REGISTERED No. D-(D)-72
The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 281] NEW DELHI, WEDNESDAY, JUNE 26, 1974/ASADHA 5, 1896
Separate paging is given to this Part in order that it may be fifed
as a separate compilation
MINISTRY OF FINANCE
(Department of Revenue & Insurance)
NOTIFICATIONS
INSURANCE
New Delhi, the 26th June 1974
S.O. 388 ( E ) . - In exercise of the powers conferred by sub-section (5) of section 5 of the Emergency Risks (Goods) Insurance Act, 1971 (50 of 1971) the Central Government hereby makes the following scheme further to amend the Emergency Risks (Goods) Insurance Scheme published with the notification of the Government of India in the Ministry of Finance (Department of Revenue and Insurance} No. S.O. 5483, dated the 10th December, 1971, namely:—
1. (1) This Scheme may be called the Emergency Risks (Goods) Insurance (Second Amendment) Scheme, 1974.
(2) It shall come into force on the 1st day of July, 1974.
2. In the Emergency Risks (Goods; Insurance Scheme, for paragraph 10 the following paragraph shall be substituted, namely: —
"10. Rate of Premium.—(1) The premium payable under any policy of insur- ance in respect, of the quarter ending on the 30th day of September, 1974 shall,—
(a) in the case of a policy in force on the 30th day of June, 1974, be nil;
(b) in the case of all new policies, including supplementary policies to the existing ones, be at the rate of six paise for every hundred rupees or any part thereof of the sum insured subject to a maximum of twenty-five rupees.
(1321)
I3A2 THE GAZETTE OF INfilA EXTRAORDINARY [pAifr ll—(2) Where the amount of any premium payable under clause (b) of sub- paragraph (1) involves a fraction of a rupee, the premium shall be rounded off to the nearwt rypee. The premium shall be payablo in ''Mg'iuiBpiiimii.pi j^pecf of. the entire., quajtexjor.y/M&i the policy is
ProViaefl that if "by "00
[No. F. 66(1)-INSI /7a-I|
SEC 3(11)] THE &A.ZEttE OF INDIA EXTRAORDINARY 1323^.O..389(E).—In exercise of the powers conferred by sub-section (6) of section 3 Of the Emergency Risks (Undertakings) Insurance Act, 1971 (51 of 1971), the Central Government hereby makes the fallowing scheme .further to amend the Emergency Risks (Undertakings) Insurance Scheme published with the notification •of the-Government of India in the Ministry of Finance (department of Revenue and Insurance^, No. S.O. 5486, dated the lUt.h December, 1971, namely: —
1. (1) This Scheme may he called 1he Kmevgency Risks (Undertakings) Insurance (Secdhd Amendment) Scheme, 1974.
(2) It shall come into force ou the 1st day of July,, 1974.
2. In the Emergency Risks (Undertakings) Insurance Scheme, for paragraph 8 the following paragraph shall be .substituted, namely: —
"8. Rate of Premiujyi.—(1> The premium payable under any policy of insur- ance in respect of the quarter ending nn the 30th day of September, 1974 shall —
(a) in the case of u policy in I'oriv on the :j(Jth day of June, 1974, be nil; (b) in the case of all now policies, including supplementary policies to the existing ones, be at the rate ol' ten paise for every hundred rupees or any part thereof of the gum insured, subject to a maximum of twenty-five rupees.
(2) Where the amount of any premium payable under clause (b) of sub- paragraph (1) Involves n fraction of a rupee, the premium shall be rounded off to the nearest rupee. Tho premium shall he payable in one lump sum in respect of the entire quarter for which the policy is or is continued in force;
Provided that if any undertaking becomes i-nsurablo or is insured under this Scheme after the commencement of the quarter the premium shall be payable in one lump sum, which shall be equivalent to the amount payable in respect of undertakings insurable durinc the entire quarter reduced by an. amount which tjeors to the first mentioned amount the same proportion as the number of completed months In thRt quarter hefore the undertaking becomes insurublp or is insured bears to three, the actual amount due in accordance with this proviso if it involves n fraction hein# rounded off to the nfnrept rupee-."
TNo. F. 66(l)-INSI./73-II] R. D- THAPAR, Addl. Secy.
1324 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC 3(ii)]