The Insurance Act 1938 | Deposits | Reservation of Deposits | Refund of Deposits | Part 3

Описание: Corporate and Allied Laws : CA;

The Insurance Act 1938 | Deposits | Reservation of Deposits | Refund of Deposits | Part 3 ;

Introduction (00:00:09 - 00:00:20)

Deposits (00:00:21 - 00:04:54)
This part will be covered in the Insurance Act 1938
In case of Life Insurance (A sum equivalent to 1% of Gross Total Gross Premium written in India in Financial Year should not be exceeding Rs 10 Crore)
General Insurance Business (A sum equivalent to 3 % of the Total Gross Premium written in India in a financial year not exceeding Rs. 10 Crore)
Re Insurance Business (A sum of Rs 20 Crores)

Reservation of Deposits (Section 8) (00:04:55 - 00:09:26)

Refund of Deposit (00:09:27 - 00:11:19)

Amendment of Provision Relating to Appointments of MDs (00:11:20 - 00:13:16)
If you want to make provision to any of the appointment reappointment you need to have previous letter of authority done

Power of Authority to Remove Managerial Person (Section 34B (1)) (00:13:17 - 00:16:04)
Removal to be in public interest or in the interest of policy holders
Issue to show cause notice before removal

Power of Authority to Appoint Additional Directors (Section 34C) (00:16:05 - 00:21:54)
Appointment at the discretion of the authority (Section 34C(1))
Maximum Number of Additional Directors (Provision to Section 34C(1))
Provision applicable to additional directors (Section 34C(2))
Additional Directors not to be counted in total number of directors (Section 34C(3))

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