In block letters)

            Full address

            (In block letters)

To

 

            The Controller of Insurance,

            1 [* * *] Simla.

Dear Sir,

            Certificate No.

            Date of expiry.

 

            It is requested that the above certificate may be renewed for a further period

of one year.

 

            *2. It is hereby declared that since the date of my/our Firm's/our company's

last application for a certificate-

 

(i) I/any partner of our firm/any director of our company have/has not

been found to be of unsound mind by a Court of competent jurisdiction:

 

            (ii) I/any partner of our firm/any director of our company have/has not

been found guilty of criminal misappropriation or criminal breach of trust or

cheating or forgery or an abetment of or attempt to commit any such offence

by a Court of competent Jurisdiction:

 

            (iii) I/any partner of our firm/any director of our company have/has not

been found guilty of or to have knowingly participated in or connived at any

fraud, dishonesty or misrepresentation against an insurer or an insured in

the course of any judicial proceedings relating to any policy of insurance or

the winding up of an insurance company or in the course of an investigation

of the affairs of an insurer: and

 

            (iv) my/our firm's/our company's certificate has not been cancelled at

any time by the Controller of Insurance.

 

            3. A certificate from the insurer for whom I am/we are working, viz.

.......................................................................................

                                                            (Name of Insurer)

 

to the effect that In the preceding calendar year the provisions of Cls. 2 and 3 of

Part A/Cls. 2 and 4 of Part B/Cls. 2 and 3 of Part C of the Sixth Schedule to the

Insurance Act, 1938, have been complied with by me/us is attached. The functions

entrusted to me/us by the said insurer since the certificate was last renewed or

issued were

 

 

a licence to act as an Insurance Agent

                                                                                    No......................expiring

                                                                                    on..................................................

                                                                                    a certificate to act as a Principal Agent

                                                                                    No. P.A........expiring on..................

            4. I/We hold/have applied for  a certificate to act as a Chief Agent No.

                                                                                    C.A............... expiring on...............

                                                                                    a certificate to act as a Special Agent

                                                                                    No. S.A..... expiring on...........

                                                                                    a licence to act as an Insurance Agent

                                                                                    a certificate to act as a Principal Agent

            5. I/We neither hold nor have       a certificate to act as a Chief Agent

            applied for                         a certificate to act as a Special Agent.

 

            6. It is also declared that the facts stated herein are true and that the certificate

for which I/we hereby apply will be used only by myself/ourselves for causing

insurance business to be solicited or procured.

 

                                                            Government of India Insur-

                                                            ance Stamp (s) vide note 5

                       

                                                                                                            Yours faithfully,

Dated the........ 19......          (Signature of the applicant).

 

                                                                        NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Act, which provides

that whoever In any document required for the purposes of any of the provisions of

the Act, wilfully makes a statement false in any material particular knowing it to

be false, shall be punishable with imprisonment for a term which may extend to

three years, or with fine which may extend to one thousand rupees, or with both.

 

            2. The name and the certificate number given in the application should be

identical with those shown in the last certificate held. If there is any subsequent

change in the name, the reasons for the same should be stated furnishing

documentary evidence for the same.

 

 

3. Any correction or alteration made in any answer to the questions in the

application should be initialled by the applicant.

 

            4. The application should be filled in the English language.

 

            5. The application should reach the Controller of Insurance earlier than three

months before, but not later than twelve months after the last certificate held by

the applicant expires and a "Government of India Insurance Stamp" for Rs. 25 in

the case of a principal agent or a chief agent and for Rs. 10 In the case of a special

agent should be affixed to it.

 

            An additional stamp for Rs. 5 in the case of a principal agent or a chief agent

and Rs. 3 in the case of a special agent must be affixed, if the application reaches

the Controller of Insurance on or after the date on which the last certificate held by

the applicant ceases to be in force. Any application reaching the Controller of

Insurance after a period of twelve months from that date, will be treated as an

application for a fresh certificate.

 

            6. Payment in cash or by money order, cheque, postal order, postage stamp

or bank draft is not accepted and will be returned at applicant's cost.

 

            7. No acknowledgment of this application will be sent. If one is required, the

application should be sent by registered post (acknowledgment due).

 

            8. In the case of a special agent it is not necessary to state the functions

entrusted to him.

 

 

                                                            (Not Transferable)

 

 

APPENDIX 5E FORM V-E

 

Government of India

                                     1[OFFICE OF THE CONTROLLER OF INSURANCE]

 

                                                                           Govt. Crest

 

            CERTIFICATE NO.

                                                                        (See rule l6D (c)]

 

                        Certificate to act as Principal/Special Agent under Sec. 42-A of

                                                            the Insurance Act, 1938

 

Name.........

Address........

 

having paid the prescribed fee and having made the necessary declaration Is hereby

authorised to act as a Principal/Chief/Special Agent for one year from ...................

Simla, dated the............ 19.....

 

Signature of the Certificate holder.

                                                                                                Controller of Insurance

 

            The certificate is not valid unless it bears a facsimile of the signature of the

Controller of Insurance and the initials of a person authorised by him In this behalf

and the signature of the certificate holder. The latter should put his signature as

soon as the certificate is received.

 

NOTES

 

            1. If It is desired to renew his certificate for a further period, the procedure

laid down in rule 16-D of the Insurance Rules. 1939, shall be followed, and an

application for renewal should reach the Controller of Insurance not earlier than

three months before, but not later than twelve months after, the certificate expires.

            2. No correction in this certificate will be valid unless initialled by the

Controller of Insurance or a person authorised by him In this behalf.

 

APPENDIX 5F FORM V-F

 

From

            (Name)

            (Occupation)

            (Address)

To

            The Director

 

                                                     Insurance Co. Ltd.

 

            In connection with my request for the transfer of Shares No........................... ..

....................................................................of your company to my name. I hereby

solemnly declare that out of the above shares. I propose

 

(1) to hold Shares Nos.                              for my benefit

 

(2) to hold

 

(i)         (a) Shares Nos.                               as a nominee..

             (b) Jointly with (Name and Address)           for the benefit of

                                    (Name)

                                    (Occupation)

                                    (Address)

(ii)   (a) Shares No.                                as a nominee.

             (b) jointly with (Name and Address)           for the benefit of

                                    (Name)

                                    (Occupation)

                                    (Address)

 

(iii) (a) Shares Nos.                               as a nominee.

             (b) jointly with (Name and Address)           for the benefit of

                                    (Name)

                                    (Occupation)

                                    (Address)

 

(iv)   (a) Shares No.                                 as a nominee.

             (b) jointly with (Name and Address)            for the benefit of

                                    (Name)

                                    (Occupation)

                                    (Address)

 

Made at............... A.M. on................ day the...........

                                                            P.M.

at................................                   Signature

In the presence of (Witness) Signature

            Name and Address.

 

                                                                        NOTES

 

            1. If the beneficial interest of any person is limited in extent in any way, the

extent or beneficial Interest should be clearly stated.

 

            2. Strike of these words In cases where the nominee does not hold the shares

jointly with any other person or persons.

 

            3. Each beneficial ownership is to be stated separately.

 

APPENDIX 5G FORM V-G

 

From

            (Name)

            (Occupation)

            (Address)

To

            The Directors

                        Insurance Co.. Ltd.

 

            In connection with shares Nos................ of your company standing in your

share register in the name of (name).......... (occupation) .........(address)

 

            I hereby solemnly declare that out of the above shares.........

 

                        (i) I am the sole beneficial owner of shares Nos..... and I acquired the

            beneficial Interest before the commencement of the Insurance (Amendment)

            Act, 1950.

                                    on the..................day of.........   19....

                        (ii) in respect of shares Nos................I and (name)........

            ........(occupation)....................(address)............

            ........and (name)......................(occupation)..........

            ........(address)....................are joint beneficial owners, my

            ........interest in these shares being.........and was acquired......

            ........limited to................................

            ........before the commencement of the Insurance (Amendment)

            Act, 1950

 

            on the..............................day of................................. 19...............

Made on...................................... day the...............................19..........................

at in presence of............................. (witness) Signature.

 

Name and Address

Signature.

 

            I..............of.....................in whose name the shares No             of your

company stand in your share register, hereby recognise In full the interest claimed

in respect of the said shares and in token thereof have countersigned the above

declaration.

 

Signed on the.............day of the.........19.......

 

                                                                                                                        Signature.

            In the presence of

            (Witness) Signature

            Name and Address

 

 

APPENDIX 5GG FORM V-GG

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                                           

                                                                        (See rule 17AA)

 

From

            (Name)

            (Occupation)

            (Address)

 

To

 

            The Directors,

            Insurance Co. Ltd..

 

            In connection with shares No............of your company standing in your share

register in   the name of (name).................(occupation).....................(ad-

dress).............

 

            I hereby solemnly declare that out of the above shares,

 

            (i) I am the sole beneficial owner of shares Nos. .... ..and I acquired the beneficial

interest before the commencement of the Insurance (Amendment) Act, 1968 (62 of

1968),

 

            on the...........day of.........................19.

 

(ii) in respect of shares Nos...................I and (name)........(occupa-

tion).......................(address) and (name).........(occupation)............................ (ad-

dress) ..............are joint beneficial owners, my interest in these shares being limited

to and was acquired before the commencement of the Insurance (Amendment) Act,

1968 (62 of 1968).

 

            on the.....................day of...............19.....

 

            Made on............day the......................19 at

            in the presence of.................................(Witness) signature

 

            Name and address                             Signature.

 

            I..............of.........................In whose name, the shares Nos................of your

company stand In your share register, hereby recognise In full the interest claimed

In respect of the said shares and in token thereof have countersigned the above

declaration.

 

            Signed on the......................day of the.......19......

In the presence of

            (Witness) Signature

            Name and address.                              Signature.

 

APPENDIX 5H FORM V-H

 

(See rule 17C)

                                               Statement of the bases of premiums.

Name of the insurer

 

            1.    Basis:

                        Mortality

                        Rate of interest

                        Expenses

                        Bonus loading

 

            The above basis is the basis underlying the premiums in Tables Nos..........of

the prospectus dated...........issued by...........Company Limited.

 

            2.    Basis:

                        Mortality

                        Rate of interest

                        Expenses

                        Bonus loading

 

            The above basis Is the basis underlying the premiums in Tables Nos..........of

the prospectus dated................issued by........Company Limited.

 

            I hereby certify that the bases underlying the premium rates offered by

Company Limited are as set out above.

 

Station

                                                                                                                        Actuary

Date

                                                                        NOTES

 

1. The premiums may be grouped according to bases and into as many groups

as may be necessary and set out one group after another till all the premium tables

and premiums offered outside the tables are covered.

 

            2. If different bases have been used for different ages and terms in the same

table of rates, these should be stated separately.

 

 

 

APPENDIX 6A FORM VI-A

 

[See rule 19-A (i)] Register of members (excluding membership merely by virtue of holding policies is sued by the society) proprietors and shareholders Serial Date of Full Address Occu Date on Remarks No becoming name pation which   member.    ceased to   proprietor,    be a   or share    member,   holder, as    etc.   defined in       heading      1 2 3 4 5 6 7       

 

APPENDIX 6B FROM VI-B

 

[See rule 19-A (ii.)] Register ofDirectors, Manager, Secretary and other Officers Serial Full Address Occupa Date when Date of Remarks No. name tion other he com ceasing to     than In the menced hold the     service of to hold the office     the society office in question      question   1 2 3 4 5 6 7        NOTES 1. A separate page must be used for each title of office, viz. Secretary. 2. "Remarks" column should show the mode of vacating office, whether by death, resignation, retirement, etc.

 

APPENDIX 6C FORM VI-C

 

[See rule 19-A (iii)] Proposal Register Serial Date and Name How Date of Number Date of Remarks No. number and disposed accep and date despatch   of address of tance. if of policy* of policy*   proposal of accepted*      proposer      1 2 3 4 5 6 7 8                 NOTE.In case proposal Is rejected or does not result In a policy, against columns 4 to 7 the amount of advance or deposit received, if any, and the date of Its adjustment with reasons or the date of the Its refund should be stated.

 

APPENDIX 6D FORM VI-D

 

[See rule 19-A (iv)] Register of Policies issued Serial No. 1. Number and date of proposal 2. Policy number and date of commencement of insur 3. Date and mode of exit with cross-reference to the exit register concerned. 4. Name occupation and address of life insure. 5. Name and address of person paying the premiums of other than life insured and his relationship to life insured. 6. Name and address of each nominee and his relation-ship to the policy-holder and the date of registration of each nomination and of receipt of notice of cancel-lation or change thereof, if any. 7. Term of policy and full particulars of table under which the policy is issued. 8. Sum insured $ 9. Premium Amount of each instalment and due date of final instalment. 10. **The percentage of the first year and renewal premiums prescribed in the society's rules for expenses. 11. Amount that can be expended on the basis of coloumns 9 and 10. 12. Due dates of all instalments in each calender year. 13. If assigned, name and address of each assignee and dates on which the respective notices were received.

                                                                                    NOTES

 

            *Cross-reference should be given to other policies,if any, if the contingencies

on the happening of which the sums Insured are payable under those policies relate

to the same person as under this policy.

 

            The entries regarding exist should be shown in pencil, when the exist is

capable of revival and erased on subsequent revival. When revival is no longer

possible the pencil entries should be replaced by ink.

 

            In case of contingencies other than death. In columns 4 and 5, substitute for

the words "the life Insured" the words "the person to whom the contingencies on

the happening of which sums are payable relate".

 

$ If the sum insured excluding bonus varies during the term of the policy,

both the maximum and minimum of the sum insured should be stated. Where a

policy has been made paid up, necessary correction shall be made to the sum

assured by showing the paid-up amount and the date of making It paid-up shall

also be indicated.

 

            **If a uniform percentage (Irrespective of the tables and premium terms of

policies) is fixed for expenses of management or if a separate register of premium

receipts for each group of premiums having the same percentage allowance for

expenses is maintained this column need to be filled in.

 

APPENDIX 6E FORM VI-E

 

[See rule 19-A (v)] Premium Register in respect of all premiums falling due during the month of................. 19....... Policy Name of Due date Date of Amount Amount Particulars No. the person of pre payment of pre out of the of any to whom mium of pre mium premium other the policy mium stated In payment was issued.    column 5 as fees.      that can fines, etc.      bespent realized on      as ex the policy      penses of during the      manage month      ment as       per rules       of the soci       ety (to       them       nearest       anna)  1. 2 3 4 5 6 7       

 

NOTES

 

1. The register should be closed at the end of each month and the closing

should be completed within a month.

 

2. Separate register should be maintained In respect of each of the contingen-

cies specified in or prescribed under Section 65(2) of the Insurance Act, 1938.

 

3. Particular relating to a new policy shall be entered in the month In which

the first premium Is received. Particulars relating to a revived policy shall be entered

In the month in which the policy is revived.

 

4. If a uniform percentage Is fixed for expenses of management, irrespective

of the tables and premium-terms of policies or if a separate register of premium

receipts for each group of premiums having the same percentage allowance for

expenses is maintained, column 6 need not be filled in.

 

5. A society may, if it -considers necessary and desirable, maintain a separate

register of the particulars specified In col. (7), provided that the separate register

gives also the Information In columns (1) and (2) with full cross-references with this

register.

 

APPENDIX 6F FORM VI-F

 

[See rule 19-A (vi)] Lapse Register Date of Policy Name Date of Due date Amount of Date of entry in Number of the commence- of first any loan revival (if this register Insured ment-of unpaid granted on any)    insurance premium the       security of       the policy       and date       when the       loan is       written off 1 2 3 4 5 6 7        NOTE. The register should be closed at the end of each month and the closing shall be completed with a month

 

APPENDIX 6G FORM VI-G

 

[See rule 19-A (vii)] Register of claims not including annuities Serial Policy Name Date Name Date Date Total Net Cause Date No. No. of life of in add of rec of pay sum sum of diff of any   insu tima ress eipt of ment insu paid In erence ground   red tion of and claim red cash if any for    the title of pap with bet rejec    hap claim ers bonus ween tion. If    pening ant   addi (8) any    of the    tions' and (9)     contin    up-to-       gency    date    1 2 3 4 5 6 7 8 9 10 11            NOTES 1. Where there is a series of policies on the same life, each policy must be entered separately. 2. A separate register should be maintained for each class of contingency specified In or prescribed under Sec. 65 (2) of the Insurance Act, 1938, against which policies have been Issued.

 

APPENDIX 6H FORM VI-H

 

[See rule 19-A (viii) Register of claims for annuities or other periodical payments Serial No.,.,,...,....,... Policy No.............. Name of life insured Date of Intimation of the happening....... Date of receipt of of the contingency..... Claim papers.............. Name Address of claimant Title Date of first payment...................Date and ground of rejection........................ Date and cause of cessation of payments r Due dates Amounts due Amounts paid in Cause of difference,   cash and date If any 1 2 3 4     NOTE.A separate register should be maintained for each plass of contin gency specified In or prescribed under See. 65 (2) of the Insurance Act. 1938, In respect of which a periodical sum is Insured to be paid.

 

APPENDIX 6I FORM VI-I

 

[See rule 19-A (ix)] Register of Agents Serial Name. Date of Terms of Date when Remarks Number address and appointment remunera ceased to be   other tion Agent  occupations     1 2 3 4 5 6      

 

APPENDIX 7 FORM VII

 

(Sec rule 20) Revenue Account of the (here insert name of provident society) for the year ending......... 19......... Dividends to shareholders Rs. P. Balance of funds at the begin Rs.P payable on for the year end ning of the year ing (This Is to be stated here     Rs.P. by Societies not supplying a Funds specified sepa   Profit and Loss Account.) rately according to the   Claims under policies (Includ classes of contingency   ing provision for claims due set forth in Sec. 65.   or Intimated) Rs. P. Investment Reserve   To be specified separately ac Fund.   cording to the classes of con Dividend Reserve Fund   tingency set forth In Sec. 65 Other Funds (to be sepa Other classes (to be sepa rately described).   rately specified).       annuities Shareholders' capital paid up at Surrenders Including surren the beginning of the year. ders of bonus Shareholders' capital paid up Bonuses In cash during the year. Bonuses In reduction of pre Premiums miums expenses of management.   1st Re Single 1. Commission to agents   year newal prms. 2. Commission and allow   prms. prms.   ances other than those       payments contained In   Rs.P. Rs.P. Rs.P. Item 1       3. Salaries, etc. (other than To be     contained In Items 1 and speci     2) fied se     4. Travelling expenses para     5. Directors' fees tely     6. Auditors' fees accor     7. Actuarial fees ding     8. Medical fees to the     9. Law charges clas     10. Advertisements ses of     11. Printing and statloneiy contin     12. Rents for offices belonging gency     to and occupied by the set for     Society. th In     13. Rents to other offices occu Sec-65.     pied by the Society. Insur     14. Other expenses of manage ing other     ment (to be specified) benefits     Bad debts (to be     Other payments (accounts to separa     be specified). tely spe     Shareholders' capital paid up cified).     at the end of the year as per Total     balance-sheet. prem       iums.     Profit transferred to Profit Rs. P. Consideration for annuities Rs. P.   and Loss Account (If a Profit   granted    and Loss Account is submit   Rs. P.    ted).   Interest dividends and    Balance of funds at the end   rents    of the year as per balance-   Less Income tax    sheet       Rs. P.   Entrance lees    Funds, specified separately          Fines    according to the classes of   Other income (accounts to be    contingency set forth in Sec. 65   specified).    Investment Reserve Fund   (Loss transferred to Profit    Dividend Reserve Fund   and Loss Account If a Profit    Other funds (to be   and Loss Account is submit    separately described).   ted).          

 

                                    Notes relating to the Revenue Account-(Form Vli)

 

            1. All items in (his account shall be net amounts after deduction of the

amounts paid and received in respect of re-assurances of the society's risks.

 

2. A society transacting more than one class of business shall show in its

accounts the premium income, the claims and the funds separately for business

under each class of contingency prescribed or authorized under Section 65 (see Rule 18).

 

            3. If any sum has been deducted from the expenses and credit has been taken

for it in the balance-sheet as an asset the sum so deducted shall be shovyn in a

separate statement, as follows :

 

            Statement regarding    preliminary expenses, etc.   submitted

            by the...........   forthenearending..........   19......

 

Balance at beginning of year either of the adverse balance of any

            profit and loss or revenue account or such bad debts and

            preliminary and other expenses as may not have been in-

            cluded in the profit and loss or revenue account either as loss

            or outgo but for which credit is taken in the balance-sheet as

            assets        ..        ..        ..        ..          Rs.

 

Addition hereto during the year not. shown as loss or outgo in either

            the profit and loss or revenue account        ..        Rs.

 

                                                                                                             Total Rs.

 

Less amount written off during the year as per profit and loss or

            revenue account        ..        ..        .,        Rs.

 

Balance at the end of year still shown as assets in the balance-

            sheet        ....        ..        ..         Rs.

            4. The society may, if it so desires, show in this account the amount of

commission on new business separately from commission on renewal premiums.

 

5. The items on the income side shall relate to income whether actually

received or not and the items on the expenditure side shall relate to expenditure

whether actually paid or not.

 

            6. Any office premises which form part of the assets of any fund of the society

shall be treated as an interest earning investment and accordingly in the revenue

account a fair rent for the premises shall be included under the heading "Interest,

Dividends and Rents" and a proper charge for the use thereof shall be included in

the appropriate place in the expenses of management.

 

            7. The following information shall be supplied in addition, namely, the gross

premium income for each class of contingency for which the net premium income

is shown separately In the revenue account and a statement In Form VII-A of the

particulars specified therein. (See note 1).

 

APPENDIX 7A FORM VII-A

 

Submitted by the.......................society...............for the year ending............19.... Policies Policies Annuities Marriage And so on for Insuring insuring   policies each money to be money to be     contingency paid on paid only on     specified in death only survivance or     or prescribed   earlier death     under Sec.            65 (2) of the            Insurance            Act, 1938. for            which            separate            account is No. Sum Revisionary No. Sum Revisionary No. Sum No. Sum required to   Assured bonus Assured bonus addition Insured insured be prepared - Rs. Rs. Rs. Rs. Rs. Rs. (1) Policies            at end of            previous            year.            (2) New poli            cies Issued            as per            Statement            Form IX.            (3) Old poli            cies revived.            (4) Old poli            cies            changed            and In            creased.            (5) Bonus            additions al            lotted            Total            Discon            tinued dur No Rs. Rs. No. Rs. Rs. No. Rs No. Rs. ing year.            (6) *By            death            (a) amount            payable            (b) .amount            not payable.            (7) By matu            rity or the            happening            of the con-            gencies in            sured against            (each contin            gency being            shown sepa            rately).            (8) By expiry            of term            (9) By surren            der of            (i) policy and            (ii) bonuses            (10) By forfei            ture or lapse..            (11) By            change and            decrease            (12) By being            not taken up,            Total            Total existing            at the            end of the           year            *NOTE.For sum assured and bonuses, the amount actually payable as per rules of the society should be shown against Item (6) (a), while the difference between the total sum assured and the actual amount payable on policies subject to lien becoming claims by death should be shown against (6) (b). The columns for number of policies should be left blank against item (6) (b).

 

APPENDIX 8 FORM VIII

 

(See rule 20) Balance-Sheet of.......as at........day of.. ....19..... Rs. P. Loans Rs. P. Shareholder's capital (each On Loans mortgages of property class be stated separately) On security of municipal and    other public rates.    On stocks and shares Authorized. On society's policies within their    surrender value Share of Rs. each Rs. On personal security    To other provident societies and    insurers Subscribed Investments(f)    Deposit with the Reserve Bank of    India (Securities to be specified). Share of Rs. each Rs. Indian Government Securities.    State Government Securities. Called up. British. British Colonial and Brit    ish Dominion Government Secu    rities Shares of Rs. each Rs. Rs. P. Foreign Government Securities Rs. P.   Indian Municipal Securities    British and Colonial Securities    Foreign Securities Less unpaid calls Rs. Bonds, Debentures, Stocks and    other securities whereon Interest Balance of Funds Is guaranteed by the Indian Gov    ernment or a State Government. To be specified separately as Bonds, Debentures, Stocks and shown In the Revenue other securities whereon Interest Account (Form VII). Is guaranteed by the British or    any Colonial Government. Balance of Profit and Loss Bonds, Debentures, Stocks and Account. other Securities whereon Interest Debenture stock percent. Is guaranteed by any Foreign    Government. Loans and advances (a) Debentures of any railway In    India. Bills payable (a) Debentures of any railway out of    India. Estimated liability in respect Preference or guaranteed shares of outstanding claims (b)  of any railway In India. * Preference of guaranteed shares * of any railway out of India. To be stated separately in Railway Ordinary Stocks (i) in respect of each fund shown India (ii) out of India. In the Revenue Account Other Debentures and Deben (Form VII) ture. Annuities due and unpaid (b) Stock of Companies Incorporated    (i) in India, (ii) out of India. Outstanding dividends Other guaranteed and preference    stocks and shares of Companies    Incorporated (i) in India, (ii) out of   India. Sundry creditors (Including Other ordinary Stocks and outstanding and accruing shares of Companies Incorpo expenses and taxes (a). rated (ii) in India, (ii) out of India. Other sums owing by the    society (a)    Contingent liabilities (to be Holdings in Subsidiary Compa- specified) (c) nies.    House property (i) in India, (ii) out    of India.    Other Investments (to be speci    fied).    Agent's Balances.    Outstanding premiums (b) (d).    Interest, dividends and rents out    standing (b).   Rs. P. Interest, dividends and rents ac Rs. P.   cruing but not due (b).    Sundry debtors.    Bills receivable.    Cash    At bankers on Deposit Account.    At bankers on Current Account    and in hand.    Other Accounts to be specified    (e). 

                                                notes to Balance Sheet-Form VIII

 

            (a) If the society has deposited security as to cover in respect of any of these

Items the amount and nature of the securities so deposited shall be clearly indicated

on the face of the balance-sheet.

 

(b) These Items are or have been included in the corresponding items in the

revenue account or profit and loss account. Outstanding and accruing interest,

dividend and rents shall be shown after deduction of income-tax or the income-tax

shall be provided for amongst the liabilities on the other side of the balance-sheet.

 

            (c) Such items as amount of liability in respect of bills, discounted, uncalled

capital in respect of other investments, etc. shall be shown in their several categories

under the heading "contingent liabilities" or the appropriate Items on the assets

side shall be set out in such detail as will clearly indicate the amount of uncalled

capital.

 

            (d) Either this Item shall be shown net or the commission shall, be provided

for amongst the liabilities on the other side of the balance-sheet.

 

            (e) Under this heading shall be included such items as the following which

shall be shown under separate heading suitably described :

 

                        Office furniture, goodwill, preliminary, formation and organization ex-

            penses, development expenditure account, discount on debentures issued,

            other expenditure carried forward to be written off in future years adverse

            balance of profit and loss account, etc. The amounts Included in the balance-

            sheet shall not be in excess.

 

            (f) Where any part of the assets of a provident society Is deposited in any place

outside the States as security for the owners of policies issued in that place the

balance-sheet shall state that part of the assets has been so deposited and, if any

such part forms part of the Insurance and In respect of any contingency specified

in, or prescribed under sub-section (2) of Section 65 of the Insurance Act, 1938 shall

show the amount thereof and the place where where it is deposited.

                        Statement and Certificates relating to the Balance-Sheet

 

I. There shall be appended to the balance-sheet a statement showing sepa-

rately for every asset which Is included in the balance-sheet, the full title and

particulars of the asset and the value at which it is included in the above

balance-sheet, and in the case of assets being stock exchange securities, the

nominal value and the market value as at the date of the balance-sheet. In stating

the market value of a stock exchange security no credit shall be taken in the

statement for accrued interest.

 

            II. To the balance-sheet shall be appended :-

 

            (a) A certificate signed by the same persons as are required to sign the

balance-sheet certifying that the values of all the assets have been reviewed

as the date of the balance-sheet and that In their belief the assets set forth

therein are shown in the aggregate at amounts not exceeding their realizable,

or market value under each of the several headings "Loans", "Investments",

"Agents' Balances", "Outstanding premiums". "Interest, dividends and rents

outstanding", "Interest, dividends and rents accruing but not due", "Sundry

debtors" "Bills receivable" and the items entered under "other accounts" :

 

            Provided that If the persons signing the certificate are unable to certify

without reservation that the assets set forth in the balance-sheet are so shown

as aforesaid. a full explanation shall be given.

 

            (b) A certificate signed by the auditor (which shall be in addition to any

other certificate or report he is required by law to give with respect to the

balance-sheet) certifying that he has verified the cash balances, the loans and

investments.

 

APPENDIX 9 FORM IX

 

(See rule 20) Statement under Cl. (a) (i) of sub-section (2) of Sec. 80 in respect of (here insert name of provident society) for the year ending............. 19........ New policies effected Existing policies discontinued - Contingen    By happen Surrenders For other cies on    ing of forfeitures reasons which sum    contingency and lapses   assured or    insured     other    against     benefit is Number of Total full Total       payable* policies sums premium       (Classified Insured income Sum Sum Sum according.   received No. in No. In No. in to the con     sured sured sured tingencies     and and and separately     Bonus Bonus Bonus specified in          Sec. 65)            Rs. Rs. Rs. RS. Rs. *Where the provident society issues annuities either Immediate or deferred the statement shall show the number of each class of such annuities, the annual sums payable, and the consideration received or the annual premium in the case of deferred annuities.

 

APPENDIX 10 FORM X

 

(See rule 20) Statement under Cl. (b) of sub-section (2) of Sec. 80 in respect of......... (here insert name of provident society) for the year ending......... 19...... No. Sum Insured Policies effected Rs. By husband or wife   " son   " daughter   " father   " mother   " brother   " sister   " grandson   " grand-daughter   " nephew   " " niece   " any other person   Total  

 

APPENDIX 11 FORM XI

 

(See rule 27)

 

It is hereby certified that all amounts received directly or Indirectly at credit

of the revenue account in respect of business transacted in India referred to in Cl.

(b) of sub-section (2) of Section 16 of the Act. whether from the head office of the Insurer

or from any other source outside India, have been shown In the afore-mentioned

revenue account, except such sums as properly appertain to the capital account,

and it is further certified that all expenditures including claims, attributable to

business in India, met during the year in question from sources arising outside

India, has been shown in the said revenue account except such sums as properly

appertain to the capital account.

 

APPENDIX 12 Form XII

 

(See rule 27) Submitted by the..............(here insert name of insurer).....................for the year ending................ 19...... Dividing Insurance Dividing insurance And so on for policies Insuring policies Insuring each other class money to be paid on money to be paid on of dividing Insu death or survivance marriage rance business      for which a   Minimum Minimum separate revenue   sum In sum in account Is No, sured No. sured submitted   guaran guaran    teed teed 1. Policies at Rs Rs. beginning of      year      2. New policies is      sued      3. Old policies re      vived      4. Old policies      changed and In      creased      5. Bonus addi      tions allotted      Total      Discontinued dur      ing year      6. By death      7. By survivance      or the happening      of the contingen      cies insured      against other      than death      8. By expiry of      term under tempo      rary insurances      9. By surrender of      policy      . 10. By surrender      of bonus      11. By forfeiture      or lapse      12. By change      and decrease      13. By being not      taken up      Total discontinued      Total existing at      end of year      *If there be no minimum amount guaranteed to be paid on the happening c the contingency insured against, the column may remain blank.

 

APPENDIX 13 FORM XIII

 

(See rule 27) Submitted by the.... .. .... ... (here Insert name of insurer) for the year ending............... 19............ Number of dividing Insurance poli cies effected in the year under review Insuring sums payable at death or survivance Under table Under table And soon No. 1 No. 2 for each    other table    of dividing    Insurance    business    Insuring    sums    payable at    death or    survivance (1) Number of policies    Insuring money to be paid on    the death of a male life    Effected during the year by    the life insured    his wife    " son    " daughter    " father    " mother    " brother    " sister    any person other than the    above relation    (2) Number of policies    Insuring money to be paid on    the death of a female life    Effected during the year by    the fife insured    her husband    " son    " daughter    " fathfer    " mother    " brother    " sister    any person other than the    above relations    Total number of policies    effected in the year    If the different tables be not distinguished from one another by numbers, as assumed In the above Form. the headings to the Form may be altered accordingly.

 

APPENDIX 14 Part XIV

 

(See rule 27) Submitted by the..... .,, ..,, ..,,, ..,. ... .society for the year endinq.. ...... ...... .....19.............. Number of dividing insurance poli cies effected In the year under review Age of life on the death of whom the insuring sums payable at death or policy monies become payable survivance Under Under Under And so table table table on for No. 1 No. 2 No. 3 each     other     table of     dividing     - insur     ance     business     insuring     sums     payable     at death Under 5 years     Over 5 and under 10    " 10 " 15     " 15 " 20     "20" 25     " 25 " 30     " 30 " 35     " 35 " 40     " 40 " 45     " 45 " 50     " 50 " 55     " 55 " 60     " 60 " 65     65 " 70     "70     Total number of policies effected in the (These totals should agree with year the totals In Form XIII). If the different tables be not distinguished from one another by numbers, as assumed In the above Form. the headings to the Form may be altered accordingly.

 

APPENDIX 15 FORM XV

 

(See rule 31) Statement shelving the emoluments (salary or commission or both) paid by the...........Insurance Company Limited during the year ending 31st December.......19..... Sl.No. Name Relation Desig Nature of Nature Remune Total Qualifi ship. If nation any of work ration of Col cation any with agreement done     umns and the with      (1). (9) address General Company      and   Manager, and date      (10)   or any of         Director entering         of the Co. Into such         with agreement         particu           lars    Rate of Amount Amount Allowances,    thereof    commission, of of etc.        if any commission salary   1 2 3 4 5 6 7 8 9 10 11           

                                                            NOTES

 

            (1) In the case of an insurer specified in sub-clause (a) (ii) or sub-clause (b) to

Cl. (9) of Sec. 2, the statement should relate to all the .insurance business transacted

by him and in the case of any other insurer should relate to the insurance business

transacted by him In India.

 

            (2) Where the allowance exceeds 20 per cent. of the salary or commission paid

the nature and particulars of such allowance should be indicated.

 

            (3) For the purpose of this statement all categories of agents are to be included

provided the total remuneration paid exceed Rs. 5,000 during the year to which the

statement relates.

 

APPENDIX 16 FORM XVI

 

Summary of balance-sheet and revenue account of..........company

                                                in respect of total business

 

                                    Revenue Account for the year ending..........

___________________________________________________________________________________________

Particulars                                            Rs.                   Particulars                                            Rs.

___________________________________________________________________________________________

Claim, annuities, surrenders                               Balance of Fund at the beginning

and bonuses less reinsura-                                 of the year.

nces

 

Expenses of management                                              Premiums and consideration for

including commission.                                        annuities, less reinsurances.

Bad Debts.........................

Other Items

 

Balance of Fund at the end of                            Interest, dividend and rents, less

the year.                                                                       Income-tax.

                                                                                    Other income

                                                     ____________                                                            __________________      

                                                Total____________                                                    Total__________________

 

Balance-sheet as at._________________________________

                                                                        Rs.

 

            Life Insurance Fund                              Government securities

            Other FundsOther                                            Approved securities

            Reserves                                                          Fictitious items and bad assets

            Loans and Advances                            Other assets

            Outstanding claims

            Other liabilities

                                                     ________________                                        _________________                    

                                                Total________________                                Total_________________

 

 

APPENDIX 17 FORM XVII

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                       

                                                            (See rule 40)

 

            Warrant of Authorisation under Section 34H of Insurance Act, 1938

                                    and rule 40 of the Insurance Rules, 1939

 

            Shri....................................

                                    (Name and Designation of the Officer)

 

51

 

 

            Whereas information has been laid before me and on the consideration thereof,

I have reason to believe that

 

            a requisition under sub-section (2) of Section 33 of the Insurance Act, 1938

by.........................to....................   (name   of the   person)   was   served

on......................... (date) to produce or cause to be produced the books, accounts

and other documents specified in the requisition and he has omitted or failed to

produce or cause to be produced such books, accounts or other documents as

required by such requisition.

 

            a requisition under sub-section (2) of Sec. 33 of the Insurance Act, 1938

by.........................to........................   (name of the person) was served

on................................. (date) to produce or cause to be produced the books,

accounts and other documents specified in the requisition and he will not produce

or cause to be produced such books, accounts or other documents as required by

such requisition.

 

a contravention of the provisions of section............. this Act has been com-

mitted or is likely to be committed by................................... (Name of Insurer).

 

            Claim   No..........................under   Policy   No...................   the   class

of.............................insurance   business   which   is   due   to   be   settled

by.........................................................(Name of insurer)

 

has been or is likely to be settled at a figure higher than a reasonable amount.

 

            Claim No........................ under Policy No..............................in the class

of..............................   insurance   business   which   due   to   be   settled

by........................ (Name of insurer) has been or is likely to be rej ected or settled at

a figure lower than a reasonable amount.

 

            An illegal rebate or commission has been paid or is likely to be paid

by............................ in respect of...........................(Name of Insurer.)

 

            the books, accounts, receipts, vouchers, survey reports or other documents

specified in the attached list belonging to...................................Name of the in-

surer) are likely to be tampered with, falsified or manufactured.

 

            And whereas I have reast)n to suspect that such books, accounts or other

documents as are necessary for the purposes of investigation of matters aforesaid,

have been kept and are to be found at.................................(specify particulars of

the building or place).

 

            This is to authorize and require you...................... (name of authorized offi-

cer)-

 

            (a) to enter and search the said premises:

(b) to place identification marks on such books, accounts and documents

as may be found in the course of the search and as you may consider relevant

to or useful for the purposes of or the investigation of matters aforesaid and

to make a list thereof together with particulars of the identification marks.

 

            (c) to examine such books, accounts, documents and make, or cause to

be made, copies or extracts from such books of accounts and documents:

 

            (d) to seize ahy such books, accounts or documents, found as a result

of such search and take possession thereof:

            (e) to convey such books, accounts and documents to (Office)

            (f) to exercise all the powers and perform all other functions under Sec.

34-H of the Insurance Act, 1938, and the rules relating thereto.

 

            You may requisition the services of any police officer or any officer of the

Central Government, or of both, to assist you for all or any of the purposes specified

in sub-section (1) of Section 34H of the Insurance Act, 1938.

 

                                                                                                            Controller of Insurance].

 

 

APPENDIX 18AF FORM XVIII-AF

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                                            (See rule 56)

 

            Application from a firm or company for a licence to act as a

                                                Surveyor/Loss Assessor

 

            To

 

            The Controller of Insurance,

            Simla-4.

Dear Sir,

 

            It is requested that a licence to act as a Surveyor/Loss Assessor may be

granted to our Firm/Company.

 

            2. The receipt No............... dated................from................showing payment

of fees of Rs. 250 is enclosed.

 

            3. It is hereby declared that-

 

                        (i) any partner of our Firm/any Director of our Company has not been

            found to be of unsound mind by a court of competent jurisdiction:

 

                        (ii) any partner of our Firm/any Director of our Company has not been

            found guilty of criminal misappropriation or criminal breach of trust, or

            cheating or forgery, or an abetment of or attempt to commit any such offence

            by a Court of competent jurisdiction:

 

 

(iii) any partner of our Firm/any Director of our Company has not been

            found guilty of or to have knowingly participated in or connived at any fraud,

            dishonesty or misrepresentation against an insurer or an insured in the

            course of any judicial proceedings relating to any policy of insurance or the

            winding up of an "Insurance company or in the course of an investigation of

            the affairs of any Insurer" : and

                        (iv) any partner of our Firm/any Director of our Company is not a minor.

            4. It is also declared that the particulars given below are true.

 

1. Full name of the applicant                      (1) Company/Firm....................

   (in Block Letters)                               .................................................

 

2. Full address                                     2...............................................

 

3. The name of all the partners/Directors.          3..........................

   with their addresses staling in each             ..........................

   case the date of birth and whether the           ..........................

   partner/director claims to-                      ..........................

   (a) have been in practice as a surveyor/         (a)..........................

   loss assessor on the 26th October.               ..........................

   1968, or                                         ..........................

 

 

52

 

 

            (b) hold a degree of a recognised univer-

            sity in any branch of engineering or

            (c) be a fellow or associate member of

            the Institute of Chartered Accountants

            of India or Institute of Cost and

            works Accountants of India, or

 

(d) possess actuarial qualifications or

            hold a degree or diploma of any

            recognized University or institute

            in relation to insurance, or

 

1[(e) hold a diploma in insurance granted

            or recognized by the Government, or

 

            (f) possess any of the technical qualifica-

            tions mentioned In rule 56A

 

            [N.B.-In the case of each of the                                    (If the space above is insufficient par-

partners/directors claiming to come                                           ticulars may be given in a separate

under item (a) above and not being                                            sheet which should be signed by the

eligible to come under any of the                                               applicant).

items (b) to (f) above, a declaration in

the form given in the Annexure to this

Form duly filled in and sworn before

a Magistrate, Notary Public or Justice

of the Peace should be forwarded with

this Form and in the case of each of

the partners/directors claiming to

come under any of the items (b) to (f)

above, either the original diplo-

mas/certificates with the attested

copy each, or copies of the original

diplomas/certificates duly attested

by a Magistrate, Notary Public or Jus-

tice of the Peace should be enclosed.

Where original diplomas/certificates

are sent. they will be returned after

perusal, but no responsibility can be

accepted for loss or damage of such

originals).

 

4. Did the Firm/Company ever                                      4.

hold a licence, if so state number and                 No.............Date

date.                                                                                                                

 

Name of place......

Dated the......   19......

                                                                                                            Yours faithfully,

                                                                                                Signature of applicant

                                                                                    Designation

                                                                                    Name of Firm/Company

                        Strike out portion not required.

                                                (See notes on the reverse)

 

 

                                                            ANNEXURE

            I...........................son/daughter/wife of.

hereby declare that on the 26th of October, 1968, I was in practice as a surveyor/loss assessor In

respect of general insurance business in my Individual capacity/as a partner/di-

rector of (Name of Firm). I also declare that I have/the firm has/the company has

 

53

 

 

acted as surveyor/loss assessor and have/has signed a survey/loss assessment

report in respect of the following :

 

            1. Insurance Co.

 

            2. Class of Insurance business

 

            3. Policy No. and Claim No.

 

            4. Date of report

Place.......................                              Signature of the applicant

 

            The above declaration was sworn before by Mr. /Mrs./Miss.......................who

is identified by Mr./Mrs./Miss...............of..........................who is known to me.

 

                                                                                                Signature and Seal of Magistrate,

                                                                                                Notary Public or Justice of the Peace.

 

Place..........................

Date...........................

 

            The applicant must give details of a recent survey/loss assessment report

signed by him/the Firm/the Company as a'surveyor/loss assessor.

 

                                                                        NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever In any document required for the purposes of

any of the provisions of that Act, wilfully makes a statement false in any material

particular, knowing It to be false, shall be punishable with imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees, or with both.

 

            2. A firm or company can apply for only one licence which will entitle it to act

as a surveyor/loss assessor.

 

            3. Any correction or alteration made in any answer to the questions in the

application should be initialled by the applicant.

 

            4. A fee of Rs. 250 should be paid into the Reserve Bank of India or where

there Is no office of the Reserve Bank of India, into the State Bank of India acting

as the agent of the Reserve Bank of India or into any Government Treasury for credit

under the head "XXI-Miscellaneous Departments-Fees realised under the Insur-

ance Act. 1938" and the receipt shall be sent along with this application.

 

            5. Payment in CASH OR BY MONEY-ORDER, CHEQUE, POSTAL ORDER,

POSTAGE OR INSURANCE STAMP OR BANK DRAFT, is not accepted and will be

returned at applicant's cost.

 

6. No acknowledgment of the application will be sent. If one Is required the

application should be sent by a registered post (acknowledgment due).

 

            Not Transferable.]

 

APPENDIX 18AAF FORM XVIII-AAF

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                                            GOVERNMENT OF INDIA

 

                                    (Office of the Controller of Insurance)

 

                                                                                                            Licence No........

                                                               (See rule 56)

 

                           LICENCE TO ACT AS A SURVEYOR/LOSS ASSESSOR UNDER

                                        PART II-B OF THE INSURANCE ACT, 1938

 

54

 

            Name...................

            Address................

 

having paid the prescribed fee and having made the necessary declaration Is hereby

authorized under Section 64UM of the Insurance Act, 1938, to act as surveyor/loss

assessor for five years from.................................

 

            The licence will expire on............................

                        Simla, dated the....... 19............Controller of Insurance

                        Seal of the Firm/Company              (Sec notes on the reverse)

 

                                                                        NOTES

 

1. If it is desired to renew this licence for a further period, the procedure laid

down, In rule 56 of the Insurance Rules, 1939, shall be followed, and an application

for renewal should reach the Controller of Insurance at least thirty days before the

licence expires.

 

            2. This licence authorises the licence-holder to act as a surveyor/loss assessor

for any registered Insurer and therefore, no identifying mark or note of any

description by which the identity of an insurer might be established should be

placed on the licence.

 

            3. No correction in this licence will be valid unless Initiated by the Controller

of Insurance or a person authorized by him in this behalf.)

 

APPENDIX 18AI FORM XVIII-AI

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                                APPLICATION FOR A LICENCE TO ACT AS A

                                                             SURVEYOR/LOSS ASSESSOR

                                                                        (See rule 56)

To

 

The Controller of Insurance,

Simla-4

Dear Sir,

 

            I request that a licence to act as a surveyor/loss assessor may be granted to

me.

 

            2. I enclose the receipt No.________________dated___________from

the________________showing payment of the fees of Rs. 250.

 

            3. I hereby declare that :

 

                        (i) I have not been found to be of unsound mind by Court of competent

            jurisdiction:

 

                        (ii) I have not been found guilty of criminal misappropriation or criminal

            breach of trust or cheating or lorgery or an abetment of or attempt to commit

            any such offence by a Court of competent jurisdiction; and

(iii) I have not been found guilty of or to have knowingly participated in

            or connived at any fraud, dishonesty or misrepresentation against an Insurer

            or an Insured In the course of any judicial proceeding relating to any policy

            of Insurance or the winding up of an insurance company or In the course of

            an investigation of the affairs of an insurer.

 

            4. I also declare that the particular given below are true.

 

55

 

______________________________________________________________________________________

                                                                                        (in block letters)

(1) Full name                                 (1) *Mr.

                                                                                                 *Mrs.

                                                                                                 *Miss.

(2) 'Father's/husband's name                     (2)

 

(3) Full address                              (3)

 

(4) Date of birth of the applicant            (4)

in Christian era.

 

(5) Whether the applicant, has

been in practice as a surveyor or loss

assessor on the 26th October, 1968

(say "Yes or "No") (If the answer is in

the affirmative 1[and the applicant is

not eligible to come under any of the

sub-items (a) to (e) in Item (6) below]

the declaration in the Annexure to

this form should be filled in and duly

sworn before a Magistrate, Notary

Public or Justice of the Peace].

 

@@(6) Qualifications:                         (6)

1[Whether the applicant pos-

sesses any of the following qualifica-

tions, if so, give details and also

enclose either the original diplo-

mas/certificates with one attested

copy each, or copies of the original

diplomas/certificates duly attested

by a Magistrate, Notary Pubic or Jus-

tice of the Peace, (where original di-

plomas/certificates are sent they will

be returned after perusal, but no re-

sponsibility can be accepted for loss

or damage of such originals)].

 

(The original diploma/certifi-

cates will be returned after perusal)-

 

(a) holds a degree of a                                      (a)....

recognised University in any branch

of engineering;

 

(b) is a fellow or associate mem-                       (b)....

ber of the Institute of Chartered Ac-

countants of India or the Institute of

Cost and Works Accountants of India;

 

(c) possesses actuarial qualifl-                           (c).....

cations or holds a degree or diploma

of any recognised University or insti-

tute in relation to Insurance;

 

56

(d) holds a diploma in insurance                         (d). ......

granted or recognized by Govern-

ment.

 

1(e) possesses any of the tech-       (e).......

nical qualifications mentioned in rule

56-A.)

 

(7) Have you ever held a licence?                       (7).......

If so, state number and date.                                      No.......

 

                                                                                                            Date of Issue.

______________________________________________________________________________________

            *Strike out portion not required.

 

            @ If the licence is required In the name of sole proprietorship firm, the full

name and address of the firm under which the individual carries on or proposes to

carry on the work, should also be mentioned here.

 

            @@This need not be filled up, if answer to (5) is "Yes".

Dated the...................                                   Yours faithfully.

                                                                                                            Signature of the applicant.

                                                                                    ANNEXURE

 

            I..................son/daughter/wife of.,.........hereby declare that on the 26th day

of October, 1968, I was in practice as a surveyor/loss assessor in respect of general

insurance business. I also declare that I have acted as surveyor/loss assessor and

have signed a survey/loss assessment report in respect of the following.*2

 

            1. Insurance Company.

 

            2. Class of Insurance business.

 

            3. Policy number and Claim number.

 

            4. Date of report.

 

                                                                                                            Signature of the applicant.

Place..............

Date...............

 

The above declaration was sworn before me by Mr./Mrs./Miss.........who is

identified by Mr./Mrs./Miss................of............ who is known to me.

                                                                                                            Signature and Seal of Magistrate,

                                                                                                            Notary Public or Justice of the Peace.

Place..........

Date-.........

 

                                                                        NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever in any document required for the purposes of

any of the provisions of that Act, wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with Imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees or with both.

 

            2. An individual can apply for only one licence which will entitle him to act as

a surveyor/loss assessor for any insurer.

 

            3. Any correction or alteration made in any answer to the questions in the

application should be initialled by the applicant.

 

57

 

 

            4. An applicant must be at least 18 years of age on the date of submission of

the application. In the case of an applicant declaring his age as 18 years, the exact

date of birth should be given and in all other cases, either the exact date of birth

or falling that the year of birth should be stated against item 4 of the application.

If required the applicant shall furnish proof of age.

 

            5. A fee of Rs. 250 should be paid into the Reserve Bank of India or where

there Is no office of the Reserve Bank of India, into the State Bank of India acting

as the agent of the Reserve Bank of India or into any Government Treasury for credit

under the head "XXI--Miscellaneous Departments Fees realised under the Insur-

ance Act, 1938" and the receipt shall be sent along with this application.

 

            6. Payment in CASH OR BY MONEY-ORDER, CHEQUE, POSTAL ORDER,

POSTAGE OR INSURANCE STAMP OR BANK DRAFT is not accepted and will be

returned at applicant's cost.

 

7. No acknowledgment of this application will be sent. If one Is required the

application should be sent by registered post (acknowledgment due).

 

            Not transferable.]

 

 

APPENDIX 18AAI FORM XVIII-AAI

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                                            (GOVERNMENT OF INDIA)

                                                (Office of the Controller of Insurance)

 

                                                                                                            Licence No......

                                                                        (See rule 56)

 

                        LICENCE TO ACT AS A SURVEYOR/LOSS ASSESSOR UNDER

                                    PART II- B OF THE INSURANCE ACT, 1938

            Mr./Mrs./Miss................

            Address.................

 

            *Working as sole proprietor of....................having paid the prescribed fee and

having made the necessary declaration is hereby authorized under Section 64UM of

the Insurance Act, 1938, to act as a Surveyor/Loss Assessor for five years.

 

            From...........................this licence will expire on......................... dated

the.................. 19..    Controller    of    Insurance,    Signature    of    licence

holder........................

 

            *Strike out If not required.

 

                                                            (See notes on the reverse)

                                                                                    NOTES

 

1. If it is desired to renew this licence for a further period, the procedure laid

down in rule 56 of the Insurance Rules, 1939, shall be followed and an application

for renewal should reach the Controller of Insurance at least thirty days before the

licence expires.

 

            2. This licence authorizes the licence-holder to act as a surveyor/loss assessor

for any registered Insurer and therefore, no identifying mark or note of any

description by which the Identity of an Insurer might be established should be

placed on the licence.

 

            3. No correction in this licence will be valid unless initialled by the Controller

 

APPENDIX 18BF FORM XVIII-BF

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                    APPLICATION FROM A FIRM OR COMPANY FOR RENEWAL OF A

                                                LICENCE TO ACT AS A SURVEYOR/LOSS ASSESSOR

 

                                                                        (See rule 56)

From

 

            Name of applicant....................

            (In Block Letters)

            Full address.........................

            (In Block Letters)

To

 

            The Controller of Insurance,

            Simla-4

 

                                                                        Licence No.......

                                                                        Date of expiry......

Dear Sir.

 

            It is requested that the above licence may be renewed for a further period of

five years.

 

            2. Receipt No....................dated...................from the..........................show-

ing payment of Rs. 200 is enclosed.

 

            3. *It is hereby declared that...................:..........

 

            (i) any partner of our Firm/any Director of our Company has not been found

to be of unsound mind by a Court of competent jurisdiction.

 

            (ii) any partner of our Firm/any Director of our Company has not been found

guilty of criminal misappropriation or criminal breach of trust, or cheating or forgery

or an abetment of or attempt to commit any such offence by a Court of competent

jurisdiction;

 

(iii) any partner of our Firm/any Director of our Company has not been found

guilty of or to have knowingly participated in or connived at any fraud, dishonesty

or misrepresentation against an insurer or an insured in the course of any judicial

proceeding relating to any policy of Insurance or the winding up of an insurance

company or in the course of an investigation of the affairs of an insurer: and

 

            (iv) any partner of our Firm/any Director of our Company Is not a minor.

 

            4. It is declared that each one of the partners/Directors of the firm who was

a partner/Director when the above-mentioned licence was Issued and who Is now

a partner/director continues to satisly the requirements of Cl. (D) of sub-section

(1) of Sec. 64-UM of the Act.

 

            5. It is also declared that the particulars given below are true.

 

            6. The name of all the partners/directors, with their addresses, are given

below, staling In each case the date of birth and whether the partner or director

claims to....................

            (a) have been in practice as a        (a).........................

surveyor/loss assessor on the 26th

October, 1968, or

 

            (b)hold a degree of a recognised      (b)......................

University In any branch of engineer-

ing, or

 

59

 

(c) be a fellow or associate mem-      (c)..

ber of the Institute of Chartered Ac-

countants of India or Institute of Cost

and Works Accountants of India, or

 

            (d) possess actuarial qualifica-       (d).

tions or hold a degree or diploma of

any recognised University or Institute

in relation to Insurance, or

 

1[(e) hold a diploma in insurance (e)..

granted or recognised by the Govern-

ment, or]

 

            (f)possess any of the techni-          (f)......................

cal qualifications mentioned in rule

56-A.

 

            (N.B. In the case of each of the partners/directors who was not a partner/di-

rector on the date of last application for licence-

 

                        (i) where he claims to come under item (a) above and is not eligible Lo

            come under any of the item (b) to (f) above, a declaration in the form given in

            the Annexure to this form duly filled in and sworn before a Magistrate. Notary

            Public or Justice of the Peace should be forwarded with this Form: and

 

                        (ii) where he claims to come under any of the items (b) to [f) above, either

            the original diplomas/certificates with one attested copy each or copies of the

            original diplomas/certificates duly attested by a Magistrate, Notary Public or

            Justice of the Peace should be enclosed. Where original diplomas/certificates

            are sent, they will be returned after perusal, but no responsibility can be

            accepted for loss or damage of such originals.]

 

                                                                                                                        Yours faithfully,

            Dated the.............................19......

 

                                                                                                                        Signature of the applicant

                                                                                    Designation.............................

                                                                                    Name of Firm/Company....................

*Strike out portions not required.

                                                            (See notes on the reverse)

 

                                                                        ANNEXURE

 

            I........................son/daughter/wife of,..........hereby declare that on the 26th

day of October, 1968, I was in practice as surveyor/loss assessor in respect of

general insurance business in my individual capacity as a partner/director

of.......(name of firm). I also declare that I have/the firm has/the company has acted

as surveyor/loss assessor and have/has signed a survey/loss assessment report

as surveyor/loss assessor in respect of the following:

 

            1. Insurance Company.

            2. Class of Insurance business.

            3. Policy No. and Claim No.

            4. Date of report.

                                                                                                            Signature of the applicant.

 

            The above declaration was sworn before me by Mr./Mrs./Miss .......who is

Identified by Mr./Mrs./Miss...........of...................who is known to me.

 

60

 

 

Place....................

Date.....................

 

                                                                                    Signature and Seal of Magistrate, Notary

                                                                                    Public or Justice of the Peace.

 

            *The applicant must give details of a recent survey/loss assessment report

signed by him/the firm/the company as a surveyor/loss assessor.

 

NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Insurance Act,

1938, which provides that whoever in any document required for the purposes of

any of the provisions of that Act, wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with imprisonment for a term

which may extend to three years or with fine which may extend to one thousand

rupees, or with both.

 

            2. The name and the licence number given in the application should be

identical with those shown in the licence held. If there is any subsequent change

in the name, the reasons for the same should be stated furnishing documentary

evidence for the same.

 

            3. Any correction or alteration made in the application should be initialled by

the applicant.

 

            4. The application should reach the Controller of Insurance at least thirty days

before the expiry of the licence held by the applicant. If the application does not

reach the Controller of Insurance at least thirty days before the date on which the

licence ceases to be in force, it will not be entertained. In that case the applicant,

if he so desires, may apply for a fresh licence by paying a fee of Rs. 250.

 

            5. A fee of Rs. 200 should be paid into the Reserve Bank of India or where

there is no office of the Reserve Bank of India, into the State Bank of India acting

as the agent of the Reservo,Bank of India or Into any Government Treasury for credit

under the head "XXI-Miscellaneous Departments-Fees realised under the Insur-

ance Act, 1938" and the receipt shall be sent along with this application.

 

            6. Payment In CASH OR BY MONEY-ORDER, CHEQUE, POSTAL ORDER

POSTAGE OR INSURANCE STAMP OR BANK DRAFT is not accepted and will be

returned at applicant's cost.

 

7. No acknowledgment of this application will be sent. If one Is required the

application should be sent by registered post (acknowledgment due).

 

            [Not transferable]

 

APPENDIX 18BBF FORM XVIII-BBF

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                                (Office of the Controller of Insurance)

                                                    Licence No.......................

                                                                                    (See rule 56)

 

                                    RENEWAL OF LICENCE TO ACT AS SURVEYOR/LOSS ASSESSOR

                                         UNDER PART II-B OF THE INSURANCE ACT, 1938

            Name...............

            Address............

 

Having paid the prescribed fee and having made the necessary declaration. Its

licence No.............. dated............. to act as surveyor/loss assessor Is hereby re-

newed up to the...........day of.................19......

 

61

 

 

            Simla, dated the...............19......               Controller of Insurance.

            Seal of the Firm/Company.

                                                                                    NOTES

 

            1. If It is desired to renew the licence for a further period the procedure laid

down in rule 56 of the Insurance Rules, 1939, shall be followed, and an application

for renewal should reach the Controller of Insurance at least thirty days before the

licence expires.

 

2. The licence authorizes the licence-holder to act as a surveyor/loss assessor

for any registered Insurer and therefore, no identifying mark or note of any

description by which the identity of an Insurer might be established should be

placed on the licence or on this renewal licence.

 

            3. No correction on this renewal licence will be valid unless initialled by the

Controller of Insurance or a person authorized by him in this behalf.]

 

APPENDIX 18BI FORM XVIII-BI

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                    APPLICATION FOR RENEWAL OF A LICENCE TO ACT AS A

                                                               SURVEYOR/LOSS ASSESSOR

 

                                                                         (See rule 56)

From

 

            NameofSurveyor/                      Mr.*............

            Loss Assessor                        Mrs.*...........

                                                                                     Miss.*..........

Full address..................            **working as sole proprietor of...........

To

 

            The Controller of Insurance,

            Simla                            Licence No...........................

                                                                           Date of expiry.......................

            Dear Sir,

 

            I request that the above licence may be renewed for a further period of five

years.

 

            2. I enclose receipt No..................dated....................from the.........................

showing the payment of Rs. 200.

 

            *3. I declare that since the date of my last application for a licence :

 

                        (i) I have not been found to be of unsound mind by a Court of competent

            jurisdiction;

 

                        (ii) I have not been found guilty of criminal misappropriation or criminal

            breach of trust or cheating: or forgery or an abetment of or attempt to commit

            any such offence by a Court of competent jurisdiction;

 

            (iii) I have not been found guilty of or to have knowingly participated in

            or connived at any fraud, dishonesty, or misrepresentation against an insurer

            or an Insured in the course of any judicial proceeding relating to any policy

            of insurance or the winding up of an insurance company or In the course of

            any investigation into the affairs of an insurer: and

 

                        (iv) my licence has not been cancelled at any time by the Controller of

            Insurance;

 

62

 

 

                        (v) I declare that I continue to hold the qualification on the basis of which

            my licence mentioned above was Issued.

 

            4. I also declare that the facts stated herein are true.

 

                                                                                                                        Yours faithfully,

            Dated the.............. 19.........

 

                                                                                                            Signature of the applicant.

            *Strike out whichever is not applicable.

            **Strike out if not applicable.

                                                                        NOTES

 

            1. The attention of the applicant is drawn to Sec. 104 of the Insurance Act,

 

1938, which provides that whoever in any document required for purposes of any       ,

of the provisions of that Act. wilfully makes a statement false in any material

particular, knowing it to be false, shall be punishable with imprisonment for a term

which may extend to three years, or with fine which may extend to one thousand

rupees, or with both.

 

2. The name and the licence number given in the application should be       )

identical with those shown in the licence held. If there Is any subsequent change

in the name, the reasons for the same should be stated furnishing documentary

evidence for the same.

 

            3. Any correction or relation made in the application should be initialled by

the applicant.

 

            4. The application should reach the Controller of Insurance at least thirty days

before the expiry of the licence. If the application does not reach the Controller of

Insurance at least 30 days before the date on which the licence ceases to be In force,

it will not be entertained. In that case the applicant, if he so desires, may apply for

a fresh licence by paying a fee of Rs. 250.

 

            5. A fee of Rs. 200 should be paid into the Reserve Bank of India or where

there is no office of the Reserve Bank of India into the State Bank of India acting

as the agent of the Reserve Bank of India or into any Government Treasury for credit

under head "XXI-Miscellaneous Department Fees realised under the Insurance

Act, 1938" and the receipt shall be sent along with the application.

 

            6. Payment in CASH OR BY MONEY-ORDER, CHEQUE, POSTAL ORDER,

POSTAGE OF INSURANCE STAMP OR BANK DRAFT is not accepted and will be

returned at applicant's cost.

 

7. No acknowledgment of this application will be sent. If one is required the

application should be sent by registered post (acknowledgment due).)

 

 

APPENDIX 18BBI FORM XVIII-BBI

 

11. The word, "Department of Insurance" omitted by G.S.R. 45, dated the 18th December. 1965. published in the Gazette of India. Pi. II. Sec. 3 (i). dated the 1st January, 1966. [

                                                              GOVERNMENT OF INDIA

                                          (Office of the Controller of Insurance)

                                                            Licence No...................

                                                                        (See rule 56)

 

                                    RENEWAL OF LICENCE TO ACT AS SURVEYOR/LOSS ASSESSOR

                                         UNDER PART II-B OF THE INSURANCE ACT, 1938

            Mr....:.........

            Mrs.............

 

63

 

            Miss............

            Address...........

 

            *Working as sole proprietor of................... having paid the prescribed fee and

having made the necessary declaration his/her licence No...............................

dated....................to act as a surveyor/loss assessor is hereby renewed up to........

day of...................

            Simla, dated the.....19.....                        Controller of Insurance.

            Signature of licence holder.

            *Strike out if not required.

 

                                                (See Notes on the Reverse)

 

            1. If it is desired to renew the licence for a further period, the procedure laid

down in rule 56 of the Insurance Rules, 1939. shall be followed, and an application

for renewal should reach the Controller of Insurance at least thirty days before the

licence expires.

 

2. The licence authorizes the licence holder to act as a surveyor/loss assessor

for any registered insurer and therefore, no identifying mark or note of any

description by which the identity of an insurer might be established should be

placed on the licence or on this renewal licence.

 

            3. No correction in this renewal licence will be valid unless initialled by the

"Controller of Insurance or a person authorised by him in this behalf'].

 

SCHEDULE 2 SCHEDULE II

[omitted.