📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

      The ______________ may if it is satisfied that it is

    necessary to issue directions to insurers generally or to any insurer in particular, he may, from time to time, issue such directions as he deems fit, and the insurers or the insurer, as the case may be, shall be bound to comply with such directions, under the Insurance Act, 1938?
    A Authority Correct Answer Incorrect Answer
    B Administrator Correct Answer Incorrect Answer
    C Central Government Correct Answer Incorrect Answer
    D All the above Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

     Explanation: Section 34 Power of the Authority to issue directions- (1) Where the 2[Authority] is satisfied that-- (a) in the public interest; or (b) to prevent the affairs of any insurer being conducted in a manner detrimental to the interests of the policy-holders or in a manner prejudicial to the interests of the insurer; or (c) generally to secure the proper management of any insurer, it is necessary to issue directions to insurers generally or to any insurer in particular, he may, from time to time, issue such directions as he deems fit, and the insurers or the insurer, as the case may be, shall be bound to comply with such directions.

    Practice Next
    More Administrative Interpretation and Maxims Questions

    Relevant for Exams:

    ask-question