The Insurance Act, 1938

( ACT NO. IV Of 1938 )

2A. Insurers to be subject to this Act while liabilities remain unsatisfied

2B. This Act not to apply to certain insurers ceasing to enter into new contracts before commencement of Act

2C. Prohibition of transaction of insurance business by certain persons

3. Registration

3A. Renewal of Registration

3AA. Insurers not to transact both life and general insurance business

3B. Rates, terms and conditions of operation of an insurer

3BB. Basis for determination of premium rates

3BBB. Determination of premium rates for general insurance business

3C. Provisions relating to collection of premiums

3D. Provisions relating to reinsurances and insurances abroad

3E. Licensing of branch offices of insurers

3F. Restriction on issue of certain policies at new rates, etc.

4. [Omitted.]

5. Restriction on name of insurer

6. Requirements as to capital and share-holdings

7. Deposits

8. Reservation of deposits

9. Refund of deposits

10. Separation of accounts and funds

11. Accounts and balance-sheet

12. Audit

12A. Special audit

13. Actuarial report and abstract

14. Register of policies and register of claims

15. Submission of returns

16.[Omitted.]

17. Exemption from certain provisions of the Companies Act, 1913

17A. [Omitted.]

18. Furnishing reports

19. Abstract of proceedings of general meetings

20. Custody and inspection of documents and supply of copies

21. Powers of Chief Controller of Insurance regarding returns

22. Power of Chief Controller of Insurance to order revaluation 23. Evidence of documents

23. Evidence of documents

24. [Omitted.]

25. Returns to be published in statutory forms

26. Alterations in the particulars furnished with application for registration to be reported

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Ministry of Law, Justice and Parliamentary Affairs