MANU/IRDA/0029/2015

Authority : Insurance Regulatory and Development Authority

Notification No. : IRDAI/Reg/9/99/2015

Date of Notification : 15.07.2015

Date of Publication : 21.07.2015

Insurance Regulatory and Development Authority of India (Places of Business) Regulations, 2015.

F. No. IRDAI/Reg/9/99/2015.--In exercise of the powers conferred by Section 64VC read with Section 114A (2) (zac) of the Insurance Act, 1938 and Section 18(4) of Life Insurance Corporation Act, 1956 as amended from time to time, the Authority in consultation with the Insurance Advisory Committee, hereby makes the following regulations, namely:-

1. Short title and commencement.-

(i) These regulations shall be called the Insurance Regulatory and Development Authority of India (Places of Business) Regulations, 2015.

(ii) They shall come into force on the date of their publication in the Official Gazette and supersede IRDA (Places of Business) Regulations; 2013 from such date.

2. Definitions.-

(i) Unless the context otherwise requires, --

(a) "Act" means the Insurance Act, 1938 (4 of 1938)

(b) "Authority" means the Insurance Regulatory and Development Authority of India established under sub-section (1) of Section 3 of Insurance Regulatory and Development Authority Act, 1999;

(c) "Place of Business" means, a regional office, a zonal office, a divisional office, branch office or any subordinate office or any other office by whatever name called set up within India or a 'representative or a liaison office of Indian Insurers' or a 'Foreign Branch Office of Indian Insurer' set up outside India by the Insurers registered in India;

(d) A "Representative or a Liaison Office" would mean a place of business of Indian Insurers outside India to act as a channel of communication with the Principal place of business or Head Office by whatever name called and entities in India but which does not undert........