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REGISTERED No. D. 221

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 91] NEW DELHI, TUESDAY, MARCH 29, 1966/CHAITRA 8, 1888

Separate paging is given to that is Part in order that it may be filed

as a separate compilation.

MINISTRY OF FINANCE

(Department of Revenue and Insurance) NOTIFICATION New Delhi, the 29th March 1966

S.0.1036,—In exercise of the powers conferred by sub-section (8) of section D of the Emergency Risks (Goods) Insurance Act, 1962 (62 of 1962), the Central Govern- ment hereby makes the following scheme further to amend the Emergency Risks (Goods) Insurance Scheme issued with the notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) No. S.O. 3948, dated the 26th December. 1962, namely: —

1. (1) This Scheme may be called the Emergency Risks (Goods) Insurance (Amendment) Scheme. 1966.

(2) It shall come into force on the first day of April, 1966. 2. In the Emergency Risks (Goods) Insurance Scheme, for paragraph 10, the following paragraph shall be substituted, namely:-—

"10. Rate of Premium-—

(1) Subject to the provision of sub-paragraph (2) the premium payable under any policy of insurance issued in respect of the quarter ending on the 30th day of June, 1966, shall.—

(a) in the case of a policy in force on the 31st day of March, 1966, be nil; (b) in any other case, be at the rate of six paise for every hundred rupees or any part thereof of the sum Insured, subject to a maxi- mum of twenty-five rupees.

(2) The Central Government may, in its discretion, at any time during the said quarter, revise the premium payable under the policies referred to in sub-paragraph (1). (3) Where the amount of any premium payable under sub-paragraph (1) Involves a fraction of a rupee the premium shall be-rounded off to 575 ) <76 THE GAZETTE OF INDIA E3tTRAQWXN{AJlY ffA*r II-*|C ]"U)1 the nearest rupee. The premium shall be payable In one lump sum In respect of the ent^r~c(uarter few which the policy is In force:

Provided that if any goods' becoine incurable °r are insured under this Scheme after the commencement of the quarter, the premium shall be payable in one lump sum, which shall be equivalent to the amount payable in respect of good*. tns,uja;b}" .during- the entire g a r t er reduce! by an amount -which bears to the ftrst 'mentioned amrouttt the same proportion as the number bt completed months in*that quarter before the goods become Insurable or'^re insured bears to three, the actual amount due• in accordance, with this proviso if it involves a fraction being rounded oft to the nearest rupee.

I (4) Where the premium has been revised under sub-paragraph (2), the provisions contained in the proviso to sub-paragraph (3) shall apply for the purpose of calculation of the additional amount of premium payable or of tjie amount of premium refundable, as the case may be, as a result of such revision, aa if all the policies came Into force on the date of such revision." ,

tNo. F. 101(5)-INS.l/66-ERI(I).]

S.O. 1037.—In exercise oftne powers conferred by sub-section (6) of section 3 of the Emergency Rislca-(Factories) Insurance Act, 1982 (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 Econbmic Affairs) No S O, 3946 dated the 26th December, 1862, name:y:— -

1. (1) This Scheme may-be called the Emergency Hlsks (Factories) Insurance (Amendment) Scheme, 1966.

(2) It shall come into force on the first day of April, 1866. 2. In the Emergency Bisks (Factories) Insurance Scheme lor paragraph 6,-"the

•0..pat* of. premium.

(1) Subject to the provision of stib-paragraph (2) the premium ^ayafrle undef any policy of insurance Issued in respect of the quarter ending on the 30th June, 1966, shall,—

(a) In the case of a poHcy in force on the 31st day of March. 1966, be nil; (b) in any other case, be at the rate of ten paise for every hundred rupees or any part thereof of the sum insured, subject to a maxi- mum of twentyTfive" rupees,

(2) The Central Government may, In its discretion, at.any tim" fluritttf the said quarter, revise the premium payable under the policies referred , ... , ,.); to In sub-paragraph (1), M"Where the amount of any premium payable under sub-paragraph (I) Involves t\ fraction of a rupee, the premium shall be rbuijded off to the¹ nearest rupee. The premium shall be payable iri one ltim$ tfum in respect of the entire quarter for which the policy is }n force;

Prbvided that if any factory becomes insu-'able, or is insured Under- this Scheme after the commencement of the quarter, the premium. shall be equivalent to the amount payable in respect of factories, insur- ab}e during the' entire quarter reduced by ttn amount which bea-p to the first mentioned amount the same proportion as the' ntmVb^r of completed months in that quarter before the factory becomes insurab e or is insured bears to three, the a,ctual E(mqunt due in ^aeeoTdanee with this proviso If It involves a traction being rounded Off to the 'nearest rupee.

(4) Where the premium has been revised under sub-paragraph (2), the provisions contained in the proviso to sub-parajfraph (3T shall apply for the purpose' of calculation of the additional -amount of premium (piyable or of the amount of premium refundable,. as the case may be, as a result of such revision, as ,if all the policies came into force on the date " , u* revision/' .^ f, ^ .^ ^ g ^ .^ ( n) ^A- PAJAGOPALAN, Officer, on Special Duty and Ex-Qjficip Jt, Secy. "' tf0ft£ti iiJ bri>tA BY'THE'GKNEPAL MAN'AOER. cdvKR'iiMBNT'op "mfiiA PRESS ' ' NEW DELHI AND PUBLISHED BY Tl'E MANAGER OF PUD]JCATIONK. OBI,Hi. 1966