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REGISTERED NO. D. 221

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (i)

PUBLISHED BY AUTHORITY"

No. 93] NEW DELHI, WEDNESDAY, MAY 28, 1969/JYAISTHA 7, 1891

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)

NOTIFICATION

INSURANCE

New Delhi, the 28th May 1969

G.S.R. 1275. In exercise of the powers conferred by section 114 of the Insurance Act, 1938 (4 of 1938), the Central Government hereby makes the following rules further to amend the Insurance Rules, 1939, the same having been previously published as required by sub-section (1) of the said section, namely:—

1. (l)These Rules may be called the Insurance (Amendment) Rules, 1969.

(2) They shall come into force on the 1st day of June, 1969.

(371)

2. In the Insurance Rules, 1939 (hereinafter referred to as the said rules), rule 10B •hall bo renumbored as sub-rule (1) thereof and after sub-rule (1) es so re-numbered. the following sub-rule shall be inserted, namely:—

"(2) (i) For tho purposes of sub-section (2) of section 27B of the Act, the following assets shall be deemed to bo assets invested or kept invested in approved investments specified in sub-section (1) of that section, namely:—.

(a) interest, dividend and rents (outstanding and accrued);

(b) cash ha hand and with banks (other than banks in liquidation) in current and collection accounts:

(c) blDs receivable;

(d) amounts due from other insurers in respect of reinsurance recoveries and deposits or reserves with other insurers In respect of treaties for rein- surances to be accepted".

(il) In respect of insurers specified in clause (c) of sub-section (16) of section 27B of the Act, three fourths of the value of the following assets shall also bo deemed to be approved investments specified in snb-section (1) of section 27B of the Act, namely:—•

(a) Motor Cars. (b) Stamps on hand. (c) Amount of income tax directed by the Income Tax authorities to bo ' refunded".

3. In rule IOC of the said rules, after sub-rule (2), the following sub-rules shall bo Inserted, namely:—

"(3) The return to be furnished under sub-section (1) of section 28B of the Act, shall show all the investments made out of the assets and subsisting as at the 31st day of December of the preceding year and shall be in Form IV-AA.

(4) The return to be furnished under sub-section (2) of Section 28B of the Act, shall be In Form IV-BB.".

4. Rule 10D of the said rules shall be renumbered as sub-rule (1) thereof and after illb-rule (1) as so renumbered, tho following sub-rule shall be inserted, namely:—

"(2) For the purpose of sub-section ( I t) o" section 27B the charge created in favour of ono or more banking companies in respect of assets offered as security for any loan taken for purposes of any investment or for payment of claims shall be subject to the condition that any loan taken against such assets shall be repaid within a period of three months".

5. In rule 16 of the said Rules,

(i) for the word and figure "Rs. 5", the word and figures "Rs. 15" shall be substituted, and

(ii) for the word and figure "Rs, 2", the word and figure "Rs, 7" shall be substituted.

6. In rule 16A of the said rules,—

(i) in clause (b) for the words and figures "Rs, 5 or Rs. 7" the words and figures "Rs. 15 or Rs. 22" shall be substituted.

(li) in the first proviso, for the word and figure "Rs. 30", the wora and figure "Rs. 75" shall be substituted.

7. In rule 16E of the said rules, after the words "A person to whom a licence or a, certificate has been issued", the words, figures and letter "under section 42 or section 42A of the Act" shall be inserted.

substituted.

8. In rule 17 of tho said rules, for the word 'life' the words "any class of shall bo • ^1{

9- After rule 17-A of the said rules the following rule shall bo inserted, namely:—

"17-AA. Form for declaration.—The declaration to be made in pursuance of sub* lection (5) of section 6A of the Act to a public company limited by shares having its registered office in India and carrying on general insurance busi- ness by a person who has any interest in any of its shares standing hi tho name of another person shall be in Form-V-GG."

10. In rule 17E of tho said rules,—

(i) in clause (ij of sub-rule (1), for the words and figures "not exceeding 15 pet cent", the words and figures "not exceeding in respect of fire insurance business 5 per cent and in respect of miscellaneous insurance business 10 per cent" shall be substituted;

(ii) in clause (i) of sub-rule (2), for the words "not exceeding in amount too per cent", the words "not exceeding in amount five per cent" shall be substituted.

11. Rule 17F of the said rules shall be renumbered as sub-rule (1) thereof and alter lub-nilo (1) as so renumbered, the following sub-rule shall be inserted, namely:-—

"(2) The share of the Head Office expenses in the case of an insurer having hta principal place of business in India for the purposes of sub-clause (i) of clause (b) of the Explanation to section 40C of the Act, shall not exceed 5 per cent of the gross premium income written direct outside India durinj tho year.".

i?,. After rule 17F of the said-rules, the following rules shall be inserted, namely:—

"17FA. Principal Office expenses.—For the purposes of sub-clause (ii) of clanw (b) of the Explanation to section 40C of the Act, the share of the ex- penses in the case of an insurer having his principal placo of business out- side India in respect of goneral insurance business transacted by him out- side India through his office in India shall not exceed 5 per cent of the gross premium, income written direct outside Tndia through his office in India during the year.".

13. Rules 17T, 17J and 17K of the said rules shall be omitted,

14. In rule 24 of the said niles, for sub-rule (2) the following sub-rule shall bo substituted, namely:—-

"(2) The fee for renewal of registration under section 3A of the Act for each class of insurance business for which the insurer is registered shall be—

(a) in the tasc of an insmci- not carrying on solely reinsurance business, one- fourth of one per cent of the total gross premium written direct in India in that class of insuranco business during the year preceding the year in which the application for renewal of registration is required to be made by tho insurer, (the amount of ice so arrived at, if not an integral number of rupee9, being rounded off to the next lower integral rupee), or five hundred rupees whichever is greater;

(b) in the case of an insurer carrying on solely reinsurance business, one- fourth of one per cent of the total premiums in respect of facultative reinsurances accepted by the insurer in that class of insurance business during the year preceding the year in which the application for renewal of registration is required to be made (the amount of fees so arrived at, if not nn integral number of rupees, being rounded off to the next lower integral rupee), or five hundred rupees whichever is greater.".

15. After rule 38 of the said rules, the following rules shall be inserted, namely:—

"39. Minimum information to be maintained and the checks and other verifier tions to be adopted.-—(1) Every insurer shall maintain at the principal place of business of the insurer in India the items of information specified in sub-rules (21 and (3):

Provided that where it is not convenient or practicable to maintain any item of information in full d-diil at such principal office it may be maintained at the branches cr other offices in such way however that each such branch or office maintains the relevant part of the information applicable to it" working:

Provided further that an insurer carrying on solely reinsurance business shall be deemed to have complied with the provisions of sub-rules (2) and (3) if the

information required to be maintained under those sub-rules is readily available from the records of such insurer.

(2) The following items of information shall be maintained in respect of each claas or sub-class or insurance business, namely:—

(i) a record of cover-notes issued specifying the identification number, name of party, dates of commencement and where applicable oxpiry of risk, type of cover granted or cross-reference to the relevant policy and the amount of premium or other money received:

Provided that if duplicate copies of cover notes are maintained in serial order, the requirement of this provision shall be deemed to have been complied with;

(ii) a record of policies, which should be serially numbered, listing all policies issued entered in chronological order, stating the number of policy, dates of commencement and expiry of risk, name of the insured, premium received, cross reference to the relevant Bank Guarantee or deposit and the nature of risk granted, cross reference to any cover-note issued prior to the issue of the policy and cross-reference to any endorsement passed subsequent to the issue of the policy; provided that a serially filed collec- tion of duplicate copies of policies issued shall be deemed sufficient com- pliance with this requirement, if they are serially numbered and all the relevant information specified in this clause are entered therein;

(ill) a record of premiums showing, according to chronological order of receipt of premiums received, date of receipt, the amount, and name of party from whom received and with cross-reference to policy number or to other document showing the occasion for the payment of such premium:

Provided that if this information is readily available otherwise from the records, a separate record under this head need not be maintained;

(lv) a record of endorsements mentioning the policy number to which attached, dates of commencement and expiry of the endorsement, the type of endorse- ment and the additional premium charged or refund premium due and cross reference to the premium register; provided that serially filed duplicate copies of endorsements shall he deemed to comply with this requirement if they are serially numbered and each copy contains information about the policy number of the policy to which it is attached;

(v) a record of bank guarantees and deposits giving particulars of the party, amount and conditions of guarantee or deposit and cross-reference to the relevant policy or policies;

Provided that if this information is readily available otherwise from the records, a separate record under this head need not be maintained;

(vi) a record of claims intimated mentioning name of claimant, giving re- ference to policy number, date of intimation of claim, interest covered, nature and cause of the loss or damage, provisional estimate of loss, amount at which settled, date of settlement of claim, recoveries frono salvage or otherwise and whether surveyed:

Provided that two separate records, one relating to claims intimated and the other relating to claims paid, may be maintained if there is adequate cross-refciencing of information between them and if the information required under this clause is readily available from them taken together.

(3) The following? items of information shall be maintained for the business of the insurer as a whole, namely:—

(1) a register of agents, giving in respect of each agent, name, address and particulars o£ agents' licence held, date of appointment and date of terminulion or appointment if any;

Provided that a collection of cards or folios shall be deemed sufficient compliance with tins requirement if they are filed in a systematic order and contain all the information required under this clause;

(ii) a record of agents giving particulars of business procured by each ftflMt the amount of premium received on such business and the amouiit *t commission paid thereon;

(iii) duplicate copies of appointment letters issued to the agents, field worket* and members of the staff and changes therein;

(iv) a record of employees, excluding salaried field workers, showing name, dale of appointment, present designation, present salary and cross-reference (ft appointment letter and date of termination, if any;

(v) a record of field workers showing name, date of appointment, present d e s i gn tion, and present salary, showing the business expected from and writtM by them with cross reference to appointment letters and date of te-rmiw tion, if any;

(vi) cash book and disbursement book; (vii) a record of investments giving separately for immovable property, securi*" and scrips, loans on mortgages and other loans, particulars of all tho Ik- vestments held and showing the changes occurring therein from time to time;

(vh'O a record of other assets, such as deposits, amounts due, sundry debtors, furrf- ture and fixtures, stationery, and cash in hand and with banks:

Provided that in respect of cash in hand and with banks the requirements of ffcfc clause shall be deemed to be complied with if the information about Alp amount of such cash is readily nvailable from the Cash Book or otiur records.

(4) Every insurer shall obtain and maintain a legally valid receipt for every pj^- ment made and shall maintain the receipts filed in a systematic manner either chronologically or in some other convenient order.

(5) Every insurer shall, in respect of any payment made to an employee or other person on account of travelling expenses, maintain a record showing f ij details of the journey performed, purpose of the journey, details of the turn paid and allowances granted.

(6> Every office of an insurer shall maintain an attendance register of clerical mtf subordinate staff indicating employees who attend the office each day. (7) Every office of an insurer issuing any documents used for evidencing of Him assumption of risk shall ensure that such documents are serially numbered, shall maintain a record of the serial numbers of the forms of documenB Issued to each person, and shall maintain a proper check to verify that all tho forms of documents issued are properly accounted for.

(8) Every insurer shHll retain all the documents relating to claims settled, including

copies of any survey or loss assessment reports connected therewith:— (i) in respect of every loss or damage on which a claim of less than Rs. 5,000 has been made, for a period of three years;

(ii) in respect of every loss or damage on which a claim) of Rs. 5,000 or more but less than Rs. 20,000 has been made, for a period of five years; (iii) In respect of every loss or damage on which a claim of Rs, 20,000 or more but less than rupees one lakh has been made, for a period of seven yean; and

(iv) in respect of every loss or damage on which a claim of rupees one lakh or more has been made, for a period of twelve years;

such period being counted from the date on which the claim is settled;

(9) Every insurer shall maintain a record setting out the names of each insurance company with which he has entered into any permanent facultative re-insur- ance arrangement, and such record shall show the terms on which the reinsur- ance arrangements have been entered into and the commissions paid or received under each transaction.

(10) Every insurer shall maintain a record setting out particulars of each and eveiy facultative reinsurance ceded or accepted and such record shall show tftp name of each insurer with whom the transaction has been entered into.

(11) Every insurer shall maintain a record setting out the names of each insurer with which he has entered into reinsurance treaties from any of hfs onlc**

in India, and such record shall include all the details of the terras of the treaties.

(12) (a) Every insurer shall maintain the following accounts in this ledgers,

namely :—

(i) Reinsurance Accepted Account;

(ii) Reinsurance commission paid Account;

(iii) Reinsurance Claims Payable Account; (iv) Reinsurance Claims Paid Account; (v) Reinsurance Ceded Account; (vi) Reinsurance Commission received Account;

(vii) Reinsurance Claims Recoverable Account; (viii) Reinsurance Claims Recovered Account; (b) An insurer shall be deemed to have complied with the provisions of clause (a), if the information required is otherwise readily available from the existing books and accounts of the insurer.

40. Search and Seizure.—(1) The powers of search and seizure under section 34IJ of the Act shall be exercised in accordance with sub-rules (2) to (14).

(2) The Controller may, after recording his reasons for doing so authorise aay officer subordinate to him not lower in rank than pn Assistant Controller of Insurance, (hereafter in this rule referred to as the authorised officer) for tho purposes of section 34H of the Act; provided that such authorisation shall—

(i) be In writing under his signature;

(ii) bear his seal, and

(iii) authorise the authorized officer to enter and search acy building or place specified therein, and to exercise the powers and perform the functions under sub-section (1) of section 34H of the Act with such assistance of police officers or of the officers of the Central Government, or both, as may be required.

(3) Whenever any building or place authorised to be searched Is closed, any person residing in or being in charge of such building or place shall on demand by the authorized officer and on production of the authority allow him free ingress thereto and afford all reasonable facilities for a search therein.

(4) If ingress into such building or place cannot be so otrtaiVsd It shall be lawful (or the authorized officer executing the authority, with such assistance of police officers or of officers of the Central Government or of botn as may be required, to enter such building or place and search therein and hi order to effect an entrance into such building or place, to break open any outer or inner door or window of any building or placq, whether that of the person to be searched or of any other person, it after notification of his authority and purpose and demand of admittance duly made, he cannot otherwise obtain admittance:

Provided that, if any such building or place is an apartment in actual occupancy of a woman, who according to custom doej not appear in public the authorized officer, shall, before entering suet apartment, give notice to such woman that she is at liberty to withdraw and shall afford her every reasonable facility for withdrawing and may then break open the apart- ment and enter it

(5) The authorized officer may require any person who Is Jie owner, or has the immediate possession, or control, of any box, locker, safe, almlrah or any other receptacle situate in such building or place, o open the same and allow access to inspect or examine its contents, and where the keys thereof are not available or where such person fails to comply with any such requirement, may cause any action to be takea including the breaking open of such box, locker, safe, almirah or other receptaoue which the authorized officer may deem necessary for carrying out BII or any of the purpose* specified in the authority issued under sub-rule (2)

authorized officer who may take such steps as may be necessary for ensuring compliance with this sub-rule.

(7) Where any person in or about such building or place is reasonably suspected of concealing about his person any book, account or document for which search is being made, such person may also bo searched by the authorized officer with such assistance as he may consider necessary. If such person is a woman, the search shall be made by another woman with a strict regard to decency.

(8) Beforo making a search, the authorized officer about to make it shall call upon two or more respectable inhabitants of the locality in which the building or place to be searched is situate to attend and witness the search end may issue an order in writing to them or any of them so to do.

(9) The search shall be made in the presence of the witnesses aforesaid and a list of all books, accounts and documents seized in the course of such search and of the places in which they were respectively found shall bo prepared by the authorized officer and signed by such witnesses; but no person witnessing a search shall be required to attend as a witness of the search fn any proceedings under the Act unless specially summoned.

(10) The occupant of the building or place searched or some person in his behalf shall be permitted to attend during th" search and a copy of the list prepared under sub-rule (9) shall be delivered to such occupant or person. A copy shall also be forwarded to the Controller.

(11) When any person is searched under sub-rule (7) a list of all books, accounts BBS documents taken possession of shall be prepared and a copy thereof ihaH be delivered to such person. A copy shall also be forwarded to the Controller.

(12) Too authorized officer may convey the. books, accounts and other documen*, if any, seized by him in the course of the search made by him to the office of the Controller or 10 the office of the authorized officer or to any other office under the jurisdiction of the Controller.

(13) The Controller or the officer in charge of tho office mentioned in sub-rule (12), as the case may be, shall take suoh steps as he may consider necessary^ tor the safe custody of books, accounts and other documents conveyed to him.

(14) The authorisation of the Controller referred to in sub-rule (2) shall be in Forta No. XVH.

TARIFF ADVISORY COMMITTEE

41. Constitution:—(1) The representatives of insurers on the Tariff Advisory Com- mittee thereinafter in this rule and in rules 42 to 54 referred to as the Com- mittee) shall bo elected as follows, namely:—

(a) one member to be elected by insurers registered urider the Act In the public sector that is to say the Life Insurance Corporation of India and the insurert whose majority shares are held by the Life Insurance Corporation of India or by the Central Government;

(b) four members to be elected by Indian insurers reg'stcred under the Act other than those specified under clause (a) having their principal offices in the Bombay area;

(c) two members to be elected by Indian insurers registered un'der the Act other than those specified under clause (a) having their principal offices in the Calcutta area;

(d) one member to be elected by Indian insurers registered under the Act other than those specified under clause (a) having their principal offices in the Delhi area;

(e) two members to be elected by Indian Insurers registered under the Act other than those specified under clause (a) having their principal offices hi the Madras area;

(f) three member* to be elected by insurers Incorporated or domiciled elsewhere than In India but registered in India, and having their principal place of bmteets in India in the Calcutta area;

(g) one member to be elected by insurers incorporated or domiciled elsewhere than in India but registered in India, and having their principal place of business in India outside tho Calcutta area;

(2) For the purpose of this rule if any dispute arises as to which area an insurer belongs to, the Controller shall decide the question and bis decision shall bo flnaL

42. Term of Office:—(1) The Vice-Chairman and the Secretary of the Committee shall hold office during the pleasure of the Controller.

(2) The term of office of every elected member of the Committee shall be three yean from tho first day of October of the year of election.

Provided that tho Central Government may, at its discretion, extend the term of office of all the elected members by a period not exceeding three months and in that case the terra of office of the newly elected members shall commence from the expiry of such extended period but shall expire on the expiry of a priod of three years from the 30th September of the year of election, unless extended under the provisions of this proviso.

43. Election of Members:—(I) Election of members shall be held in every fourth calendar year, the first election after the commencement of the Insurance (Amendment) Act, 1*68 (62 of 1968) being held before 30th September, 1969. (2) Every election shall be conducted by the Secretary to the Committee under the directions of the Controller in accordance with the procedure specified in Sche- dule n.

44. Raslgnatlon and Filling of Casual Vacancies-—(1) Any member of the Committee may resign his membership of the Committee by notice in writing addressed to the Chairman to that effect and such resignation shall take effect from the date on which it is accepted by the Chairman or on the expiry of thirty days from the date of resignation, whichever is earlier.

(2) Casual vacancies in the office of the elected members of the Committee whether caused by resignation, death or otherwise, shall if It occurs within a period of two years from the last date of election of the Committee, be filled by e bya-elcction conducted in the same manner as a normal election and in anj other case by cooption by the committee of a person to represent the same interest as the person in whose place be is being co-opted represented, and any person, so elected or co-opted to fill the vacancy shall hold office unti: the expiry of the term of office of the member in whose place he is nominated. 45. Any elected or co-opted member of the Committee fairing to attend three consecutive meetings of tho Committee without leave of absence shall ipso-facto cease to be a member of the said Committee.

46. Removal of a Member.—(1) The Central Government may remove any elected member at the Committee, who, in the opinion of that Government, has so flagrantly abused in any manner his position as a member as to render his continuance as a member detrimental to the Interests of the insurance industry.

(2) No member shall be removed under sub-rule (1) unless he has been given a reasonable opportunity of showing cause against his removal.

47. Procedure for the conduct of Business of the Committee.—Procedure for the conduct of business of the Committee shall be as follows, namely:—

f 1) Meetings of the Committee.—Meetings of the Committee may be held at such places an'd at such times as may be decided by the Chairman of the Com- mittee.

(2) Notice of the Meeting.—Notice of any meeting of the Committee shall be sent by the Secretary of the Committee to every member at least seven days before the date of the meeting. The notice shall state briefly the business to be transacted at the meeting,

(3) Quorum for the meeting.—Five elected or co-opted members shall constitute the quorum for a meeting.

(4) Adjournment of a meeting.—It the requisite quorum is noi available within half an hour of the appointed time for a meeting thf Chairman or tn his absence the Vice-chnirman or in the absence of both the Chairman and the Vicc-chmrrmn anv person elected to pnHde under sub-rule (M mav ndimirn the meeting to such date and time as he may decide and at such adjourned meeting no quorum shall be required.

(5) Chairman to preside at meeting.—The Chairman or in his absence the Vice- Chairman shall preside at all meetings of the committee. If both tho Chairman and the Vice-Chairman are unable to attend, the Committee may elect one of its members to preside at the meeting but no matter involving any financial implication shall be discussed at such a meeting.

(6) Decision at a meeting.—All matters required to be decided by the Committee shall be decided by the majority of the votes of tho members present, the President at the meeting having a casting vote. The voting shall be by show of hands.

(7) Decision by circulation.—Any matter for consideration of the Committee may at the discretion of the Chairman be decided by circulation among the members as an alternative to convening a meeting for the purpose-

Provided that the decision arrived at shall not be valid unless at least five

elected or co-opted members express an opinion on that matter.

(8) Minutes.—The minutes of the proceedings of every meeting shall be recorded and signed by the person who presided at the relevant meeting and shall be circulated to all the members of the Committee.

48. Travelling and Daily Allowance-—(1) Every non-official member shall be entitled for attending meetings of the Committee to travelling and other allowances as under:—

(i) travelling allowance tot journeys from "the usual place of residence or the place of commencement of the journey to the place of the meeting and the return journey to the place of commencement of the journey or the usual pla"j of residence, whichever is shorter in each case, at the maximum rate for the time being admissible to a Central Government servant of the first grade. Subject to the foregoing, the members shall be entitled to travel either by air-conditioned class or by air;

(ii) daily allowance at the maximum rate for the time being admissible to Central Government servants of the first grade at the place of the meeting for the days on which the meeting is held and in respect of one day previous to the commencement of the meeting and one day after the meeting if the member actually arrives on or before and leaves on or after the respective days,

(2) The travelling and daily allowances of an official member shall be governed by the rules applicable to him for journeys performed on official duty. 49. Fees of Members.—A member, not being an officer of the Central Government, shall be paid fees by the Committee for attending meetings of the Committee of Rs. 50/- for each day of the meeting.

50. Functions of the Tariff Advisory Committee.—The functions of the Tariff

Advisory Committee shall be the following, namely:—

(a) to control and regulate from time to time and to the extent it deem" expedient the rates, advantages, terms and conditions that may be offered by insurers in respect of any risk or of any class or category of risks, the rates, advantages, terms and conditions of which, in its opinion, it is proper to control and regulate;

(b) to collect from any insurers such information or statements, periodical or ad hoc, as it may consider necessary to enable it to dlschargo Its functions under Part 1IB of the Act:

(o) to constitute Regional Committees and sub-Committees and, by regulations made with the previous approval of the Central Government, to 'delegate to them from time to time such powers and functions as may be deemed necessary or expedient and withdraw or alter from time to time such powers and functions:

(d) to make, with the previous approval of the Central Government, regulations for all or any of the matters specified in sub-section (3) of section 64UB of the Act:

(e) to fix the amount of fees payable by insurers and to fix fees and charges to

cover the cost of any specific services rendered by it;

IT) to Invest, deal with or otherwise dispose of any of the monies or property or assets of the Committee and from time to time vary and realise such investments;

(g) to make and give receipts, releases and other discharges for monies payable for goods or property belonging to the Committee and tor me claim* and the demands of the Committee;

(h) to sanction all expenditure for the purpose of carrying out its functions and duties;

00 to decide all subjects and matters as may be referred to it by the Regional Committees;

(j) to appoint such officers and servants as may be necessary and fix the conditions of their service.

(k) to sign, seal, execute and 'deliver all instruments, Jjeds, documents or writings necessary or expedient for the purpose of carrying out its dutiea and Junction;.;

(1) to invite to its meetings any person whose presence is necessary or desirable for transaction of the business of the meeting;

Cm) to make arrangements, at any time, on the application of an insurer, for the inspection of an organisation which is concerned with the inspection of risks, adjustment of losses or fire fighling appliances and, wnencver necessary, to advise insurers about the adequacy of the arrangements for the inspection of risks and adjustment of losses or the suitability of such appliances

(n) to do all such acts and conduct all such matters as may be necessary, incidental or ancillary to any of the matters specified in clauses (a) to (m) or in order to effectively discharge the functions vested hi the Committee by the Act

II. Regional Committees.—The elected representatives in the Regional Committee for any prescribed area shall be elected as follows, namely:—

(i) one or two members, as the Advisory Committee mav fix, shall be elected by insurers incorporated outside India and registered under the Act and carrying on general insurance business in that area;

(ii) such number of members, as the Advisory Committee may fix not exceeding four or not exceeding three according as one or two members are to be elected under clause (i), shall be elected by Indian insurers registered under the Act and carrying on general insurance business in that area.

(2. Appeal by agents against disciplinary action.—The Central Government may for the purpose of disposing of any appeal under sub-section (J) of Section 64UI of the Act require such information supported by documentary proof wherever possible from the agent concerned as it may require.

13. The fees payable to the Tariff Advisory Committee'—The fees payable to the Tarifl Advisory Committee under sub-section (1) of Section 64UK in respect of a calendar year shall be paid before the 31st December of that year and shall be paid by means of a crossed bank draft on any Branch of the State Bank of India in Bombay City drawn in favour of the Committee.

4 Apportionment of Provident Fund.—Where on or after the commencement of the Insurance (Amendment) Act, 1968 (62 of 1968) all the employees of the Tariff Committee and the Regional Councils of the General Insurance Council do not become employees of the Taritf Advisory Comminee under section 64UH of the Act, all the moneys and other assets belonging to the provident fund or superannuation fund or any other like fund referred to in sub-section (3) of section 64UF of the Act shall be apportioned between the Tariff Advisory Committee and the trustees of the fund in the following manner, namely:—

(I) the moneys and other assets of any provident fund shall be apportioned in the proportion which the total of the amounts lying to the credit of the persons becoming employees of he Tariff Advisory Committee bean to the total of the amounts lying to the credit of the persons who do not become employees of the Tarifl Advisory Committee;

ffl) the moneys and other assets of any superannuation fund shall be anfnrtirmed in the proportion which the liability of the fund In respect of the r<-vWns becoming employee* of the Tariff Advisory Committee bcnr<; to * "m)flar liability in respect of persons who do not become emplovw of the Tariff Adviiory Committee, "uch liability to be ascertained on swb " aw

as may be determined by Ihc tariff Advisory Committee and approved by Liie Central Government; and

(uij the moneys and otlici ussets of any other like fund shall be apportioned m accordance with tne principles set out in clause (i) or cl

Explanation.—For the purposes of this rule the assets of a provident fund, supcmnudlion fund or any oth

Licensing of Surveyor & Loss Assessors

55. Licence fee for Sunlayors or Loss 4ssessors and Collection thereof,—(1) The fee for obUinintj ,.< licence to act as a Surveyor or Loss Assessor shall be Rs. 250 and for renewing such licence shall bo Rs. 200.

(2) Any fee specified in this rule shall bo paid into the Bank or where there is no office or the Bank, into the Stato Bank of India actinn as the a"ent of that Bank or into any Government Treasury for credit under the central head "XXf—Miscellaneous Departments—Fees realised under the Insurance Act, 1938" and the receipt shall be sent along with the relevant application.

56. Isstie of licences to Surveyors or Loss Assessors—An Applicant who desires to obtain

(e) the applicant shall obtain from the Controller of Insurance a form of appli- cation for a licence which shall be,—

(i) in the case of an individual, whether working as a sole proprietor o£ a Sim or not Form XVIII—AI or X V m ~ B. I Form XVIII—AI shall bo used when the applicant applies for a licence for the first time or for a fresh licence, while Form XVIII—B I shall be used when the applicant applies for the renewal of the licence already held by him;

(fi) in the case of a company or firm, Form XVIII—AF, or Form XVIII—BF. Form XVIII—AF shall be used when the applicant applies for a licence for the first time or for a fresh licence, while Form XVIII—BF shall be used when the applicant applies for the renewal of the licence already held by him:

(c) the Controller of Insurance or the officer authorized by him may, after taking all reasonable steps to satisfy himself that the application is in order, that the applicant fulfils the requirements of clause (D) of sub-section (1) of section 64UM of the Act and that the applicant is not disqualified from holding a licence, issue a licence to him or, as the case may be, renew the licence. The licence shall be in Form XVIII—AAI in the case of an indivi- dual and in Form XVIII—AAF in the case of a company or firm. Rene- wal of licence shall be in Form XVIII—BBI in the case of an individual and in Form XVIII—BBF in the caso of a company or firm;

(d) no application for the renewal of a licence shall be entertained if It does not reach the .isntroller at least thirty days before the date on which the licence ceases to be in force.

Sufficiency of Assets

Manner of bringing up the excess of the value of assets over the amount of tht liabilities to the relevant amount.—-(1) In the case of an insurer carrying on ETII-'-'¹ ininranrr binineis at the commencem-nt of the Tnsnrnnce (Amendment) Act, 1968 (62 of 1968) the excess of the value of his assets over the amount of his liabilities shall be brought upto the 'relevant amount

as defined in sub-section (1) of Section 64 VA of the Act, In four stages at specified in the following table :—

TABLE

STAGE DATES Excess of the value of the assets over the amount of liabilities to be maintained as at the date mentioned in column (2) and thereafter, shall be not less than.

( 1)

(3)

W

One fourth of the 'relevant amount' arrived at in the manner specified 31-12-1969

g.

in sub-section (1) of section 64 VA of the Act.

II

One half of the 'relevant amount" arrived at in the manner specified 3I-I2-I97O

in sub-section (1) of section 64 VA of the Act.

Three fourths of tha 'relevant amount' arrived at in the manner III

3I-I2-I97I

specified in sub-section (1) of section 64 VA of the Act,

The 'relevant amount' arrived at in the manner specified in sub- IV

31-12-1972

section (1) of section 64 VA of the Act.

(2) Where in the case of an insurer referred to in sub-rule (1) the Central Gov- ernment has, under the provisions of the third proviso to sub-section (1) of section 64VA, extended the date of 31st December 1972 referred to in the said proviso to a subsequent date, the excess of the value of assets over the araouat of the liabilities shall be brought up to the relevant amount In four stages in accordance with sub-rule (1) bat the dates mentioned in column (2) of the Table in that sub-rule shall be deemed to have been altered as follows :—

(a) the date against Stage I shall be extended by one fourth of the interval

between 31st December 1972 and the extended date;

(b) the date against Stage II shall be extended by one half of the interval bet-

ween 31st December 1972 and the extended date;

(c) the date against Stage III shall be extended by three-fourths of the interval

between 31st December 1972 and the extended date;

(d) In Stage IV, the extended date shall be substituted in placo of the 31st Dec-

ber 1972 mentioned against that stage:

Provided that if any such altered, 'date against stages I, II or III is not the last day of a calendar month, it shall be changed to the last day of the Imme- diately preceding calendar month.

58. Advance Payment of Premiums.—For the purposes of sub-section (1) of sec- tion 64VB of the Act, a risk in respect of a policy may be assumed before the premium payable in respect thereof is received :—

(I) if the entire amount of the premium is guaranteed to be paid by a Banking Company before the end of the calendar month next succeeding to the month in which the risk is assumed, if the premium due is not paid by the insured before that date;

(11) if an advance deposit is made with the insurer to the credit of the Insured sufficient to cover the payment of the entire amount of the premium together with the premium, if any, due from the insured in respect of any other risk already assumed against such deposit, such deposit being agreed to be adjusted towards the premium before the end of the month next succeeding to the month in which the risk is assumed, if the premium due is not paid bv the insured before that date.

SEC. 3UJJ THE CiAZKlTti OF 1MU1A EX1KAOKD1NAKY 383

59- Relaxation.—In respect of the categories of insurance policies mentioned here- under the requirements of sub-section (1) of section 64Vb shall stand relax- ed to the extent and in the manner mentioned against each category of policy, subject to the conditions mentioned therein ;-—

(a) Policies issued to Government and semi-Government bodies.—The risk may be covered on such policies on the strength of an undertaking by tho proposer to pay the premium within 30 days of the date of intimation of the amount of premium or within such further period as tho Controller may fix in any particular case.

(b) Policies under Sickness Insurance Scheme.—Premiums on such policies may be accepted in instalments provided that the instalment covering a parti- cular period shall be received on or before the date of commencement of the period.

(c) Fidelity Guarantee Insurance^—Fidelity Guarantee insurance policies cover- ing Government employees from the date of appointment may be issued. (d) Policies covering risks where exact premium cannot be ascertained without reference to Head Office, Principal Office etc.—Whei-e the exact premium for a risk cannot be ascertained without reference to Head Office, Principal Office or Controlling Office or to the Tariff Advisory Committee or Regional Committee or for any other reason, the risk may be assumed if there is a deposit made by or on behalf of the insured with the insurer at a suitable rate not less than 2.5 per mille but the premium in such cases shall be paid or adjusted within thirty days of the commencement of risk or, where a reference is made to the Tnriff Advisory Committee or a Regional Committee, within fifteen days of the date of the advice from the Tariff Committee or the Regional Committee as the case may be, failing which the cover shall be cancelled on the expiry of the period of thirty days or fifteen days as the case may be. Provided that in the case of policies covering Carriers' Liability, the adjustment of premium may be made after the expiry of the policy.

(e) Declaration Policies.—Risk in respect of such policies mny be assumed if at least the premium calculated on 75 per cent of the sum assured has been received before assumption of the risk.

(f.) Policies Issued on the basis of adjustable premiums—Risk .in respect of policies issued on the basis of adjustable premiums such" as workmen's compensation, cash in transit etc. may bo assumed on receipt of provisional premiums based on a fair estimate.

(g) Annual Insurances connected with aircraft hulls and connected with marine hulls.—Facilities for delayed payment of premium on such policies, or the payment of premium by moans of instalments not exceeding four in number and on the basis of an approved clause, may be allowed at the discretion of the insurer, provided that such clause is endorsed on the policy.

(h) Short period covers in respect of Insurance connected with aircraft hulls and marine hulls.—Short period covers may be granted on such risks on a held covered basis, subject to the condition that the premium or additional pre- mium in respect of risks assumed in a calendar month shall be paid by end of the next calendar month.

(i) Policies issued for long term,—In the case of policies issued for long term, such as Contract Performance Bonds or Guarantees, Contractors' "All Risks" policies, Machinery Erection policies and the like, the premium may be staggered as necessary according to custom, over the period of the cover, provided that the first equated instalment is higher than any other instalment by at least 5 per cent of the total premiums payable and each instalment is paid in advance. Where the premiums are payable by decla- rations, they may be paid within fifteen days from the dates of receipt of declarations.

(j) Schedule and Consequential Loss Policies.—In such cases a provisional amount towards the premium shall be collected before the date of inception or renewal of risk on the basis of the previous year's premium.

(k> Marine covers other than Hulls—(i) In the case of inland shipments and transit risks, risk may be assumed under open policies ir" respect of seasonal crops such as tea, on the payment of a provisional premium based on a fair estimate,

(ii) In the case of exports overseas, risk may be assumed sub.iect to the condi- tion that the premium shall be paid within fifteen days from the date of sailing of the overseas vessel.

(iii) In the case of imports, risk may be assumed subject to the condition that the premium shall be paid within fifteen days of the receipt of declaration in India from the insurer's or insured's representative overseas :

Provided that the relaxations under sub-clauses (ii) and (iii) shall apply to marine cover notes only and not to marine policies.

(1) Policies relating to co-insurances.—The premium shall be deemed to have been duly paid if paid on the full insurance to any one of the co-insurers,

(m) Policies of reinsurance.—Risk, may be assumed without payment of premium in advance in insurances accepted under automatic reinsurance contracts.

Consultative Committee

60. Term of Office-—-Any person nominated as a member of the Consultative Com- mittee constituted under sub-section (1) of section HOG of the Act (here- after in this rulo and rules 61 to 65 referred to as the Committee) shall hold office during the pleasure of the Central Government and subject thereto for a period not exceeding three years or such further periods not exceeding three years at a time as the Central Government may specify.

61. Resignation and filling of casual vacancies.-—(1) Any member of the Committee may resign his membership of the Committee by notice in writing addressed to the Secretary to the Government of India, Ministry of Finance (Depart- ment of Revenue and Insurance) to that effect and such resignation shall take effect from the date on which it is accepted by the Central Governments

(2) Casual vacancies in the Committee whether caused by resignation, death or otherwise shall be filled by nomination by the Central Government.

62. Secretary.—The Central Government may appoint a Secretary to the Com- mittee for the purpose of performing such functions as are assigned to him' by these rules or as may be assigned to him by the Chairman of the Com- mittee

63. Procedure for the conduct of business of the Committee.—Procedure for the conduct of business of the Committee shall be as follows, namely:—

(1) Meetings of the Committee.-—Meetings of the Committee may be held at such places and at such times as may be decided by the Chairman of the Committee.

(2) Notice of Meeting.—Notice of any meeting of the Committee shall be sent by the Secretary of the Committee to every member at least seven days before the date of the meeting.

(3) Quorum for the meeting.—Two members in addition to the Chairman shall constitute quorum for a meeting.

(4) Adjournment of a meeting.—If tho requisite quorum is not available within half an hour of the appointed time lor a meeting, the Chairman may ad- journ the meeting to such date and time as he may decide,

(5) Chairman to preside at meeting.—The Chairman shall preside at all meetings of the Committee.

(6) Record of deliberations.—The results of the deliberations of every meeting shall be recorded in the form of a note explaining, in brief, the matters referred to the Committee and the recommendations thereon of each of the members (other than the Chairman) present. Such record shall be signed by tho Chairman and the members present.

(7) Circulation.--Any matter for consideration of the Committee may at the discretion of tho Chairman be referred to the members for suggestions by circulation as an alternative to conveniflg a meeting for the purpose,

64. Allowances payable to members of the Consultative Committee.—(1) Every non-ofrV.-ial member shall be entitled for attending meetings of the Com- mittee to travelling and other allowances as under:—

(i) travelling allowance for journeys from the usual place of residence or the place of commencement of the journey to the place of the meeting and the return journey to the place of commencement of the journey or the usual place of residence, whichever is shorter in each case, at the maximum rate for the time being admissible to ;i Central Government servant of the llrst grade. Subject to the foregoing, the member shall be entitled to travel either by air-conditioned class or by air;

(ii) daily allowance at the maximum rate for the time being admissible tc Central Government servants of the first grade at tho place of tho meeting for tho days on which the meeting is held and in respect of one day previous to the commencement of tho meeting and one day after the meeting if the member actually arrives on or before and leaves on or after the respective daya.

(2) The travelling allowances and daily allowances of an official member shall be governed by the rules for the time being applicable to him for journeys performed on official duty.

65 Fees of Members.—A non-official member shall be entitled to a fee for attend- ing meetings of the Committee of Rs, 100 for each day of the meeting."

16. In the siid r ile*. the itisiing Schedule shall be renumbered as Schedule I thereof and in schedule I as so renumbered,—

(a) After Form IV-A, the following Form shall be inserLed, namely—

' FORM IV-AA

[See Rule ro C (3)]

Return of investments of the as5ets of the (insurer) as a: 19 . (See Section 28B(l) of the Act)

(Please see the notes appended lo the form)

PART A.. (InvcKmints . n p t w sl under, section 27B(r)of the Insurance Act, 1938).

(t) G jvemmrni securities "n J other securities charge.! on the revenues of the Central Govern- ment or of 1 State Givici n-ntor giarant.ee>! fully as regurds principal and interest by the Central Government or a Stin Gwem mnt j nj specified us approved securities by the Central Govern- ment.

Full -bscriprjon Oucof D ue of R u* of Kics Jink Market Remarks of the sec lriiy pirjlii-.? Mitifity Interest Value VaUe Value

(2) Approved s—a.-ili.s oLhir tain ihose referred to in item (1) above [See section 2(3) of the Act]

FiLlIda,;ription Date of Ditcif Rale of Focc Book Market Remarks of ths s;;ii-itv iJi j u ,; VltUnty Interest Value Vulue Value

(3) Securities issued by the Government of any country outside India,

Full description Date of Date of Rate of Face Book Market Remarks of the security Purchase Maturity Interest Value Value Value indicating the name of the country

(4) Debentures or other securities for money issued with the permission of the State Govern- ment by any Municipality in a State,

- [See section 27-B(i)(a) of the Act]

Full description Date of Date of Rate of Face Book Market Remarks of the Debenture Purchase Maturity Interest Value Value Value

or Security

(5) Debentures or other securities for money issued by any authority constituted under any housing or building Bcheme approved by the Central Government or a State Government or by any authority or body constituted by any Central Act or Act of a State Legislature.

[See section 27-B(i) (a) of the Act]

Name of the Name of the Date of Maturity Rate of Face Book Market Remarki housing or Govt. approv- invest- date of Interest Value Value Value building ing the scheme ment the De- scheme or the Act un- bentures

der which the or security scheme is con- stituted

(6) Firet Mortgages on Immovable property situated In India under any housing or building Scheme of the Insurer approved by tho Central or a State Government.

[Se* section 27-B(i) (a) of the Act]

Location of Value of the Amount Date of Rate of Name of Amount out- Remarks tho property property (date advanced Advance Interest the State standing

approv-

of last valua- tlon of the property)

ing the Principal Interest* scheme and dale of ap- proval

•If outstanding for more than one year tho fact should also be stated.

(7) Immovable Property situated in India or in any country where the Insurer is carrying on insurance business.

[See section 27-B(i) (a) of the Act]

Situation of the Land or Whether Date of Amount Net An- Whether Remarks property Building land is Purchase invested nual Ren- free from

or both lease-hold by the tal value all encum- or free- insurer of the brances hold property

i •". net of taxes main- tenance, deprecia- tion, etc.

(8) Fixed deposits with Banks included in the second Schedule to the Reserve Bank of India Act, 1934, or Co-jperative Societies registered under tho Co-operative Societies Act, 191a or any other law for the time being in force the primary object of which is to finance Co-operative societies similarly registered.

[Set section 27-B(i) (a) of the Act]

Name of the Bank or  Date of    Rate of    Period  of Amount of     Whether        Remarks
Cooperative society   Deposit    Interest  Deposit    Deposit       Section
with address**                                                      27-BC10)
                                                                    satisfied

(9) Debentures and Shares of Co-operative Societies registered under the Cooperative Societies Act, 1912, )r any other law for the time being ia force.

[See section 27-B(i) (a) of the Act]

Remarks Name and Date of Dace of Debentures Shares address of purchase maturity Society of Dc- Face Book Market Face Book Market bentures Value Value Value Value Value Value

(10) Debentures secured by a firs t charge on any immovable property, plant or equip- ment, of any company which haj paid interest in full for three years Immediately preceding or tec " lent ih;ce out uf four or five years immediately preceding on such or similar deben- tures issued by the company.

[S"" section 27B(i) (b) of the Act]

Name  of    Date   of  Date of pur-  Whotner  the  Rate of  Face   Book    Mar-   Remarks
the  Com-   issue  of  chase by  the charge is  on interest Value   Value  ket
pany        debenture  insurer       property,                             Value

plant o:

equipment

(11) Debentures secured by a first charge on any immovable property, plant or equipment of any^company where, either the book value or the market value, whichever is less, of such property, plant or equipment is more than twice the value of the debentures.

[See section 27-B (1) (c) of the Act]

Name'of the Date of Date of Rate of Face Book Market Remarks Company purchase Maturity Interest Value Value Value

of the de- bentures

(12) First debentures secured by a floating charge on all Its assets or by a fixed charge on fixed assets and floating charge on all other assets of any company which has paid dividends on Its equity shares for the three years immediately preceding or for at least three out of the four or five year* immediately preceding the date of the investment.

( 5M "ection>7-B (i) (d) of the Act)

Name of the Date of Date of Rate of Face Book Market Remarks company purchase maturity interest Value Value Value

by the ofdeben- in surer tures

[ (13) Preference shares of any company which has paid dividends on its equity shares for the throo yoari iimiiJately preceding or for at least three out of four or five years immediately pre- ceding.

(Se" section 27-B (1) (e) of the Act)

Name of the       Date of     Rate of    Whether    Face        Book       Market       Remarks
company           purchase    Interest   redeem-    Value       Value       Value
                   by  the               able and
                   insurer                if so date
                                          of  re-
                                          demption
     (14)  Preference shares of any  company on which  dividends have been  paid for the three year*
immediately  preceding or for  at least three  out  of four  or  five  years immediately  preceding  and
which  have  priority in  payment  over  all the  equity  shares  of the  company in  winding up.
                            (Ste  section  37-B (1) (f) of the  Act)
Name of the       Date of    9hte  of    Whether    Face       Book        Market      Remarks
company           purchase   Interest    redeem-    Value      Value       Value

able and

if so date

of redemp-

tion

(13) -Shares of any company which have been guaranteed by another company such other

company having paid dividends on it" equity shares for the three years immediately preceding or

for at lean three out of the four or five yeirt immediately preceding.

(Sw section 27-B(t) (g) of the Act)

Name of the Natne of Date of Face Book Market Whether Remarks

Company the gua- purchase Value Value Value proviso to

ranteeing

Company

Sec. "7-B

(1) (g)

complied

with

(16) Share* of any company on which dividends of not less than four per cent, including bonus

have been paid for the three years Immediately preceding or for at least three out of the four 07

five years immediately preceding.

(Su section *7-B(i) (h) of the Act)

Name of the Date of pur- Face Value Book Value Market Value Remarks

company chase

(17) First Mortgages on immovable property situated in India or in any other country wher*

the insurer it carrying on insurance business.

[SM section 27B (l) (i) of the Act]

Situation of the Whether Whether Outstand- Outstand- Type of Date of Value of

property and land or land is ing period ing period/ mortgage mortgage the land

name of the buildings lease-hold of the term of

owner or both or free- mortgage the lease,

hold if property if the pro-

it lease- perty is

hold lease-hold

Value of the Date of Amount advanced on Rate of Outstanding amount Remarks

Buildings last valua- the Mortgage interest

tion of the Principal Interest

property Land Buildings

and name

of the

Valuer

(18) Other investments notified under clause (D of snb-seccion (1) of section 27B of the Act.

Description of Date of Face Book Market Interest or dividend Remarks

the investment purchase Value Value Value paid ten

PART B

[Relating to investments held Invested under Section 27IK3) of the Insurance Act, 1938 in

re"pect of which a resolution has been adopted In terms of that section]

(1) as per cent of the assets referred to in sub-section (3) of section 27B of the Act estimated u at the date of this return.

(a) Particulars of investments.

Date Pace Book Market Name of Value Value Directors

Date of purchase of Value

Extent of Whether Remarks interest Sec. 37B Maturity

of Direc- (4), (5) and ton (6) MUS-

of the in- surer in- terested in the in- vestment

Name of the Company whose shares or debenture* are held by th< insurer and description of Investments

TOTAL

PART C

Particulars of investments other than those shewn ,n Pert A-1 ir, B and Fart D and not satis- fying the requirements of Bub-sccrions (1) and (3) bin complying with the requirements of sub- sections (4) and (5) of section 27B of the Act.

Book Value

Market Value

Face Value

Date of invest- ment

Extent Remarks of interest of Direc- tors Full description of the investment (including the name of the Co.)

Name of the Direc- tors of the Insurer interested in the In* vestment

PART D

Particular! of investments not satisfying the requirements of sub-sections (4) and (5) of

•ection 27B of the Act.

I

Amount held invested in

excess of the requirements

of

Total

Value

of the

Invest-

ment

Date

of

In-

vest-

ment

Sub—section Sub-section

(4) (5)

Extent

of each

Direc-

tor's

interest

in the

Company

Names of

the Direc-

tors of the

insurer

who are

interested

in the in-

vestment

Clause Clause Clause Clause

Full des-

cription of

the Invest-

ment (in-

cluding the

name of the

Company in

which Inves-

ted)

(a) (b) (a) (b)

It the in- Remark*

vestment

is shown

in Part A

or Part

B of the

statement

indicate

it by

cross re-

ference

II

Particulars of investments not satisfying the requirements of sub-section (6) of section 27B of

the Act.

Name of Di-

Book

Value

Market

Value

Name of the Com-

pany

Date of

Investment

Face

Value

Extent of Remark*

Directors

interest

rectors of In-

jurcr interest-

ed in the pri-

vate Company

I hereby certify that the particulars furnished In the return are true and complete to

my knowledge.

Date:

Principal Officer.

NOTES

I. (a) Market value of securities, debentures, shares etc. should be ascertained bom

published quotations. Where published quotations are not available, it should be stated

in the remarks column how the market values have been arrived at

(b) If 'accrued interest' has been added to the market value, it should be so stated

in the remarks column.

(c) In the case of shares and debentures of Companies, the location of the Companies

should also be stated.

(d) In the case of mortgages of property, and properties owned by the insurer, location

of each property should be separately stated.

(e) In the cose of investments made on and after the 31st December, 1969, the dale

of purchase should be given.

XL In respect of investments in Part A of the statement, Investments which were ap-

proved at the time of the last statement but ceased to be so subsequently should be distinctly

marked by double asterisks.

m. Investments held In deposit under section 7 of the Act should also be included

in the return.";

(b) after Form IV-B, the following Form shall be inserted, namely:—

"FORM IV-BB

[$M Rule ioC(4).]

Return showing all the changes that occurred hi the investments of the assets of

the

(insurer), during the quarter ending

19 .

[ 5M section 28BW of the Act)

(1) Purchases and other additions during the qmartar ending 19

Full des- Date of Purchase Face Book Market Statt State whether

cription purchase Price Value Value Value whether the additioni

the invest- to the existing

of the pr

tnrestment. addition

ment holding, if any,

complies would attract)

with sec. Soc. 27B(4)i>r

27BCO <5)

(z) Sales imd other deductions during the quarter ending 19

Date of Sale orice

Face Value Book Value Date of of invest- of the purchase rn^nt sold, investment of the

Pull dii- cnpnon ot the inviat- mont

Purchase price of the Invest- ment now sold.

Amount realised by the Sale

Sale or disposal

sold investment now so'd*

*To be given in the case of investments made after 31st December, 1968. If made before th:"ndd"te itmiy b u o j t a t ei nthjcolumiv AboseeNote i(a)to i(d) In Form IV-AA";

(c) in Form V, for the words and fljuro "Government of India Insurance Stamps for R". 5/- , the word! and figure "Government of India Insurance Stamp for Rs. 15/-" shall be Bubt- tituted;

(d) in P om V-A, in l i t: 5, fr i- v r\ 1 li fijire "Rs. 5" and | ""'Rs. 2" the word and

a nd fljarea "Rs. 15" and "Rs. 7" shall rc3pectively be substituted;

(e) In Form V-P, for the words and figure "Government of India Insurance Stamp W Ri. 5/- 11? WJ.-II and fijare "Gavernmint of India Insurance Stamp for Ra, i

(f) In Fom V-PA, in note 5, for the word and figure "Rs. 5" and "Rs. 2", the word and figures "R". 15" and " R J. ?* shall respectively be substitutedj

(g) in Form V-S, for the words and figure "Government of India Insurance Stamrj for

L' 5 t .J t he w o r ds "nd flS"¹"⁶⁸ "Government of India Insurance Stamp fort Rs. 15/-" shall be

substituted; ^

(h) in Form V-S A,—

J/ e (i) for th; words aai flwre "Government of India Insurance IStamp for Rs 5/-" the words aid fljare3"Gj/irnji:nt of India Insurance Stamp for Rs, 15/-" shall be substituted; J

00 in n)te J, forth: wordi and ft jure "R*. 5"aal "R<. 3"j the word and flmires "Ri T""

3 ^ and'^Rs-y'^hallrespectivdybeiubstitutedj

(i) in Fjnn V^SS, for the words and fljure "Qjvernment of India Insurance Stamp for Rr 5/-", th; wj-d. aid fljdrj? "Govcrntnanc of India Insurance Stamp for Rs. 15/-" shall be substituted;

0) In Form V-SSA,—

(0 For the words and figure "Government of India Insurance Stamp for Rs 5/-B the words gnd figures "Government of India Insurance Stamp for Rs. i

'

(M) in note 5, for the word and figure "Rs. s/-" and "Rs. 2/-", the word and fleures "Rs.i5/-"and "Rs. 7/-" shaflrcspectlvely be substituted;! "nangures

10 n't :r ^ ^rm V-G, the following Form sha'l be injerted namely:—

"FORM V-GG

(Sit Rule 17-AA)

From

("Name) (Occupation) (Address)

TcJ

The Directorsj

Insurance Co. Ltd.,

In connection with shares No". of your company standing in your "harc rrtrislef in the name of (nam ) ("ccuparion) ('addre^)

I hereby solemn'y declare that out *f the above shartSi

(i) I am the sole beneficial owner of shares Nos. and I acquired the beneficial interest beforie the commencement of the Insurant e(Ameridrntnf Act.. icf 8 (62 of 1568).

on the day of

19

(ii) in respect of shares Nos. (occupation)

and (name) (address)

I and (name) (address) (occupation) are joint beneficial

owners, my interest in these shares being limited to and was acquired before the commene mert of the Insurance (Amendment) Act;i968.

on the day of 19

Made on day the 19 at In the presence of

(WitnesB) signature Name and Address. Signature.

I,

of

in whose name the Shares Nos. of your company stand in your share register, hereby recognise in full the interest claimed in respect of the said shares and In token thereof have countersigned the above declaration.

Signed on the day of the 19 In the presence of (Witness) Signature

Name and Address.

Signature";

(1) after FormXVI,thefollowingFoimsshallbeini;rtcdQamely:—

"FORM XVII

( 5" Rule 40)

Warrant of Authorisation vndtr section 34 H of tht Insurance Act, 1938 and Rule 40 of tht

Insurance Rul*ss 1939,

Shri

Name & Designatio) of tl e Officer

Whereas information has been laid before me and on the consideration thereof, I have reason to believe that

a requisition under sub-section (2) of section 33 of the Insurance Act 1938 by

(name of the person) wae served on to (date) to produce or cause to be produced the books, accounts and other documents specified in ihe requisition and he has omitted or failed to produce or cause to be produce such books, accounts or other documents as required by such requisition.

a requisition under sub-seefcon (2) of section 33 ot tl c Insuisi c c Act 193E by

.(name of the person) was served on (date) to to produce or cause to be produced the books, accounts and other documents specified in the requisition and he will not j roducc or cause to be produced such books, accountSj or other docu- ments as required by such requisition.

A contravention oi the provision.¹ oi section

this Act has been

committed orislikely to be committed by

Name of insurer.

Claim No

: under Policy No

in the

class of

insurance business which is. ilue to be settled by

Name of Insurer,

has b;en ot is likely to be settled at a figure higher than a reasonable amount,

Claim No

under Polity No

\n the

insurance business which is tive to be settled (Name of insurer) has been or i, likely to be rejected or settled at a clans of by figure lower than si reasonable amount.

An illegal rebate or commission lias been paid or is likely to be paid by

Name of insurer, in respect of...,

attached list bolonging to

the books, accounts, receipts, vouchers, survey reports or other documents, specified in the arc likely to bo tampered Name of the insurer,

with, falsified or manufactured

And whereas I have reason to suspect that such books, accounts or other documents as are necessary for the purposes of invebtigation of matters aforesaid, have been kept and are to be found at

(Specify particulars of the building or place) 1

This is to authorise and requite you

(name of authorized officer):—

(a) to enter and search the said premises: (b) to place id^atiH-ition marks on such books, accounts and documents as may be foundin the cjui/se of the }earch and as you may consider relevant to or useful for the purposes of or the investigation of matters aforesaid and to make a list thereof together wtth particulars of the identification marks: |

(c) to aximinc such bzuks, accounts and documents and'make, or cause to be made, I copies or extracts from such bjoks of account and documents;

(d) to seize any such books, accounts or documents, found as a result of such search 4 Hand take possession thereof;

(e) to convey such books, accounts or docum ents, to

— - •

(Office).

(f) to exercise all other powers and perform all other functions under section 34H of th" Insurance Act, 1938 and the rules relating thereto.

You may requisition the services of any Police Officer or any officer of the Central GoYCin- ment, or of both, to assist you for all or any of the ^purposes specified in sub-section (1) of ncctlon 34H ofthe Insurance Act, 1938.

CONTROLLER OF INSURANCE^

FORM XVIII—AF

APPLICATION FROM A FIRM OR COMPANY FOR A LICENCE TO ACT AS A

SURVEYOR/LOSS ASSESSOR

(.See Rule 56)

The Controller of Insurance. Slmia-4.

Dear Sir,

It is re^us-nts 1 that a licence ro act A* a Surveyor/Loss Assessor may be granted to our Firm/ Company.

2. The receipt No dated from showing payment of fees of Rs. 250 is enclosed.

3. *It is hereby declared that—

(i) any partner of our Firm/any Director of our Company has not been found to be of" unsound mind by a Court of competent jurisdiction;

(ii) any partner of our Firm/any Director of our Company lias not been found guilty of criminal mis-appropriation or criminal breach of trust, or cheating or forgery, or an abetment of or attempt to commit any uch offence by a Court of competent Juris- diction;

(iii) any partner of our Fir n 'any Directoi of our Company ha-* not been found guilty of or to have knowingly 1 irticipated in or connived at any fraud, dishonesty or mis-

• Strike out norrions not required

rspre3;ntation against an insurer or an insured in the course of any judicial proceed- ings relating to any policy of insurance or the winding up of an insurance company or in the course of an investigation of the affairs of an insurer; and

(iv) any partner of our Firm/any Director of our Company is not a minor,

4. It M also declared that the particulars given below are true.

1. Full name of tha applicant I. Company/Firm

(In Block Letters)

2. Full Address

2

3. The names of all the partners/Directors, with 3

their addresses Btating in each case the date of birth and whether the partner/Director claims to— (a) have been in practice as a aurveyor/loss (a)

assessor on the 26th October, 1968) or (b) hold a degree of a recognised university in (b)

any branch of engineering! or

(d) possess actuarial qualifications or hold a (d) degree or diploma of any recognized Uni- versity or institute in relation to insurance, or

(e) hold a diploma in insurance granted or (e)

recognized by the Government.

(N-B.—In the cise of each of the partners/ Directors claiming to come under (a; above a declaration In the form given in (If the space above is insufficient pmrticalar* the Annexure to this Form duly filled in may be given in a separate sheet whxh and sworn before a Magistrate, Notary should be signed by the applicant) Public or Justice of the Peace ehould be forwarded with this Form and in the case of each of the partners/Directors claiming to come under any one of (b) to (e) above, the original diplomas/certi- ncates with one attested copy each should be enclosed. The original diplomas/ certificates will be returned after perusal).

4. DldtheFirra'Cjtnpanyeverholdallconcej ifso 4

state number and date. No Date

Yours faithfully, Signature of applicant Name of place Dated the 19 . Designation

Name of Firm/Company

(See notes on the reverse)

ANNEXURS

I Son/Daughter/Wifc of hereby declare that on the 26th day of October i<)68 I was in practice as a surveyor/loss assessor in respect of genenS Insurance business in my individual capacity/as a partner/Director of (name of Firm). I also declare that I have/th* firm has/the company has acted as surveyor/tai* jmsi3or sni have/has signed a survey/loss assessment report in respect of the following* :

1. Insurance Co. 2. Class of Insurance business. 3. Policy No. and claim No. 4. Date of report.

Place

Signature ot ihe applicant

The above declaration was sworn before ma by Mr/Mrs./Miss

of.. . . . . . . . . . . . , . '. who who is identified by Mr./Mrs./Miss is known to me.

Signature & Seal of Magistrate, Notary Public

or Justice of the Peace.

Place Date

*Thc applicant must give details of a recent nurvey/loss assessment report signed by him /> the Firm/the Company as a surveyor/loss assessor.

NOTES

1. The attention of the applicant is drawn to section 104 of the Insurance Act, 1938 which provides that whoever in any document required for the purposes of any of the provisions of that Act, wilfully makes a statement false in any material particular, knowing it to be false, shall be puni- shable with imprisonment for a term which may extend to three years or with fine which mav extend to one thousand rupees, or with both.

2. A firm or company can apply for only one licence which will entitle it to act as a surveyor/ loss assessor.

3. Any correction or alteration made in any answer to the questions in the application should be initialled by the applicant.

4. A fee of Rs. 250 should be paid into the Reserve Bank of India or where there is no office of the Reserve Bank of Ind'a, into the State Bank of India acting as the agent of the Reserve Bank of Indi 1 or into any Government Treasury for credit under the head "XXI Miscellaneous De- partments—Fees realised under the Insurance Act, 1938" and the receipt shall be sent along with this application.

5. FaymentinCASHOR BY MONEY ORDER, CHEQUE, POSTAL ORDER POSTAGE OR INSURANCE STAMP OR BANK DRAFT, is not accepted and will be returned at appli- cant's cost.

6. No acknowledgment of this application will be sent. If one is required the applications nhouid be sent by registered post (acknowledgment due).

Not Transferable.

FORM XVIII—AAF

GOVERNMENT OF INDIA

(Office of the Controller of Insurance)

LICENCE No

(See Rule 56)

LICENCE TO ACT AS A SURVEYOR/LOSS ASSESOR UNDER PART II B

OF THE INSURANCE ACT 1938.

N"me

Address

having paid the prescribed fee and having made the necessary declaration is hereby authorized

under section 64 UM of the Insurance Act, 1938 to act as surveyor/loss assessor for five years from

This Licence will expire on

Simla,dated the 19 . Controller of Insurance

Seal of the Firm/Company

(See notes on the reverse)

NOTES

1. It it is desired to renew this licence for a further period, the procedure laid down, in rule 56 of the Insurance Rules 1939, shall be followed) and an application for renewal should reach the Controller of Insurance at least thirty days before 1hc licence expires.

2. This licence authorises the licence holder to act as a surveyor/loss assessor for any regis- tered insurer and therefore, no identifying mark or note of any description by which the identify •of an insurer might be established should be placed on the licence.

3. No correction in this licence will be valid unless initialled by the Controller of Insurance or H person authorized by him m this behalf.

FORM XVIII—Al

APPLICATION FOR A LICENCE TO ACT AS A SURVEYOR/LOSS ASSESSOR

(See Rule 56)

To

The Controller ol Insurance,

Simla-4-

'Dear Sir,

I request that a licence to net as a burvcvor/losi assessor may be granted to me.

2. I enclose the receiptNo dated

from the showing payment of the fees of Rs. 250.

3. I hereby declare that :—

(1) I have not been found to be of unsound mind by a Court of competent Jurisdiction; (ii) I have not been found guilly of criminal misappropriation or criminal breach of trust or cheating or forgery or an abetment of or attempt to commit any such offence by a Court of competent Jurisdiction ; and

(lii) I have not been found guilty of or to have knowingly participated in or connived "t any fraud, dishonesty or misrepresentation against an insurer or an insured in the course of any judicial proceeding relating to any policy of insurance or the winding Up of an insurance company or in the course of an investigation of the affairs of an insurer;

4. I also declare that the particulars given below aie true.

, (In block letters)

Ci) Full name

(1) *Mr •Mrs •Miss

• (2) 'Father's /husband's name (2)

(3) Full address §(3)

(4) Date of birth of the applicant in (4)

Christian Era.

Whetner the applicant has been in (3)

practice as a Surveyor or loss asse- ssor on the 26th October 1968 (say 'Yea'or 'No') (If the answer is in the affirmative the declaration in the Annexure to this form should be filled in and duly sworn before a Magistrate, Notary Public or Justice of the Peace.)

+f6. Qualifications : (6^

,

Whether the applicant possesses any of the following qualifications; if BO give details and also enclose the original diplomas/certificates:, together with attested copy of each.

$ If the licence is required in the name of sole proprietorship firm, the iuU name and address of the firm under which ihe individual carries on 01 proposes to carry on the work, should also be i-mentioned here.

(The original diplomas/certificates will be returned after perusal)

(a") holds a degree of a recogniz- (a) ed University in any branch of engineering;

• • (b) is a fellow or associate mem- (b) ber of the Institute ot Char- tered Accountants oflndm or The Institute of COM and Works Accountants of India, (c) possesses actuarial qualiflca- (c) tions or holds n degree or diploma of any recognised University or institute in relation to insurance,

(d) holds a diploma in insurance (d) granted or recognized by the Government.

if) Have you ever held a licence ? if (7)

so, state No. and date. No

Date of issue

•Strike out portion not required.

fThis need not be filled up. if answer to (5) is 'Yes'

Yours faithfully, Signature of applicant.

Dated the

(Sec notes on the reverse)

Annexnre

I Son/Daughter/Wife of

hereby declare that on the 26th day of October 1968 I was in practice as a 3Urvcyor/los" assessor in respect of general insurance business. I'also declare that I have acted as surveyor/loss assessor and have signed a survey/loss assessment report in respect of the following* —

1. Insurance Co. 1. Class of Insurance business. 3, Policy No. and Claim No. 4. Date of report.

Place

Signature of the applicant.

Date

The above declaration was sworn before me by Mr./Mra, /Miss who of who is identified by Mr./Mrs./Miss/ is known to me.

Signature & Seal of Magistrate, Notary Public or Justice of the Peace.

Place

Date

*Tho aoplicint must give d;ta:h of a recent survey/loss assessment report signed by him ai a surveyor/loss assessor.

NOTES

1. The attention of the applicant is drawn to Section 104 of the Insurance Act, 1938, which provides that whoever in any document required for the purposes of any of the provision* of that Act, wilfully makes a statement false in any material particular, knowing it to be false, shall be pun- ishable with imprisonment for a term which may extend to three years or with flue which, may extend to one thousand rupees or with both.

2. An Individual can apply for only one licence which will entitle him to act as a surveyor/ loss assessor for any insurer.

3. Any correction or alteration made in any answer to the questions in the application should be initialled by the applicant.

4. An applicant must be at least 18 years of age on the date of submission of the application. In the case of an applicant declaring his age as t8 years, the exact date of birth should be given and in all other cases, either the exact date of birth or failing that the year of birth should be statea against item 4 of the application. If required the applicant shall furnish proof of age.

5. A fee of Rs. 250 should be paid into the Reserve Bank of India or where there is no office of the Reserve Bank of India, into the State Bank of India acting as the agent of the Reserve Bank of India or into any Government Treasury for credit under the head 'TtXI-Miscellaneous De- partments—Fees realised under the Insurance Act, 1938" and the receipt shall be sent along with this application.

6. Payment in GASH OR BY MONEY ORDER, CHEQUE, POSTAL ORDER, POS- TAGE OR INSURANCE STAMP OR BANK DRAFT is noi ecceptcd end will be returned at applicant's cost.

7. No acknowledgment of this application will be sent. If one is required, the application should be sent by registered post (acknoledgment due).

Not Tranftforablr,

FORM XVIII —AAI

GOVERNMENT OF INDIA

(Office of the Controller of Insurance)

LICENCE No

(Sec Rule 56)

LICENCE TO ACT AS A SVRVBYORlLOSS ASSESSOR UNDER PART II-B

OF THE INSURANCE ACT, 1938

Mr.

Mrl

Miss

Address

,

Sworking as sole proprietor of

having paid the prescribed fee and having made the necessary declaration is hereby authorised under sect ion 64UM of the Insurance Act 1938 to act as a Surveyor/Loss Assessor for five years

from This Licence will- expire on Simla, dated tho 19 . Controller of Insurance

Signature of licence-holder

{(Strike out if not required.)

(See notes on the reverse)

NOTES

1. If it is desired to renew this licence for a f urther period, the procedure laid down In Rule 56 of the Insurance Rules, 1939 shall be followed and an application for renewal should retch the controller of Insurance at least thirty days before the licence expires.

z. This licence authorises che licence-holder to act as a surveyor/loss assessor for any regis- tered insurer and therefore, no identifying mark or note of any description bv which the Identity of anlnsurer might be established should be placed on the licence.

3. No correction in this licence will bi valid unless initialled by the Controller of Insurance or a person authorised by him in this behalf.

Sue. 3(i)J TJtlE UAZEllii OF INDIA hXTRAGRDlNARV 403

FORM XVIII—HI-

APPLICATION FROM A H RM OR COMPANY FOR RENEWAL OF A LICENCE TO ACT AS A SURVLYOK/LOSS ASSESSOR

(Set rule 5

From

Name of Applicant

"

(In Block Letters)

Full Address

- . .,

t • *. I *. . , " •, 1. * , ! • " • .. . i " , i .. , . " , . , , *. m * * < * +*

, r * * * ".,**••* , 0 * - 1 • * k

(In Block Letters)

To

The Controller of Insurance, S imIa-4.

Licence No

Date of expiry

Dear Sir,

It is requested that the above licence may bo renewed for a further period of live years,

a. Receipt No dated

from the

showing payment of Rs. 200 is enclosed.

3. *It is hereby declared that

(i) any paitncr of our Firm/any Director of our Company has not been found to be of unsound mind by a Court of competent jurisdiction;

(:i) any partner of our jArm/any Director of our Company has not been found guilty of criminal misappropriation or criminal breach of trust, or cheating or forgery or an abetment of or attempt to commit any such offence by a Court of competent Jurisdic- tion ;

(in) any partner of our I'nra/any Director of our Company has not been found guilty of or to have knowingly participated in or connived at any fraud, dishonesty or misrepre- sentation against an insurer or an insured in the course of any judicial proceeding rela- ting to any pohcy of insurance or tho winding up of an insurance company or in the course of an investigation of tin- affairs of an insurer; and

(iv) any partner of our Firm/any Director of our Company is not a minor.

4. It is declared that each one of the partners/Director of the firm who was a partner/Direc- tor wh;n the ab.ive-m:ntioncd licence was issued and who is now a partner/Director continues to satisfy the requirements of clause CD) of sub-section (1) of section 64UM of the Act.

5. It is also declared that the particulars given below are true.

6. The j a m: of all th: pjrtncrs/Directors, with their addresses, are given bolow, stating in each cuse the date of birth and whether the partner or Director claims to

(a) liavc been m practice as a surveyor/loss (a)

assessor on the 26th October, 1968; or

(b) hold a degiee of a rej^nised university (b)

in any branch of engineering, or

!. 1!. 1

_

' (c) be a fellow or associate member of the (c) Institute of Chartered Accountants of India or Institute of Cost and Works Ac- countants of India, or

.'...'..."."

(d) possess actuarial ciualifications or hold a (d) degree or diploma of any recognised Uni- versity or Institute in relation to Insu- rance, or

(e) hold a diploma in insurance granted or (e)

rccogniv d by the Government.

'..'.'.!'

•Strike out portions not required.

(N.B,—In the case of each of th: pictners/Directors who was not a partner/Director on the date of the last application for licence (0 where hi claims to come under (a) above a declaration in che form Riven in the AnncxUK to tdis l'orm duly filled in and sworn before a Magistrate, Notary Public or Justice of the Peace should be forwarded with this Form and (ii) where he claims to comi under any one of (b) to (e) above; the original diplomas/certificates with one attested copy should be enclosed. The original diplomas/certificates will be returned after perusal).

Yours faithfully,

Dated the 19. Signature of applicant

Designation; Name of Firm/Company

(See notes on the reverse).

ANNEXUBE

I,

son/daughter/wife of , hereby declare that on the 26th day of October 1968 I was in practice as a surveyor/loss assessor in respect of gencral'insu- rancc business in my Individual capacity as a partner/Director of (nftmo of firm). I also declare that I have/the firm has/the company has acted as surveyor/loss assessor and have/has signed a survey/loss assessment'report as surveyor/loss assessor in respect of the following* :—

I. Insurance Co. a. Class of Insurance business. i. Policy No. and claim No. 4. Date of report.

Signature of the applicant.

Place D*te

The above declaration was sworn before me by Mr./Mrs./Miss

of who wno Is identified by Mr./Mrs./Miss is known to me.

Place Date

Signature & Seal of Magistrate, Notary Public or Justice of the Peace.

*Thc applicant must give details of a recent survey/loss assessment report signed by him/ the firm/the company as a surveyor/loss assessor.

NOTES

1. The attention of the applicant is drawn to section 104 of the Insurance Act, 1^38 which provides that whoever in any document required for the purposes of any of the provisions of that Act, wilfully makes £ staterncntfalscinanymaterialparticular,knowingittobefal8ejahallbepuni- shable with imprisonment for a term which may extend to three years or with fine which may extend to one thousand rupees, or with both.

2. The name and the licence number given in the application should be identical with those shown in the licence held. If there is any subsequent change in the name, the reasons for the same should be stated furnishing documentary evidence for the same.

3. Any correction or alteration made in the application should be Initialled by the applicant.

4. The application should reach the Controller of Insurance at least thirty days before the expiry Jt the licence held by the applicant. If the application does not reach the Controller of Insurance atleast 30 days before the date on which the licence ceases to'be in force, it will not be entertained. In thai case ^the applicant, ifhe so desires, may apply for a fresh licence by paying a fee ofRs. 250.

5. A fee of Rs. 200 should be paid into the Reserve Bank of India or where there is no office of the Reserve Ba"k of India, into the State Bank of India acting as the agent of the Reserve Bank of India or into any Government Treasury for credit under the'head "XXI—Miscellaneous De- partments—'Fees realised under the Insurance Act, 1938" and the receipt shall be sent along with this application,

6. Payment in CASH OR BY MONEY ORDER, CHEQUE, POSTAL ORDER, POS- TAGE OR INSURANCE STAMP OR BANK DRAFT is not accepted and will be returned at applicant's cost.

7. Nl ajkruwlcdgtnent of this application will be sent. If one is required the application

Not I ranaferable.

FORM XVIII—BBF

GOVERNMENT OF INDIA

(Office of the Controller of Insurance)

Licence No

(See Rale 56)

RENEWAL OF LICENCE TO ACT AS SURVEYOR/LOSS ASSESSOR UNDER

PART II B OP THE INSURANCE ACT, 1938.

Name

. .

Address

.. .to act EH surveyor/loss assessor is hereby renewed upto the lnvingpiiddi;p:;)^rib^.i fss ,111.1 hiving TITIC the nccjsi.iry declaration, its licence No ditcd (Jay of

19 ,

Simla, dated the 19 . Controller of Insurance

Seal of the Firm/Company.

NOTES

1. Ifit 19 desired to renew the licence for a further petiodj the procedure laid down in rule 56 of the Insurance Rules, 1939, shall be followed, and an application for renewal should reach the Controller of Insurance at least thirty days before the licence expires.

2. The Licence authorizes the licenge-holder to act as a surveyor/loss assessor for any regis- tered insurer and therefore, no identifying mark or note oJ" any description by which'the identify of an insurer might be established should be placed on 'the licence or on this renewal licence.

3. No correction on this renewal licence will be valid unless initialled by the Controller of Insurance or a person authorised by him in this behalf.

FORM XVII I—BI

APPLICATION FOR RENEWAL OF A LICENCE TO ACT AS A SURVEYOR/LOS?

ASSESSOR.

(See Rule 56)

From

Name of Surveyor/ Mr.* Loss Assessor Mrs.* Miss.*

Full Address

To

fworking as sale proprietor of""

'' The Controller of Insurance, Simla.

Licence No

Date of expiry

Dear Sir,

I request that the above licence may be renewed for a further period of five years.

2. I enclose receipt No

4.aJ,

from the

showing the payment of Rs. 200. 3.* I declare that since the date of my last application for a licence.: : —

(i) I have not been found to be of unsound mind by ft court of competent jurisdiction; (ii) I have not b;en fowl equity of criminal misappropriation or criminal breach of trust or cheating or forgery or m pbetment of or attempt to commit any such ottence by a court of competent jurisdiction;

(iii) I have not been found guilty of or to have knowingly participated in or ™ ^£ at any fraud, dishonesty or misrepresentation against an insurer^or an £™rcd *n the course of anv judicial proceed™ R relating to any policy of insurance or the wlnamg up of an insurance company or in the course of any investigation mt0 the anairs ot an insurer; and

^_

* Strike o'lt whichever is not applicable. tStnkc out if not applicable.

(iv) my licence naa not been cancelled at any time by the Controller of Insurance, (v) I declare that I continue to hold the qualification on the basis ot which my licence men- tioned above was issued.

4. I also declare that the facts statod herein arc true.

Yours faithfully,

Dated the 19 .

Signature of the applicant.

NOTES

1. The attention of the applicant is drawn to section 104 ol the Insurance Act, 193B3 which provides that whoever in any document required for the purposes of any'of the provisions of thet Act, wilfully makes a statement false in any material prrticuiar, knowing it to be false, shall be punishable with imprisonment for a term which nuiy extend to three years, or with fine which may extend to one thousand rupees, or with both.

2. The name and the licence number given in the application should be identical with those shown in the licence held. If there is any subsequent change in the name, the reasons for the Same should be stated furnishing documentary evidence ior the same.

3. Any correction or alteration made in the application should be initialled by the appli-

cant.

4. The application should reach the Controller of Insurance ut least thirty days before the expiry of the licence. If the application docs not reach the Controller of Insurunce at least 30 days before the dateon which the licence ceases to be in force, it will not be entertained. Inthat case the applicant, if he so desires, may apply for a fresh licence by paymgafce ofRfl.250.

5. AfecofRs. 200 should be paid into the Reserve Bank'of India or where there is no office of the Reserve Bank of India into the State Bank of India acting as the agent of the Reserve Bank of India or into any Government Treasury for credit under the head "XXI—Miscellaneous De- partments—fees realised under the Insurance Act, 1938" anil the receipt shall be sent along with this application.

6 Payment in CASH OR BY MONKY ORDER, CHEQUE, POSTAL ORDER, POS- TAGE OR INSURANCE STAMP OR BANK I)RAF f is not accepted and will be returned at applicant's cost.

7, No acknowledgment of this application will be ;.ent. If one is required the application should be sent by registered post (acknowledgment due).

FORM XVIII—BBI

GOVERNMENT OF INDIA

(Office of the Controller of Insurance) Iicenoc No

(See Rule 56)

RENEWAL OF LICENCE TO ACT AS ^URVEYOR/IOSS ASSESSOR UNDER PART IIB

Kt.nnwn OF THE INSURANCE ACT 1938

Mr.

Mis Miss. Address . . . .,

§ Worklne >S sole proprietor of having paid the prescribed fee'and'having made the'necessary declaration, his/her licence N o . . ..

dated

to act as a surveyor/loss assessor is hereby r'unewed upto day of 19 Simla, dated the 19 - Controller'of Insurance.

Signature of licence holder 5 Strike out if not inquired

(See Notes on the Reverse)

I. If it is desired to renew the licence for a further period, the procedure laid down in rule <6 of the Insurance Rules, 1939, shall be followed, and an application for renewal should reach the controller of Inturance at hast thirty days before the licence expires.

z. f a- licence aatnorizes ihe licence-holder to act as a surveyor /loss assessor for any regla- wreJ insurer atil tlisrelorc, no identifying mark or note of any description by which the identity of ,u iruurer might be established shoald be placed on thelioencc or on this renewallicence.

3. No correction in this renewal licence will be valid mikss initialled by the Controller of In- surance or a person authoised by him in this behalf.".

17. In the said rules, after Schedule I as renumbered, the following Schedule slwUI be inserted, namely:—

"SCHEDULE II

{See Rule 43)

Procedure for the purpose of regulating the Election to the Tariff Advisory Committee.

1. Nomination of Candidates t

(i) On the date to be specified by the Controller, the Secretary shall call for nomi- nation of candidates from constituencies of insurers as per rule 41.

(ii) Every nomination rtf a candidate shall be in the form annexed to this Schedule duly signed by the candidate and by a proposer and a seconder both of whom shall be insurers eligible to vote in the same Constituency for which the candidate is nominated.

fiii) Every such nomination paper shall be sent by registered post to tho Secretary so as to reach him before the time and date to be specified by the Controller-

2. Nomination Papers:

fi) The Secretary shall scrutinize the nomination papers oh the date specified by the Controller.

(ii) Every nomination paper which is not received before the date and lime specified by the Controller shall be rejected by the Secretary.

3. Withdrawal of Candidature :

(i) Any candidate may withdraw his candidature by notice in writing signed by him and delivered to the Secretary by the date to be specified by the Controller.

(H) A person who has withdrawn his candidature shall not be permitted subse- quently to cancel his withdrawal.

(iii) Intimation of the withdrawal of every candidate shall be sent by the Secretary to the other candidates standing for election from the same Constitrjpnfiy.

4. Number of Candidates :

('}) If the number of candidates nominated by insurers' in any constituency does not exceed Ihe number of members to be elected from tluil constituency the candidates so nominated shall be declared elected and their narhes shall be notified in the Gazette of India.

(ii) If the number of candidates nominated by insurers in any constituency exceeds the number of members to be elected from that constituency an election shall be conducted in the manner hereinafter provided.

.V Procedure for Election:

(i) On the date to be specified by the Controller the Secretary shall send by regis- tered post to the address of every voter in the constituency a voting paper together with necessary instructions as to how to fill in the voting paper and specifying the date and hour by which it shall reach 1h" Secretary.

(ii) Every voting paper shall bear the seal of the Tiriff Advisory Committee nnd shall contain a list of candidates for election from the constituency.

fiii) Eveiy voter shall have one vote onlv. (ivi Every voter while (rlvinR his vote-

fa) shall place on his voting paper the figure 1 in the, squaic opposite the name

of the candidate for whom ho votes;

ft) may, in addition, place on his voting paper the figures 2 or 2 and 3, or 2, 3 and 4 and so on, in the squares opposite the names of other candidates in the order of his preference.

6. Manner of sending Voting Papers :

Every voter after filling his voting paper in the manner provided in clause 5 shall send such voting paper by registered post to the Secretary so as to reach him not later than the time and date specified by the Controller.

7. Invalid Votes:

A. vote shall be deemed to be invalid :

(a) if the voter signs his nftme or writes any word or makes any mark on the voting paper by which the identity of the voter is disclosed; or

(b) if the vote is recorded on a voting paper which does not bear the seal of the Tariff Advisory Committee;

or

(c) if the figure 1 is not marked on the voting paper in the manner provided in clause 5;

or

(d) if the figure 1 is set opposite the name of more than one candidate;

or

(e) if the figure 1 anJ some other figures are set opposite the name of the same candidate;

or

(f) if the voting paper is unmarked or if the vote is otherwise void for uncertainty;

or

(g) If the voting paper reaches the Secretary after the time specified in clause 6.

ft. Date of Counting of Votes: The counting of votes shall take place at the time and date to be specified by the S t r o l l er at the Office of the Tariff Advisory Committee.

0, Counting of Votes :

(i) The voting papers shall be examined by the Secretary and after rejecting any invalid voting papers, he shall divide the remaining papers into parcels according to the first preference recorded for each candidate. He shall then count the number of papers in each parcel.

(ii) In carrying out the provisions hereinafter contained, the Secretary shall :

(a) disregard all fractions; (b) ignore all preferences recorded for candidates already elected or excluded from the poll.

(iii) For the purpose of facilitating the processes specified by the provisions hereinafter contained, each valid paper shall be deemed to be of the value of one hundred.

(if) The Secretary shall add together the values nf the papers in all the parcels and divide the total bv ft number exceeding bv one the number of vacancies to be filled and the result increased bv one shall be the number sufficient to secure the return of a candidate (hereinafter called the quota.)

(v) Tf at any time a number of candidates equal to the number of persons to be elected has obtained the quota, such candidates shall be treated as elected, and no further steps shall be taken.

(vi) (1) Any candidate the value of whose parcel on the first preferences being counted, is equal to or Greater than the quota, shall be declared elected.

(2) If the value of the papers In any such parcel is equal to the quota the papers, shall be set aside us finally dealt with.

(3) If the value of the papers in any tudi parcel is greater than the quota, the surplus shall bo transferred to the continuing candidates indicated on the voting papers as next in the order of the voters preference, in the manner specified in the following paragraphs.

Cvii) (1) If and whenever as the result of any operation specified by those lcjjulations, a candidate has a surplus, that surplus shall be transferred in accordance with the provisions of this sub-clause.

(2) If more than one candidate has a surplus,, the largest surplus shall be dealt with first and the others in order of magnitude; provided that every surplus arising on the first counting of votes shall be dealt with before those arising on tho second count, and so on.

(3) Where two or more surpluses are equal, the Secretary shall decide as herein-

after provided, which shall first be dealt with.

(4) (a) If the surplus of any candidate to be transferred arises from original votes only, the Secretary shall examine all the papers in the parcel belonging to the candidate whose surplus is to be transferred, and divide the unexhausted papers into sub-parcels according to the next preference recorded thereon. He shall also make a separate sub-parcel of the exhausted papers.

(b) He shall ascertain the value of the papers in each sub-parcel and of all the

unexhausted papers.

(c) If the value of the unexhausted papers is equal to or less than the surplus he shall transfer all the unexhausted papers at the value at which they were received by the candidate, whose surplus is being transferred.

(d) If the value of the unexhausted papers is greater than the surplus, he shall transfer the sub-parcel of unexhausted papers and the value at which each paper shall be transferred shall • be ascertained by dividing the surplus by the total number of unexhausted papers.

(5) If the surplus of any candidate to be transferred aiises from transferred as well as original votes tho Secretary shall re-examine all the papers in the nub- parcel last transferred to the candidate and divide the unexhausted papers into sub-parcels according to the next preferences recorded thereon. He shall thereupon deal with the sub-parcels in the same manner as is provided In the case of the sub-parcols referred to In sub-clause (4).

(6) The papers transferred lo each candidate shall be added in the form of a sub-

parcel to the papers already belonging to such candidate.

(7) All papers in the parcel or sub-parcel of an elected candidate not transferred

under this sub-clause shall be set aside as finally dealt with.

(viii) (1) If after all surpluses have been transferred, as hereinbefore directed less than the number of candidates required has been elected, (he Secretary shall excludo from the poll the candidate lowest on the coll and shall distribute his unexhausted papers among the continuing candidates according to the next preferences recorded thereon. Any exhausted papers shall be set as^de as finally dealt with.

(2) The papers containing original votes of an excluded candidate shall first be transferred, the transfer value of each paper being one hundred.

(3) The papers containing transferred votes of an excluded candidate shall then be transferred in the order of the transfers in which and at the value of which he obtained them.

(4) Each of such transfers shall be deemed to be a separate transfer.

(5) The process directed by this regulation shall be repeated on the successive exclusions one after another of the candidates lowest on the poll until the last vacancy is filled either by the election of a candidate with the quota or as hereinafter provided,

(ix) If as the result of a transfer of papers under this clause, the value of the votes obtained by a candidate is equal to or greater than the quoin, the transfer then proceeding shall bo completed, but no further papers shall.be transferred to him.

(x) (1) If after the completion of auy transfer under this clause, the value of the votes of auy candidate shall be equal to or greater than the quota he shall be declared elected.

(2) If the value of the votes of any such candidate shall be equal to the quota, the whole of the papers on which such votes are recorded shall be set aside as finally dealt with.

(3) If the value of the votes of any such candidate shall be greater than the quota, his surplus shall thereupon be distributed in the manner hereinbefore provided before III? exclusion of any other candidate.

{xi) (1) When the number of the continuing candidates is reduced to the number of vacancies remaining unfilled the continuing candidates shall be declared elected.

(2) When only one vacancy remains unfilled and the value of the votes of one of the continuing candidates exceeds the total value of all the votes of the other continuing candidates, together with any surplus not transferred, that candidate shall be declared elected.

(3) When only one vacancy remains unfilled and there are only two continuing candidates, and those two candidates have each the same value of votes and no surplus remains capable of transfer, one candidate shall be declared excluded under the next succeeding sub-clause and the other declared elected.

fxii) If, when there is more than one surplus to distribute two or more surpluses arc equal; or if at any time it becomes necessary to exclude a candidate and two or more candidates have the same value of votes and are lowest on the poll, regard shall be had to the original votes of each candidate, and the candidate for whom fewest original votes are recorded shall have his surplus first distributed, or shall be first excluded as the case may be. If the values of their original votes arc oqual, the Secretary shall decide by lot which candidate shall have his surplus distributed or be excluded.

10. Appointment of Scrutineer!:

The Secretary may appoint two persons who are not candidates for election to act as scrutineers of the voting papers and to assist him generally in counting the votes.

11. Presence of Candidates or their Representatives at the time of counting of Votes:

Any candidate standing for election shall be entitled to be present in person or to appoint a representative to be present on his behalf at the time of the counflng of votes.

12. Names to be published tn the Official Gazette:

The Secretary will intimate to the Controller the names of all candidates declared elected. The names of these elected candidates will be notified by the Controller in the Official Gazette.

13. Disputes:

Any doubt or dispute regarding the interpretation of the provisions of these regulations or regarding tho validity of any election held thereunder shall be referred to the Controller whose decision thereon shall be final.

14. Sayings:

No election shall be deemed to be invalid merely because of the accidental omission to send, or delay in sending a voting paper to a voter or the accidental non-receipt of, or delay in receiving a voting paper by a voter, or any other accidental irregularity or informality in the conduct of the election.

Explanation.—In this Schedule, "SECRETARY" means the Secretary of the Tariff Advisory Committee."

Form of Nomination of a Candidate for Election to the Tariff Advisory Committee.

I, the undersigned insurer, being qualified to vote in the election of members of the Constituency as a candidate Tariff Advisory Committee by the do hereby nominate Mr./Mrs./Miss fpr the election to be held on tfc? 19 •

1. (i) Signature of proposer ,

(ii) Name and address of the insurer represented

(hi) Classes of insurance business for which the insurer is registered

2, (i) Signature of Seconder

(ii) Name and address of the insurer represented

(iii) Classes of insurance business for which the insurer is registered

3 .1

whose name is proposed above, agree to stand for election by that Constituency to be held on the -

19 .

Signature of candidate. Address

Date

fNo. F.51(6)-rNS.I/69.]

A. RAJAGOPALAN,

Officer on Special Duty and ex-offlclo Joint Secretary to the Government of India.

TOtNTKD BY THE GENERAL MANAGEH, GOVERNMENT OF INDIA PRESS,

NEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS, DELHI, 1 9 68