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The Insurance Act, 1938

( ACT NO. IV Of 1938 )

Advisers of insurers
1[48CC. Notwithstanding anything contained in the Articles of Association of an insurer, no insurer shall appoint more than three advisers:
 
 
 
 
Provided that no share-holder or director of the concerned insurer or member of their families shall be an adviser under this section.]
 
 
 
 

  • 1
    Section 48CC was substituted by section 9 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)
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