The Insurance Regulatory and Development Authority Act, 1999

39 sections.

Section 1 — Short title, extent and commencement.
Section 2 — Definitions.
Section 3 — Establishment and incorporation of Authority.
Section 4 — Composition of Authority.
Section 5 — Tenure of office of Chairperson and other members.
Section 6 — Removal from office.
Section 7 — Salary and allowances of Chairperson and members.
Section 8 — Bar on future employment of members.
Section 9 — Administrative powers of Chairperson.
Section 10 — Meetings of Authority.
Section 11 — Vacancies, etc., not to invalidate proceedings of Authority.
Section 12 — Officers and employees of Authority.
Section 13 — Transfer of assets, liabilities, etc., of Interim Insurance Regulatory Authority.
Section 14 — Duties, powers and functions of Authority.
Section 14A — Power of Authority to collect policy information
Section 14B — Power to call for returns containing policy information
Section 14C — Procedure for furnishing policyholder and policy related information to insurer or other regulated entities.
Section 14D — Disclosure of information prohibited.
Section 14E — Power to authorize.
Section 15 — Grants by Central Government.
Section 16 — Constitution of Fund.
Section 16A — Constitution of Policyholders’ Education and Protection Fund.
Section 17 — Accounts and audit.
Section 18 — Power of Central Government to issued directions.
Section 19 — Power of Central Government to supersede Authority.
Section 20 — Furnishing of returns, etc., to Central Government.
Section 21 — Chairperson, members, officers and other employees of Authority to be public servants.
Section 22 — Protection of action taken in good faith.
Section 23 — Delegation of powers.
Section 23A — Powers of Authority not to apply to International Financial Services Centre.
Section 24 — Power to make rules.
Section 25 — Establishment of Insurance Advisory Committee.
Section 26 — Power to make regulations.
Section 27 — Rules and regulations to be laid before Parliament.
Section 28 — Application of other laws not barred.
Section 29 — Power to remove difficulties.
Section 30 — Amendment of Act 4 of 1938.
Section 31 — Amendment of Act 31 of 1956.
Section 32 — Amendment of Act 57 of 1972.

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