Section 7, Actuaries Act, 2006 [S22-ZA0]

As at 7 September 2026. In force from 24 July 2006.

In Actuaries Act, 2006 [A11-B0P]. This text from 24 July 2006. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 7, Actuaries Act, 2006 [S22-ZA0]. Machine: S22-ZA0.

7. Maintenance of records and furnishing of returns.—(1) Every policy-holder shall maintain such records and registers relating to the holding of a policy as may be prescribed and shall preserve them for a period of five years. (2) Every policy-holder shall furnish to the Authority a return in Form IRDA-2 within thirty days from the end of every financial year, and such other information as the Authority may, by order in writing, require.

Defined terms in this text (2)

Authority: Section 2, Actuaries Act, 2006 [S22Z5Y] (In this Act, unless the context otherwise requires,—): "Authority" means the Insurance Regulatory and Development Authority of India established under section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999)

Authority: 22 more definitions.

policy-holder: Section 2, Actuaries Act, 2006 [S22Z5Y] (In this Act, unless the context otherwise requires,—): "policy-holder" includes a person to whom the whole of the interest of the policy-holder in the policy is assigned once and for all

policy-holder: 7 more definitions.

Made under this section, or naming it (0)

none

Cited by (1)

Section 66, Actuaries Act, 2006 [S23-151], 24 July 2006, Band A. "section 7".

Not held (0)

none

Duties published under this section (1)

D11-SGA. Every policy-holder: Maintain records and registers of the holding of a policy; preserve for five years; furnish the annual return in Form IRDA-2; thirty days from the end of every financial year; Form IRDA-2. Published by Department of Financial Services, Ministry of Finance (synthetic record).