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The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 301] NEW DELHI, THURSDAY, SEPTEMBER 22, 1966/BHADRA 31, 1888

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

as a separate compilation.

MINISTRY OF FINANCE

(Department of Revenue and Insurance)

NOTIFICATIONS

New Delhi, the 21st September 1966

S.O. 2840.—In exercise of the powers conferred by sub-section (5) of section 5 of the Emergency Risks (Goods) Insurance 'Act, 1962 (62 of 1962), the Central Government hereby makes the following scheme further to amend the Emer- eencv Risks (Goods) Insurance Scheme issued with the Notification of the Gov- ernment of India in the Ministry of Finance (Department of Economic Affairs) No. S.O. 3945, dated the 26th December, 1962, namely: —

1. (1) This Scheme may be called the Emergency Risks (Goods) Insurance (Third Amendment) Scheme, 1066.

(2) It shall come into force on the first day of October, 1966.

2. In the Emergency Risks (Goods) Insurance Scheme, for agraph 10, the following paragraph shall he substituted, namely:—-

"10. Rate of Premium.

(1) Subject to the provisions of sub-paragraph (2) the premium payable under any policy of insurance issued in respect of the quarter ending on the 31st day of December, 1966, shall—

(a) in the case of a policy in force on the 30th day of September, 1966, be nil;

(b) in any other case, be at the rate of six paise for every hundred rupeesor any part thereof of the sum insured, subject to a maximum 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- oarasranh (1). (1365 )

(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 the nearest rupee. The premium shall be payable in one lump sum in lespect of the entire quarter for which the policy is in force;

Provided that if any Roods become insurable or are insured under this Scheme after the com-riencement of the quarter, the premium shall be payable in one lump sum, which shal be equivalent to the amount payable in respect, of pcods insurable du ing 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 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 off to the nea eat rupee.

(4) Where the premium has been revised under sub-paragraph (2). the pro- visions contained in the proviso to sub-paragraph (3) shall apply for i.he purpose of calculation of the additional amount of premium payable or of the amount of premium refundable, as the case may be, as a resut of such revision, as if all the policies came into force on the date of such revision,

[No. F. 101 (5)-INS. I/C6-ERKI).]

S.O. 2841.—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 Government hereby mikes the following scheme further to amend the Emergency Risks (Facto iei) Tnsur

1. (1) This Scheme may be called the Emergency Risks (Factories'! Insurance (Third Amendment) Scheme, 1966.

(2) It shall come into force on the first day of October, 1966. 2. In the Emergency Risks (Factories) Insurance Scheme, for paragraph 8, the following parag aph shall be substituted, namely: —

"8. Rate of premium.

(1) Subject to the provisions of sub-uaragraph (2) the premium payable rnder anv r>oi;rv of i ^ s u r we issued in respect of the quarter ending on the 31st day of December, 1966, shall—

(a) in the case of a policy in force on the 30th day of September, 3966, be

nil;

(b) in any other case be at the rate of ten paise for every hund ed rupees or any part thereof of the sum insured, subject to a maximum of twenty-five rupees.

(2) The Central Government may. In its discretion, at any time during t ne said HUB ter revise Hie premium payable under the policies refened to in cub- paragraph (1).

(,3) Where the amount of any premium payable under sub-paracraph fl) involves 1 fraction of a rupee, the premium shil¹ be rounded off to th? nearest rupee. The t> errvum sh^l bp mvable in one lump sum in respect of the entire quarter for which the policy is in force;