Examples of IRDA Act in a sentence
The words and expressions defined in the Insurance Act, IRDA Act, Regulations notified by the Authority and Circulars and Guidelines issued by the Authority shall carry the meanings explained therein.
The words and expressions defined in the Insurance Act, IRDA Act, regulations notified by the Insurance Regulatory and Development Authority of India (“Authority”) and circulars and guidelines issued by the Authority shall carry the meanings described therein.
The words and expressions defined in the Insurance Act 1938, IRDA Act 1999, regulations notified by the IRDAI and circulars and guidelines issued by the IRDAI shall carry the meanings explained therein.
The words and expressions defined in the Insurance Act, IRDA Act, regulations notified by the Insurance Regulatory and Development Authority (“Authority”) and circulars and guidelines issued by the Authority shall carry the meanings described therein.
Insurers/brokers/telemarketers shall, in addition to these Guidelines, comply with all the applicable provisions of the Insurance Act, 1938, the IRDA Act, 1999, IT Act, 2000, TRAI Act, 1997, The Telecom Unsolicited Commercial Communications (Amendment) Regulations, 2008 and the rules, regulations, circulars or guidelines, as applicable, to be issued from time to time.
When the market was opened again to private participation in 1999, the earlier Insurance Act of 1938 was reinstated as the backbone of the current legislation of insurance companies, as the IRDA Act of 1999 was superimposed on the 1938 Insurance Act.
Contract Act, Insurance Act, LIC Act, GIC Act, IRDA Act, Consumer Protection Act.
The IRDA Act also stipulates that the funds of policyholders be retained within the country and requires compulsory exposure by all insurance players to the rural and social sector and the backward classes.
For instance, under the IRDA Act of 1999, foreign capital participation and the minimum capital requirement for new insurance companies was set at Rs. 100 crores for life and at 200 crores for non-life.
After the passage of the 1999 IRDA Act, the GIC was de-linked from its four subsidiaries.