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Insurance Regulatory and Development Authority of India (Regulation of Insurance Business in Special Economic Zone) Rules 2015.

Allied Laws - F.NO.14017/98/2014-INS.II - Dated:- 27-3-2015 - NOTIFICATION DATED 27-3-2015 G.S.R 230(E) - In exercise of the powers conferred by clause (c) of sub-section (2) of section 24 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Central Government hereby, makes the following rules, namely:- Short title and commencement 1. (1) These rules may be called the (2) They shall come into force on the date of their publication in the Official Gazette. Definitions .....

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ngs respectively assigned to them in those Acts. Provisions regarding regulation of insurance business in Special Economic Zone 3. For the purposes of regulating and promoting the insurance business in Special Economic Zone, the Authority may, in consideration of the notification issued by the Central Government under section 2CA of the Insurance Act, 1938 (4 of 1938),- (a) permit an insurer registered, with the Authority, under section 3 of the Insurance Act, 1938 (4 of 1938) to carry on the bu .....

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surer to accept re-insurance of all classes of business from within the Special Economic Zone involving cover either within the Special Economic Zone or from outside the country, subject to the provisions of Act of 2005 and rules made there under: Provided further that the Domestic Tariff Area entities may be allowed by the Authority to procure services relating to re-insurance from insurers operating from the Special Economic Zone on the same terms as they may be allowed in general under the re .....

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y to procure services relating to insurance from insurers operating from the Special Economic Zone on the same terms as they may be allowed in general under the relevant law for the time being in force to procure such services from the insurers outside the country subject to the provisions of Act of 2005 and rules made thereunder; (iii) acceptance of insurance business within the Special Economic Zone shall be in accordance with the guidelines of the Authority, referred to in sub-section (2) of .....

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