Answer-As per the Insurance Act an insurer _________________

Section 31 Assets of insurer how to be kept- 1 None of the assets in India of any insurer shall, except in so far as assets are required to be vested in trustees under sub-section 7 of section 27, be kept otherwise than in the name of a public officer approved by the Authority, or in the corporate name of the undertaking, if a company or an insurance co-operative society, as the case may be.

Question

As per the Insurance Act an insurer _________________

A May be registered with any name without restrictions

B Shall not be registered if the chosen name is identical or closely resembles an existing insurer

C May be registered with a name identical to that of an existing insurer

D Can register with any name, even if it is similar to an existing insurer, as long as they are in the process of dissolution and obtain consent from the Authority

E Shall have the discretion to choose its name without any restrictions

Practice Next

More Administrative Interpretation and Maxims Questions

Fruit cracking in litchi is caused by ____
Denitrification is more in:-
Which method is most suitable for polygenic traits?
Mawsynram, the place with the highest rainfall in India is located in:
Triple test cross is an extension of:
Which one of the following terminology for viruses which feed on bacteria?
A _______ is a promotion strategy that calls for using the sales force and trade promotion to move the product through channels.
Select the wrong statement about wind.
In a dihybrid cross involving two heterozygous parents (AaBb × AaBb), what is the expected phenotypic ratio, assuming independent assortment and comple...
Each species of plant or animal has an ideal location for its best growth and survival and the location is called

As per the Insurance Act an insurer _________________

Solution