The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 329] NEW DELHI, MONDAY, DECEMBER 28, 1964/PAUSA 7, 1886
Separate paging is given to this part in order that it may be filed
as a separate compilation
MINISTRY OF FINANCE
(Department of Company Affairs and Insurance)
NOTIFICATIONS
New Delhi, the 24th December 1964
S.O. 4389.—In exercise of the powers conferred by sub-section (1) of section 5 of the Emergency Risks (Goods) Insurance Act, 1962 (62 of 1062), read with clause (b) of paragraph 10 of the Emergency Risks (Goods) Insurance Scheme, the Central Government hereby fixes the premium payable under a policy -which came into force after the 31st day of December, 1963, in respect of the quarter ending on the 31st December, 1964, at the rate of six paise for every hundred rupees or any part thereof of the sum insured subject to a maximum of twenty-five rupees,-
Provided that where the amount of any premium payable Involves a fraction of a rupee, the premium shall be rounded off to the nearest rupee.
2. No premium shall be payable under any such policy for any other quarter of the year 1964.
[No. F. 101(9)INS.I/64-ERI.I.]
S.O. 4390.—In exercise of the powers conferred by sub-section (1) of section 3 of the Emergency Risks (Factories) Insurance Act, 1962 (63 of 1962), read with clause (b) of paragraph 8 of the Emergency Risks (Factories; Insurance Scheme, the Central Government hereby fixes the premium payable under a policy which came into force after the 31st day of December, 1963, in respect of the quarter ending on the 31st December, 1964, at the rate of ton paise for every hundred rupees or any part thereof of the sum insured subject to a maximum of twenty-five rupees:
Provided that where the amount of any premium payable Involves a fraction of a rupee, the premium shall be rounded of to the nearest rupee.
2. No premium shall be payable under any such policy for any other quarter of the year 1964.
[No. F. l0l(9)-INS.I/04-ERI.IL]
New Delhi, the 26th December 1964
!232 THE GAZETTE OF INDIA EXTRAORDINARY [PARTU-SEC. $ (il)] 2. In the Emergency Risks (Goods) Insurance Scheme for paragraph 10, the following paragraph shall be substituted, namely: —"10. (1) Rote of premium.—(1) The premium payable under any policy of insurance in respect of the quarter ending on the 31st day of March, 1065, shall,—
(a) in the ca.se of a person having a policy in force on the 31st day of
December, 1964, be nil;
(b) in any other case, at the rate of six paise for every hundred rupees or any part thereof of the sum Insured, subject to a maximum of twenty-five rupees.
(2) Where the amount of any premium payable under clause (b) of sub-para- graph (1) involves a fraction of a rupee, the premium shall be rounded off to the nearest rupee. The premium shall be payable in one lump sum in respect of the entire quarter for which the policy is or Is con- tinued in force:
Provided that if any goods become insurable or are insured under this scheme after the commencement of a quarter, the premium shall be payable in one lump sum, which shall be equivalent^ to the amount payable in respect of goods insurable during the entire quarter reduced by an amount which bearsi to the first mentioned amount the same proportion as the number of completed months in that quarter before the goods become Insurable or are insured bears to three, the actual amount due in accordance with this proviso if it involves a fraction being rounded olf to the nearest rupee."
LNo. F. 101(9)-INS. I/64-ERI-I1L]
S.O. 4392.—In exercise of the powers conferred by sub-section (6) of section 3 of the Emergency Risks (Factories) Insurance Act, 1962 (63 of 1962), the Central Gov- ernment hereby makes the following scheme further to amend the Emergency Risks (Factories) Insurance Scheme Issued with the notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) No. S.O. 3946, dated the 26th December, 1962, namely: —
1. (1) This scheme may be called the Emergency Risks (Factories) Insurance (Fourth Amendment) Scheme, 1064.
(2) It shall come into force on the first day of January, 1965.
•2. In the Emergency Risks (Factories) Insurance Scheme for paragraph 8, the following paragraph shall be substituted, namely: —
"8. (1) Rate of premium.—(1) The premium payable under any policy of insurance in respect of the quarter ending on the 31st day of March, 1966, shall —
(a) In the case of a person having a policy In force on the 31st day of
December, 1964, be nil;
(b) In any other case, at the rate of ten paise lor every hundred rupees or any part thereof of the sum insured, subject to a maximum of twenty-five rupees.
(2) Where the amount of any premium payable under clause (b) of aub-para- graph (1) involves a fraction of a rupee, the premium shall be rounded off to the nearest rupee. The premium shall be payable In one lump sum in respect of the entire quarter for which the policy is or Is con- tinued in force:
Provided that if any factory becomes insurable or are insured under this scheme after the commencement of a quarter, the premium shall be payable in one lump sum, which shall be equivalent to the amount payable in respect of factories Insurable during the entire quarter reduced by an amount which bears to the first mentioned amount the same proportion as the number of completed months in that quarter before the factory becomes insurable or are insured bears to three, the actual amount due in accordance with this proviso if it involves a fraction being rounded off to the nearest rupee."